The author says SpaceX (SPCX) stock is becoming more attractive, as the company has evolved into an AI business after acquiring xAI months before its IPO. Its super intelligence (SI) segment delivered 830% revenue growth to $7.56 billion in Q3, larger than the space and connectivity units combined. Musk has predicted annual recurring revenue could reach $500 billion to $1 trillion by the end of next year, which the author considers a huge stretch. The author argues that this growth may be enough to justify the stock's price, and that SpaceX is better viewed through the lens of an AI investment than a space one.
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