JPMorgan sees a bigger AI opportunity for SpaceX

BULLISH: JPMorgan is reiterating its Overweight rating and $240 price target on $SPCX as it sees the company’s AI opportunity getting larger.
The firm views the acquisition of Cursor as a major catalyst.
The coding platform reportedly generates around $4B in annual recurring revenue, with roughly 75% coming from business customers.
JPMorgan believes Cursor could strengthen SpaceX’s enterprise AI push, provide valuable training data and accelerate improvements in Grok.
For $SPCX, the thesis is increasingly expanding beyond launch and satellites into enterprise AI infrastructure and software.