- SPCX rose 7.6% on Monday, extending a 15.5% two-session gain and leaving the stock 27% above its $135 June IPO price.
- Morgan Stanley analyst Adam Jonas reiterated Overweight and a $300 price target, arguing SpaceX trades at roughly 40% below the growth-adjusted multiple of mega-cap AI peers.
- Musk confirmed discussions with Taiwan Semiconductor Manufacturing on a potential dedicated chip plant that would exclusively serve SpaceX, Tesla, and the company's AI division, describing the talks as preliminary but substantive.
- A SpaceX subsidiary proposed a roughly 32-mile natural gas pipeline in Brevard County, Florida to deliver methane for Starship launches, signaling ground infrastructure buildout for higher flight cadence.
- Starship Flight 15, expected in late October or early November, is flagged as the biggest near-term catalyst since the June IPO, with Flight 16 due before year-end and Q3 earnings in late October.
- Q2 revenue reached $7.8 billion, up from $4.1 billion a year earlier, and Starlink subscribers doubled to 12 million, though monthly revenue per subscriber declined.
Quotes
“cheap and getting cheaper”
“It’s a launch company and a satellite connectivity provider and a mobile communications player and an AI infrastructure business”
“the talks as preliminary but substantive”
“A successful Starship catch, Jonas said, could be the biggest positive catalyst for the stock since its IPO”