SpaceX reclaimed a $2 trillion valuation this week, driven by growing enthusiasm for its AI platform and orbital computing ambitions.
Over the past week, SPCX climbed 6% and ASTS gained 1%, while PL plunged 13%, LUNR fell 9%, RDW dropped 8%, RKLB lost nearly 6%, and FLY declined 5%.
Oppenheimer raised its SpaceX price target to $280 from $250 and reiterated an “Outperform” rating, citing the company’s data, capital, GPUs and ability to rapidly build infrastructure.
The firm called SpaceX’s Cursor acquisition transformative and said Nvidia’s (NVDA) Rubin chips could deliver a one-year payback on investment.
Investor Gavin Baker made the larger bull case for orbital AI, arguing that reusable Starship launches could make space-based data centers economical and potentially push SpaceX toward a $20 trillion valuation.
“There’s not a physics reason why this can’t work,” Baker said, predicting that “an increasing fraction of the world’s compute is going to be in orbit.”
SpaceX and Nvidia have designed a space-optimized Vera Rubin NVL72 system targeted for launch in late 2027, a development Baker said is “kind of happening in plain sight.”
Execution risks remain, as CEO Elon Musk reportedly reshuffled SpaceX’s data-center leadership following engineering concerns and reliability problems at facilities in Tennessee and Mississippi.
Tesla plans to use Starlink to reduce connectivity dropouts across its robotaxi fleet and provide high-speed entertainment streaming, adding another potential catalyst for SpaceX’s valuation story.
Berenberg initiated AST SpaceMobile (ASTS) with a “Buy” rating and a $92 target, calling it the only company to have demonstrated true cellular broadband from space to unmodified smartphones.
The firm highlighted AST’s more than 60 carrier partnerships covering about 3 billion subscribers, premium spectrum holdings, and growing government business as key drivers of the bullish thesis.
The initiation followed $619,200 in ASTS purchases through accounts linked to director Adriana Cisneros, signaling insider confidence in the company’s growth trajectory.
AST’s satellite rollout is accelerating, with the company targeting about 45 satellites in orbit by early 2027 and a production rate of six per month.
Berenberg also initiated Rocket Lab (RKLB) with a “Buy” rating and an $83 target, calling it “perhaps the most compelling and differentiated long-term asset to own” in the space sector.
Rocket Lab lost NASA’s Mars Telecommunications Network contract to Blue Origin, a setback that renewed attention on Neutron’s delayed debut.
CEO Peter Beck acknowledged that “the window for an end-of-year launch is narrowing” for Neutron’s Virginia delivery, though he maintained the fourth-quarter target remains in place.
Cathie Wood’s ARK Invest bought 705,102 RKLB shares worth about $44.4 million across two sessions, signaling sustained institutional interest despite the NASA contract loss.
Intuitive Machines (LUNR) secured an order from an undisclosed new customer for two IM 300 spacecraft, expanding the platform into a new market segment beyond lunar landers.
Planet Labs (PL) reported record fiscal second-quarter revenue of $116.1 million, up 58% from a year ago and above the $104.22 million consensus, with adjusted earnings of $0.02 per share beating expectations for a $0.02 loss.
Planet raised the lower end of its fiscal 2027 revenue outlook to $430 million to $441 million, while its sovereign satellite-services pipeline now exceeds $4 billion, with more than $1 billion classified as near-term.
