SpaceX Stock Rises Overnight: Analyst Flags SpaceX Hyperscaler Status

SpaceX stock jumped over 1% after an analyst flagged the rocket maker as a hidden force behind Nvidia's earnings, pushing SPCX toward the $140 mark and back into the spotlight on Wall Street.

The move comes on the back of a blowout earnings report, a wave of Nvidia-linked deals, and a fresh round of price target hikes from major banks.

Here is what is driving the rally, where the stock stands on the charts, and the key levels traders are watching next.

SpaceX (SPCX) Stock Snapshot

Here is a quick look at where SPCX stands as of the last close, based on the latest quote data.

The stock closed well below its 52-week high of $225.64, but it has also climbed a long way from its 52-week low near $104.83. Volume in the last session came in lower than average, which suggests the recent move up did not come with heavy participation yet.

The 1-year target estimate of $219.22 sits far above the current price, though this figure reflects a broad analyst consensus and can shift as new data comes in.

What Is Driving SPCX Stock Right Now?

Shares moved higher after Deepwater Asset Management analyst Gene Munster said the company now makes up close to 5% of Nvidia's total revenue. That is up from about 3% last quarter.

Applied to Nvidia's $96.2 billion in Q2 revenue, that works out to nearly $4.8 billion tied to the rocket maker. Nvidia has not confirmed this figure. It comes from Munster's own math.

Munster also believes Nvidia shifted this revenue out of its ACIE segment and into the hyperscaler category. His reasoning is simple. The company is bringing 8 gigawatts of power online next year, putting it in the same league as Meta and Amazon.

Nvidia's hyperscaler segment grew 101% year over year last quarter, while ACIE grew 138%. Munster says if the figure had stayed counted under ACIE, that segment's growth would have looked even stronger, near 160%.

Latest Earnings and Business Updates

The company posted $7.81 billion in quarterly revenue, up 91.9% from a year earlier. That is a big jump by any measure.

The AI part of the business stood out the most. That segment jumped 247% to $2.6 billion. Starlink subscribers also doubled, reaching 12 million users.

A few other updates are feeding investor interest:

• Plans for a 125,000-acre Starship launch site in Louisiana, built for thousands of future launches.

• Announcement of Nvidia-powered AI satellites, set to launch in late 2027.

• Acquisition of Cursor, a move some analysts think could help push Grok into enterprise markets.

• President Donald Trump disclosed a personal investment in SpaceX, adding more attention from everyday investors.

Bank of America also weighed in on the firm's wireless connectivity plans. The bank thinks this expansion could actually help companies like T-Mobile, along with tower operators, rather than hurt them.

Wall Street Price Targets

Analyst targets on the stock are on the higher side right now.

Options activity also points to bullish positioning. Traders have been selling puts and using risk-reversal trades, which usually signals that big investors expect limited downside from here.

Technical Analysis: Daily Chart

On the daily chart, SPCX is trading near $139.63 after holding support at $130.61.

The stock is now testing a descending trendline resistance sitting around $142 to $145. The RSI reading of 53.5 points to neutral, slightly bullish momentum. Nothing extreme either way.

A close above $145 could open the door toward $150 to $155, and possibly $160 if buying pressure builds.

On the other side, a rejection from the $142 to $145 zone could send the stock back toward $135, and then $130.61 support. A break below that level would shift the picture bearish, with $120 to $125 as the next area to watch.

Technical Analysis: 1-Hour Chart

The shorter-term picture also leans bullish. The stock is moving inside an ascending channel on the 1-hour chart, trading around $139.58.

The stock is holding above its 20, 50, 100, and 200 EMAs, which is generally a healthy sign for short-term trend strength. RSI near 58 shows positive momentum without being overbought yet.

As long as it holds the $136 to $137 channel support, the path toward $141 to $144 resistance stays open. A clean break above $144 could bring $146 to $150 into view.

If it slips below $136, the ascending channel structure would break down, and a pullback toward $132 to $133 becomes more likely.

Key Price Levels Summary

The stock is at a point where the next move could go either way. The technical setup favors buyers for now, but resistance near $145 has held so far.

A confirmed breakout, backed by volume, would strengthen the bullish case for SpaceX. This is a technical read of current price action, not a promise of what happens next.

Disclaimer

This article is for informational purposes only and does not constitute financial, investment, or trading advice. Past performance and technical patterns do not guarantee future results. Always do your own research and consult a licensed financial advisor before making any investment decisions.