On August 25, SpaceX rose 3.23% in regular trading, trading at $139.53/share, with turnover of $3.742 billion. The stock rebounded after previously falling below its IPO price due to a 319-million-share unlock earlier last week, driven by multiple positive catalysts.
On the news front, JPMorgan reaffirmed its Overweight rating on SpaceX with a $240 price target, citing growing confidence in Grok AI prospects. On the same day, Elon Musk announced SpaceX plans to launch its first AI satellites equipped with Nvidia Vera Rubin NVL72 chips in Q4 next year, with Nvidia confirming that SpaceXAI will deploy its Vera CPUs to accelerate agentic AI applications at scale. The company has also filed with the FCC to deploy up to one million AI-capable satellites.
Additionally, ARK Invest holds nearly 5 million SpaceX shares valued at approximately $676 million, with its flagship ARK Innovation ETF listing SpaceX as its third-largest holding at 5.8% of the portfolio. A separate disclosure revealed that President Trump purchased up to $50,000 in SpaceX stock in June.
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