SpaceX (SPCX) shares, which listed at $150 in June, surged above $225 before a sharp sell-off pushed them near $100, and have since rebounded more than 37% from August lows to roughly the IPO price. The author argues AI is now the key driver, citing the xAI acquisition before the IPO, the Cursor acquisition, rising Grok subscriptions and the Grok Bots AI agent platform, while investors had focused mainly on the Starlink-driven Connectivity unit. Q3 revenue grew 830%, from $813 million to $7.56 billion, versus 69% growth in Connectivity and 6% in Space. On the Q3 conference call, CEO Elon Musk said revenue could reach $500 billion to $1 trillion by 2027. Assuming $500 billion in revenue in 2028 and 10x sales, the author estimates a valuation of about $5 trillion, implying a $5,000 investment could grow to $12,500.
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