US Stock Market Movement | SpaceX (SPCX.US) rises over 5%, Musk says AI will account for 99% of SpaceX's value in five years

According to reports from the Zhihu Caijing APP, on Wednesday, SpaceX (SPCX.US) surged over 5% in early trading, accumulating a gain of nearly 30% from its listing low, now priced at $140.13. On the news front, Elon Musk announced at a company-wide SpaceX meeting that AI revenue will "definitely" surpass all other SpaceX business revenue for the first time in September, and set a goal of reaching 10 gigawatts of AI computing power by the end of next year, corresponding to a potential annual revenue of $300-500 billion. He stated passionately, "We must achieve victory in AI. The future will be a world of AI and robots." This is also his clearest timeline and scale forecast for SpaceX's AI business.

At the meeting, he said: "In the long term, in the not too distant future—about four or five years from now—AI will account for 99% of SpaceX's value. I can say with certainty that in five years, AI will definitely be 99% of SpaceX’s value. And SpaceX’s value will be an astronomical figure."

Morgan Stanley believes the market is extremely conservative in its valuation of SpaceX's AI business; excluding the space segment, the implied valuation of the AI business is only about $12 per share. The acquisition of Cursor is seen as a key move to build an end-to-end enterprise AI platform. Leveraging advantages in computing power, data, and ecosystem synergy, Cursor’s ARR is expected to reach $33 billion by 2030. The firm maintains a $300 base target price, with a bull case scenario of $600, representing a potential upside of 350% from the current share price.