Elon Musk's company has won praise from analysts and benefited from a general bounce in the tech sector

Analysts, on average, see room for SpaceX's stock to rise 50%, according to FactSet data.

For the first time in close to two months, SpaceX is again worth more than $2 trillion, showing how the stock has come back into favor after a volatile early stretch on the public market.

SpaceX shares (SPCX) were up more than 7% in Thursday trading, breaching the $150 mark for the first time since July 10. If the stock stays above $147.37 a share, SpaceX will end the day with a market capitalization above $2 trillion, according to Dow Jones Market Data. It was last valued at $2 trillion on July 6.

Just a handful of other U.S. companies are worth more than $2 trillion, including Amazon.com (AMZN) and Microsoft (MSFT).

SpaceX's rebound comes as analysts continue to see potential for the stock and amid a broader market rally. SpaceX has an average target price of $225.87 a share, which implies room for a 50% increase relative to current levels, according to FactSet data, and several analysts have reiterated positive ratings on the stock in recent days.

That includes Oppenheimer's Timothy Horan, who expects SpaceX to be a major beneficiary of the current shortage in artificial-intelligence resources. The analyst also said AI revenue is growing faster than expected as SpaceX develops new, higher-functioning models.

SpaceX "has the ability to bring on infrastructure faster than anyone else, and is using this infrastructure and its data to improve its own models faster than anyone else," Horan wrote in a note to clients on Wednesday as he maintained a buy rating on the stock.

Don't miss: Tesla's stock is rallying as investors prepare for a 'storm of Cybercabs'

Shares of another Elon Musk company, Tesla (TSLA), were also showing strong gains on Thursday, rising 7% in recent action as investors geared up for a launch event featuring the Cybercab robotaxi.

SpaceX could have a part to play in Thursday's event, given the companies' close relationship with one another. Starlink, a satellite-internet service owned by SpaceX, will be integrated in the Cybercab, Musk told investors in July. He said that will help Tesla avoid losing connection with its cars and thereby winding up with "robotaxis missing in action." The connectivity could also work for entertainment purposes.

"If people are sitting in the car, they're going to want to do high-productivity stuff or want entertainment. And with Starlink, you can watch 4K live sports in the car," Musk said on an earnings call.

Tesla's fellow "Magnificent Seven" large technology stocks were showing gains on Thursday. That includes Nvidia (NVDA), which said Thursday that it would acquire the AI startup Hugging Face for nearly $13 billion.

Those gains were pushing the Roundhill Magnificent Seven exchange-traded fund MAGS closer to a record closing high, according to Dow Jones Market Data. The ETF is trading less than a percentage point below its all-time closing high of $70.94 on May 14, according to Dow Jones Market Data.

Nearly all sectors of the S&P 500 SPX were up as of Thursday afternoon, with materials XX:SP500.15 the sole outlier. That sector, however, was down by less than 1%. The tech-heavy Nasdaq 100 NDX was up 1%.

-William Gavin