Tesla stock rose 1% in overnight trading after jumping nearly 6% to close at an all-time high of $424.77 Wednesday.

Tesla shares have surged over 70% this year, with most of those gains coming since Donald Trump's reelection amid hopes CEO Elon Musk's close ties with the President-elect could benefit the company. Musk, who appeared at Trump events prior to the election, was recently tapped to co-lead the newly proposed Department of Government Efficiency (DOGE).

Some analysts have said they believe Tesla could benefit if the new administration ends the Biden-era $7,500 EV tax credit, given the company's longer history than competitors of making profitable EVs, but Trump's pro-tariff stance may hit Tesla's China sales.

Destiny Tech100 Inc rallied 5.8% in overnight after soaring 8% on Wednesday.

SpaceX and its investors have agreed to purchase as much as $1.25 billion of insider shares in a transaction valuing Elon Musk’s rocket and satellite maker at about $350 billion, according to an internal email seen by Bloomberg.

(Destiny Tech100 is a fund that offers retail investors access to high-profile private startups, and SpaceX is Destiny Tech100's largest holding, making up about 37.6% of the portfolio.)