SpaceX Could Help Create ‘Millions’ Of Jobs, Morgan Stanley Says – Here’s What Its Next Chapter Looks Like

Morgan Stanley said the next chapter of the SpaceX story is its role in converting energy into intelligence through physical robots.

• The firm reiterated its ‘Overweight’ rating and a $300 price target
• Earlier this week, Morgan Stanley said SpaceX looks ‘cheap and getting cheaper’ given its expected growth.
• SpaceX is also reportedly seeking about $40 billion in financing to purchase Nvidia chips.

SpaceX (SPCX) remained on investors’ radar on Wednesday after Morgan Stanley reportedly reiterated an ‘Overweight’ rating, adding that the space and tech behemoth will create “millions” of jobs.

“The next chapter of the SpaceX story is its role in converting energy into intelligence through physical robots manufactured on/near shore,” CNBC reported on Wednesday, citing Morgan Stanley. The analyst has a $300 price target on the stock, an 80% upside from current levels.

The firm had previously highlighted growing links between SpaceX and Tesla (TSLA) across AI compute, Starlink connectivity, energy storage, robotics and manufacturing.

SPCX shares were down more than 3% at the time of writing, tracking their first drop in four sessions.

Morgan Stanley Says SpaceX Still Looks Cheap

The latest comments follow another bullish note earlier this week from Morgan Stanley analyst Adam Jonas, who said SpaceX looks “cheap and getting cheaper” given its expected growth.

Jonas said SpaceX is trading at about 30 times its estimated 2028 enterprise value-to-EBIT multiple, compared with roughly 16 times for major AI peers. However, after factoring in SpaceX’s expected growth, he said the valuation falls to about 0.3 times, below the peer median of 0.5 times, according to Investing.com

The analyst sees several upcoming catalysts, including Starship Flight 15, expected in late October or early November, where a successful attempt to catch the returning ship could mark another major step toward full reusability. Flight 14 recently reached low Earth orbit and deployed 26 Starlink V3 satellites.

AI Spending In Focus

SpaceX is also reportedly seeking about $40 billion in financing to purchase Nvidia (NVDA) chips, including roughly $10 billion in bank loans and $30 billion in investment-grade debt.

Apollo Global Management is expected to lead the financing, with the transaction potentially closing in 2027.

Retail’s Take On SPCX

Retail sentiment surrounding SPCX on Stocktwits turned ‘bullish’ from ‘extremely’ over the past 24 hours, amid ‘high’ message volumes.

SPCX shares have gained more than 22% over their listing price.

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