Space Exploration Technologies Corp. (NASDAQ:SPCX) shares are remaining stable Monday. The company’s Nasdaq-100 weighting more than doubles in today’s quarterly index rebalance.

• SpaceX stock is holding steady today. Where are SPCX shares going?

SpaceX’s Nasdaq-100 Weighting More Than Doubles Today

Today’s quarterly rebalance pushes SpaceX’s share of the Nasdaq-100 up to 2.82%, more than twice the 1.28% figure it held before, with the new number derived from Friday’s closing share prices, per Bloomberg. The jump comes because SpaceX already ranks as the index’s seventh-biggest company by market value, sitting above the $2 trillion mark, even though its index weighting had lagged behind that ranking since its float remained thin coming out of July’s IPO.

That kind of jump forces index-tracking funds into action whether they want to move or not. Across the full ecosystem of QQQ, leveraged, inverse and other Nasdaq-linked products, analysts figure the rebalance could drive somewhere between $15.5 billion and $22 billion in total passive buying.

SpaceX-Owned xAI Releases Grok 4.7

Separately, xAI, the artificial intelligence company SpaceX folded into its operations earlier this year, rolled out Grok 4.7, billed internally as its top-performing model yet for software development and general knowledge tasks.

Compared with its predecessor, the new version runs on a bigger foundation model and went through an extended reinforcement-learning training cycle skewed toward lengthy, multi-hour problems, giving it sharper self-checking ability and a stronger handle on extended context.

xAI also says the release carries a completely rebuilt safety framework, calling it their toughest version yet at resisting jailbreak attempts while still keeping refusals of harmless requests to a minimum. Pricing holds steady with the prior generation at $2 per million input tokens and $6 per million output tokens, and the model is already live across Cursor, Grok Build, the Grok API and assorted third-party integrations.

SpaceX Has More Launches Coming This Week

Beyond the corporate and financial news, SpaceX’s launch schedule stays busy too. The company already got a Starlink mission off the ground via Falcon 9 out of California over the weekend.

Looking ahead, SpaceX has a USSF-385 mission scheduled for Friday, September 26, set to launch on a Falcon 9 from California with a window running from 7:56 to 10:56 a.m. ET, once again targeting a droneship landing for the booster.

SPCX Shares Are Level

SPCX Price Action: SpaceX shares edged down 0.48% at $151.97 at the time of publication on Monday, according to Benzinga Pro.

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