# SpaceX Shares Jump 8% as Memory Stocks Lead U.S. Gains

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/37249
Published: 2026-10-22T00:58:34.000Z
Updated: 2026-10-22T00:58:34.000Z
Section: Investing

> Third-quarter revenue rose 161% year over year to $14.6 billion. Elon Musk said annual recurring revenue could reach $500 billion to $1 trillion by the end of 2027.

SpaceX shares opened 8% higher Wednesday after the company posted third-quarter revenue of $14.6 billion, a 161% year-over-year increase, while U.S. memory and chip stocks also advanced.

SK Hynix and Sandisk each rose 4%, Micron Technology gained 3% and Nvidia climbed 2%. Memory stocks led the named U.S. market moves, with SK Hynix and Sandisk showing the largest gains among the other companies listed.

SpaceX’s $14.6 billion in revenue was its third-quarter total, and the 161% increase compares with the same period a year earlier. The reported figures pair the stock move at the open with the company’s quarterly revenue growth.

SpaceX CEO Elon Musk said the company may reach annual recurring revenue (ARR) of $500 billion to $1 trillion by the end of 2027. That was a forward-looking annual revenue range; the $14.6 billion figure covered one quarter.