Highlights SpaceX stock price soared by over 5% amid reports that the company is planning a $24 billion data center project in Texas. The proposed project faces regulatory uncertainty as the Democratic Party win threatens new data center constructions. SPCX shares could soar towards $150 if the ongoing tech and AI sector rebound continues.
SpaceX (NASDAQ: SPCX) stock price jumped by 5.8% on November 9 to close trading $142. These gains occurred amid reports that the company is planning to set up a $24 billion super-compute facility in Starbase, Texas.
The planned launch comes even as uncertainty grows over what the Democratic Party win in Texas could mean for SpaceX stock considering the Governor-elect, Gino Hinojosa had pledged a moratorium on new data centers.
SpaceX Eyes $24B Data Center Facility in Texas
According to Bloomberg, SpaceX has applied for a property tax abatement for the $24 billion data center project in Texas. The quoted $24 billion is the estimated capital investment for the initial stages of the project.
Per the report, the project will be created in multiple phases and once it is completed, it will become one of the biggest private investments in the region.
The facility will impact SpaceX’s AI business, which posted a 161% increase in revenue in Q3 2026, as earlier reported by CoinGape. However, regulatory risks towards the facility are emerging as opposition towards data centers grows and weighs on Space stock price.
As CoinGape also reported, Goldman Sachs has warned that the Democratic Party win threatens data center expansion plans in the US.
It was because of these concerns that the Nasdaq 100 index shed $2.5 trillion in value on November 5, marking one of its worst days in history. At the time, SpaceX stock price crashed to $120.
SpaceX Stock Price Prediction as Texas Data Center Plans Fuel 5% Rally
SpaceX stock price surged by 5.81% on November 9, but the gains were not solely linked to the $24 billion data center project plan.
The uptrend mirrored a recovery across the US stock market, with the Nasdaq 100 index surging by 3.4% to 27,907 points. The S&P 500 index also jumped by 2.35% to 7,549 points. The gains occurred because of a tech sector rebound and falling oil prices.
Because of these gains, SpaceX stock price closed at its highest price since October 29. Bulls are now targeting the psychological resistance at $150. Closing above this resistance could mark the beginning of another strong uptrend.
However, there is a wall between $152 and $156. SpaceX stock needs to close above this sell wall before confirming a bullish reversal.
Technical indicators, on the other hand, show that while bears remain in control, they might be losing their grip. The Chaikin Money Flow (CMF) line is making higher lows, suggesting that the selling pressure is easing.
The RSI line has also crossed above the signal line, and also making higher lows, as the bearish momentum weakens.
Still, concerns around the AI and tech sectors remain amid growing speculation whether the CEO of Nvidia, Jensen Juang, will resign following the recent “Chinese spy” scandal. If the concerns grow, it could cause a selloff in SpaceX and other AI stocks, pushing the price towards $135.
Stifel Maintains $190 Target for SPCX Shares
Stifel has maintained a buy rating for SpaceX stock price. The firm also assigned a $190 target for the shares basing its bullish outlook on the data center operations and satellite-based computing.
The $190 target represents a 35% upside from the current price of $141. Per analyst Jonathan Siegmann, any stalled data center buildouts could end up being bullish for SpaceX because the company could become a buyer of last resort for the centers that are already operational.
Stifel also mentions SpaceX’s investment grade balance sheet and $40 billion worth of committed GPU financing as among the reasons why the stock could reach $190.
