JPMorgan doubles SpaceX price target to $500 as it adds ~200K GPUs per month
mitchdeg · x · 2026-10-21
J.P. Morgan raised its December 2027 SpaceX price target from $240 to $500 after Q3 2026 earnings, keeping an Overweight rating, driven by AI compute expansion:
- Compute capacity: 1.7 GW at end of Q3, expected 2.2 GW by late October, targeting 2.5–3.0 GW by year-end; JPM models 2.8 GW.
- GPU deployment: 200,000 GPUs added per month (600K in Q4), each drawing 2 kW.
- 2027 ambitions: 10 GW of new compute capacity, reaching 13 GW by year-end, above earlier expectations of 5–10 GW.
The retweeter scoffs that doubling a target hurts credibility, calling 99% of analyst targets "complete BS" and urging readers to do their own diligence.
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