SPCX stock makes Musk a billionaire again: Sequoia’s Maguire says investors are ‘just starting to understand SpaceX’

• Shares of SpaceX jumped nearly 8% to $171.09 on Monday, their highest level since mid-June, returning Elon Musk to billionaire status.

• Shares gained nearly 1% in after-hours trading following reports that SpaceX had proposed a gas pipeline in Florida to power Starship launches.

• ARK estimates that deploying Starlink on Flight 14 could generate nearly $560 million in annualized revenue.

Shares of SpaceX (SPCX) rose to their highest level since mid-June on Monday, returning CEO Elon Musk to billionaire status on his first Starship orbital flight and growing AI ambitions putting the company’s long-term growth potential in the spotlight.

SPCX stock jumped nearly 8% to $171.09, bringing Musk’s fortune to about $1.04 trillion, according to Forbes’ Real-Time Billionaires List, which includes his holdings in SpaceX and Tesla (TSLA). Shares also gained nearly 1% after hours after SpaceX proposed a 32.4-mile gas pipeline in Florida’s Brevard County to provide fuel for Starship launches from Cape Canaveral.

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Partner Sequoia sees awakening of SpaceX investors

“We’re seeing the very beginning of investors starting to understand SpaceX,” Sequoia Capital partner Shaun Maguire said on X. He was responding to Mach33 founder and CEO Aaron Burnett, who urged investors to study SpaceX while others were still catching up. Burnett’s post addressed Morgan Stanley analyst Adam Jonas’ observation that few clients appeared to own the stock.

In a clip shared by Tesla investor and influencer Sawyer Merritt, Jonas recalls asking 40 customers if anyone owned SPCX stock. “Not a single hand went up,” he said.

Jonas argued that evaluating SpaceX solely through telecommunications, aerospace and defense, or AI, ignores the connections between its businesses. “SPCX valuation is more of an ‘and’ problem than an ‘or’ problem,” he said. “The unusual dimensionality that makes valuing the stock difficult, in and of itself, gives the stock its value.”

Burnett questioned why the “loudest” voices in asset valuation have often done “the least work” to understand underlying value, while recognizing the place for valuation shortcuts and technical research. “SpaceX is among the most difficult technology suites in the world to understand and is becoming increasingly complex,” he said. “Complexity is both a challenge and an opportunity, it depends on your perspective.”

Wells Fargo said SpaceX was redeploying its engineers from its launch and connectivity divisions to orbital data center work, prioritizing AI satellites ahead of a demonstration launch planned for the second quarter of 2027. A full-scale deployment would follow once Starship supports a faster launch cadence.