Morgan Stanley stated in a report that SpaceX's long-term growth potential is underestimated by the market, maintaining its "Overweight" rating and a price target of $300. Morgan Stanley believes the market undervalues SpaceX's growth potential in AI hashrate expansion and the rebuilding of U.S. manufacturing (the "Tera’Merica" concept). The report noted that SpaceX's aerospace, satellite communication, and AI infrastructure businesses intersect with the reshoring of advanced manufacturing in the U.S., and projects like Terafab will strengthen its presence in chip manufacturing and AI computing. The report estimates SpaceX's AI hashrate capacity to be 4.9 gigawatts by the end of fiscal year 2027, with a target approaching 10 gigawatts, indicating potential growth in the gap between these figures.