** Analysts launched coverage on SpaceX SPCX.O on Tuesday, following the end of the IPO quiet period, with many focusing on potential beyond launch services, pointing to AI infrastructure, orbital data centers and Starship-driven expansion into new markets

** SPCX to join Nasdaq-100, 15 days after debut

TRILLION-DOLLAR QUESTION

** Morgan Stanley ("overweight," PT: $300) says investors are underestimating its AI infrastructure business, which it said could be built at roughly half the industry's power cost and deployed significantly faster than peers

** Bernstein ("outperform," PT: $239) says "The case for a multi-trillion dollar valuation is about 'if' not 'when'"

** Adds that orbital data centers could generate hundreds of billions of dollars in profits if SpaceX delivers AI compute at lower costs than terrestrial alternatives

** RBC ("outperform," PT: $225) says SpaceX remains uniquely positioned at the intersection of two of the decade's biggest themes like space commercialization and artificial intelligence

** Wells Fargo ("overweight," PT: $230) says Starship is the "key enabler" of the company's long-term growth by expanding Starlink's addressable market and unlocking the development of orbital AI infrastructure