Why Is SpaceX Stock Rising Today? Here's What's Behind the SPCX Surge

SpaceX stock closed Friday at $151.21, up 2.04% on the day. The gain came after another AI compute deal added fuel to an already strong run in SpaceX share price action. SPCX stock has been trading inside a tight $145 to $155 range since September 3. Traders following SpaceX stock price moves are watching to see which side breaks first. The rally follows a busy week of SpaceX news, including the new AI compute deal, a third round of insider share unlocks earlier this month, and reports that the company is adjusting its data center buildout plans. SpaceX Stock News: Why Is SPCX Going Up Today? William Blair analyst Louis DiPalma kept his Outperform rating on SpaceX stock this week. He pointed to a new AI compute agreement worth about $1.11 billion a month. That works out to roughly $13.3 billion a year, starting December 1. DiPalma said this is SpaceX's fourth compute deal above $11 billion in annual revenue in just four months. He noted that SpaceX's finance chief, Bret Johnsen, has grown more confident about hitting a $100 billion annual revenue run rate by the end of 2026. Other recent SpaceX AI partners include Anthropic, at $1.25 billion a month, and Google, at $920 million a month. SpaceX Stock Price Today, By the Numbers Metric Value Close Price $151.21 (+2.04%) After Hours $150.28 (-0.62%) Open $150.07 Day's Range $145.92 - $151.85 52-Week Range $104.83 - $225.64 Market Cap $1.99 trillion Volume 78,755,857 PE Ratio -- EPS (TTM) -1.10 1-Year Target Est. $220.68 Is SpaceX Stock Already Priced for Perfection? SpaceX has about 13.18 billion shares outstanding as of June 30. At $151.21 a share, that puts its SpaceX share price near a $1.99 trillion market value. The company holds $100 billion in cash and marketable securities against $39.4 billion in debt. Net that out, and enterprise value sits closer to $1.93 trillion. Second-quarter revenue came in at $7.81 billion, with adjusted EBITDA of $3.54 billion. Annualized, that puts SpaceX stock near 62 times revenue and 137 times adjusted EBITDA. There is no GAAP earnings multiple, since SpaceX posted a $541 million net loss for the quarter. To justify even a rich 30 times sales multiple, SpaceX would need close to $64 billion in yearly revenue. That is more than double its current quarterly pace annualized. SpaceX News: Where SpaceX's Growth Is Really Coming From Connectivity, mainly Starlink, remains the biggest piece of the business. It brought in $4.29 billion last quarter, about 55% of total revenue. Starlink subscribers doubled to 12 million. But average revenue per user dropped to $66 from $85, showing SpaceX is trading some pricing power for faster growth. AI revenue is the standout.