Quick Summary
- Shares of SpaceX reached $146.23 on Monday, gaining 4.5% while major indices declined approximately 0.5%
- Nvidia revealed approximately $21 billion in SpaceX holdings; Alphabet’s $94 billion stake represents over 100x return since initial 2015 investment
- Approximately 319 million insider units become tradable August 20, with roughly 4.9 billion unlocking before year-end
- UBS analysts set Buy rating with $210 target; Phillip Securities maintains Sell rating at $75
- Goldman Sachs projects global space industry will expand to $1.8 trillion by 2035
Shares of SpaceX (SPCX) advanced to $146.23 during Monday’s trading session, gaining 4.5% amid a series of 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 approximately 0.5% during the same session, SpaceX’s performance demonstrated notable relative strength.
According to SEC filings, Nvidia’s SpaceX holdings reached approximately $21 billion in value by the conclusion of Q2. The semiconductor giant’s position consisted of 122.8 million Class A units.
Alphabet’s disclosure revealed an even more substantial investment. The Google parent company’s SpaceX stake stood at approximately $94 billion as of June 30, representing explosive growth from its original $900 million commitment made in 2015āan appreciation exceeding 100 times the initial investment. Reuters’ analysis identified Alphabet as SpaceX’s largest institutional shareholder.
Harvard Management Co.’s filing showed a $2.2 billion SpaceX position, comprising a significant portion of its $4.3 billion disclosed US equity holdings. Norway’s government pension fund reported owning a 0.05% stake valued at slightly more than $1.2 billion as of the second quarter’s end.
Additional institutional holders revealing positions include Fidelity Investments, Saudi Arabia’s Public Investment Fund, and Hancock Prospecting, owned by Australian mining magnate Gina Rinehart.
Share Lockup Expiration Approaching
Trading dynamics for SPCX shares have been influenced by supply considerations since the company’s public debut. The stock declined beneath $105 during July, significantly below its $135 IPO price, as market participants anticipated potential insider selling pressure.
Approximately 319 million shares held by early stakeholders become eligible for sale on August 20. An additional 700 million-plus units unlock during September, followed by more than 650 million in October. Through year-end, approximately 4.9 billion shares will enter the tradable float, representing roughly 70% of non-Musk ownership.
The stock rebounded following impressive Q2 financial results released August 4. SpaceX delivered second-quarter revenue of $7.8 billion, representing 92% year-over-year growth. AI-related revenue exploded 247%, including $1.6 billion generated from newly signed cloud services contracts. SPCX surged 23% during the earnings report week, followed by an additional 5% gain in the subsequent period.
Wall Street Divided on Valuation
UBS maintained its Buy recommendation with a $210 price objective, highlighting SpaceX’s cloud infrastructure business and artificial intelligence model initiatives. The investment bank projects US Starlink subscriber growth from approximately 3 million currently to 20 million by 2031.
Phillip Securities takes a contrarian view. The brokerage retained its Sell rating with a $75 target, citing revenue concentration concerns. A single AI client represented 19.5% of Q2 revenue, increasing from under 10% in the prior-year period. The company also recorded a $542 million operating loss during the quarter.
Goldman Sachs estimates the worldwide space economy will reach $1.8 trillion by 2035. Investment in the space sector exceeded $36 billion during Q1 2026 alone, establishing a new quarterly record.
SpaceX’s public offering generated more than $86 billion in proceeds, establishing it as the largest IPO in market history.
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