NEW YORK — Shares of Tesla and SpaceX head into the first full trading week of November on firm footing, with both names hovering near recent highs as investors weigh an expanding AI-compute story against a market still digesting a busy earnings season.
Tesla — NASDAQ: TSLA — and SpaceX — NASDAQ: SPCX — remain the twin engines of the Musk complex, and both have given bulls plenty to point to this fall. SpaceX, which now includes xAI following their combination, continues to trade as one of the most closely watched new public companies since its record June listing, while Tesla's autonomy and energy franchises keep drawing fresh price-target interest.
What's Driving the Tape
The dominant theme is compute. Elon Musk's declaration that orbital data centers will eventually make ground-based AI capacity look like "peanuts" has crystallized the bull case for $SPCX, layering a potential new revenue frontier on top of Starlink and launch. For $TSLA, the drivers remain closer to home: robotaxi expansion, Full Self-Driving adoption and the long-rumored prospect of a Tesla-SpaceX tie-up that analysts have begun to model in detail.
Insider signaling has added a bullish tint. SpaceX President Gwynne Shotwell's pledge to gift more than 2 million of her shares to savings accounts for children — valued around $146 apiece — reads to many holders as a sign of long-term conviction rather than a desire to cash out.
By the Numbers
Point-in-time snapshot: $TSLA has been trading in the low $450s, in the neighborhood of the $450 target Barclays set last month, against a 52-week range that stretches from the low $200s to the high $480s. $SPCX, which priced its IPO at $135 in June and changed hands under $160 at points in October, has recovered toward the $170 area, keeping it near the upper end of its short public history. Broader tech benchmarks $QQQ and $SPY remain within reach of their own highs, and AI bellwether $NVDA stays central to the orbital-compute thesis as SpaceX's largest hardware supplier.
