SpaceX briefly reclaims $2 trillion market cap: Inside the massive stock rally fuelling Elon Musk’s company

Shares of Elon Musk’s SpaceX have been on a strong rally lately, as renewed investor optimism helps the stock recover from its post-listing losses. The optimism is being driven by the company’s expanding AI infrastructure ambitions, Starlink business, unmatched launch capabilities, progress on Starship, and growing exposure to government and defence spending.

So far this week, the stock has gained a further 5.45% to $150, marking its highest level in over a month. The rally has also briefly pushed SpaceX’s market capitalisation back above $2 trillion in today’s trade.