SpaceX Stock Price Rallies 11% After Elon Musk Boosts AI Revenue Optimism

Key Insights

• SpaceX stock price rose 11.46% to $148.30, bringing the shares close to the key $150.
• Elon Musk expects AI revenue to surpass every other SpaceX revenue.
• Nick Huber forecasts SPCX stock could fall to $25.

SpaceX stock price rose sharply after Elon Musk gave employees a stronger outlook for artificial intelligence revenue. Shares gained 11.46% to $148.30 after opening at $135.04. They reached $148.91 and traded as low as $134.01.

The move pushed SPCX stock near the $150 resistance level. It also extended the stock’s five-session gain to almost 40%. Musk’s comments came as the stock rebounded from an earlier decline that followed its first-ever earnings release.

SpaceX Stock Price Focus Shifts to AI Revenue

Musk told employees that AI revenue could exceed every other SpaceX revenue category in September 2026. Moreover, he expects AI revenue to significantly surpass other space revenue during the fourth quarter.

He also described AI development as important across both hardware and software operations. Musk also described AI and robots as central to SpaceX’s long-term future.

Meanwhile, Musk outlined plans to train Grok using SpaceX information and internal knowledge. He said employee ideas, beliefs, and technical knowledge would shape Grok’s training and values.

That strategy follows a sharp increase in AI spending reported in SpaceX’s first earnings release. Quarterly revenue nearly doubled to $7.8 billion from the prior-year period. However, spending rose to $18.3 billion, more than six times the earlier level. Most of that spending went toward artificial intelligence.

Additionally, Musk said Grok 4.7 could exceed xAI’s current models and prove more useful for engineering.

He also described Anthropic as a strong company that could release improved models. Cognition recently reviewed Grok 4.6 and ranked it above GPT-5.6 Sol. Its review placed the model behind only Opus 5 and Fable 5.

SPCX Stock Approaches $150 Before Share Unlock

The rally has moved SpaceX (SPCX) stock toward a key technical barrier near $150. A technical setup from TradingView places the price near $146.

Notably, recent green candles indicate stronger momentum after the earlier decline from above $200. The Parabolic SAR also flipped below price near $108.49, supporting the current bullish structure.

A daily close above $150 would mark a technical breakout under the provided setup. The next identified price zone sits between $160 and $165. However, a large share unlock arrives on August 20, with approximately 319 million shares potentially becoming available.

Morgan Stanley kept its Overweight rating unchanged before the unlock. Analyst Adam Jonas described the event as a possible buying opportunity. He set a $300 price target and outlined a $600 bull-case valuation.

Norway Fund Buys Stake While Nick Huber Turns Bearish

Meanwhile, Norway’s sovereign wealth fund disclosed a 0.05% SpaceX stake worth $1.22 billion. The fund owns more than 1% of each of the world’s ten biggest companies. Its holdings include about $62 billion in Nvidia stock.

The fund has also previously clashed with Tesla over Elon Musk’s large compensation packages. That history accompanies its newly disclosed SpaceX exposure.

At the same time, real estate buyer Nick Huber presented a bearish SpaceX valuation view. Huber said SpaceX stock could fall to $25 by year-end. He also said he now owns a Tesla after previously rejecting the idea.

Huber described Tesla as the best car he has owned and acknowledged its strong stock run. However, he still considers SpaceX overvalued.

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