QUICK SPARK: SpaceX Stock Could Hit $600, Morgan Stanley Says

SpaceX (NASDAQ: SPCX ) shares could reach $600 as investors get more clarity on the Cursor/Grok AI story and re-rate the company’s AI business — a bull-case view Morgan Stanley analyst Adam Jonas said could play out as investors digest the Cursor acquisition and AI story, per CNBC.

The firm projects Cursor annual recurring revenue to hit $8 billion by year-end and about $33 billion by 2030. “As investors see more breadcrumbs on the Cursor/Grok story, we see potential for the implied valuation discount on SpaceX’s AI business to lift, driving potentially substantial appreciation of the stock," analyst Jonas wrote, according to CNBC.

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At the ITU’s AI for Good Global Summit, SpaceX VP Stephanie Bednarek highlighted how orbital AI data centers could overcome Earth’s power, land, and cooling constraints.

The company plans to demonstrate orbital AI computing by late 2027, with broader deployments potentially starting in 2028.

Ron Baron’s Vision for SpaceX Investor Ron Baron envisions a $14 trillion valuation for SpaceX, driven by Starlink and space-based AI infrastructure.

He predicts that within three years, SpaceX’s orbital data centers will be operational, benefiting from reduced capital costs and abundant solar power.

Baron remains committed to his $3 billion investment, dismissing short-term market pressures.

Technical Analysis SPCX began trading on June 12, 2026.

The stock’s largest one-day move was a 19.6% gain on June 15, reaching its highest close of $201.80 on June 16.

Despite recent challenges, SPCX added about $137.27 billion in market cap over one week.

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