SpaceX gains fresh upside as analysts raise targets on AI infrastructure plans

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SpaceX gains on AI plans

Highlights

Bernstein raises SpaceX target to $268 from $248 and Deutsche Bank lifts it to $250 from $230, citing AI infrastructure build plans.
SpaceX aims to bring 10 gigawatts of new computing capacity online by end of next year, potentially pricing compute at $35 billion per gigawatt versus industry standard of $50 billion.
LSEG data shows 33 of 43 analysts rate SpaceX a buy or strong buy, while shares are roughly flat over the past month.

AI compute plans drive higher valuation targets

As reported by CNBC, Bernstein and Deutsche Bank both raise their price targets on SpaceX while maintaining positive ratings, arguing that the company’s artificial intelligence infrastructure plans are not yet fully reflected in the stock. Bernstein lifts its target to $268 from $248, while Deutsche Bank increases its target to $250 from $230.

Bernstein analyst Douglas Harned says the firm is raising its SpaceX outlook primarily because of terrestrial AI build plans. He says the case for a multi-trillion dollar valuation rests on the success of orbital data centers, but adds that the company’s terrestrial AI outlook materially strengthens its broader revenue path.

Deutsche Bank analyst Edison Yu says the value tied to SpaceX’s processing power may still be underappreciated. He writes that estimates for the next few quarters may remain too low and that, over a longer horizon, the company’s ability to turn a compute advantage into stronger inference and intelligence capabilities continues to be undervalued.

Capacity targets support broader Wall Street optimism

Yu says SpaceX is aiming to bring roughly 10 gigawatts of incremental computing capacity online by the end of next year. He estimates that this compute could be priced at about $35 billion per gigawatt, below an industry standard of $50 billion per gigawatt, giving the company a potential cost advantage over peers.

That pricing gap could help support additional shareholder value if SpaceX executes on the buildout as planned. The bullish calls from Bernstein and Deutsche Bank also align with broader Wall Street sentiment, with LSEG data showing that 33 of 43 analysts covering the company have a buy or strong buy rating, while the shares are roughly flat over the past month.

Our earlier report on the U.S. AI data-center buildout highlighted how soaring costs, construction delays, and power-grid limits are raising doubts about how quickly new compute capacity can realistically come online. We noted that only a portion of planned projects were viewed as credible, with tighter financing conditions and local opposition increasing the risk that ambitious expansion plans could slip or be scaled back.

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