SpaceX builds and launches reusable rockets and spacecraft for NASA, the military, and companies, and it runs Starlink, a satellite internet service for homes and businesses. In 2020, its Dragon capsule became the first privately built spacecraft to carry astronauts to the International Space Station. Its Falcon 9 rocket lands its first stage so the booster can fly again, which cuts launch costs, while Starlink beams internet from low-orbit satellites to small dishes for a monthly fee. SpaceX also owns xAI, maker of the Grok chatbot and owner of the social network X, and is building Starship, a fully reusable rocket meant to carry people to the Moon and Mars. Elon Musk founded SpaceX in 2002, and it is based in Starbase, Texas.
Company Size
10,001+
Company Stage
IPO
Headquarters
Starbase, Texas
Founded
2002
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Citi Research has reiterated a Buy rating on SpaceX after its Starship Flight 14 test, saying the launch reinforces the company's lead in space launch. Analysts said technical milestones, not quarterly results, are the main catalyst for investors. Flight 14 was Starship's first orbital entry and first revenue-generating mission. It deployed 26 next-generation Starlink V3 satellites and completed the vehicle's first de-orbit burn. One Raptor vacuum engine shut down early during ascent, but the control systems burned the other five longer to keep the intended trajectory. The Super Heavy booster made a soft splashdown in the Gulf off Starbase. Citi expects at least one more launch this year. Flight 15 should attempt to catch the Starship upper stage with the launch tower arms, a key step toward full reusability.
SpaceX shares rose on Friday following the announcement of an $8 billion deal to acquire Grain Management's nationwide portfolio of low-band wireless spectrum licenses. The stock opened approximately 4% higher, though the transaction still requires regulatory approval. The acquisition addresses technical limitations in satellite-based mobile connectivity. Low-band signals offer better building penetration and longer range than higher frequencies, potentially enabling Starlink Mobile to compete more directly with established telecoms like AT&T and Verizon. SpaceX reported 92% year-on-year revenue growth to $7.8 billion in its latest quarter. Adjusted EBITDA roughly tripled to $3.5 billion. The company holds $100 billion in cash and equivalents. Wall Street maintains a "Moderate Buy" rating with a mean price target of $224, suggesting 40% upside potential.
Cathie Wood's ARK investment funds sold $4.7 million worth of SpaceX shares on 8 October, following a $9.4 million sale two days earlier. The sales mark a reversal from aggressive summer accumulation of the stock. However, the pattern suggests portfolio rotation rather than bearish sentiment. On the same day, ARK also sold Advanced Micro Devices shares and invested $6.7 million in Kratos Defense, a defence technology company. ARK had previously built up its SpaceX position substantially through June, July, and August. The timing coincides with SpaceX acquiring Grain Management's 800 MHz spectrum portfolio, positioning Starlink Mobile to compete with major wireless operators. Wood's strategy typically involves taking profits from strong performers and redirecting capital towards opportunities she views as offering better upside potential. ARK is increasingly focusing on what it terms "physical AI" — autonomy, drones, and aerospace applications where artificial intelligence moves beyond data centres into real-world machines.
Elon Musk recently praised Nvidia GPUs as the best available option for AI processing, stating that SpaceX will exclusively use them. Some of those processors will head into space next year on the company's first data center test satellites. SpaceX is raising $40 billion to purchase more Nvidia chips. The deployment will test whether Nvidia's latest processors are ready for the space economy or need enhancements for orbital conditions. Nvidia's market capitalisation is approaching $6 trillion. The chipmaker more than doubled its revenue year over year in its fiscal 2027 second quarter, posting a 62% net profit margin. The company is forecasting 70% revenue growth for fiscal 2028. Nvidia trades at a price-to-earnings ratio of 28.5, below the tech industry average.
Crown Castle shares jumped 13% after SpaceX agreed to buy nationwide low-band spectrum from Grain Management for approximately $8 billion in cash. Bernstein analysts said the deal keeps alive the possibility of SpaceX building a ground network, which would make it a new rent-paying tower tenant. Investors had worried that Starlink's satellite-to-phone service could bypass cell towers entirely. However, analysts note SpaceX would need ground towers for reliable building penetration in urban areas. Tower companies earn revenue per tenant on each site. AT&T, Verizon, and T-Mobile — expected to generate nearly 90% of Crown Castle's 2025 site rental revenue — fell 5% to 7% on concerns about SpaceX as a competitor. Consensus estimates project Crown Castle's revenue at $4.2 billion by 2028, meaning a SpaceX build would represent additional growth not currently modelled.