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SpaceX (SPCX) stock investors suddenly have another growth story to watch. This time it is not rockets, satellites, or Starlink. It is AI.
The company recently introduced a no-code voice agent builder through its AI operations. The tool allows users to create voice assistants without heavy programming work. That matters because companies increasingly want AI products that are easier and faster to deploy.
The new AI voice builder may look small at first glance. But investors should pay attention. Many companies want AI tools without needing teams of developers. SpaceX appears to be targeting exactly that market. Users can create custom voice agents in minutes. Pricing also appears designed for broad adoption.
The timing is also interesting because SpaceX is already growing quickly. The company recently reported annual revenue growth of 33%. But growth has come with a cost. Heavy investments in AI infrastructure and expansion continue to pressure profits.
Investors are now asking a bigger question. Could AI become another major growth engine for SpaceX alongside launches and Starlink?
SPCX stock is still priced for huge expectations
SPCX stock surged from its IPO price of $135 to more than $225 at one point. That represented a gain of roughly 66%. Since then, shares pulled back toward the mid-$150 range as investors locked in gains and concerns around future spending increased.
That reaction makes sense. Wall Street likes growth stories. But Wall Street also wants proof that expensive growth will eventually produce profits.
SPCX stock does not look cheap. The company currently trades around 110 times sales. That is far above most technology and communications peers. Traditional valuation metrics also become difficult because the company remains unprofitable. The market is clearly placing a premium on future opportunities rather than current earnings.
Investors are essentially betting on three businesses at once: rockets, satellite internet, and AI. That can create enormous upside if execution remains strong. But it also creates risk if growth slows.
SpaceX’s Business Is Still Expanding Rapidly
SpaceX recently delivered strong results, even if profitability remains a work in progress.
The latest quarter showed revenue of roughly $4.7 billion, rising 15% year-over-year (YoY). However, the company did not beat expectations by a wide margin. Revenue growth slowed from prior periods as pricing pressure affected Starlink services.
Meanwhile, losses remain elevated because SpaceX continues pouring money into future projects.
The connectivity business remains the biggest revenue driver. Starlink has become a giant business by itself. Subscriber growth keeps moving higher, reaching more than 10 million users globally.
SpaceX also ended the quarter with nearly $15.9 billion in cash and equivalents. That gives management room to continue investing aggressively.
The story here looks pretty simple. The company is sacrificing short-term profits for long-term growth.
What Analysts Think About SPCX Stock
Analysts remain mostly optimistic, although some caution is starting to appear. Wedbush recently initiated coverage with a $190 price target and believes SpaceX can become a major AI and infrastructure player.
On the other hand, Oppenheimer moved even higher and raised its target to $250 after becoming more positive on the company's AI opportunity. The firm said SpaceX is "the only vertically integrated AI firm with the required capital, data, hardware and engineering talent."
Not everyone is fully convinced. Susquehanna assigned a “Neutral” rating with a $170 target. The firm argued that current prices already assume aggressive future growth.
Overall, Barchart data shows SPCX stock carries a “Moderate Buy” consensus rating. The mean price target set by the analysts is $202.38, which suggests a 29% upside premium.
So it's clear that Wall Street sees upside ahead. The bigger question is whether SpaceX can turn that growth into profits.
