Macquarie Reiterates SpaceX Outperform With $250 Target as AI Thesis Implies Nearly 100% Upside
Updated
Updated · Benzinga · Jul 21
Macquarie Reiterates SpaceX Outperform With $250 Target as AI Thesis Implies Nearly 100% Upside
3 articles · Updated · Benzinga · Jul 21
Summary
Macquarie on Tuesday kept its Outperform rating on SpaceX and set a $250 price target, versus the stock’s current level near $127.
The bank tied that valuation to both launch economics and emerging AI compute revenue, arguing SpaceX’s Starlink network, reusable rockets and in-house chip and data-center buildout create major AI optionality.
Macquarie’s upside case centers on orbital AI data centers—potentially up to 1 million satellites using near-continuous solar power—to ease land, cooling and power constraints facing hyperscale facilities.
Anthropic has already agreed to use all capacity at SpaceX’s Colossus 1 data center, a deal covering about 300 megawatts of power and more than 220,000 Nvidia GPUs.
Those early contracts support Macquarie’s view that renting out compute capacity could turn SpaceX into a scalable “compute utility” extending far beyond its launch business.
With its AI venture burning billions, can SpaceX's orbital data centers truly justify their soaring stock valuation?
As SpaceX builds a compute empire in orbit, who will govern this powerful new frontier beyond terrestrial laws?
Is moving data centers to orbit solving the AI energy crisis or just creating an uncontrollable new one in space?
SpaceX Bets $60 Billion on Cursor: The Bold Push for AI Stack Dominance and Orbital Compute
Overview
SpaceX is set to close its $60 billion all-stock acquisition of Anysphere, the company behind Cursor, in Q3 2026. This move is part of Elon Musk’s vision to vertically integrate SpaceX’s AI stack by combining powerful compute infrastructure, xAI’s models, and Cursor’s advanced developer tools. By investing heavily in Cursor, SpaceX aims to build a comprehensive AI ecosystem, treating agentic coding tools as strategic assets. The integration will create a seamless workflow from AI model development to deployment, boosting the efficiency and speed of SpaceX’s engineering and software development processes.