SpaceX, $SPCX, says its stake in Elon Musk’s Boring Co. produced a $561 million investment gain in the third quarter. That was more than half of SpaceX’s “other income” for the quarter, and about 14% of its net income of just over $4 billion.

SpaceX reported that its stake in The Boring Company, the tunneling firm founded by Elon Musk, generated a $561 million investment gain in the third quarter, accounting for more than half of the company's "other income" and roughly 14% of its net income for the period. The disclosure highlights how non-operating mark-to-market valuation changes on related-party holdings can materially shape reported earnings, independent of core launch and satellite operations. For traders, the transmission runs through earnings quality and valuation credibility: a large share of profit tied to a revaluation of an affiliated private asset invites scrutiny of how that stake is priced and whether similar gains could reverse. Securities linked to Musk, including MUSK and ELON as referenced in the feed, are most sensitive to perceptions of governance and related-party dealings, as investors weigh whether intercompany valuations are reliable signals of underlying performance. The next catalyst to watch is the full quarterly filing detail on how the Boring Company stake was valued, including any new funding rounds or third-party marks that would substantiate the $561 million figure.

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