Space Exploration Technologies Corp. (NASDAQ:SPCX) has rebounded sharply from its Aug. 6 low, with the stock up over 28% so far this month and back above its $135 IPO price as investors re-evaluate the company's heavy artificial intelligence spending. Sentiment improved after the first insider lock-up period (post-IPO share sale restriction) expired without the expected wave of selling and after CEO Elon Musk used a company-wide meeting to argue that AI, rather than launch services, could become SpaceX's next major growth engine. Barron's reported Musk said AI-generated internet traffic could exceed human internet traffic by 1,000 times within five years, while Starlink now serves 22 million mobile subscribers and the company aims to build 10 gigawatts of AI compute capacity (data-center processing power for AI) by the end of 2027, potentially about 20% of U.S. AI compute. The shift in mood is a sharp reversal from last week, when investors pushed the shares lower despite strong quarterly results because of aggressive AI investment and rising capital expenditure. Starlink generated roughly 70% of SpaceX's latest-quarter revenue, helping offset losses from the company's capital-intensive AI and Starship businesses, and investors are increasingly weighing whether Musk can turn that foundation into one of the world's largest AI infrastructure platforms.