Key facts
- SpaceX shares rose 9.65% to $146.15, nearing the $150 psychological level.
- Elon Musk forecasts SpaceX's AI revenue will exceed its other revenue streams by September.
- Alphabet's Q2 filing shows a $94.18 billion stake in SpaceX, comprising 95% of its portfolio.
- A significant portion of Alphabet's SpaceX shares are subject to future sale restrictions.
SpaceX shares experienced a significant surge, rising 9.65% to $146.15, approaching a key psychological resistance level of $150. This rally follows a four-day advance that has boosted the stock by over 40%. The upward momentum is attributed to Elon Musk's optimistic forecasts for SpaceX's artificial intelligence business, with Musk predicting that AI revenue will surpass the company's other revenue streams combined by September and see substantial growth in the fourth quarter.
Further bolstering investor confidence, Alphabet, Google's parent company, updated its stock portfolio, revealing its SpaceX stake is now valued at $94.18 billion as of the end of the second quarter. This holding, comprising 551.19 million shares, represents approximately 95% of Alphabet's total investment portfolio, which is valued at $779.22 billion. The value of Alphabet's investment in SpaceX has seen an increase of over 8,000% since its original investment date.
However, a significant portion of Alphabet's SpaceX holding, approximately 80%, is subject to restrictions and cannot be sold in the near future. The remaining shares are slated for sale no earlier than the third quarter of 2027. Market analysis suggests that $150 is a critical psychological level for SpaceX stock, with immediate resistance near $147 and support around $145. A break below $145 could lead to further declines, with potential targets at $140 and $133.29.