SpaceX (NASDAQ: SPCX) rose about 2% Tuesday after JPMorgan retained an Overweight rating and $240 price target—implying roughly 75% upside from levels near $138 versus Monday’s $135 close—while earlier session readings showed gains of 1.6% to $137.10 and 2.70% to $138.65. Analyst Doug Anmuth said the bank is increasingly positive on Grok after the Aug. 14 close of SpaceX’s $60 billion stock-based purchase of Cursor developer Anysphere, which entitled Cursor investors to about 389.3 million SpaceX Class A shares; he cited tangible Grok training improvements from Cursor data, Grok 4.6’s enterprise positioning and below-rival pricing, Cursor’s more than 50,000 business customers and nearly two-thirds Fortune 500 reach, and roughly $4 billion Cursor annualized revenue. BoxGroup was among Cursor’s earliest backers, with founder David Tisch’s firm writing an initial $750,000 check to CEO Michael Truell in June 2022 plus two follow-ons that a source familiar with the matter told Fortune should return around $1 billion—potentially more than all limited-partner capital BoxGroup has raised—after then-principal Claire Smilow sourced the people-first bet despite Truell’s original AI-for-CAD concept. The $240 objective still rests on projected 2028 EPS of $7.02 at a multiple near 34 times, against a wide peer range that includes Argus’s $160 Buy, Oppenheimer’s $190, Bernstein’s $248, Morgan Stanley’s $300 target and $600 bull case, and Morningstar’s $63 fair-value estimate. A parallel catalyst remains Elon Musk’s accelerated Starmind plan with Nvidia for space-optimized Vera Rubin NVL72 systems from Q4 2027 and larger 2028 scale under an FCC filing for up to one million compute satellites, with JPMorgan seeing orbital compute pursued toward about 75 GW by end-2031. Near-term watch items include an estimated 370 million-share unlock on Sept. 9-10 that could lift the public float by about 20%, Starship test-flight risk, and Starlink’s Gen 2 application in India.