SpaceX stock jumps on Starlink expansion reports

Shares of Space Exploration Technologies Corp. rose sharply on Friday after media reports highlighted a surge in subscribers for its Starlink satellite internet service.

The company, led by Elon Musk, has expanded its Starlink network globally, attracting users in remote and underserved regions. Reports cited a 15% increase in active subscribers over the past month, with total users now exceeding 2.5 million. Analysts noted that the growth trajectory aligns with Starlink’s stated goal of reaching 5 million subscribers by the end of 2024.

The stock’s rally followed a Bloomberg report citing internal documents that indicated a 20% month-over-month rise in new activations. While SpaceX does not publicly disclose subscriber numbers, third-party tracking platforms have corroborated the trend, showing consistent demand across North America, Europe, and parts of Asia.

The surge in Starlink subscriptions has coincided with broader investor optimism about SpaceX’s commercial spaceflight and satellite businesses. The company’s valuation has climbed in private markets, with recent funding rounds valuing it at over $180 billion, according to PitchBook data. SpaceX’s Starship program, a key focus for future revenue streams, also remains a focal point for analysts tracking its long-term growth potential.

The stock’s gains reflect growing confidence in Starlink’s ability to disrupt traditional broadband markets, particularly in areas with limited infrastructure. Competitors such as OneWeb and Amazon’s Project Kuiper have yet to match Starlink’s subscriber base or deployment speed, reinforcing its market leadership in low-Earth orbit internet services.

SpaceX did not immediately respond to requests for comment.