SpaceX shares continued to surge, rising 10% to $177.13 by midday Monday. This follows a 19% jump on Friday’s debut. The gains are being driven by Elon Musk’s bold revenue forecasts, strong demand in secondary markets, and a broader market rally after news of a U.S.-Iran peace deal. Here’s a look at what’s behind the stock’s momentum and how its valuation stands now.
Over the weekend, SpaceX’s underwriters sold another 83.3 million shares, raising $11 billion by exercising the overallotment (greenshoe) option. This common IPO practice helps balance supply and demand. In this case, it shows that demand for SpaceX shares stayed strong after Friday’s debut, with buyers willing to take on more shares at the offering price.
Elon Musk also gave the stock a boost. Over the weekend, he posted on social media that SpaceX’s revenue could reach $1 trillion by 2030. That’s about three times higher than Morgan Stanley’s forecast and would mean annual growth of more than 100% from 2025. A key part of this plan is the launch of orbital AI data centers starting in 2028. SpaceX’s existing data centers, which it acquired when it bought xAI in February 2026, are already generating billions each month through deals with Anthropic and Google.
The overall market also helped. The S&P 500 climbed 1.9% on Monday after the U.S. and Iran announced an interim peace deal to end fighting in the Middle East.
On Friday, Cathie Wood’s ARK Invest bought about 3.3 million SpaceX shares across four of its exchange-traded funds. At Friday’s closing price, that stake was worth around $534 million. SpaceX can’t join the S&P 500 yet, since new public companies have to wait at least a year before they’re considered.
Right now, SpaceX is valued at about 33 times its estimated 2027 sales and 93 times its projected 2027 EBITDA.
