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Benzinga
Benzinga
Business
Daragh Thomas

SpaceX Soars 13% After Analyst Upgrade Says AI Spending Could Pay Back in Under a Year

Rocket,Launch,A,Spacex,Falcon,Heavy,Rocket,Carrying,Nasas,Europa

SpaceX (NASDAQ:SPCX) shares jumped roughly 13% Friday after Argus Research turned bullish on the economics of the company’s massive artificial intelligence buildout.

Argus analyst Steven Silver upgraded the stock to Buy from Hold with a $160 price target, saying the firm is “encouraged” by the rapid payback on SpaceX’s AI investments.

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