SpaceX stock climbs to highest since June, returning Musk to trillionaire status — SkimNews
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- SpaceX shares rose almost 8% on Monday to their highest since mid-June, restoring Elon Musk to trillionaire status at roughly $1.03 trillion per Forbes, factoring in his Tesla and SpaceX holdings
- Morgan Stanley analysts called the stock "cheap" at Monday's $171.09 close and set a $300 price target representing ~75% upside, citing future AI product releases, Starship progress, and additional neocloud contracts
- SpaceX conducted multiple historic flights in one day last week, including a crewed NASA mission to the International Space Station and a separate launch carrying Google AI chips into orbit
- Musk was appointed co-lead of the Pentagon's Project Meridian last Wednesday, an initiative to identify weapons and military capabilities for future wars; SpaceX has earned over $12.7 billion from Defense Department work to date
- SpaceX is generating hefty AI revenue by renting capacity to Google and Anthropic via the xAI and Cursor acquisitions, and Musk renamed the AI division from SpaceXAI to SpaceXSI over the weekend to match Trump's branding
- Musk was notably absent from a New York City Council hearing on AI regulation where OpenAI, Anthropic, Google, and Meta testified; Councilmember Shekar Krishnan noted AI has "inflated valuations" and made Musk "our first ever trillionaire"
Why it matters: SpaceX's 8% single-day rally added tens of billions to Musk's net worth on the strength of one analyst note, while his Pentagon advisory role and compute-rental business to Google and Anthropic deepen his entwinement with both the Trump White House and the federal government — over $12.7 billion in Defense revenue to date.
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