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Barchart
Nauman Khan

SpaceX Just Got a Major Vote of Confidence From Wall Street. Its AI Business Is the Next Big Catalyst.

SpaceX SPACE TD Cowen SPCX Starlink Starship

Wall Street just gave SpaceX (SPCX) another vote of confidence, but the biggest part of the bull case has little to do with rockets. This time, TD Cowen initiated coverage of SPCX stock with a “Buy” rating and a $200 price target, putting the firm’s focus squarely on the company’s rapidly expanding artificial intelligence (AI) business.

This gives a huge boost to SpaceX because it is increasingly becoming more than a launch company. TD Cowen believes leasing AI computing capacity could eventually become one of its biggest revenue engines, adding another layer to the investment story.

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