SpaceX (NASDAQ:SPCX) shares could reach $600 as investors get more clarity on the Cursor/Grok AI story and re-rate the company’s AI business — a bull-case view Morgan Stanley analyst Adam Jonas said could play out as investors digest the Cursor acquisition and AI story, per CNBC.
The firm projects Cursor annual recurring revenue to hit $8 billion by year-end and about $33 billion by 2030.
"As investors see more breadcrumbs on the Cursor/Grok story, we see potential for the implied valuation discount on SpaceX’s AI business to lift, driving potentially substantial appreciation of the stock," analyst Jonas wrote, according to CNBC.
Read Also: SpaceX Earnings Highlights from Cathie Wood's ARK Invest SpaceX's Starship and AI Ambitions SpaceX is exploring Starship's potential to revolutionize AI data centers.
At the ITU’s AI for Good Global Summit, SpaceX VP Stephanie Bednarek highlighted how orbital AI data centers could overcome Earth’s power, land, and cooling constraints.
