Space Exploration Technologies Corp (NASDAQ:SPCX) shares are trading higher on Wednesday. CEO Elon Musk told employees the company’s Starlink service has passed 13 million consumer subscribers and 22 million monthly Starlink Mobile users.
- SpaceX stock is surging to new heights today. Why are SPCX shares rallying?
Musk Highlights Starlink Momentum
In an employee meeting shared on social media by SpaceX late Tuesday, Musk said Starlink now serves more than 13 million consumer subscribers. He also announced that the service supports about 22 million monthly Starlink Mobile users through partnerships with 36 mobile network operators, extending coverage into 167 markets.
The subscriber number is up from the 12 million subs SpaceX reported as of June 30 and appears to be driving strength in SpaceX shares on Wednesday.
SpaceX’s Falcon 9 and Falcon Heavy Milestones
Musk said Falcon 9 and Falcon Heavy have deployed more than 90% of all mass placed into orbit worldwide, making SpaceX the leading launch service provider globally.
By September, the Falcon program is on track to reach its 700th total launch, according to SpaceX. The company also said a single booster is set to fly for the 37th time this month, pushing its reusability record further.
On Tuesday, SpaceX launched 29 Starlink satellites to low Earth orbit on a Falcon 9 from Florida, which was followed shortly after by the launch of 24 Starlink satellites on a Falcon 9 from California.
SpaceX’s Evolving Business Footprint
SpaceX, which was founded in 2002, builds, operates and launches a lineup of reusable rockets for government and commercial missions. Beginning in 2019, the company started deploying its own satellite network under the Starlink brand to deliver mobile broadband and wireless connectivity.
In early 2026, the company purchased xAI, which runs the Grok large‑language model, the Colossus data center and the social platform X. That combination ties the business to several major investor themes including space launch, satellite communications, and AI infrastructure, which often leads to sharp moves when markets favor growth exposure.
SpaceXAI announced the launch of Grok 4.6 on Wednesday, which may be helping fuel some of the momentum in SpaceX stock today.
“It delivers frontier intelligence and is a significant improvement over Grok 4.5 at the same price,” the company said.
SPCX Shares Are Rising
SPCX Price Action: SpaceX shares were up 8.36% at $144.43 at the time of publication on Wednesday, according to Benzinga Pro. The stock opened for trading on Wednesday at $135 and reached lows of $134.01 before staging a strong rally above its IPO price during Wednesday’s session.
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