The successful SpaceX IPO, with SPCX shares jumping 19% on debut and a market cap of US$1.77b, has reminded investors how powerful enthusiasm for growth-oriented tech can be when fresh stories hit the market. Broader US indices, including the Dow, S&P 500, and Nasdaq, also gained as risk appetite picked up around the listing and its ambitious AI-in-space plans. For you, the key question is which existing growth stocks could be helped by this renewed interest in high-growth tech. Below, you will see 3 stocks from a growth-focused screener that appear positively exposed to this sentiment shift.

Wall Street's queuing for one rocket. While SpaceX counts down to its IPO, other companies tied to the new space race are already in orbit. → 20 Compelling Space Companies watchlist · Global Space Race Investing Ideas screener · Scan the sector by valuation on Rocket Lab's valuation page.

Tower Semiconductor (TSEM)

Overview: Tower Semiconductor is an independent foundry that manufactures customized analog and mixed signal chips, providing specialized technologies such as silicon photonics, RF and power management for customers across sectors including communications, PCs, automotive, industrial, aerospace and medical devices.

Operations: Tower generates about US$1.62b in revenue from contract electronics manufacturing services for its customers.

Market Cap: US$29.64b

Investors looking at the SpaceX fueled excitement around AI infrastructure may find Tower Semiconductor particularly interesting, as it is building a strong position in silicon photonics and RF chips that sit inside high speed data center and networking hardware. Recent SiPho contracts of US$1.3b for 2027 revenue and customer prepayments of US$290m indicate solid demand visibility. Forecasts for fast earnings and revenue growth sit alongside expanding profit margins. The flip side is a very high P/E multiple, heavy capital spending commitments above US$1.15b and legal and geopolitical risks that could affect future returns. The real question is whether this mix of specialty technology focus, multi fab expansion and valuation risk still fits your growth oriented tech watchlist.

Tower's mix of SiPho contracts, RF exposure and a stretched P/E suggests investors may be missing how growth and valuation tension really stacks up, including one potential swing factor inside the 2 key rewards and 1 important warning sign

EngageSmart (ESMT)

Overview: EngageSmart provides software and integrated payments tools that help organizations send bills, collect payments, and manage client relationships, from government and utilities to healthcare and wellness practices and non profits. Its platforms, including SimplePractice, InvoiceCloud, HealthPay24 and DonorDrive, are designed to handle scheduling, documentation, billing, insurance claims, online payments and digital fundraising in one place.

Operations: EngageSmart generates about US$203.6m from SMB Solutions and US$160.9m from Enterprise Solutions, with total revenue of roughly US$364.5m coming from the United States.

Market Cap: US$3.88b

EngageSmart operates in an area of software that has attracted renewed investor interest: recurring SaaS and payments platforms with high forecast growth in both earnings and revenue. Its core products support use cases such as healthcare practice management and digital bill payments, and recent results highlight client retention, higher gross margins and raised full year guidance as demand holds up. At the same time, the stock trades on a rich P/S multiple and above one estimate of fair value, and all liabilities coming from external borrowing leave the company more exposed to refinancing and interest rate risks. For growth focused investors, the balance between this growth potential and the current pricing and funding profile represents both opportunity and risk.

Recurring SaaS and payments growth on a rich P/S multiple can signal something investors have not fully priced in yet. See how the growth versus funding trade off really looks inside the analyst forecasts for EngageSmart.

Silicon Motion Technology (SIMO)

Overview: Silicon Motion Technology designs and sells controllers that sit at the heart of solid state drives and other flash based storage, powering PCs, data center SSDs, smartphones, IoT devices, industrial systems and cars under its SMI and Ferri branded products.

Operations: Silicon Motion Technology generates about US$1.06b in revenue from developing NAND flash controllers for solid state storage devices.

Market Cap: US$9.51b

Silicon Motion stands out in the current AI driven tech rally because it supplies the storage controllers that help AI servers, edge devices and next generation vehicles handle data at speed. Recent product launches for PCIe Gen 5 controllers and AI focused storage, plus partnerships with NAND makers and hyperscalers, sit alongside improving margins and a rising dividend. The trade off is a high P/E versus peers, heavier reliance on external borrowing and some earnings quality and governance questions, which may leave less room for error if growth cools. The SpaceX IPO uplift in growth tech could be a powerful tailwind, but the full risk reward picture is more nuanced.

AI storage excitement, combined with a high P/E and a rising dividend, suggests Silicon Motion's story is still being priced, but the real tell sits inside the 3 key rewards and 2 important warning signs (1 is major!)

The 3 stocks in this article are just a starting point, as the full Growth-Oriented Tech Stocks screener has identified 14 more companies with equally compelling growth and quality stories inside the Growth-Oriented Tech Stocks screener. Use Simply Wall St to quickly analyze these companies, filter for the catalysts and financial traits that matter to you, and identify the growth tech stocks that best fit your highest conviction ideas.

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If EngageSmart or any of these companies sound like a great opportunity, register for FREE with Simply Wall St and add your companies to a Watchlist to monitor the share price against the fair value the ideal entry point. Once you've made your move, manage your holdings with our Portfolio Command Center that filters out the noise to deliver only the most critical, actionable updates. Throughout your journey, our Community allows you to filter the best ideas from thousands of investor perspectives. By uncovering hidden catalysts and risks early, you'll accelerate your decision-making and stay one step ahead of the market.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.