SpaceX AI Compute Expansion
Mizuho Maintains Buy Rating as SpaceX Scales AI Compute and Infrastructure
Anonymous
Analysts remain bullish on SpaceX, with Mizuho reiterating a Buy rating and $200 price target on expectations that the company can sustain premium pricing for its expanding AI-compute capacity; Morgan Stanley has also maintained a more optimistic valuation. SpaceX is scaling its Colossus AI supercomputers with a large expansion of Nvidia chips, serving its own AI projects as well as outside customers, including Google and Anthropic. Google is also using SpaceX’s Transporter-18 mission to test orbital AI hardware for Project Suncatcher, an early experiment in whether computing systems could eventually operate in space. The developments reinforce a broader investment thesis that SpaceX could grow beyond launch services and Starlink by building businesses around its infrastructure, though its stock has recently faced declines and pricing, capacity execution, and customer economics remain important uncertainties.
Key Points
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Elon Musk said Colossus 2 had 110,000 Nvidia GB200 chips and 440,000 GB300 chips, with three further batches of 220,000 GB300 chips potentially coming online by year-end. He said the repeated 110,000-chip increments reflect how many fiber-optic cables can connect to a central switch.
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SpaceX struck a deal with the U.S. Space Force that gives the company access to classified space-tracking data; in return, SpaceX is sharing data from nearly 30,000 Starlink cameras to help track potential collisions.
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Musk claimed SpaceX’s AI effort could reach a leading position in about six months if its progress continues, and said it could reach Fable- and GPT-6-level performance within two to three months.
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Google’s first Project Suncatcher satellite is intended to gather engineering data on how its TPUs withstand launch forces, radiation and extreme temperatures, as well as test heat pipes and radiators. The mission is a hardware experiment, not a commercial orbital data center.
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After SpaceX shares fell below $150, 328.4 million shares became eligible for trading when lockup restrictions expired. The article noted that the unlock could allow existing holders to sell, but did not require them to do so.
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