Full Breakdown
SpaceX Stock Surge Reignites Elon Musk’s Trillionaire Status
By Drooid · · How we work
Core Event
On October 5 2026, SpaceX shares closed at $171.09, an 8% jump—the highest price since mid-June. Morgan Stanley analyst Adam Jonas reiterated a $300 price target, calling the stock “cheap,” and CEO Elon Musk announced the AI unit’s rename from SpaceXAI to SpaceXSI. The news lifted Musk’s estimated net worth back above $1 trillion, according to wealth trackers.
Background & Context
SpaceX went public on June 12 2026 at $135 per share, spiking to $201.80 on June 16 before falling in early August and rebounding in the fall. Revenue now comes from launch services, Starlink, defense contracts (over $12.7 billion per FedScout), and an AI business built on the xAI acquisition and the later purchase of Cursor.
Data & Statistics
- Share price: $171.09 on October 5 2026 (? 8% up).
- Morgan Stanley target: $300, implying ~75% upside.
- Options flow: 1.7 million contracts, including 1 million calls worth > $640 million.
- Implied volatility: 55 on October 5, down from below 50 the prior Thursday.
- Starlink subscribers: 12 million (Q2 2026), generating $4.291 billion in revenue, a 66% YoY increase.
- AI segment revenue: $2.561 billion in Q2 2026, up 247.5% YoY.
Official Statements & Responses
The firm advised investors to position ahead of the next Starship test flight and the Q3 earnings report due in late October. Musk confirmed the AI-unit rename on X, saying there would be “no more AI” and that “SI” is “better.” The SpaceXAI X account remained unchanged at the time of reporting.
The Pentagon announced on September 30 2026 that Musk would co-lead “Project Meridian,” a 120-day effort to identify technologies for future U.S. warfare.
Why It Matters
The rally shows how an analyst’s target and a branding decision can move a multibillion-dollar stock, directly affecting its founder’s wealth. It also signals investor confidence in SpaceX’s dual growth engines—Starship’s reusable launch capability and the AI compute business—despite still-negative GAAP earnings and heavy capital spending (over $18 billion in Q2 2026, with $15.8 billion allocated to AI).
Verbatim Quotes
- “Starship has helped out but it seems like Wall Street is piling in starting Q4,” — Charles Moon, technical trader, Prosper Trading Academy.
- “Adjusted for growth, SpaceX is one of the cheaper ways to play the strong optionality of the Space and Intelligence Economy,” — Adam Jonas, Morgan Stanley.
- “AI has taken over our economy, inflated valuations, stealing our public land for data centers, and increasing the net worth of AI CEOs like Elon Musk, who became our first ever trillionaire.” — Councilmember Shekar Krishnan.