Elon Musk Claims The Majority of SpaceX Revenue Will Be From AI Next Month

Elon Musk Claims The Majority of SpaceX Revenue Will Be From AI Next Month Bram Berkowitz, The Motley Fool Fri, August 14, 2026 at 1:37 AM GMT+8 4 min read SPCX NVDA During a meeting with employees, Space Exploration Technologies Corp. (NASDAQ:SPCX) CEO Elon Musk said that the majority of the company's revenue will come from artificial intelligence by September. Furthermore, Musk said 99% of SpaceX's revenue will come from AI in the next four to five years. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue » That may surprise some, given that SpaceX is viewed as a pioneer of the space economy, but it comprises many businesses that are somewhat interwoven. There is the launch business, which many people over the years likely have come to know SpaceX best for. This business conceptualized reusable rockets to send astronauts into space at a lower cost and more quickly. Image source: White House. Then there is Starlink, SpaceX's low-Earth-orbit satellite internet service, which now has 12 million subscribers and can provide high-speed internet to people in areas with poor internet access. Finally, there is the AI division, which SpaceX acquired earlier this year through the acquisition of xAI, which Musk also founded. This division is multifaceted and includes the social platform X, Grok Intelligence, data centers, and a potential future terafab facility. AI is the driver of the valuation For those who follow the business, Musk's statement should come as no surprise. In its registration statement, SpaceX says the company has a total addressable market (TAM) of $28.5 trillion, $26.5 trillion of which is from the AI division. Furthermore, the company has inked highly lucrative AI compute deals that involve leasing its data center capacity to Anthropic and Alphabet, generating a combined $2.15 billion in monthly revenue. The Alphabet agreement is slated to begin in October, while the Anthropic deal is already underway. SpaceX generated $7.8 billion of revenue in the second quarter, with nearly $4.3 billion coming from Starlink and nearly $2.6 billion coming from AI, so you can see how these deals could soon make the AI division the top driver of revenue. On the earnings call, Musk also said he thinks the company will have 2 Gigawatts of compute capacity by the end of the year, and then closer to 10 GW online by the end of 2027. "The value per watt is probably going to be 30 to $50, which means if we bring 10 Gigawatts of AI online by the end of next year, it will be 300 to $500 billion a year in revenue," Musk told employees. "Big numbers." Story Continues AI is the driver, but SpaceX's valuation is still dependent on space Now, investors should keep in mind that data centers are extremely capital-intensive to build. For Musk to achieve what already looks like an incredibly lofty goal of bringing 10 GW online by the end of next year, some have estimated it could require hundreds of billions in capital expenditures. SpaceX's capex soared to over $18 billion at the end of the second quarter. Trading at a $1.85 trillion market cap, the company's valuation and future appreciation remain highly dependent on the realization of its space ambitions. While SpaceX operates three different businesses, all of them are or will be made possible by the company's launch business. The company's fully reusable rockets help launch Starlink's satellites into space, and SpaceX's super-heavy-lift rocket, Starship, which is still in testing, is critical to eventually deploying orbital data centers, which would enable SpaceX to quickly capture a significant share of total AI compute. Whether orbital data centers will come to fruition remains unclear, which is why SpaceX has become such a battleground stock. So, yes, AI will undoubtedly be the largest driver of revenue. However, it's the ability to leverage SpaceX's launch capabilities that would take it from a purely terrestrial data center play to an orbital one, which could send the stock soaring. Should you buy stock in Space Exploration Technologies right now? Before you buy stock in Space Exploration Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Space Exploration Technologies wasn't one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $400,209 !* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,375,393 !* That performance is why people listen. With a track record of beating the S&P 500 by 4x , Stock Advisor offers a distinct advantage. Don't miss the latest top 10 list, available with Stock Advisor , and join an investing community built for the long haul. See the 10 stocks » *Stock Advisor returns as of August 13, 2026. Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet. The Motley Fool has a disclosure policy . 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