Key Points
Space Exploration Technologies (NASDAQ: SPCX), known as SpaceX, has expanded its AI division, xAI, significantly increasing revenue. As of 2025, SpaceX generated $18.7 billion overall, but projections indicate that its AI compute contracts could annualize at $27.8 billion, effectively doubling its revenue.
Key contracts include a $1.25 billion monthly deal with Anthropic for over 300 MW of compute capacity and 220,000 Nvidia GPUs until May 2029, and a $920 million monthly agreement with Google starting October 2026. An additional contract with Reflection AI generates $150 per month at its Colossus 2 data center. Together, these deals target an impressive total of $2.32 billion monthly revenue.
SpaceX aims to secure further contracts, with potential clients including AI firms like OpenAI and hyperscalers like Microsoft. Despite this growth, the valuation remains high with projected revenue reaching $50 billion by 2026, equating to about 40 times sales based on current prices.
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