Elon Musk's SpaceX Rises 6% as Harvard Reveals $2.2 Billion Stake in SPCX Stock

SpaceX (SPCX) shares rose more than 6% and moved toward $150 after Harvard Management Co. disclosed a $2.2 billion stake in Elon Musk’s rocket and satellite company. The disclosure came as SpaceX set a new company record by launching two Falcon 9 rockets only 38.5 minutes apart.

Harvard Management, which oversees Harvard University’s endowment, held about 12.94 million SpaceX shares as of June 30, 2026, its latest SEC filing showed. The position accounts for more than half of its $4.26 billion disclosed U.S. equity portfolio, making SpaceX its largest reported U.S. stock holding.

Harvard Makes SpaceX Its Largest Disclosed U.S. Stock Holding

Harvard’s investment adds another large institutional shareholder to SpaceX following the company’s June public offering. SpaceX completed its IPO at $135 per share, raising $75 billion and reaching a valuation of about $1.77 trillion at the offering price.

SpaceX stock has remained above its IPO price and recently approached $150. At that level, the company’s market valuation is around $1.85 trillion, based on the figures provided. Harvard’s 12.94 million-share position therefore gives the university substantial exposure to the publicly traded space company.

Saudi Arabia’s Public Investment Fund also reported a large SpaceX position. Its SEC filing showed approximately 154.15 million Class A shares, valued at about $26.3 billion as of June 30. The investment represented roughly **69.5% of the sovereign wealth fund’s disclosed U.S. equity holdings.

Other institutional investors have also built positions in SpaceX. Intesa Sanpaolo holds a stake valued at roughly $966 million, while the University of California has exposure worth about $1 billion.

SpaceX Stock Gains as Falcon 9 Sets Launch Cadence Record

The latest SpaceX stock advance also followed a new Falcon 9 launch record. The company completed two orbital launches from opposite U.S. coasts just 38.5 minutes apart, beating its previous 65-minute record set in August 2024.

The first Falcon 9 launched from Cape Canaveral Space Force Station in Florida at 9:12 p.m. EDT, carrying eight satellites for Globalstar. A second Falcon 9 lifted off from Vandenberg Space Force Base in California at about 9:50 p.m. EDT with USSF-366, a classified U.S. Space Force mission.

The first rocket had not released its payload when the second Falcon 9 departed. SpaceX completed a record 170 launches in 2025, while prediction-market traders are currently pricing a roughly 78% probability that the company will exceed 150 launches during 2026.

SpaceX is also preparing for another Starship test. Musk said earlier in August that the company was targeting Starship Flight 14 before the end of the month, although the timing remains subject to testing and launch preparations.

UBS Keeps $210 SpaceX Price Target as Starlink Expands

Amid this rally, UBS has reiterated its Buy rating and $210 SpaceX price target, citing expected growth from Starlink and rising computing demand linked to artificial intelligence. The target represents a further increase from the stock’s recent level near $150, although analyst price targets remain forecasts rather than assured outcomes.

UBS expects Starship and SpaceX’s next-generation V3 satellites to support further expansion of the Starlink broadband network next year. The firm also sees potential growth from SpaceX’s mobile strategy, including plans to integrate femtocell technology into Starlink terminals.

The analyst identified access to scarce low-band spectrum and sufficient network density as key requirements for the mobile strategy, particularly in densely populated urban markets. SpaceX’s ability to expand that service will depend partly on securing the necessary spectrum and deploying enough network capacity.