BlockBeats News, August 14th, Morgan Stanley analyst Adam Jonas proposed a market-overlooked judgment in a recent research report: By 2040, the distributed computing power of a robot cluster may help SpaceX reach the 1 Terawatt power target faster than any data center. Morgan Stanley estimates that by 2040, the total number of robots in various forms will reach approximately 2.2 billion units. Calculated at 500 watts per unit, the total power will be around 1.1 Terawatts, theoretically all connectable through Starlink.

Prior to this, Musk revealed that the Tesla AI5 chip designed for Optimus has a power consumption of 250 watts, a number that Morgan Stanley believes will increase over time. This is what Morgan Stanley refers to as the "distributed inference cloud" — a network of fixed and mobile edge nodes connecting a large-scale data center cluster to form a hybrid computing power architecture. Morgan Stanley points out that Tesla investors are not unfamiliar with the "distributed inference cloud." Musk has discussed many times the use of idle vehicles and Megapods deployed at Supercharging stations to build a large-scale distributed computing network. With the deepening cooperation between SpaceX and Tesla, SpaceX investors also need to become familiar with this computing deployment logic.

In addition to the computing power narrative, Morgan Stanley also tracked SpaceX's progress in AI models. Grok 4.6 has reached a score of 61 on the Artificial Analysis Intelligence Index, close to the current highest score of 63 and cost comparable to Kimi K3. Musk stated that Grok 4.7 will be ready in 3 to 4 weeks, and Grok 5 is expected to be released by the end of the year. In terms of computing power pricing, it is predicted that the weighted average computing power price in the fourth quarter of 2026 will be around $31 per watt. However, stress tests show that if this price persists throughout 2027, it will bring about approximately $42 billion in incremental revenue, nearly tripling the revenue.

Morgan Stanley also emphasized that Starship's 14th flight is one of the most important stock price catalysts since SpaceX's IPO. If the spacecraft stack capture is successful for the first time, it will represent one of the most important milestones in the history of spaceflight and open up additional growth space for the space, connectivity, and AI business. Morgan Stanley's target price for SpaceX is $300, believing that SpaceX proving its ability to maintain the leading position of AI models and translate it into real usage will be key to a significant valuation reassessment.