SpaceX shares rose over 12% on Friday after Argus Research upgraded the tech giant's rating to Buy from Hold and set a $160 price target, citing rapid returns on the company's aggressive artificial intelligence investments and a revenue trajectory that exceeded initial projections.
Argus described the higher-than-anticipated capital expenditures, which were mostly focused on AI data centers and computing infrastructure, as providing "rapid payback" because of "robust growth" in computing capacity.
At 12:02 pm ET, SpaceX shares were up 12.97%, going for $129.82 apiece.
https://breakingthenews.net/Article/SpaceX-soars-12-after-analyst-upgrade/66880313
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