SpaceX's AI infrastructure plans are not yet fully priced in, analysts say

What happened

Bernstein raised its SpaceX price target to $268 from $248 with an outperforming rating, and Deutsche Bank raised its target to $250 from $230 with a buy rating, citing terrestrial artificial intelligence build plans as a reason for a brighter outlook.

Confirmed

Global impact / market context

Higher analyst targets suggest expected revenue from AI computing capacity is not yet reflected in the share price. If SpaceX builds this capacity cheaply, future revenue estimates could rise, which may support the stock and justify a much larger valuation over time.

Analyst inference

The article frames SpaceX as an aerospace company whose value increasingly depends on computing power, not just rockets. Analysts argue investors underestimate AI processing capacity and inference, which means the computing that runs trained AI models, and that near-term estimates may still be too low.

Analyst inference

What to watch

1. SpaceX aims to bring roughly 10 gigawatts of incremental computing capacity online by the end of next year, according to Deutsche Bank analyst Edison Yu. Confirmed
2. Watch whether SpaceX actually builds that computing capacity on schedule and at the stated cost, since cheaper compute is central to the analysts' case for higher revenue and a larger valuation. Proposed
3. Watch whether other analysts raise their revenue estimates for the next few quarters, because the article says such estimates may still be too low, which would signal wider acceptance of the AI growth story. Analyst inference

Evidence

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