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SpaceX Stock Jumps 7.6%. It's Now a Super Intelligence Company

Dow Jones04:16

At SpaceX, it's no longer artificial intelligence. It's now super intelligence.

Whatever the name, and for whatever reason, the stock rose 7.6%, closing at $171.09 on Monday. The S&P 500 and Dow Jones Industrial Average gained 0.7% and 0.2%, respectively.

Over the weekend, SpaceX and Tesla CEO Elon Musk tweeted: "No more AI, SI, It's better," and added that SpaceXAI would be renamed SpaceXSI.

The move followed President Donald Trump's effort to rename artificial intelligence, beginning with his U.N. speech in September, as he tried to assure world leaders that AI can be developed safely. A few days later, he signed an executive order instructing the federal government to use the term "super intelligence."

The change is the latest example of the White House changing names. The Defense Department is now the War Department. On Google and Apple maps, Lake Ontario is now Lake America, and the Gulf of Mexico is the Gulf of America.

The technology industry isn't alone in adopting name changes. The defense industry now refers to the Department of War in investor communications.

The latest change probably isn't the reason shares are soaring.

Shares are now up almost 16% over the past two days -- Monday's gain plus 7.4% on Friday. The exact reason for that jump is hard to pin down, too.

Last week's move came as Tesla stock had a big day, rising 4.7%, after reporting better-than-expected third-quarter delivery numbers. Tesla and SpaceX stocks sometimes trade in tandem. (The companies collaborate on several projects, including semiconductors, and are both, of course, led by Musk). SpaceX stock also picked up a couple of new Buy ratings on Wall Street, from TD Cowen and CLSA, although both were earlier in the week.

Some AI-related stocks were strong on Monday. Nvidia shares hit a new 52-week high. Morgan Stanley analyst Adam Jonas called SpaceX stock cheap in a Monday report. He left his bullish price target unchanged at $300.

SpaceX also filed an application for a natural gas pipeline in Florida. The company uses liquid methane (natural gas) and liquid oxygen to power its Starship rocket. Prepping gas infrastructure is a reminder that SpaceX plans to launch a lot of Starship rockets in the future.

Whatever the reason, SpaceX stock, through late trading on Monday, has gained 24% from the $135 initial offering price in June. If gains keep coming, investors won't care if SpaceX is AI or SI.

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Comment(2)

  • Pinkywei
    ·10:27
    Great article, would you like to share it?
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  • a4xrbj1
    ·09:14
    Still the biggest scam ever, no matter what the name. Starships won't be able to transport the payload, if lucky maybe half of it. AI in Space is a joke and will be quietly stopped (as many of Musks previous heroic projects like wireless charging, using solar energy at every Supercharger, Dojo, 4280 battery cells everywhere etc).
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    • Warzypants: 
      Hmm, you do know that Starhip just delivered 26 starlink v3 satellites to orbit marking the first commercial payload for what has, until now, been purely flight testing flights? And that two more flights are scheduled, possibly within a month, which may each carry a further 60 v3s?
      20 minutes ago
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