SpaceX Shares Rise Almost 8% to Their Highest Close Since June

SpaceX shares rose almost 8% Monday, reaching their highest level since mid-June and lifting Elon Musk’s estimated net worth to $1.03 trillion based on his Tesla and SpaceX holdings.

The stock has climbed about 58% since reaching a low in early August. Its record closing price was $201.80 on June 16, four days after SpaceX went public.

Shares began trending lower soon after that record close and bottomed in early August. The latest rise followed several company milestones late last week, including a crewed NASA mission to the International Space Station and a separate launch that sent Google AI chips into orbit.

SpaceX acquired xAI last year and recently acquired Cursor. The company also rents computing capacity to Google and Anthropic.