space x The stock rose nearly 8% on Monday, hitting its highest since mid-June, just after Elon Musk’s company made a record initial public offering. This rise has made Musk a trillionaire again.
The jump followed Sunday’s note. morgan stanley Analysts rate SpaceX as “cheap” at current prices and highlight “future AI product releases, Starship advancements, and additional neocloud contracts.” They recommend the stock as a buy, with a price target of $300, up about 75% from Monday’s closing price of $171.09.
SpaceX carried out multiple historic flights in one day late last week, including sending NASA’s crewed mission to the International Space Station and launching another spacecraft. google AI chips are on track.
Morgan Stanley analysts suggested that investors buy SpaceX stock before the company’s next scheduled test flight of its giant rocket, Starship, and ahead of its third-quarter earnings report, scheduled for late October.
Starship is SpaceX’s next-generation spacecraft, the largest rocket ever built, with both the upper stage and booster fully reusable and designed to safely land on Earth. The system is expected to significantly enhance SpaceX’s business, carrying not only the company’s Starlink satellites into orbit, but also cargo and crew from other companies and agencies.
If SpaceX attempts to capture the Starship upper stage on its next test flight, it could be the “biggest positive catalyst since the IPO,” the analysts wrote. In previous test flights, Starship’s upper stage landed in the ocean, but it was not proven to be reusable.
SpaceX is also getting a boost from the artificial intelligence business it acquired through Musk’s xAI acquisition last year and expanded through its recent acquisition of Cursor. Although the company’s homegrown Grok model is less popular than OpenAI and Anthropic’s leading models, SpaceX generates significant revenue by leasing capacity to the likes of Google and Anthropic.
Musk has the advantage of close ties to the Trump administration.
On Wednesday, the Pentagon named Musk co-director of Project Meridian. The project is an effort that involves identifying weapons, technologies, and military capabilities that the United States may need in future wars. SpaceX derives the majority of its revenue from the U.S. government, and increasingly from defense contracts, earning more than $12.7 billion so far from its work with the Department of Defense, according to FedScout.
Musk announced over the weekend that SpaceX’s AI division, known as SpaceXAI, would be renamed SpaceXSI, incorporating President Donald Trump’s new branding.
As his company’s stock soared on Monday, Musk was conspicuously absent from a New York City Council hearing where city officials grilled AI leaders and researchers over how AI technology should be regulated. Representatives from OpenAI, Anthropic, Google, and Meta were present to testify.
“AI has taken over our economy, inflated valuations, stolen public land for data centers, and increased the net worth of AI CEOs like Elon Musk, the first billionaire in history,” said City Council member Shekhar Krishnan.
According to Forbes’ Real-Time Billionaires List, Musk is currently worth $1.03 trillion, including his holdings in Tesla and SpaceX.
SpaceX went public on June 12th and soared to a record closing price of $201.80 on June 16th. The stock price soon began a downward trend and bottomed out in early August. Since then, it has increased by about 58%.
SpaceX did not respond to a request for comment.
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