Key Highlights
Space Exploration Technologies (SpaceX) generated $18.7 billion in revenue in 2022, with founder Elon Musk projecting revenue could reach $1 trillion by 2030. This ambitious target relies heavily on a rapid expansion of AI data centers, both on Earth and in orbit, requiring a compounded annual growth rate of over 100% for five consecutive years.
Currently, SpaceX’s capital expenditures on AI infrastructure stand at $15.8 billion for the last quarter, significantly outpacing its revenue. If the company’s build-out continues as planned, it anticipates achieving $100 billion in annual recurring revenue by the end of 2023.
SpaceX has existing contracts worth approximately $26 billion annually with AI firms like Alphabet and Anthropic. Despite its growth potential, Musk acknowledges hurdles ahead, including electric power and construction constraints. Notably, Amazon generated $775 billion in revenue over the last 12 months, potentially making it a contender to reach the $1 trillion mark before SpaceX.
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