SpaceX Surges as Big Investors Board Elon Musk's Rocket Company

SpaceX shares have jumped by over 4% to $146.23 in recent trading, pushing them further above their IPO price of $135. The increase is attributed to major corporations, sovereign investors, and university endowments acquiring significant stakes in the company.

Among these new investors are Harvard's endowment, which has disclosed nearly 13 million shares worth more than $2.2 billion, making SpaceX its largest reported US equity holding. Norway's $2.3 trillion sovereign wealth fund also revealed a stake of around $1.22 billion as of June 30.

Other notable investors include Alphabet, which owns roughly 551 million shares valued at near $77 billion, and Nvidia, which holds approximately 123 million shares worth around $17 billion. These investments support SpaceX's ambitious plans for reusable rockets, Starlink connectivity, and an AI infrastructure business consuming exclusively Nvidia hardware.

The unlocking of billions of previously locked shares is also expected to put pressure on prices as early employees and investors gain access to liquidity. By year-end, it's estimated that around 4.9 billion SpaceX shares could be available to trade, equivalent to about 70% of the stock not owned by Elon Musk.