US stocks climb as SpaceX surges on first-ever profit milestone

SpaceX shares surged 8.36% to US$160.15 in early US market trading, buoying broader stock indices as investors responded positively to the company's profitability announcement. The aerospace firm's achievement marks a significant turning point for the ambitious space exploration enterprise, which has long prioritised expansion and technological advancement over near-term financial returns.

The share price movement underscores growing investor confidence in SpaceX's business model as the company increasingly monetises its satellite internet service Starlink and commercial launch operations. Analysts have pointed to rising demand for space-based services and government contracts as key drivers supporting the company's path to sustainable profitability.

The gains in SpaceX shares contributed to broader market optimism, with major US stock indices opening higher. The movement reflects renewed appetite among investors for technology and innovation-focused companies, particularly those operating in the emerging space economy sector.

SpaceX's profitability milestone comes amid intensifying competition in the commercial space sector and as the company continues expanding its launch cadence and satellite constellation. The financial achievement provides a foundation for potential future capital raises and strategic investments as the company pursues ambitious plans including lunar missions and Mars exploration programmes.