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• SpaceX was Harvard’s largest individual holding within the $4.3 billion U.S. equity portfolio disclosed in its regulatory filing.
• Other university investors have also benefited, including the University of California, which disclosed a SpaceX stake worth about $1 billion.
• Mizuho reiterated an ‘Outperform’ rating and $200 target, implying about 43% upside from current levels.

SpaceX (SPCX) shares rose over 1% overnight late Sunday after Harvard University revealed a $2.2 billion stake in Elon Musk’s space-and-AI giant, while Mizuho said Grok 4.6 could help the company win enterprise customers from a relatively small base. 

SPCX stock slipped 0.9% to $140 on Friday but still finished higher for a second consecutive week, gaining more than 5% over the past week. 

Harvard Scores Big On SpaceX IPO

A Friday regulatory filing showed that Harvard Management held $2.2 billion of SpaceX shares at the end of the quarter. The rocket maker was Harvard’s largest individual position among the $4.3 billion of U.S.-listed equities disclosed in the filing.

The position may reflect Harvard’s exposure to SpaceX before its record June IPO, likely through a mix of direct ownership and shares distributed by venture funds. Harvard Management oversaw a $57 billion endowment as of June 2025.

Other academic institutions have also benefited from backing SpaceX while it was private. The University of California’s investment arm disclosed a stake worth $1 billion, while the University of North Carolina and Washington University in St. Louis have reported sizable gains. The returns come at a useful time for universities facing pressure from uncertain research funding, demographic shifts and weaker private-equity performance.

Mizuho Sees 43% Upside For SpaceX

Harvard’s disclosure came alongside a bullish AI call from Mizuho, which reiterated an ‘Outperform’ rating and $200 price target on SpaceX, implying a 43% upside from current levels. 

The brokerage said Grok 4.6’s benchmark results place it “roughly in line” with the latest models from OpenAI and Anthropic, marking another step toward establishing Grok as a serious frontier model. SpaceXAI said Grok 4.6 matched OpenAI’s GPT-5.6 Sol on the Artificial Analysis Intelligence Index. The model also improved across coding, knowledge-work and long-duration agentic tasks, with distribution through Cursor, Grok Build, its API and third-party platforms.

Mizuho believes the combination of “frontier-level performance, lower pricing and Cursor distribution” could help Grok gain enterprise customers from its relatively small starting position. Grok 4.6 pricing begins at $2 per million input tokens and $6 per million output tokens.

Based on recent industry commentary from CoreWeave and Nebius, the firm said outside AI-compute capacity is “exceptionally tight.” Prices are climbing for both current and previous-generation infrastructure, while some customers are increasingly willing to pay in advance to secure capacity. This scarcity could make SpaceX’s infrastructure ambitions, and its close relationship with Nvidia, more valuable.

Nvidia disclosed a $21 billion SpaceX stake last week. During SpaceX’s first public earnings call, Musk said the company had chosen to build “exclusively on Nvidia,” calling its Vera Rubin architecture “the best AI computer.” He also expects a “significant allocation” of Nvidia’s next-generation chips in 2027.

How Do Retail Traders Feel About SPCX?

On Stocktwits, retail sentiment for SPCX slipped to ‘bullish’ from ‘extremely bullish’ levels a day ago amid ‘normal’ message volume.

One user said, “$SPCX The amount of Money come in this week from private placement companies and the publicly funded companies buying in this week will be billions”

Another user said, “$SPCX In my opinion, I can see this get back up over 200 pretty quickly. I’m sure long term this will go further but I’m targeting 200.”

SPCX stock has declined 13% over the past three months. 

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