Grok Gains Momentum, J.P. Morgan Bullish on SpaceX

BlockBeats News, August 25th, JPMorgan reiterates an "Overweight" rating on SpaceX (SPCX.O) with a target price of $240, citing increasing confidence in the Grok AI outlook.

The firm specifically mentioned SpaceX's acquisition of Cursor, reporting that Cursor's Annual Recurring Revenue (ARR) is approximately $4 billion, with 75% from enterprise business. JPMorgan anticipates that Cursor will enhance SpaceX's enterprise AI strategy, model training data, and Grok's performance.