Canto Fitzgerald: Computing power profits are expected to significantly alleviate the pressure on SpaceX's stock price.

Cantor Fitzgerald pointed out in a report to clients last week that SpaceX signed an agreement with Google a few days before its IPO, providing AI computing power to each other for a monthly income of $920 million. Previously, Anthropic had announced it would utilize the full capacity of SpaceX's Colossus 1 data center located in Memphis, Tennessee. The company also has a separate computing power agreement with Reflection AI. Cantor believes that as the company proves the profitability of its hosted computing power, clarifies its capital funding sources, and absorbs the pressure from the initial lock-up period, its performance is expected to significantly alleviate current pressures. "We believe SPCX is approaching the bottom before its earnings report." Based on this, they set a target price of $246 for SpaceX in their report.