SpaceX is spending huge amounts of money-and Wall Street loves it.

Tuesday, SpaceX announced plans for a new Starbase in Louisiana. SpaceX launches rockets from government-owned locations in California and Florida. It also operates at its Starbase in Boca Chica, Texas.

The new facility is designed to boost launch capacity for SpaceX's huge, fully reusable Starship rocket, which is in testing now. Starship is key for SpaceX, dramatically lowering costs to reach space, which will enable applications such as orbital AI data centers.

Building artificial-intelligence data centers can be expensive. Wall Street sees SpaceX spending $1.4 trillion on new plants and equipment through 2031, according to FactSet. Analysts expect the company to raise at least another $200 billion in the coming few years to fund the growth plans.

Starbase, Louisiana will cost another $100 billion over time. That's a lot of money, but a drop in the bucket compared to $1.4 trillion.

Wall Street isn't worried about the spending. Morgan Stanley analyst Adam Jonas says the base signals a "more aggressive" launch cadence. Eventually, SpaceX wants to be launching thousands of Starship missions annually. Those missions carry equipment that generates SpaceX revenue. The Louisiana facility isn't in Jonas' model that has SpaceX generating $3.5 trillion in 2040 revenue. Faster launches mean SpaceX could hit that level sooner.

Wolfe Research analyst Myles Walton said Starbase, Louisiana, and a recent White House executive order on launch regulatory relief are "bullish indicators" for SpaceX's ambitions. The reasons are similar to Jonas': More launches equal more revenue potential for Elon Musk's rocket and AI company.

Both Jonas and Walton rate SpaceX shares Buy. Walton's target price is $175. Jonas' is $300. Overall, 75% of analysts covering SpaceX stock rate shares Buy, according to FactSet. The average Buy-rating ratio for S&P 500 stocks typically ranges from 55% to 60%. The average analyst price target for SpaceX stock is about $226.

SpaceX stock was down 0.5% in premarket trading at $137.29, while S&P 500 futures were down 0.1%.

SpaceX stock gained 2.2% on Tuesday, with the new Starbase being one factor that impacted trading.