SpaceX advances $1 trillion revenue target to 2030, Musk says

SpaceX now expects to reach $1 trillion in annual revenue by 2030, a year earlier than projected before its initial public offering (IPO), CEO Elon Musk said during the company’s second-quarter earnings call.

Speaking to investors, Musk said the company’s internal financial projections had shifted from reaching the milestone in 2031 to 2030, adding there was “a non-zero chance” it could happen as early as 2029.

“Prior to the IPO, the financial projections we had were reaching $1 trillion in revenue in 2031. We now expect that to be in 2030,” Musk said during SpaceX's first earnings call as public company.


The revised timeline comes as SpaceX expands beyond its launch business into satellite internet and artificial intelligence infrastructure, which executives identified as key growth drivers.

During the call, chief financial officer (CFO) Bret Johnsen said the company’s cloud services business continued to benefit from strong demand for AI compute infrastructure. He said SpaceX had signed an additional $6.7 billion in cloud services contracts in the first few weeks of the third quarter, with revenue expected to begin ramping up from October.

Johnsen said the company expects to reach an annualised revenue run rate (ARR) of more than $100 billion by December 2026, including contributions from Cursor, citing continued demand for compute services and improving economics across customer agreements.

Musk said the $100 billion ARR target represented a baseline rather than an upper limit.

“That’s what we would achieve if we basically did nothing...I think it may be higher than that,” he said.

SpaceX said cloud services remain one of its fastest-growing businesses as demand for AI infrastructure continues to increase. The company has been leasing computing capacity to third parties while simultaneously expanding its own AI capabilities.

The earnings call marked the first time SpaceX provided public investors with updated long-term financial projections following its stock market debut.

The company reported in the earnings call that it continues to see demand across its three core businesses: launch services, Starlink satellite internet and cloud services, with executives painting AI infrastructure as a growing contributor to future growth.