-6.37% to $134.72 from $143.89
What moved SPCX
- A quarterly filing disclosed that one AI computing customer, identified as Anthropic, accounted for about 34.5% of quarterly revenue under a contract either party can cancel, keeping customer-concentration concerns in focus.
- Shares broke below a level they had held since October 22, when roughly 1.3 billion shares became freely tradable following an insider lock-up expiration.
- The European Union is fast-tracking antitrust approval for “Project Bromo,” a rival multi-company satellite venture positioned to compete with Starlink.
- Reports said the Starshield satellite service SpaceX provides to Ukraine was slowed after a White House order to the Defense Department, adding to pressure on the stock.
- The decline also came amid a broader technology-sector selloff tied to disappointing earnings from Amazon and Intel.
Sources: StreetInsider · StocksToTrade · Timothy Sykes · United States News Beep
+1.89% to $147.49 from $144.75
What moved SPCX
- SpaceX is in talks with major cell-tower owners, including Crown Castle, American Tower and Vertical Bridge Holdings, for access to at least 80,000 US cell sites to support a nationwide wireless carrier.
- The talks build on SpaceX’s earlier purchase of an 800 MHz low-band spectrum portfolio from Grain Management, a deal Elon Musk called the ‘last critical piece’ of the spectrum puzzle for nationwide mobile coverage.
- Bernstein analyst Laurent Yoon described a commitment to 80,000 sites as a potential ‘point of no return’ for SpaceX’s wireless ambitions, while cautioning it remains unclear how much capacity SpaceX will ultimately lease.
- Some analysts said they see no near-term competitive threat to incumbent carriers, pointing to Starlink’s technical hurdles and slow mobile-subscriber growth so far.
Sources: Bloomberg · CNBC · Yahoo Finance · TipRanks
+7.79% to $159.31 from $147.79
What moved SPCX
- Revenue rose 161% to $14.58 billion versus the $12.72 billion LSEG consensus, with adjusted earnings per share of 45 cents versus 13 cents expected
- The AI unit, branded Super Intelligence, grew revenue ninefold year over year to $7.56 billion, becoming the company’s largest segment and surpassing Starlink connectivity
- The company swung to net income of $4.4 billion from a year-earlier net loss of about $1.1 billion, its first profitable quarter as a public company
- CEO Elon Musk said on the earnings call that the boards of SpaceX and Tesla have formed special committees to discuss a possible merger
- During the quarter SpaceX closed its previously announced $60 billion acquisition of AI coding startup Cursor
Sources: CNBC · Yahoo Finance
-1.74% to $146.03 from $148.62
What moved SPCX
- Evercore ISI raised its price target on SpaceX to $275 from $230 while maintaining an Outperform rating, citing faster growth in the company’s computing capacity.
- Shares rose about 2.6% in premarket trading to roughly $152, with the move also linked to a halo effect from Tesla’s Roadster unveiling, which used SpaceX-developed thrusters.
- CNBC also tied the premarket gain partly to Blue Origin’s plans to ramp up launches of its New Glenn rocket, intensifying competitive attention on the launch sector.
Sources: TradingKey · CNBC
+1.25% to $162.57 from $160.57
What moved SPCX
- SpaceX agreed to buy an 800 MHz spectrum portfolio, covering up to 14 MHz of paired spectrum, from Grain Management for about $8 billion in cash; the deal requires FCC approval before closing.
- The purchase is designed to help SpaceX’s Starlink Mobile service work better inside buildings, extending the company’s ambitions from satellite connectivity into conventional terrestrial wireless service.
- News of the deal triggered a sharp selloff in Verizon, AT&T and T-Mobile shares, while lifting tower-REIT stocks such as Crown Castle and American Tower.
- SpaceX’s own shares rose modestly, about 1%, on the news.
- AT&T’s chief executive has argued that direct-to-cell satellite technology mainly fills coverage gaps in remote areas rather than replacing terrestrial carrier networks.
