SpaceX shares extended their rally on Friday, climbing as much as 8.3% after Chief Executive Officer Elon Musk spoke at the Baron Investment Conference.

Musk stated that SpaceX's fourth-quarter revenue will grow by "roughly" 70% compared with the third quarter, and that the rocket, satellite, and artificial intelligence company is on track to reach a $100 billion annualized revenue run rate in December.

Shares of SpaceX and Tesla had already moved higher ahead of Friday's conference.