Key Takeaways:
SpaceX shares climbed 6% on Monday as institutional holdings disclosures and Anthropic's record $11.5 billion quarter lifted AI-linked telecom names.
SpaceX (SPCX) shares rose 6% on Monday, outpacing a 3.51% gain in the Telecommunications Services sector, after disclosures of significant institutional holdings and a series of bullish analyst calls.
The move coincided with Anthropic's report of more than $11.5 billion in second-quarter revenue, a 14-fold jump from a year earlier, which lifted AI-linked technology names, according to documents reviewed by Bloomberg News. The Claude chatbot maker also posted positive adjusted operating income for the period, a first for a frontier AI lab, ahead of a potential October IPO.
The Telecommunications Services sector rose 3.51%, with AST SpaceMobile up 3.76% and Ucloudlink up 8.67%. SpaceX's gains drew support from multi-billion-dollar contracts with the U.S. Space Force and sustained Starlink subscription expansion, while institutional holdings showed steady accumulation and retail buying momentum remained strong.
The rally comes ahead of an Aug. 20 share unlock of an estimated 319 million insider shares, which could add supply pressure. Sell-side analysts have flagged customer concentration of 19.5% from a single client and a price-to-sales multiple near 70 times as key risks.
Anthropic reported preliminary second-quarter revenue of more than $11.5 billion, up from $787 million a year earlier and $4.73 billion in the first quarter, according to documents reviewed by Bloomberg News. The company's annualized run rate crossed $47 billion in May, and roughly 80 percent of revenue comes from API and enterprise business, with Claude Code passing an $8 billion run rate.
SpaceX's own AI ambitions added to the momentum. Chief Executive Elon Musk expressed confidence in Grok 4.7, the latest iteration of the company's large language model developed after its integration of xAI. Management emphasized SpaceX's proprietary training data infrastructure and real-world engineering datasets as competitive differentiators, reinforcing expectations for top-line growth in its AI and cloud computing segments.
Over the past month, multiple analysts rated the stock Buy, with an average price target of $234.70, a high of $800 and a low of $117, according to TradingKey data. A bearish analyst reiterated a Sell rating with a $75 price target, representing roughly 47 percent downside, warning that AI segment growth remains vulnerable to customer concentration and short-term agreements subject to 90-day cancellation terms.
The company reported annual revenue of $18.67 billion and a net loss of $4.94 billion. Its $60 billion all-stock merger with Anysphere, the maker of Cursor, closed with the issuance of approximately 389.3 million new Class A common shares. The launch of single-stock 2x leveraged and inverse ETFs has also introduced automated daily rebalancing flows that can magnify intraday volatility.
The rally reflects growing institutional confidence in SpaceX, but the Aug. 20 unlock of roughly 319 million insider shares will test whether buying interest can absorb the supply. The stock's demonstrated resilience during a larger lock-up expiration earlier this month, where strong buying absorbed potential share supply, offers a reference point for how the market may respond.
This article is for informational purposes only and does not constitute investment advice.
