On September 3, SpaceX rose 3.28% in regular trading, trading at $147.63/share, with turnover of $2.38 billion. Multiple catalysts converged to drive the rally in Musk-affiliated assets.

On the news front, Tesla unveiled its Cybercab autonomous vehicle at a launch event in Austin, Texas, sending Tesla shares up nearly 5% and triggering a sympathy rally in SpaceX. Additionally, Oppenheimer on September 2 raised its SpaceX price target from $250 to $280, maintaining an Outperform rating, citing AI revenue and use cases accelerating faster than expected, with new applications such as agentic coding and Grok Bot driving a threefold increase in direct AI revenue. FactSet consensus currently shows an average overweight rating with a mean target of $225.87.

Separately, SpaceX filed with the FCC for permission to carry and operate Starlink terminals during Starship Flight 14, which would mark the program's first true orbital insertion attempt. The mission also plans to deploy approximately 20 Starlink V3 satellites, each capable of roughly 1 Tbps downlink throughput.

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