SpaceX (SPCX) Stock Climbs 1.5% After Wednesday’s 5.2% Rally on Starship and AI Momentum

Key Highlights

• SpaceX shares gained 1.5% in premarket hours Thursday, reaching $153.08 after Wednesday’s 5.2% surge
• The 14th Starship test flight is set for September 22, marking the first orbital deployment attempt
• Analysts have raised 2027 AI revenue projections to $67 billion from June’s $38 billion estimate
• HBK Investments acquired 237,500 SpaceX shares valued at approximately $40.6 million during Q2
• Wall Street maintains a “Moderate Buy” consensus rating with a $221.42 average target price

SpaceX shares extended their momentum Thursday with a 1.5% premarket advance to $153.08. This follows Wednesday’s impressive 5.2% rally that pushed the stock to $150.88 during intraday trading, accompanied by robust volume exceeding 108 million shares.

Space Exploration Technologies Corp., SPCX

The consecutive gains reflect a confluence of positive developments hitting the market simultaneously.

The company has set September 22 as the target date for Starship’s 14th test mission. This flight represents a milestone attempt to achieve orbital insertion of the upper stage and launch Starlink V3 satellites. According to Elon Musk, the V3 constellation could provide bandwidth capacity exceeding current capabilities by more than 100 times.

Additionally, SpaceX is developing a semiconductor manufacturing facility alongside Tesla in Austin, Texas. The company anticipates chip supply constraints will limit AI expansion and is proactively addressing this challenge.

Market sentiment received an additional boost from news of SK Hynix exploring discussions with Intel regarding U.S.-based memory chip production. Citi’s Atif Malik suggested these talks might strengthen Intel’s existing collaboration with SpaceX, particularly in advanced packaging technologies.

Wall Street Dramatically Raises AI Revenue Outlook

Analyst projections for SpaceX‘s AI-related revenue have undergone substantial upward revisions. Current forecasts place 2027 AI revenue at $67 billion, representing a significant jump from June’s $38 billion projection. Looking further ahead, the 2030 estimate has surged to $275 billion from approximately $110 billion during the same timeframe.

The hyperscaler backlog, which serves as a key indicator of AI infrastructure demand, reached approximately $2.5 trillion at Q2’s conclusion, marking a 100% year-over-year increase. Cloud service revenues surpassed $100 billion for the first time during Q2, while data center capital expenditure also crossed this benchmark.

SpaceX concluded Q2 operating 1.4 gigawatts of AI computing infrastructure and aims to scale up to 10 gigawatts before 2027 ends.

The company delivered Q2 revenue of $7.81 billion, representing 91.9% year-over-year growth and exceeding EPS projections by $0.17.

Fresh Institutional Investment and Wall Street Coverage

HBK Investments established a new SpaceX position during Q2, acquiring 237,500 shares with an approximate value of $40.6 million. This holding comprises roughly 0.4% of HBK’s overall portfolio allocation.

Other institutional investors also opened new positions during the quarter, including Syntax Research, Atwood and Palmer, and PayPay Securities Corp.

Wall Street coverage continues to trend positive. Deutsche Bank maintains a Buy designation 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 analysts, the consensus recommendation stands at “Moderate Buy” with a mean price target of $221.42.

However, certain risks persist. The stock currently carries a negative PE ratio of -1,676.44, and approximately 328 million shares are scheduled to become eligible for trading on September 24, potentially introducing supply pressure and price volatility.

Following its June public offering, the stock has fluctuated between a peak of $225.64 and a trough of $104.83.