Congressman William Timmons (R-S.C.) disclosed a purchase of SpaceX stock valued between $50,000 and $100,000 on June 15, marking his first reported trade since 2019. The investment comes as Timmons serves on the House Committee on Oversight and Government Reform and the Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence. SpaceX stock traded between $168.35 and $193.00 on June 15, though shares were recently at $127.64.

Timmons is now the sixth member of Congress to own SpaceX stock. Other members holding shares include Rep. John James (R-Mich.), Rep. John McGuire (R-Va.), Rep. Gil Cisneros (D-Calif.), Rep. Daniel Meuser (R-Pa.), and Sen. Lisa McClain (R-Mich.). Cisneros, Meuser, and McGuire disclosed purchases following the June 12 IPO, buying on June 18, June 15, and June 15, respectively.

Committee Assignments and Contracts

The committee roles of these members have drawn attention due to SpaceX's extensive federal contracts. Cisneros and McGuire serve on the House Armed Services Committee. SpaceX holds contracts with the Pentagon, NASA, and the Space Force. James serves on the House Energy and Commerce Committee, which has jurisdiction over the Federal Communications Commission, a key regulator for SpaceX.

Macquarie has reiterated an Outperform rating on SpaceX (NASDAQ:SPCX) and established a $250 price target, positioning the company as a premier AI infrastructure asset with significant upside potential. The firm argues that pullbacks in the stock represent buying opportunities, driven by SpaceX's vertical integration and emerging AI compute revenue streams. This target implies nearly 100% upside from the current level near $127 per share.

Macquarie’s Valuation Framework

The analysts utilize a blend of Sum-of-the-Parts and Discounted Cash Flow analysis to justify the valuation, tying it to both core launch economics and AI compute potential. Macquarie emphasizes "significant upside from AI optionality," suggesting that even partial realization of SpaceX’s long-term compute ambitions could justify valuations far above the current price. The firm views SpaceX's orbital networks and vertically integrated data centers as a "compute utility" capable of compounding beyond launch revenues.

Compute Demand and Bottleneck Relief

Macquarie highlights that hyperscale data centers face escalating power, cooling, and land constraints as AI models expand. SpaceX’s proposed orbital AI data-center system, potentially utilizing up to one million satellites with near-continuous solar power, aims to circumvent ground-based limits while lowering energy intensity per unit of compute. The firm’s upside case assumes that capturing even a fraction of terminal AI compute demand with this architecture could significantly enhance revenue and margin profiles.

Commercial Traction and Key Deals

The thesis is supported by recent commercial agreements. Anthropic has secured a deal to use all compute capacity at SpaceX’s Colossus 1 data center, accessing roughly 300 megawatts of power and more than 220,000 Nvidia GPUs. Additionally, multi-billion-dollar AI compute arrangements with Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) reinforce SpaceX’s role as a wholesale supplier of high-end infrastructure. These contracts provide early proof of concept for the strategy to monetize unused capacity and anchor the argument to buy into the stock as the AI revenue stack scales.

Analyst Consensus and Ratings

SpaceX continues to garner bullish sentiment from Wall Street, with multiple firms maintaining positive ratings and high price targets.