SpaceX (NASDAQ: SPCX) climbed roughly 5.9% in Monday trading, reaching $148.21 with a session high of $148.67, rebounding sharply from a 52-week low of $104.83.
Neocloud peers Nebius Group (NASDAQ: NBIS) and CoreWeave (NASDAQ: CRWV) slipped in morning trading before recovering, with CoreWeave up 1.2% and Nebius narrowing its losses to 0.7% by early afternoon.
Goldman Sachs Global Institute’s report, “The Second Space Age,” projected the global space economy could reach $1.8 trillion by 2035 and identified launch infrastructure as the sector’s key upstream chokepoint.
That framing positions SpaceX’s core launch business as a direct and primary beneficiary of the broader commercial space expansion that Goldman outlined.
SpaceX completed its $60 billion acquisition of AI coding startup Cursor on August 14, folding the asset into its SpaceXAI division and reinforcing the AI compute thesis driving the stock’s momentum.
The company posted second-quarter revenue of $7.81 billion, with AI revenue surging 247% year over year to $2.56 billion and Starlink subscribers doubling to 12.0 million.
UBS reiterated its Buy rating and $210 price target on Monday, citing AI token demand and Starlink expansion, with Starship and V3 satellites expected to accelerate broadband capabilities next year.
UBS flagged one key risk, noting that SpaceX’s success depends on securing scarce low-band spectrum and achieving sufficient network density, particularly in urban markets where coverage remains thin.
Quarterly 13F filings released on August 14, 2026, revealed deep institutional conviction, with NVIDIA (NASDAQ: NVDA) disclosing 122,764,805 SpaceX shares valued at approximately $20.97 billion, its second-largest disclosed position behind only Intel.
Atreides Management, run by Gavin Baker, disclosed 27,332,943 SpaceX shares valued at $4.67 billion, representing the fund’s single largest disclosed position across its entire portfolio.
Appaloosa LP, run by David Tepper, opened a new position of 225,000 SpaceX shares valued at approximately $38.4 million, signaling initial institutional interest from one of Wall Street’s most closely watched managers.
Alphabet reported a $94 billion position in SpaceX, while Harvard Management disclosed a $2.2 billion stake, underscoring the stock’s broad appeal across corporate and endowment capital alike.
Nebius surged 47.73% and CoreWeave gained 16.09% over the prior week, making Monday’s morning dip appear more like natural digestion than any fundamental deterioration in either company.
Nebius reported group revenue of $582 million, up 454% year over year, with annualized recurring revenue of $3 billion and an adjusted EBITDA margin of 41% in its most recent quarter.
CoreWeave posted record revenue of $2.6 billion, up 112% year over year, with a backlog of $104 billion, and CEO Michael Intrator stated “Q2 marked the quarter in which we saw margins inflect.”
NVIDIA’s 13F also disclosed 47,213,353 CoreWeave shares valued at approximately $4.70 billion, representing 10.29% of the class, alongside 1,190,476 Nebius shares valued at roughly $328.8 million.
Appaloosa opened a new CoreWeave position of 1,078,248 shares valued at approximately $107.3 million, adding further institutional weight behind the neocloud sector heading into the second half of 2026.
Intuitive Machines climbed 6% to $20.22 after receiving authorization to proceed on a multi-satellite communications program valued at more than $600 million, adding another bullish data point to the broader space infrastructure trade.
Near-term catalysts for SpaceX include any developments on low-band spectrum access flagged by UBS, while Nebius and CoreWeave investors will watch whether the neocloud group can sustain post-earnings gains as backlogs convert to revenue through year-end.
