Wall Street Just Put a $280 Target on SpaceX's AI Bet

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Wall Street Just Put a $280 Target on SpaceX's AI Bet Faizan Farooque Wed, September 2, 2026 at 6:07 PM EDT 1 min read SPCX NVDA This article first appeared on GuruFocus . Oppenheimer is simply getting more optimistic on SpaceX ( SPCX , Financials ) with its AI forecast. The brokerage boosted its target price on the stock to $280 from $250 while retaining an Outperform rating, saying more AI usage and improved compute economics should meaningfully boost long-term revenue. Warning! GuruFocus has detected 1 Warning Sign with SPCX. Is SPCX fairly valued? Test your thesis with our free DCF calculator. Analyst Timothy Horan also raised his longer term revenue expectations by approximately 10%, which may compound to a roughly 20% growth over time, he said. The bullish argument is built on the increasingly integrated AI platform from SpaceX. The company's access to data, capital and GPUs, and its link with Nvidia were advantages that may help it build AI infrastructure faster than rivals, Horan said. He also pointed to the company's acquisition of Cursor as a critical part of the tale, noting that its agentic coding data and logic may help boost the larger AI platform. One of the more eye-catching metrics in the paper is the estimated payback period on Nvidia's Rubin chips. Oppenheimer predicts that the new Rubin hardware might pay for itself in about a year. The firm also thinks SpaceX could get all of the AI revenue from Cursor or Grok, versus about half the revenue when it's largely an infrastructure supplier. The biggest risk is spending. Infrastructure is still a bottleneck, Oppenheimer added, meaning SpaceX would likely have to put up significantly bigger capital expenditures to fulfill demand. The next question is whether AI revenue can grow fast enough to justify that outlay and support the new $280 target.

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