[Grok Gains Momentum, JPMorgan Expresses Optimism About SpaceX] BlockBeats News, August 25, JPMorgan reiterated its 'overweight' rating for SpaceX (SPCX.O) and set a target price of $240, citing growing confidence in Grok's artificial intelligence prospects. The firm highlighted SpaceX's acquisition of Cursor, reporting that Cursor's annual recurring revenue (ARR) is approximately $4 billion, with 75% coming from enterprise business. JPMorgan expects Cursor to enhance SpaceX's enterprise AI strategy, model training data, and Grok's performance. [Original Link]