Key Highlights
- SpaceX shares advanced 1.5% in Thursday premarket trading to $153.08, extending Wednesday’s 5.2% rally
- The company has set September 22 as the target date for Starship’s 14th test flight, marking its first orbital mission attempt
- Analyst projections for SpaceX’s 2027 AI-related revenue have surged to $67 billion from $38 billion estimated in June
- HBK Investments established a fresh stake of 237,500 shares valued at approximately $40.6 million during Q2
- The average analyst price target stands at $221.42 with a “Moderate Buy” consensus rating
Shares of SpaceX continued their upward trajectory Thursday morning, gaining an additional 1.5% in premarket activity to reach $153.08. This follows Wednesday’s robust 5.2% advance that saw the stock close at $150.88, accompanied by trading volume exceeding 108 million shares during the midday session.
Space Exploration Technologies Corp., SPCX
The consecutive trading session gains reflect a confluence of multiple positive developments affecting the aerospace company.
The company has publicly confirmed September 22 as the launch window for Starship’s 14th experimental flight. This mission represents a significant milestone, as it will mark the vehicle’s inaugural attempt to achieve orbital insertion with its upper stage while deploying Starlink V3 satellites. According to Elon Musk’s statements, the Starlink V3 constellation promises bandwidth capabilities exceeding current network performance by more than 100-fold.
Additionally, SpaceX is collaborating with Tesla on constructing a semiconductor manufacturing plant in Austin, Texas. The strategic move reflects SpaceX’s anticipation that chip supply constraints could emerge as a critical limitation for artificial intelligence expansion, prompting proactive infrastructure development.
Market sentiment also benefited from emerging reports of potential negotiations between SK Hynix and Intel regarding U.S.-based memory chip production. Citi’s analyst Atif Malik suggested these talks might broaden Intel’s existing collaboration with SpaceX, particularly enhancing advanced packaging technologies.
Dramatic Surge in AI Revenue Projections
Financial analysts have significantly raised their artificial intelligence revenue expectations for SpaceX in recent months. Current projections for 2027 have climbed to $67 billion, representing a substantial increase from the $38 billion forecast issued in June. Looking further ahead, the 2030 revenue estimate has jumped to $275 billion from approximately $110 billion during the same timeframe.
The hyperscaler backlog, which serves as a comprehensive indicator of AI infrastructure demand, reached approximately $2.5 trillion at the conclusion of Q2, marking a year-over-year doubling. Cloud service revenues surpassed the $100 billion milestone for the first time during Q2, while data center capital expenditures also exceeded that benchmark.
As of Q2’s conclusion, SpaceX operated 1.4 gigawatts of AI computational infrastructure, with ambitious plans to scale up to 10 gigawatts by year-end 2027.
The company’s second quarter financial results showed revenue of $7.81 billion, reflecting 91.9% year-over-year growth, while exceeding earnings per share projections by $0.17.
Institutional Investment Activity and Expert Analysis
During the second quarter, HBK Investments established a new SpaceX position by acquiring 237,500 shares with an estimated value of $40.6 million. This investment comprises roughly 0.4% of HBK’s overall portfolio allocation.
Multiple additional institutional investors also entered new positions during the same quarter, including Syntax Research, Atwood and Palmer, along with PayPay Securities Corp.
Professional analyst sentiment continues to trend favorably. Deutsche Bank maintains a Buy recommendation alongside a $255 price objective. Evercore assigns an Outperform rating with a $230 target price. Wolfe Research has confirmed its Outperform stance with a $175 price target.
Across 43 analyst firms, the consensus recommendation registers as “Moderate Buy” with a mean price target of $221.42.
However, certain risk factors warrant consideration. The stock currently carries a negative price-to-earnings ratio of -1,676.44, and approximately 328 million additional shares are scheduled to become eligible for trading on September 24, potentially introducing increased supply pressure and price volatility.
Following its June initial public offering, SpaceX shares have fluctuated between a peak of $225.64 and a trough of $104.83.
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