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SpaceX AI Revenue Set to Eclipse Rocket Sales
4 Oct
Summary
- AI revenue likely to surpass all other SpaceX revenue by October 2026.
- SpaceX's Q2 revenue reached $7.81 billion, with AI contributing $2.56 billion.
- Musk projects 10 gigawatts of AI capacity by end of 2027, valued $300B-$500B annually.
Elon Musk has projected a pivotal moment for SpaceX, announcing in an August 11, 2026, all-hands video that the company's AI revenue is expected to definitively exceed all other revenue streams by October 2026. This prediction, delivered with initial confidence but subsequent hedging on the exact timing, invites investors to compare forecasts with reported financials.
In the second quarter of 2026, SpaceX reported a total revenue of $7.81 billion, marking a 92% increase. Within this, AI contributed $2.56 billion, while Connectivity and Space operations generated $5.25 billion combined. To meet Musk's projection, AI revenue would need to more than double, assuming no growth in other sectors. However, SpaceX's Connectivity revenue also grew significantly, reaching $4.291 billion, with Starlink's enterprise and government sectors seeing a 108% rise.
Further bolstering SpaceX's AI ambitions, Musk set a target of 10 gigawatts of AI computing capacity by the end of 2027. He estimated this capacity could be valued at $30 to $50 per watt, projecting an annual AI revenue between $300 billion and $500 billion by 2028. Musk himself described this per-watt figure as a 'guess' during an earnings call.
