SpaceX has pushed forward one of its most ambitious financial targets, with Chief Executive Elon Musk saying the company now expects to hit $1 trillion in annual revenue by 2030, a full year earlier than previously projected. This is after demand for artificial intelligence infrastructure and Starlink services gathered pace through the first half of 2026.
Speaking during the company's second-quarter earnings call, Musk said the revised timeline reflects stronger-than-expected momentum across SpaceX's three core businesses, that is, Starlink, AI infrastructure and launch services.
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The upbeat change came as the company also projected an annualised revenue run rate (ARR) exceeding $100 billion by the end of 2026. Chief Financial Officer Bret Johnsen said fresh cloud-services contracts signed in the opening weeks of the third quarter added another $6.7 billion in revenue scheduled to begin ramping up from October.
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Sky-High Ambitions
Musk attributed the faster revenue trajectory largely to the upcoming rollout of Starlink Version 3 satellites, which he said are "more than 10 times" as capable as the current generation, alongside rapid expansion of the company's AI business.
SpaceX plans to end 2026 with more than two gigawatts of AI compute capacity and push that figure several times higher by the end of next year. Musk said the company has decided to build its AI systems exclusively on Nvidia's Vera Rubin platform, calling it "the best AI computer."
He also pointed to the gap between demand for AI computing and the pace at which chipmakers can add supply. Memory production continues to grow, he said, though it still trails demand by a wide margin. "If you've got demand increasing much faster than supply, then Economics 101 would suggest that the price increases," he said.
SpaceX posted second-quarter revenue of $7.8 billion, up 92% from a year earlier, while adjusted EBITDA climbed to $3.5 billion.
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