SpaceX’s Stock Is Jumping—for 3 Reasons

SpaceX stock rose on Tuesday after closing at its $135 June initial public offering price on Monday. JPMorgan touts the company’s artificial intelligence, Nvidia is partnering on space chips, and a new launching site is on the way. In a Tuesday note, analyst Doug Anmuth praised the rate at which SpaceX is developing Grok, its frontier large-language model that competes with the likes of Anthropic’s Claude, Google’s Gemini, and OpenAI’s ChatGPT.