SpaceX Is Not Just Rockets, AI Drives Stock Target to US$280

Just two months after listing on the Nasdaq, SpaceX stock has already made Wall Street research desks work overtime. Oppenheimer, one of the securities firms that has closely tracked the SPCX ticker since day one, has just revised its SpaceX stock target to US$280 per share.

Interestingly, the reason behind this increase is not about the Starship rocket or Starlink satellites that have long been the company’s identity under Elon Musk, but a relatively new line of business: artificial intelligence.

This phenomenon is worth watching because it shows how the AI narrative is now permeating almost all sectors, including aerospace companies that were originally synonymous with space affairs.

Key Takeaways

• Oppenheimer raises SpaceX (SPCX) stock target to US$280, driven by AI business expansion through Grok and the US$60 billion acquisition of Cursor.
• SpaceX's AI segment grew 250% year-over-year to US$2.6 billion, but capital expenditure also exploded to US$15.8 billion in just one quarter.
• Price targets from Wall Street analysts vary widely, from US$62 (most skeptical) to US$900 (most bullish).

SpaceX Ventures into AI Business: From Grok to Cursor Acquisition

SpaceX officially listed on the Nasdaq on June 12, 2026, with an offering price of US$135 per share, raising US$75 billion, and immediately became the largest IPO in capital market history, as reported by Reuters. However, what makes this story even more lively is not just about rockets, but SpaceX's rapid move into the AI industry.

In February 2026, SpaceX merged with Elon Musk's xAI, bringing the Grok chatbot into the company's business portfolio. Not stopping there, in mid-June 2026 SpaceX acquired Cursor through an all-stock deal worth US$60 billion, strengthening its position in the AI-based code automation market.

On the infrastructure side, the company is also reportedly forging an exclusive chip partnership with Nvidia, including utilizing Nvidia's latest Rubin architecture to support its AI computing ambitions, even eyeing data centers in orbit.

The combination of Grok, Cursor, and access to the latest-generation chips is what has changed the way analysts view SpaceX — from just a rocket company to a potential major player in AI infrastructure.

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Oppenheimer Sets US$280 Target, Other Analysts Weigh In

Oppenheimer's target journey for SPCX stock has been quite dynamic. The firm initially started coverage with a US$190 target when SpaceX just went public, then raised it to US$250 in mid-June 2026 amid optimism about Starship and AI growth.

The latest revision to US$280 continues that trend, reflecting confidence that SpaceX's AI business monetization is moving faster than initial estimates.

Oppenheimer is not the only bullish one. Several other major firms have also set aggressive targets:

• Morgan Stanley — US$300, arguing that SpaceX can "turn energy into intelligence" through AI
• Stephens — US$296
• Arete Research — US$401 for 2027, driven by Starship reusability and Starlink expansion
• JPMorgan — raised from US$225 to US$240, projecting annual revenue to reach US$1 trillion by 2030
• Citi — official target US$200, but bull case could reach US$900

For comparison, Morningstar is the most skeptical voice with a valuation of only US$63 per share, considering the AI and Starship business projections still too speculative to be used as a valuation basis, as reported by Yahoo Finance.

Such a wide range — from US$63 to US$900 — shows just how divided Wall Street's views are on SpaceX's stock prospects.

Also Read: Nvidia AI Funding $500 Billion, Will AI Crypto Tokens Also Benefit?

Starlink Remains the Backbone, But AI Spending Makes Investors Uneasy

Image source: Generated by AI

The second-quarter 2026 report became SpaceX's first test as a public company. Revenue came in at US$7.8 billion, up 92% from the previous year, with AI revenue jumping 250% to US$2.6 billion. On paper, these numbers are solid.

The problem lies on the spending side: AI capex exploded to US$15.8 billion in just one quarter, doubling from US$7.7 billion in the previous quarter, as reported by TipRanks.

The combination of jumbo capex plus concerns about share unlock — potentially adding up to 140% more shares in circulation — sent SPCX down about 11% after the report.

Investors are questioning how long Starlink's cash flow must support two ambitions at once: Starship development and AI expansion, both of which are still burning cash.

Also Read: BIS Reveals New Potential for XRP Ledger in Digital Financial Systems

To date, Starlink remains the financial backbone of SpaceX. This segment contributed 61% of total 2025 revenue (about US$11.4 billion) with operating margins near 40%.

Meanwhile, the AI segment, despite being the fastest-growing, is still posting significant operating losses. Seasoned investors like Michael Burry have even publicly called SpaceX's valuation too "aspirational" compared to current fundamentals.

Interestingly, this dynamic is also reflected in the crypto derivatives market. Data from CoinGlass shows that the tokenized version of SPCX is trading around US$150, with daily futures volume reaching US$3.19 billion and open interest at US$1.06 billion — signaling high speculative interest outside conventional stock exchanges.

Also Read: 10 Free Bitcoin Mining and Faucet Sites 2026, Which Ones Are Legit?

Conclusion

SpaceX's stock target of US$280 from Oppenheimer reflects a major narrative shift: a company once known for Falcon 9 and Starlink is now being valued as an AI player through Grok, Cursor, and Nvidia chip partnerships.

However, this optimism goes hand in hand with real risks — ballooning capital expenditures, an AI segment still losing money, and a very wide analyst target range from US$63 to US$900.

For potential investors, SPCX stock offers exposure to two major trends at once (space exploration and AI), but with volatility that needs careful consideration before taking a position.

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FAQ

What is SPCX stock? 

SPCX is the Nasdaq ticker for Space Exploration Technologies Corp (SpaceX), the rocket and satellite internet company owned by Elon Musk that went public on June 12, 2026.

Why did Oppenheimer raise its SpaceX stock target to US$280? 

The increase is driven by the growth of SpaceX's AI business through Grok and the Cursor acquisition, which are seen as accelerating monetization beyond rocket and Starlink businesses.

What are the main risks of investing in SpaceX stock? 

The main risks include massive AI capital expenditures, the AI segment still being loss-making, and potential price pressure from future share unlocks.

What is the range of price targets for SpaceX stock from analysts? 

The range is very wide, from US$63 (Morningstar) to US$900 (Citi bull case), reflecting differing views on how realistic the AI and Starship business projections are.