SpaceX Stock Swings $300B as Musk Doubles AI Bet, Pulls Forward $1T Revenue Goal
SPCX sits 28% above its 52-week low of $104.83 on elevated volume (2.0× avg).
Summary
SpaceX shares swung violently last week — down 14% in one session, then rebounding over 20% — as the market digested its first post-IPO earnings and the expiry of insider lockups. The Q2 report beat expectations with $7.8B in revenue, but heavy AI spending spooked some investors. Musk responded by doubling down: AI compute capacity is now targeted at 10 gigawatts next year, up from a prior 5 GW, and the internal $1 trillion revenue target has been pulled forward to 2030, with a real shot at 2029. Starlink doubled its user base to 12 million, and 86% of recent capex went to AI. This follows the June IPO at $135, the $60B Anysphere acquisition, and the Q2 filing that showed 92% revenue growth. The scale of the AI infrastructure commitment and the accelerated revenue timeline reset the growth narrative — traders will key off execution milestones and the next quarterly update.
At the time of this announcement, SPCX was trading at $134.10 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.8T. The 52-week trading range was $104.83 to $225.64. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Binance News.