# SpaceX stock surges 8% to $171.09, restoring Musk’s trillionaire status

Digest AI · Business & Funding · published 2026-10-05T20:10:13Z

Canonical: https://digestai.news/story/spacex-stock-surges-8-to-171-09-restoring-musks-trillionaire-status

## Summary

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 product releases, Starship test flights, and new neocloud contracts. They set a $300 price target, a 75% increase from Monday’s closing price of $171.09, urging investors to buy before the next Starship test or the third-quarter earnings report in late October.

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.

## 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

## Why it matters

SpaceX’s stock surge reflects investor confidence in its AI, Starship, and defense growth, but Grok’s market share remains small compared to OpenAI and Anthropic.

## Sources

1. [SpaceX stock climbs to highest since June, returning Musk to trillionaire status](https://cnbc.com/2026/10/05/spacex-stock-climbs-highest-since-june-returning-musk-to-trillionaire.html) (CNBC Technology, 2026-10-05)

Part of the developing story: [SpaceX Builds Orbital AI Data Center](https://digestai.news/thread/spacexai-to-add-660-000-gpus-nearing-1-44-million-total) (4 stories)

## Cite

Digest AI, "SpaceX stock surges 8% to $171.09, restoring Musk’s trillionaire status", 5 October 2026, https://digestai.news/story/spacex-stock-surges-8-to-171-09-restoring-musks-trillionaire-status

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