SpaceX sees major institutional investment and Starlink expansion

SpaceX is experiencing significant market activity following its initial public offering. Institutional investors are showing high conviction, with Harvard Management Company disclosing a $2.2 billion stake and the University of California holding approximately $1 billion. Other major entities like Google LLC have also established equity positions.

Despite this institutional accumulation, market analysts remain divided. Scott Galloway has criticized the stock as “wildly overvalued,” suggesting a much lower fair value, while Morgan Stanley maintains an overweight rating with a price target of $300, potentially reaching $600 if the company's AI units are valued separately from its aerospace division.

In operational news, Lufthansa has begun integrating Starlink satellite internet into its fleet, starting with an Airbus A320neo flight from Frankfurt to Rome. The airline plans to equip approximately 850 aircraft with high-speed connectivity by 2029.

Meanwhile, Cerebras Systems is seeing high volatility. While Wedbush Securities identified the company as a key computing partner for OpenAI's new service tier, the stock has faced selling pressure following recent earnings reports and market fluctuations.