SpaceX Stock Rises as Morgan Stanley Reiterates $300 Target and Musk Confirms TSMC Chip Talks

SpaceX stock gained 6.0% to EUR 149.68 as Morgan Stanley kept its Overweight rating and Musk confirmed talks with TSMC over the Terafab project.

SpaceX shares climbed 6.0% to EUR 149.68 on Monday, with the advance attributed to a fresh endorsement from Morgan Stanley and remarks by Elon Musk that opened the door to a semiconductor partnership.

Analyst Adam Jonas reaffirmed his "Overweight" rating on the space company and kept a $300 price target, describing the valuation on a growth-adjusted basis as "cheap and getting cheaper." The catalysts he flagged extend beyond launch capacity: upcoming product launches tied to artificial intelligence and, most immediately, the next orbital test flight, Starship Flight 15.

Musk Confirms Talks With TSMC Over Terafab

Adding to the bullish tone, Musk confirmed over the weekend that SpaceX is in discussions with Taiwanese chipmaker TSMC about a possible collaboration centered on the Terafab project. The venture would aim to produce chips for SpaceX, Tesla and the AI startup xAI.

No formal agreement has been reached. The structure, ownership arrangements and precise scope of the project remain unresolved, and TSMC has not commented publicly on the talks.

Three Rockets in 13 Hours

The gains arrive against a backdrop of unusually dense launch activity. On Thursday, a Falcon 9 deployed 130 payloads in orbit under the Transporter-18 rideshare mission, including a prototype satellite for Google's Project Suncatcher. The same day, Crew-13 lifted four astronauts toward the International Space Station after a leaking fuel system issue was resolved. A Falcon Heavy launch for the U.S. National Reconnaissance Office followed shortly after, bringing the total to three rockets within 13 hours.

Attention now shifts back to preparations for the next major Starship flight. On September 28, the 14th Starship test flight reached Earth orbit for the first time and released 26 Starlink V3 satellites. Although an engine shutdown prompted flight controllers to end the mission early, investors treated the orbital insertion as the decisive breakthrough — a sign that operational setbacks are tolerated as long as the overall tempo holds.

A Dual Story for Investors

The share price reflects two narratives running in parallel. One is the operational assembly line, processing institutional and government contracts on a weekly rhythm. The other is the prospect of linking that orbital infrastructure to the demands of modern computing architectures.

So long as both drivers reinforce each other, the willingness to write off unplanned engine shutdowns as noise in the test program remains high. The challenge is shifting away from rocket manufacturing itself toward a different question: how efficiently the enormous fleet can be converted into real economies of scale.