On Monday, shares of companies in the space sector experienced a collective upward movement.

Rocket Lab USA, Inc. (RKLB.US) and SpaceX (SPCX.US) saw their shares climb more than 7%.

Other space-related stocks, including Virgin Galactic, Redwire, and AST SpaceMobile, also advanced, with gains exceeding 5%.

The rally followed news that SpaceX's total market capitalization has surged to $2.28 trillion, marking an intraday jump of 8%.

This valuation officially surpasses the $2.26 trillion market cap of semiconductor foundry giant TSMC, propelling SpaceX into the top tier of U.S. stock market valuations, where it now ranks sixth.

The sustained and rapid growth in SpaceX's market value, driven by its dominant position in commercial spaceflight and its Starlink satellite internet venture, has provided a significant boost to the broader space stock sector.