NEW YORK — Shares of Elon Musk's two public companies pushed higher Tuesday, with $SPCX holding near record territory on enthusiasm for its in-house chip plan and $TSLA firming into a packed week of catalysts headlined by the new Roadster reveal and quarterly results.
SpaceX — NASDAQ: SPCX — drew buyers after the group confirmed it will operate Terafab, a captive semiconductor foundry supplying Tesla, SpaceX and xAI. Investors read the move as a durable advantage in the scramble for AI compute, since owning fabrication insulates the group from the shortages and price spikes squeezing rivals. SPCX has been the standout of the Musk complex since its listing, trading as the vehicle that now includes xAI after the merger.
Chips Become The Story
The Terafab plan reframes the bull case. Rather than valuing SPCX purely on launch cadence and Starlink subscribers, the market is increasingly pricing in a vertically integrated compute engine that designs chips, builds them, and runs them across rockets, satellites, cars and AI models. That is the same logic that drove SPCX as it topped $TSLA by nearly $800 billion in market value.
Tesla, for its part, is heading into one of its busiest stretches of the year. A new Roadster is set to be unveiled Oct. 15, and the company reports quarterly results on Oct. 21, a pairing that has traders positioning for volatility in both directions.
The Tape Right Now
As of midday in New York, $TSLA traded in the mid-$400s, up modestly on the session and holding within sight of its 52-week high after a strong October. $SPCX changed hands near the upper end of its post-listing range, consistent with a valuation around the $800 billion mark that has made it the largest of Musk's ventures. Volume was active in both names as options desks braced for the earnings print. These are point-in-time snapshots and move constantly; confirm live quotes for $TSLA on Yahoo Finance, Google Finance, WSJ and Nasdaq, and for $SPCX on Yahoo Finance, Google Finance, WSJ and Nasdaq.
Catalysts Stacking Up
The near-term calendar is unusually dense. The Roadster reveal offers a halo moment for the Tesla brand, the Oct. 21 report will show how the robotaxi ramp and energy business are converting into cash, and the Terafab effort gives SPCX a fresh long-term narrative. Analysts have flagged the cluster of events in a $TSLA and $SPCX earnings preview as a potential swing factor for the whole complex.
For now, the setup favors the bulls. Neither stock is pricing in disappointment, and the Terafab announcement has given long-term holders another reason to look past quarter-to-quarter noise. Other relevant names in the AI-hardware trade include $NVDA, with broad market gauges $SPY and $QQQ setting the backdrop. The next week will test whether the optimism is earned.
This article does not constitute financial advice. Readers are advised to do their own research before investing in the stock market. Prices cited are point-in-time snapshots and may be stale — always confirm on a live financial source.
