Musk: "I'll be surprised if SpaceX revenue doesn't surpass $1 trillion by 2031"

Businessman Elon Musk stated that SpaceX, the North American rocket and satellite company he leads, could exceed US$1 trillion in annual revenue by 2031.

"And I would be surprised if revenue isn't greater than US$1 trillion in 2031," Musk wrote this Sunday on X, amid skepticism from analysts and journalists about the company's ability to grow revenue at that speed.

SpaceX ended 2025 with revenue of US$18.7 billion and a net loss of US$4.9 billion.

The company raised US$85.7 billion in its initial public offering (IPO) in the United States after subscribers officially exercised the option for an additional allotment of shares, Elon Musk's company announced this Monday (15) in a statement.

This Monday (15), the company's shares were trading up more than 16%, at US$ 187.20 per share, around 4 pm Brasília time, after debuting with an increase of 19% on Friday (12) on the Nasdaq.

Musk's number is three times higher than a Morgan Stanley revenue forecast and would represent a 66-fold increase compared to 2025, giving an average annual growth rate well above 100%.

Key to increasing sales will be in-orbit AI data centers, which SpaceX plans to begin deploying in 2028. SpaceX's ground-based data centers, which were owned by xAI before it was merged into SpaceX in February, are leasing computing capacity to Anthropic and Google for billions of dollars a month.

Musk is helping, but so is the broader market, which rose after the US and Iran said they had agreed to an interim peace deal to end the war in the Middle East.

SpaceX is not yet a member of the S&P 500 because newly listed companies must wait at least 12 months before being considered for inclusion in S&P Dow Jones Indices.

It would have been the second-best performer in the S&P 500 for most of Monday's premarket, trailing only memory chip maker Micron Technology. Hard drive makers Seagate Technology and Western Digital also rose more than 5%.

*With information from Dow Jones Newswires

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Source: CNN