Sources: The Wall Street Journal · CNBC
-2.51% to $167.60 from $171.92
What moved SPCX
- SpaceX is reportedly in talks to raise about $10 billion in bank loans plus $30 billion in investment-grade bonds to fund the Nvidia chip purchase, structured as debt financing rather than equity.
- Apollo is reportedly leading efforts to arrange and place the debt, with Pimco among the investment managers said to be evaluating participation.
- The financing talks are at an early stage and could still fall apart, with key lenders and terms not yet finalized; any deal is expected to close in 2027.
- SpaceX shares fell about 2% in early trading, with the selling spreading to other space-sector stocks.
- SpaceX reported nearly $40 billion in debt in its latest quarterly financials, and its existing bonds trade near junk-bond levels, with fixed-income investors demanding higher yields to take on more of the company’s debt.
Sources: Reuters · Bloomberg · CNBC · 24/7 Wall St.
+7.63% to $171.09 from $158.96
What moved SPCX
- Morgan Stanley analysts called SpaceX “cheap” at current levels and set a $300 price target, citing upcoming AI product releases, Starship progress and additional neocloud contracts.
- Elon Musk confirmed talks with TSMC about building a facility that would supply chips exclusively to Tesla, SpaceX and xAI, part of the same Terafab discussions weighing on Intel.
- SpaceX completed three launches within roughly 13 hours, carrying astronauts, a classified U.S. intelligence payload, and Google’s first in-orbit AI experiment.
- The stock’s advance pushed Musk’s net worth back into trillionaire territory.
Sources: The Motley Fool · CNBC
+7.35% to $158.96 from $148.07
What moved SPCX
- Starship reached Earth orbit for the first time and deployed 26 Starlink V3 satellites, even though one Raptor engine shut down during the booster’s ascent.
- SpaceX also launched NASA’s Crew-13 mission to the International Space Station and carried a prototype satellite for Google’s Project Suncatcher, which is testing Tensor Processing Units in orbit.
- Shares rose about 7% as a roughly $920 million-a-month, 32-month AI-computing services agreement with Alphabet was set to begin this month.
- Elon Musk said separately that SpaceX is targeting 250 kilowatts of power for an Nvidia-based AI compute system, adding to the stock’s gains.
Sources: Yahoo Finance · TipRanks · Invezz
+2.59% to $149.24 from $145.47
What moved SPCX
- TD Cowen analyst John Blackledge initiated coverage of SpaceX with a Buy rating and $200 price target, building on momentum from Monday’s successful Starship orbital flight.
- Blackledge’s thesis centers on SpaceX renting out ground-based AI processing power to outside companies, a business he expects to overtake the rest of SpaceX’s operations financially within the next several quarters, with leasing capacity seen roughly tripling from about 2.1 gigawatts currently to around 6 gigawatts by the end of 2027.
- Clients already lined up for that compute capacity include Google and Anthropic, according to the note.
- A confidential Anthropic IPO filing reviewed by reporters showed Anthropic has committed to paying SpaceX as much as $84.5 billion for access to its Nvidia-powered computing infrastructure through 2029, though newer agreements reportedly let either side exit with 90 days’ notice.
Sources: Benzinga · Reuters
-1.36% to $152.71 from $154.81
What moved SPCX
- SpaceX delayed Starship Flight 14 — the vehicle’s first orbital mission and first revenue-generating flight, set to deploy 26 Starlink V3 satellites — by six days to no earlier than September 28, without publicly giving a reason.
- The flight had already slipped from earlier September 15 and September 22 targets.
- JPMorgan estimated retail investors sold roughly $570 million of SpaceX shares over the prior three weeks, including about $250 million in the most recent week.
- The selling followed a quarter in which SpaceX posted a $541 million loss as its AI-infrastructure buildout requires heavy investment.
- Baron Capital’s Ron Baron, one of SpaceX’s largest outside shareholders, remained bullish, estimating Starlink alone generates nearly $18 billion in current annual revenue.
Sources: Advanced Television · New Space Economy · Yahoo Finance