SpaceX shares surpass $2 trillion this week after 38% rebound
Business
SpaceX just saw its shares gain 5.45% this week, sending its value past the $2 trillion mark for a short time.
After a rocky start post-IPO in June, the stock has bounced back by 38% since August.
This comeback is thanks to SpaceX's big moves in AI tech, Starlink satellite growth, progress with Starship rockets, and growing exposure to government and defense spending.
SpaceX poured $18.4 billion into AI
A huge part of SpaceX's rebound comes from pouring money into AI: $18.4 billion last quarter alone, which is six times more than last year.
On top of that, it's leasing out its NVIDIA-powered infrastructure and has landed a massive $920 million-a-month cloud contract with Google (running through mid-2029), plus another deal with Anthropic.