According to CoinMeta, JPMorgan Chase reaffirmed its “overweight” rating on SpaceX (SPCX.O), with a target price of $240, due to its growing confidence in the prospects of Grok artificial intelligence. The institution highlighted SpaceX’s acquisition of Cursor, stating that Cursor’s annual recurring revenue (ARR) is approximately $4 billion, of which 75% comes from corporate business. JPMorgan Chase expects that Cursor will enhance SpaceX’s corporate artificial intelligence strategy, model training data, and the performance of Grok.