TLDR
- SpaceX stock climbed about 9% to roughly $145.59.
- Starlink launched 24 satellites aboard a Falcon 9 rocket.
- Morgan Stanley maintained a $300 target and $600 bull case for SpaceX.
- Starlink’s subscriber base doubled over the past year.
- Grok 4.6 scored 61 on the Artificial Analysis Intelligence Index, matching GPT-5.6 Sol Max
SpaceX stock surged more than 9% on Wednesday as investors reacted to a successful Starlink launch, a bullish Morgan Stanley outlook, and the release of Grok 4.6. SPCX shares traded near $145.87, climbing from Tuesday’s close of $133.29 and moving back above the company’s $135 IPO price.
Source: KnockOutStocks
The rally comes after a volatile period for Elon Musk’s newly listed company. SpaceX went public on June 12 at $135 per share before reaching much higher levels and later falling below its offering price. Wednesday’s move puts the stock back above that key level as attention returns to Starlink growth and the company’s expanding artificial intelligence business.
Starlink Launch Adds 24 Satellites as Subscriber Base Grows
SpaceX successfully launched 24 Starlink satellites from Vandenberg Space Force Base in California aboard a Falcon 9 rocket. The Starlink 17-49 mission marked the company’s 51st West Coast flight of 2026. Booster B1103 completed its fifth mission before landing on the “Of Course I Still Love You” droneship in the Pacific.
Starlink remains a major part of SpaceX’s business as its customer base continues to expand. The service reached about 12 million subscribers at the end of the second quarter, double the level reported a year earlier. Connectivity revenue reached about $4.3 billion during Q2 as the company added more customers across consumer, enterprise, and government services.
The latest satellite deployment adds more capacity to that network as SpaceX continues a rapid Falcon 9 launch schedule. Starlink has also expanded into airline connectivity and direct-to-cell services, widening the types of customers using the satellite network.
Morgan Stanley Sees $600 SpaceX Stock Bull Case
Morgan Stanley reiterated its Overweight rating on SpaceX and maintained a $300 base price target. Analyst Adam Jonas also outlined a “bull case” of $600 per share, although reaching that level would depend on several long-term assumptions around AI computing, Starlink expansion and Starship.
$SPCX – MORGAN STANLEY: SPACEX LOCK-UP IS A BUYING OPPORTUNITY
Morgan Stanley reiterated Overweight on $SPCX with a $300 price target and $600 bull case.
Analyst Adam Jonas argues the market is undervaluing SpaceX’s broader AI platform, including its compute, connectivity and…
— *Walter Bloomberg (@DeItaone) August 12, 2026
The firm believes investors may be assigning too little value to SpaceX’s AI operations. Morgan Stanley estimates the market is valuing the company’s AI business at about $12 per share and expects further development around Grok and other AI products to influence that valuation.
The $600 figure is not Morgan Stanley’s main price target. The scenario assumes SpaceX can expand orbital AI computing at lower costs while extending Starlink connectivity to a much larger number of devices over time. Morgan Stanley’s current base target remains $300.
Grok 4.6 Release Expands SpaceX AI Push
SpaceXAI released Grok 4.6 on Wednesday with a focus on long-running AI agents, coding, research and interactive projects. The model scored 61 on the Artificial Analysis Intelligence Index, matching GPT-5.6 Sol Max on the benchmark published with the release.
Grok 4.6 also scored 1,753 on GDPVal-AA v2 versus 1,728 for GPT-5.6 Sol Max and reached 69.9% on CursorBench v3.2 compared with 67.2%. GPT-5.6 Sol Max remained ahead on DeepSWE v1.1 and Terminal-Bench v3.0.
The model is available through Grok Build, Cursor, the SpaceXAI API and several partner platforms. API pricing starts at $2 per million input tokens and $6 per million output tokens.
Together, the Starlink launch, Morgan Stanley’s renewed AI valuation case and the Grok 4.6 release have provided three fresh catalysts for SPCX stock as shares return above their June IPO price.
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