SpaceX's stock price soared nearly 8% on Monday, closing at $171.09—a new high since mid-June—pushing Musk's net worth back to the trillion-dollar level at approximately $1.03 trillion, reclaiming the top spot on the wealth list. The stock rally was driven by a bullish report from Morgan Stanley released the previous day, as well as the company's recent series of milestone flight missions. Since bottoming out in early August, the stock has rebounded by approximately 58%. Morgan Stanley set a target price of $300, arguing that the current stock price is undervalued, and cited potential positive factors such as AI product launches, progress in Starship development, and new cloud service contracts, advising investors to position themselves ahead of the next Starship test flight and third-quarter earnings release. Recently, SpaceX completed multiple historic flight missions in a single day, including a crewed mission for NASA and launching Google's AI chips into orbit. If the next test flight successfully recovers the Starship upper stage, it will become the most significant positive catalyst since the IPO. Beyond its core aerospace business, SpaceX has also expanded into AI through acquisitions of xAI and Cursor, generating revenue by leasing computing power to companies like Google and Anthropic. Meanwhile, SpaceX has secured over $12.7 billion in contracts from the U.S. Department of Defense, with its defense business accounting for an increasing share. Previously, Musk announced plans to rename his AI subsidiary to comply with relevant executive order requirements, but this plan has not yet been implemented. SpaceX completed its IPO in June this year, raising a record $75 billion. After listing, the stock initially surged before pulling back, and is now up approximately 27% from its offering price following this rebound. Musk holds approximately 82.4% of the voting rights. The company's 2025 revenue grew 33% year-on-year to $18.67 billion, but it reported a loss of $4.94 billion due to heavy investments.