JPMorgan maintains Overweight rating on SpaceX, citing AI integration and Cursor acquisition

JPMorgan reiterated its $240 price target for SpaceX, emphasizing the strategic value of the Cursor acquisition in bolstering Grok's AI capabilities and enterprise revenue. The analysis suggests that Cursor's $4 billion ARR and data infrastructure will accelerate SpaceX's model training and market positioning, though the integration timeline remains speculative.