TD Cowen has assigned SpaceX a buy rating and a $200 price target, arguing the company's real growth driver is the computing power it sells to rivals, not rockets. Alphabet and Anthropic have signed on to spend billions of dollars with SpaceX for that capacity.
TD Cowen has assigned SpaceX stock a buy rating and a $200 price target, betting the company's next growth engine sits in its data centers rather than in rockets.
Selling that computing capacity to outside companies will likely be a lucrative opportunity for SpaceX, according to the analysts behind the new rating. SpaceX has become a major seller of computing power, a resource artificial-intelligence firms need to train their models.
Alphabet and Anthropic have signed on to spend billions of dollars with SpaceX for that capacity, according to regulatory filings. For TD Cowen, that data-center business, not launches, is what could drive SpaceX's next leg of growth.
Source: MarketWatch.com (snippet-based)
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