TD Cowen

Investment bank TD Cowen has publicly stated that Bitcoin is more than just an asset, in a note reported by Bitcoin Magazine. The comment suggests the firm sees Bitcoin as having a broader role beyond investment, with the view gaining attention among crypto watchers and market commentators.

Shares of SpaceX traded higher after TD Cowen initiated coverage of the company with a Buy rating. The analyst argued that AI compute will drive the majority of SpaceX's future revenue, signaling a shift in how investors value the rocket maker beyond launch services. The rating adds to growing Wall Street interest in SpaceX as a player in the artificial intelligence infrastructure boom.

SpaceX shares are trading higher after TD Cowen initiated coverage of the company with a Buy rating. The endorsement from the investment firm is being cited as the driver behind the share price move, with investors responding to the positive analyst view on the space company's prospects. Further details about TD Cowen's valuation targets or reasoning were not immediately available.

Analysts at TD Cowen say SpaceX is poised for a strong rebound after a stretch of recent setbacks. The investment firm's assessment has drawn attention to the company's recovery prospects, with markets and space-industry watchers weighing whether SpaceX can return to form following its recent struggles.

Investment firm TD Cowen said SpaceX is facing "an unprecedented set of AI and space" opportunities, framing Elon Musk's rocket company as well positioned at the intersection of the space and artificial intelligence sectors. The bullish assessment points to SpaceX's launch dominance, Starlink expansion and growing overlap between satellite networks and AI-driven demand for connectivity and computing.