SpaceX Stock Extends Rally as Starship, AI Deals Drive Growth

SpaceX stock traded around $151-$152 on Sept. 18, leaving SPCX on track for a fourth consecutive weekly gain as investors focused on the company’s expanding AI compute business and the next Starship test. The shares have recovered roughly 45% from their Aug. low near $104.83, although they remain well below the $225.64 post-IPO high reached after SpaceX began trading on Nasdaq in June.

The rally matters because SpaceX is simultaneously scaling three capital-intensive businesses: launch services, Starlink and AI infrastructure. The company plans Starship Flight 14 for Sept. 28, while new compute agreements are adding billions of dollars in contracted revenue and analysts now expect SpaceX sales to rise from about $44.8 billion in 2026 to more than $108 billion next year.

SpaceX Stock is Rising as Tailwinds Rise

SPCX stock has done well in the past few days, and this rally may continue as its tailwinds continue. First, the firm plans to launch the test of its Starship project 14 on September 28.

This flight will be the first one to send Starship into orbit around Earth, and will help it deploy Starlink V3 satellites. These satellites will have meaningful increases in capacity, data density, and power generation. Notably, Starship will likely be the vehicle it will use to deploy AI servers in space in the future.

Second, SpaceX stock is also rising as its AI data center business continues doing well. It recently received a new client who will pay it $1 billion a month starting in December this year. This unnamed company joins other top ones like Google and Anthropic that are paying it $950 million and $1.25 billion a month.

Revenue Growth to Supercharge

The AI business explains why analysts are optimistic about its revenue growth. Morgan Stanley, which participated in its IPO, believes it will generate over $3.4 trillion in revenue in 2033. Elon Musk has placed his revenue estimate at over $3.5 trillion.

These estimates are possible, especially when you consider the near-term forecasts. After generating $18 billion in annual revenue last year, analysts expect its revenue to jump to $44.82 billion this year. The most optimistic analysts believe its figure will jump to $51.2 billion, and it may exceed that.

After making over $44 billion this year, analysts expect the figure to grow to over $108 billion next year. The most optimistic analyst sees its revenue hitting $151 billion next year. These numbers would make it one of the fastest-growing companies in the world.

At the same time, the revenue surge will help it to fund its substantial capital expenditure. It spent over $18.3 billion in capital expenditures last quarter and it plans to spend billions more this year.

The ongoing revenue growth explains why analysts are highly bullish on the company. Julie Zhu, a Moffett Nathanson analyst, boosted her target from $131 to $142. William Blair reiterated its outperform rating, while Pivotal Research, Oppenheimer, Bernstein, and Morgan Stanley reiterated their bullish outlook.

SPCX Stock Price Technical Analysis

The four-hour chart shows that SpaceX shares have performed well over the past few weeks. It has surged from a low of $104.60 in August to the current $154.

The stock has formed an ascending triangle pattern, which is made up of a horizontal line and an ascending trendline. This pattern usually leads to more gains over time.

SpaceX stock has remained above the 50-period Exponential Moving Average (EMA). Therefore, the shares will likely continue rising as bulls target the psychological level of $200, which will benefit Elon Musk’s wealth. On the other hand, a retreat below the key support level of $140 will invalidate the bullish outlook.

This article is for informational purposes only and does not constitute financial or investment advice. Analyst targets, technical patterns and long-term revenue projections do not guarantee future stock performance.