Isar Aerospace Reaches Orbit, Raising the Competition for SpaceX. What That Actually Means for SPCX Stock.

SpaceX (SPCX) announced a $13.32B annualized AI-compute contract with an unidentified customer, starting December 1. The deal represents 13.3% of SpaceX's $100B annual revenue target. Shares remained at $146.82 post-announcement. SpaceX aims to expand compute capacity from 2GW in 2026 to 10GW in 2027, launching Starmind satellites in 2027. GuruFocus rates SpaceX 15/100, noting weak profitability and growth.

SpaceX's shares (SPCX) fell 3.9% to $147.55 on Wednesday as 319 million shares were released from lockup. This was the third such release since the company's IPO in June. The stock had risen 9% in the three sessions prior to the release. SpaceX's market cap is about $2 trillion, with a price-to-sales ratio of over 60. The company reported $7.8 billion in second-quarter revenue, nearly double year-over-year, but also a $541 million loss.

Britain's Ministry of Defence confirmed using SpaceX's Starshield, the first non-U.S. government to do so. The UK spent nearly $40 million on SpaceX's satellite services. SpaceX has over $6 billion in U.S. government Starshield contracts. The company reported a $541 million net loss on $18 billion in capex. Analysts target $214.57 for SPCX, which trades at 204x forward PE.

SpaceX CFO Bret Johnsen reaffirmed a $100B annual revenue goal, citing a $1.11B monthly AI computing deal starting in December, adding $13B yearly. Q2 revenue hit $7.81B, up 91.9% YoY, with EPS beating estimates. Shares opened at $148.18, with a consensus target of $221.06. Concerns include high valuation and lockup expirations.

SpaceX (SPCX) stock rose Thursday amid reports of data center overhauls and a UK defense deal. The company is prioritizing reliability over speed, replacing data center leaders with SpaceX engineers. Meanwhile, the UK spent $40M on SpaceX satellite services, including Starshield. SpaceX stock went public in June at $135 per share, raising $85.7B at a $1.77T valuation.

Wells Fargo analyst Steven Cahall predicts SpaceX's wireless push will pressure telcos like AT&T, Verizon, and T-Mobile, while tower REITs and cable operators may benefit. SpaceX's Q2 revenue grew 66% YoY to $4.29B, and it gained 65MHz of EchoStar's spectrum. Tower REITs like American Tower, Crown Castle, and SBA Communications could see steady income, while Charter and Comcast may profit from Wi-Fi offload.