SpaceX shares traded around $151–$152 on Sept. 18, keeping SPCX on track for a fourth consecutive weekly gain as investors focused on the company's expanding AI compute business and the next Starship test flight. The stock has now jumped in four straight weeks, and Elon Musk's net worth has continued rising alongside the share price, potentially crossing the $1 trillion mark.

The shares have recovered roughly 45% from their August low near $104.83, although they still trade about one-third below the $225.64 post-IPO high reached after SpaceX began trading on Nasdaq in June.

The rally matters because SpaceX is simultaneously scaling three capital-intensive businesses: launch services, Starlink, and AI infrastructure. The company has scheduled Starship Flight 14 for Sept. 28, while new compute agreements are adding billions of dollars in contracted revenue. Analysts now expect SpaceX sales to rise from about $44.8 billion in 2026 to more than $108 billion next year.

Tailwinds Behind the Rally

First, Starship Flight 14 is set to on Sept. 28. The flight will be the first to send Starship into orbit around Earth and is intended to help deploy Starlink V3 satellites, which will deliver meaningful increases in capacity, data density, and power generation. Notably, Starship is expected to serve as the vehicle SpaceX uses to deploy AI servers in space in the future.

Second, the company's AI data center business continues to perform strongly. SpaceX recently signed a new client that will pay it $1 billion per month starting in December this year. The unnamed company joins other major customers such as Google and Anthropic, which are paying $950 million and $1.25 billion per month, respectively. Once the December contract takes effect, those three agreements alone will represent roughly $3.2 billion in combined monthly payments to SpaceX.

Revenue Growth to Supercharge

The AI business explains why analysts are optimistic about SpaceX's revenue trajectory. Morgan Stanley, which participated in the company's IPO, believes SpaceX will generate more than $3.4 trillion in revenue in 2033. Elon Musk has placed his own revenue estimate at over $3.5 trillion.

These long-term projections rest on rapidly expanding near-term forecasts. After generating $18 billion in annual revenue last year, SpaceX is expected to post revenue of $44.82 billion this year, with the most optimistic analysts projecting $51.2 billion — a figure the company may exceed. Looking ahead, analysts expect revenue to grow to more than $108 billion next year, more than double the 2026 projection, with the highest estimate at $151 billion. These numbers would make SpaceX one of the fastest-growing companies in the world.

The revenue surge would also help fund the company's substantial capital expenditure. SpaceX spent more than $18.3 billion on capital expenditures last quarter and plans to spend billions more this year. That single quarter of spending exceeded the roughly $18 billion in revenue the company generated in all of last year, a measure of how capital-intensive the simultaneous buildout in launch, satellites, and AI infrastructure has become.

The ongoing revenue growth explains why analysts remain highly bullish on the company. Julie Zhu, an analyst at Moffett Nathanson, raised her price target from $131 to $142. William Blair reiterated its outperform rating, while Pivotal Research, Oppenheimer, Bernstein, and Morgan Stanley all maintained bullish outlooks on the stock.

SPCX Stock Technical Analysis

On the four-hour chart, SpaceX shares have performed well in recent weeks, surging from a low of $104.60 in August to around $154 currently.

The stock has formed an ascending triangle pattern — composed of a horizontal resistance line and an ascending trendline — a formation that typically precedes further gains over time. SpaceX shares have also remained above the 50-period Exponential Moving Average (EMA).

Based on this technical setup, the shares are seen as likely to continue rising, with bulls targeting the psychological level of $200 — a move that would further benefit Elon Musk's wealth. On the other hand, a retreat below the key support level of $140 would invalidate the bullish outlook.

This article is for informational purposes only and does not constitute financial or investment advice. Analyst targets, technical patterns, and long-term revenue projections do not guarantee future stock performance.

This article is based on reporting originally published by The Market Periodical on Sept. 19, 2026: SpaceX Stock Extends Rally as Starship, AI Deals Drive Growth.