Space Exploration Technologies shares jump after multibillion launch contract and AI‑spectrum expansion plans
Space Exploration Technologies Corp. (SPCX) stock rose between 2.9% and 4.2% on Oct. 9, 2026 after the company announced a multibillion‑dollar launch contract and highlighted aggressive AI and spectrum initiatives. The quarterly report showed $7.81 billion of revenue, a net loss of $541 million and about $93.5 billion of cash on hand. Morgan Stanley reiterated an overweight rating with a $300 price target, citing the $40 billion financing plan for Nvidia AI chips and the acquisition of up to 14 MHz of low‑band spectrum.
Why it matters
The company’s strong revenue and massive cash balance give it the resources to fund the $40 billion AI‑chip financing and spectrum purchases, which could create new recurring‑revenue streams. Morgan Stanley’s $300 target and overweight call may attract additional buying pressure, supporting the recent price rally.
Key facts
- 1SPCX shares rose 4.13% on Oct. 9, 2026. stockstotrade.com
- 2The company reported $7.81 billion of quarterly revenue. stockstotrade.com
- 3SPCX posted a net loss of $541 million for the quarter. stockstotrade.com
- 4Cash on the balance sheet was roughly $93.5 billion. stockstotrade.com
- 5Morgan Stanley reiterated an overweight rating and a $300 price target. stockstotrade.com
- 6SPCX is pursuing about $40 billion of financing to buy Nvidia AI chips. stockstotrade.com
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.