SpaceX has rejoined the "club" of companies with a market capitalization of $2 trillion after nearly two months

SpaceX's market value has surpassed $2 trillion for the first time since July 6, according to MarketWatch. Only six U.S. companies are worth more. The growth was driven by a reassessment of SpaceX’s prospects in the artificial intelligence market and the expected integration of Starlink terminals into future Tesla Cybercab robotaxis.

During Thursday's trading session, SpaceX's stock price jumped 6.4%, briefly surpassing the $150 mark. Over the past month, the company's stock has risen by more than 12%.

The stock’s recovery is taking place amid a broad market rally and optimism among analysts, who continue to see potential in the company’s shares. According to FactSet, the average target price for SpaceX shares is $225.87, which implies a potential 50% increase from current levels.

Oppenheimer analyst Timothy Horan believes that SpaceX will be one of the main beneficiaries of the current shortage of AI resources, according to MarketWatch. He said that revenue in this area is growing faster than expected as the company develops new, more functional models. Horan noted that SpaceX “is capable of scaling up its infrastructure faster than anyone else and uses it, along with its data, to rapidly improve its own models.”

The share of “bullish” recommendations for SpaceX stock has reached 75% of the total number of ratings: 31 out of 41 analysts recommend buying the stock. A month ago, there were only 28 “buy” recommendations. Three analysts hold a “bearish” stance.

Shares of another of Elon Musk’s companies, Tesla, also posted a solid 5.4% gain on Thursday amid anticipation of the unveiling of the Cybercab robotaxi. SpaceX may play a role in this project, given the close collaboration between the two companies, according to MarketWatch. As Musk announced in July, Starlink satellite internet will be integrated into the Cybercab. This will help prevent loss of connection with the vehicles and situations involving “missing robotaxis.” In addition, the connection can be used for entertainment—for example, to watch 4K sports broadcasts right from the passenger compartment.

However, the Cybercab presentation itself has not yet impressed investors: Tesla did not disclose the scale of the robotaxi’s commercial launch, and the advertised ability to book a ride in Austin turned out to be unavailable in the app, as Bloomberg found. The company’s stock fell 1.8% in premarket trading on September 4. SpaceX’s stock, however, was up slightly.

This article was AI-translated and verified by a human editor