Key Highlights
- Shares of SpaceX surged 4.5% to finish at $146.23 on Monday, outperforming the broader market which declined approximately 0.5%
- Alphabet’s position in SpaceX reached approximately $94 billion, representing a 100-fold return on its 2015 investment; Nvidia revealed a roughly $21 billion stake
- Approximately 319 million insider-owned shares become tradable on Aug. 20, with nearly 4.9 billion shares unlocking before year-end
- UBS maintains a Buy recommendation with a $210 target price; Phillip Securities keeps a Sell rating at $75
- Goldman Sachs projects the worldwide space industry will expand to $1.8 trillion by 2035
Shares of SpaceX (SPCX) advanced 4.5% to close at $146.23 on Monday, buoyed by regulatory filings that revealed substantial institutional ownership stakes in the aerospace company.
Space Exploration Technologies Corp., SPCX
While the S&P 500 and Dow Jones Industrial Average each declined roughly 0.5% during the same trading session, SpaceX’s performance demonstrated notable strength.
In its SEC filing, Nvidia revealed that its SpaceX holdings were valued at around $21 billion as of the second quarter’s conclusion. The semiconductor giant owned 122.8 million Class A units, according to the regulatory document.
Alphabet’s disclosure showed an even more significant holding. The Google parent company reported a SpaceX position worth approximately $94 billion at the end of June, representing a remarkable appreciation from its original $900 million investment made in 2015—a gain exceeding 100 times the initial amount. According to Reuters’ examination, Alphabet ranks as SpaceX’s largest single institutional shareholder.
Harvard Management Co. disclosed holding $2.2 billion in SpaceX, accounting for a substantial portion of its $4.3 billion publicly disclosed US equity holdings. Norway’s government pension fund global reported owning a 0.05% stake valued at slightly more than $1.2 billion as of the end of June.
Additional institutional investors revealing SpaceX positions include Fidelity Investments, Saudi Arabia’s Public Investment Fund, and Hancock Prospecting, owned by Australian mining magnate Gina Rinehart.
Upcoming Share Lock-Up Expiration
The balance between supply and demand has significantly influenced SPCX trading activity since its public debut. The stock fell beneath $105 in July, trading substantially below its $135 IPO pricing, as market participants anticipated potential selling pressure from early-stage investors.
Approximately 319 million shares owned by early-stage investors will become eligible for sale on Aug. 20. An additional 700 million shares unlock in September, followed by more than 650 million in October. By the conclusion of the year, approximately 4.9 billion shares will be freely tradable, representing roughly 70% of shares not controlled by Elon Musk.
The stock rebounded following impressive Q2 financial results released on Aug. 4. SpaceX announced second-quarter revenue of $7.8 billion, representing a 92% year-over-year increase. Artificial intelligence-related revenue soared 247%, including $1.6 billion from newly signed cloud services contracts. SPCX climbed 23% during the week earnings were announced, then gained an additional 5% in the subsequent week.
Wall Street Analysts Divided on Valuation
UBS confirmed its Buy rating with a $210 price objective, highlighting SpaceX’s cloud infrastructure business and artificial intelligence model capabilities. The investment bank anticipates US Starlink subscriber growth from approximately 3 million currently to 20 million by 2031.
Phillip Securities takes a contrarian view. The research firm kept its Sell rating and $75 price objective, citing concerns about customer concentration risks. A single AI client represented 19.5% of second-quarter revenue, increasing from below 10% in the prior year period. The company also recorded an operating loss of $542 million in Q2.
Goldman Sachs projects the global space economy will reach $1.8 trillion by 2035. Investment in the space industry exceeded $36 billion during Q1 2026 alone, establishing a new record.
SpaceX’s initial public offering generated more than $86 billion in proceeds, establishing it as the largest IPO in recorded history.
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