SpaceX stock surges 8% to $171.09, restoring Musk’s trillionaire status
SpaceX shares climbed nearly 8% on Monday, reaching their highest since June 16, when the company’s IPO closed at a record $201.80. The rally pushed Elon Musk’s net worth past $1.03 trillion, according to Forbes, restoring his trillionaire status. The move followed a Sunday note from Morgan Stanley analysts, who called SpaceX shares ‘cheap’ at current prices and cited upcoming milestones: AI…
Key points
- SpaceX shares rose 8% to $171.09, restoring Musk’s $1.03 trillion net worth
- Morgan Stanley analysts call stock ‘cheap’ and set a $300 price target, citing Starship and AI progress
- SpaceX earns $12.7B from Pentagon contracts and rents AI chips to Google and Anthropic
Revenue from AI chip rentals to Google and Anthropic and defense contracts—including over $12.7 billion from the Pentagon—are driving growth. Musk also joined the Trump administration’s Project Meridian, a defense initiative. Meanwhile, New York City Council members criticized AI’s economic impact, singling out Musk’s wealth amid debates over regulation.
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4 episodes →- SpaceX stock surges 8% to $171.09, restoring Musk’s trillionaire statusthis story
SpaceX stock climbs to highest since June, returning Musk to trillionaire status
CNBC Technology · 5 October 2026
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