Oppenheimer has raised its price target for SpaceX (SPCX) from $250 to $280, maintaining an 'Outperform' rating. Analyst Tim Horan highlighted SpaceX's vertically integrated AI platform, access to NVIDIA GPU resources, and rapid infrastructure expansion. He noted strong recent progress in Grok and Cursor, with AI usage exceeding expectations. The revised long-term revenue outlook is based on higher AI compute pricing and potential returns from the next-generation NVIDIA Rubin chip.
Investment firm Oppenheimer lifted its price target for SpaceX (SPCX) to $280 from $250 and kept its 'Outperform' rating, according to a note published on September 2.
Analyst Tim Horan said SpaceX's vertically integrated AI platform gives the company an edge in data, capital, and access to NVIDIA's GPUs. He also pointed to fast infrastructure buildout and solid recent results from AI tools such as Grok and Cursor. And, he said, AI usage is coming in ahead of expectations.
With higher pricing for AI compute services and possible returns from the upcoming NVIDIA Rubin chip in mind, Oppenheimer also lifted its long-term revenue forecasts for the space company.
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