Key Highlights SpaceX shares climbed 1.5% in early Thursday trading to $153.08 after surging 5.2% the previous session The company has set September 22 as the target date for Starship’s 14th
SpaceX shares extended their rally in premarket hours Thursday, ticking up 1.5% to reach $153.08. This advance followed Wednesday’s strong 5.2% climb, which pushed the stock to $150.88 in midday action as trading volume exceeded 108 million shares.
Space Exploration Technologies Corp., SPCX
Multiple positive developments are converging to drive the consecutive trading sessions higher.
The aerospace company has confirmed September 22 as the planned date for its 14th Starship test mission. This launch represents a milestone attempt to achieve orbital insertion with the vehicle’s upper stage while deploying next-generation Starlink V3 satellites. According to Elon Musk, the V3 satellite constellation could provide bandwidth capacity exceeding current capabilities by more than 100-fold.
In parallel, SpaceX is collaborating with Tesla on a semiconductor production facility located in Austin, Texas. The venture stems from SpaceX’s strategic assessment that chip supply constraints will emerge as a critical limitation for artificial intelligence expansion, prompting the company to secure future capacity.
Market sentiment received an additional boost from news that SK Hynix has engaged in discussions with Intel regarding U.S.-based memory chip manufacturing. Citi’s Atif Malik noted these talks could strengthen Intel’s existing relationship with SpaceX, particularly around advanced packaging technologies.
Financial analysts have substantially revised their artificial intelligence revenue expectations for SpaceX in recent months. Current projections for 2027 AI-related revenue have reached $67 billion, representing a significant jump from the $38 billion forecast issued just three months ago in June. Looking further ahead, 2030 estimates have climbed to $275 billion from approximately $110 billion during the same timeframe.
Hyperscaler contract backlog, which serves as a key indicator of AI infrastructure demand, closed the second quarter at approximately $2.5 trillion, marking a year-over-year doubling. Cloud service revenues surpassed the $100 billion quarterly milestone for the first time in Q2, while data center capital expenditures also crossed that benchmark.
SpaceX concluded the second quarter with 1.4 gigawatts of AI computing infrastructure and has established an ambitious goal of reaching up to 10 gigawatts by year-end 2027.
The company delivered Q2 revenue of $7.81 billion, representing 91.9% year-over-year growth, while exceeding earnings per share projections by $0.17.
HBK Investments established a fresh stake in SpaceX throughout the second quarter, acquiring 237,500 shares with an estimated value of $40.6 million. This holding accounts for roughly 0.4% of HBK’s overall investment portfolio.
Additional institutional investors also opened new positions during the quarter, including Syntax Research, Atwood and Palmer, and PayPay Securities Corp.
Wall Street analyst sentiment continues to skew positive. Deutsche Bank maintains a Buy recommendation with a $255 price objective. Evercore assigns an Outperform rating alongside a $230 target. Wolfe Research has confirmed its Outperform stance with a $175 price target.
Across 43 analyst ratings, the consensus lands at “Moderate Buy” with an average price objective of $221.42.
Potential headwinds persist. The stock carries a negative price-to-earnings ratio of -1,676.44, and approximately 328 million additional shares are scheduled to become eligible for trading on September 24, which could introduce selling pressure and increased volatility.
Following its June initial public offering, the stock has fluctuated between a peak of $225.64 and a trough of $104.83.
The post SpaceX (SPCX) Stock Surges on AI Growth Projections and Upcoming Starship Orbital Test appeared first on Blockonomi.
