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SpaceX Climbs 5% as Musk Renames SpaceXAI to SpaceXSI, Morgan Stanley Reiterates $300 Target; Rocket Lab Slips, AST SpaceMobile Nudges Higher

Elon Musk just dropped a loaded rebrand on SpaceX's AI unit, and Wall Street responded with a reiterated target that dwarfs the current share price. Whether the rename signals a real strategic shift or just a terminology swap is the…

By David Moadel
Published October 5, 2026, 10:46am ET · 3 min read

Market Movers desk. Editor: David Moadel.

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Elon Musk Raising Arms
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A rebrand and a renewed show of Wall Street support are pushing SpaceX (NASDAQ:SPCX | SPCX Price Prediction) far past the rest of the space sector. SpaceX stock is up 5% to $166.71 in morning trading. Both a name change for the company’s AI unit and a repeated $300 price target on SpaceX stock from Morgan Stanley analyst Adam Jonas sit behind the advance.

Meanwhile, Rocket Lab (NASDAQ:RKLB) stock is down 1%, moving the opposite way from its much larger rival. AST SpaceMobile (NASDAQ:ASTS) stock is up 0.5%, a small rise that leaves it trailing SpaceX by a wide margin.

Also, the Procure Space ETF (NASDAQ:UFO) is up 0.4%, holding close to flat despite owning shares of SpaceX, Rocket Lab and AST SpaceMobile. The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.4%, a similarly quiet reading for large-cap U.S. stocks. With the space fund and the broad market both barely higher, the size of the SpaceX move traces back to news specific to the company.

SpaceXSI Rename and an Overweight Reiteration Lift SpaceX

SpaceX founder Elon Musk stated over the weekend that SpaceXAI, the company’s AI unit, will be renamed SpaceXSI, replacing artificial intelligence with super intelligence (SI) in the label. In a post on X, Musk declared there would be no more AI, that the unit is SI, and that the new term is better. Musk gave no detail on when or how SpaceX would carry out the transition, and the unit’s own X account was unchanged as of the weekend reporting.

An executive order signed in late September tells agencies to use SI terminology in place of AI in official communications. Morgan Stanley analyst Adam Jonas then repeated an Overweight rating and a $300 price target on SpaceX stock, arguing the shares trade at a discount to a peer group of large companies centered on AI once expected growth is counted.

SPCX price target

SpaceX’s expected growth is central to its bull case, since Jonas argues the headline valuation multiple fails to capture it. On that headline multiple, SpaceX stock trades above the comparison group, while on a growth-adjusted basis (valuation measured against expected expansion) Jonas describes the shares as inexpensive and getting more so. That split lets SpaceX stock look expensive and still carry an Overweight rating.

What to Watch Next

SpaceX has handed the market a new name and a fresh endorsement, and the next test is whether the business behind SpaceXSI moves forward. The question is whether SpaceX ties concrete AI products or customer wins to the SI branding. Further detail from Musk on when and how SpaceX finishes the rename could also shape sentiment.

Optimists hold that SpaceX’s growth can outrun its headline multiple, the view behind Adam Jonas’s $300 price target on the shares. Yet, a policy-driven rename and a rally that Rocket Lab, AST SpaceMobile and the UFO space fund have largely sat out make the SpaceX share-price move look narrow. Investors may want to keep an eye on whether SpaceX stock holds the advance once the rename headlines fade.

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David Moadel

David Moadel is financial writer specializing in stocks, ETFs, options, precious metals, and Bitcoin. David has written well over 1,000 articles for leading online publications, helping investors understand markets, income strategies, and risk.His work has appeared in The Motley Fool, InvestorPlace, U.S. News & World Report, TipRanks, ValueWalk, Benzinga, Market Realist, TalkMarkets, Finmasters, 24/7 Wall St., and others.With a master’s degree in education, David has taught at the elementary, high school, and college levels. That teaching background shapes his writing style: clear, educational, and practical. David has also built a loyal social-media audience by providing trustworthy financial content on YouTube, X/Twitter, and StockTwits.

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