The Week

SpaceX rose 2.2% this week to close at $151.21 on Friday, roughly 3 percentage points ahead of the S&P 500, which slipped 0.8%. Trading was choppy rather than directional: the stock opened near $149 on Tuesday, tagged a weekly high of $155, then pulled back to a low of $144.89 before settling back above $150 by Friday. Daily volume averaged around 101 million shares, about 27% above its 60-day median, so the tape was relatively active without turning into a decisive breakout. The week’s range, from $144.89 to $155, left the stock inside a wider band it has held since June.

Key Events

The week’s story revolved around AI hosting, Starship monetisation, and lockup chatter. SpaceX’s CFO said the next Starship flight will generate revenue for the first time, with the timing pinned to later this month, and signalled that orbital AI is closer than many investors assume. News reports also pointed to a new AI hosting deal worth $1 billion a month, or roughly $13 billion a year, alongside a separate AI build-out involving around $322 billion where data-centre construction may be shifting and expansion could slow.

On the Starlink side, reports suggested SpaceX plans to deploy its first V3 Starlink satellites with Starship as early as next week. In parallel, the UK deepened its reliance on SpaceX satellite services, spending close to $40 million. On the sell-side, Evercore ISI maintained a buy rating on SPCX. Several asset managers also added new positions after the IPO, with disclosed amounts ranging from about $1.6 million to $4.5 million, though these filings describe allocation moves rather than any direct link to this week’s price action.

The Week Ahead

The macro calendar picks up next week, with US releases covering the Empire State manufacturing index, retail sales, import prices, the NAHB housing index, and weekly EIA crude inventories. Retail sales on 16 September carries several readouts, and the market will be watching how resilient consumers remain. For SpaceX specifically, the near-term catalysts sit outside earnings: whether the reported V3 Starlink deployment proceeds next week, and whether the first Starship revenue actually lands before month-end. Lockup expiry discussions also picked up late in the week, so any updates on the float and shareholder behaviour will matter for sentiment.

In Short

SpaceX outperformed this week not through a clean rally, but by holding its ground while the broader tape slipped: up 2.2% against a 0.8% decline in the S&P 500. The news flow is a mix of scale and friction - a $13 billion annual AI hosting contract and imminent Starship monetisation on one side, data-centre adjustments and lockup overhang on the other. Valuation reflects that tension: PB sits around 15.7x and earnings are still negative, so the market is pricing growth rather than current profit. The latest daily flow showed net buying across large and small lots, without a clear contrarian signal. What comes next depends on whether Starship revenue converts from forecast to fact, how quickly the AI contract contributes, and how the float behaves as lockup conversations evolve.

This article is generated by LongbridgeAI from market data, for information only and not investment advice.