SpaceX (NASDAQ: SPCX) shares climbed roughly 5.9% in Monday morning trading, reaching $148.21 with a session high of $148.67, rebounding sharply off a 52-week low of $104.83.
The rally was driven by several converging catalysts, including a major Goldman Sachs report, a completed acquisition, and significant institutional disclosure filings.
Goldman Sachs Global Institute’s report, titled “The Second Space Age,” projected the global space economy could reach $1.8 trillion by 2035, identifying launch infrastructure as the sector’s key upstream chokepoint.
That framing places SpaceX directly at the center of what Goldman sees as the most critical bottleneck in commercial space development over the next decade.
SpaceX also 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 that powered strong second-quarter results.
Q2 figures showed revenue of $7.81 billion, AI revenue up 247% year over year to $2.56 billion, and Starlink subscribers doubling to 12.0 million, underscoring the breadth of the company’s growth across divisions.
UBS reiterated its Buy rating on SpaceX Monday with a $210 price target, citing AI token demand and Starlink expansion, with Starship and V3 satellites expected to accelerate broadband capacity next year.
UBS flagged one key risk, noting that success depends on securing scarce low-band spectrum and achieving sufficient network density, particularly in urban areas where coverage remains a challenge.
Quarterly 13F filings released on August 14, 2026, showing positions as of June 30, 2026, revealed deep institutional commitment to SpaceX across some of the world’s most prominent investors.
NVIDIA (NASDAQ: NVDA) disclosed 122,764,805 SpaceX shares valued at $20,975,594,582, making it the company’s second-largest disclosed position behind only Intel.
Atreides Management, run by Gavin Baker, disclosed 27,332,943 shares valued at $4,670,106,641, representing SpaceX as the firm’s single largest disclosed position.
Appaloosa LP, run by David Tepper, opened a new position of 225,000 shares valued at $38,443,500, signaling early-stage conviction from one of the industry’s most closely watched hedge funds.
Alphabet reported a $94 billion position in SpaceX, while Harvard Management reported a $2.2 billion stake, illustrating how broadly the company has penetrated institutional portfolios.
Neocloud peers Nebius Group (NASDAQ: NBIS) and CoreWeave (NASDAQ: CRWV) dipped in early trading before recovering, with CoreWeave up 1.2% and Nebius narrowing losses to 0.7% as of 1:20 p.m. ET.
The morning pullback for both stocks followed a blistering week in which Nebius rose 47.73% and CoreWeave gained 16.09%, making the early dip appear more like digestion than a signal of weakening fundamentals.
Nebius posted group revenue of $582 million, representing 454% year-over-year growth, with an annualized recurring revenue figure of $3 billion and an adjusted EBITDA margin of 41%.
CoreWeave delivered record revenue of $2.6 billion, up 112% year over year, with a backlog of $104 billion, and CEO Michael Intrator stated that “Q2 marked the quarter in which we saw margins inflect.”
NVIDIA’s 13F also revealed 47,213,353 CoreWeave shares valued at $4,699,617,158, equal to 10.29% of the class, and 1,190,476 Nebius shares valued at $328,773,757, confirming its broad exposure across the neocloud sector.
Appaloosa opened a new CoreWeave position of 1,078,248 shares valued at $107,328,806, adding to a pattern of fresh institutional entry into AI infrastructure names.
Near-term catalysts to monitor include any regulatory or timeline updates on the Cursor acquisition close and UBS’s flagged spectrum concerns, while Nebius and CoreWeave investors will be watching whether backlog conversion sustains momentum through year-end.
