SpaceX has even more room to run after AI coding deal, Oppenheimer says

SpaceX has room to run after the Cursor AI coding deal, says Oppenheimer, boosting its upside post‑IPO. The company began trading at about $135 a share last Friday, with a run‑up of roughly 42% since the IPO. Oppenheimer’s note argues the Cursor acquisition adds two assets: an autonomous coding platform and a database with over one million users, underpinning SpaceX’s AI flywheel and margins. Cursor is expected to bring annual recurring revenue near a $4 billion run rate, rising toward $6 billion by 2026, while supporting SpaceX’s AI initiatives with shared data and engineering resources. Analysts covering SpaceX include four buys or strong buys among five, signaling bullish sentiment on the domestic AI platform strategy.