5 Stocks Stealing the Spotlight from Wall Street Giants

2. Space Exploration Technologies Corp. (NASDAQ:SPCX)

SpaceX soared on its second day as a publicly listed company, jumping 19.60 percent to close at $192.50 apiece, amid a combination of broader market optimism, thanks to the US and Iran’s deal to end the war, while investors increased their exposure in stocks riding the AI wave.

Since it debuted on the stock market last Friday, Space Exploration Technologies Corp. (NASDAQ:SPCX) has already seen its valuation climb to $2.44 trillion, making it one of the most valuable companies in the US markets.

The rally can be primarily attributed to an overall optimism for the space sector, with the Elon Musk-led firm planning to invest heavily in orbital data centers in space to support the rapidly accelerating AI.

Space Exploration Technologies Corp. (NASDAQ:SPCX) was able to raise $75 billion in fresh funds for its space exploration initiatives.

In its prospectus, Space Exploration Technologies Corp. (NASDAQ:SPCX) said that proceeds from the offer will be used “to fund our growth strategy, including the expansion of our AI compute infrastructure, enhancements to our launch infrastructure and launch vehicles, increases in the scale and capacity of our satellite constellations, and any remaining amounts for general corporate purposes.”