SpaceX recently went public with a closing market capitalization of $2.1 trillion, propelled by investor interest in its plans for AI. Elon Musk, holding a 40% stake, achieved trillionaire status. The company's IPO registration statement outlines a total addressable market of $28.5 trillion, with $26.5 trillion attributed to the data centers Musk intends to launch into space, alongside $370 billion for rocket launches and $1.6 trillion for satellite-related revenue. This IPO represents one of the largest in history.
SpaceX's strategy heavily relies on establishing orbital data centers for AI workloads, aiming to launch one million satellites into orbit as early as 2028. These satellites, reportedly named AI1 and featuring 230-foot solar panels, are designed to address the significant energy demands of AI. This ambition is supported by deals like Anthropic renting compute capacity at Colossus 1 for $1.2 billion per month and Alphabet paying $920 million per month for similar services, signaling the potential for substantial revenue from AI infrastructure.
While SpaceX's AI division generated $3.2 billion in revenue in 2025, Goldman Sachs forecasts an astronomical increase to $322 billion by 2030, with total revenue reaching $474 billion. However, this growth comes with considerable risk; the company reported net losses of $4.6 billion in 2023 and $4.9 billion in 2025, with AI spending reaching $12.7 billion in 2025, significantly outpacing its space and connectivity divisions. The economic viability of these orbital data centers hinges on Starship achieving a target launch cost of $100 per kilogram, a cost point not yet realized, as current industry estimates place operational Starship costs at $900-$1,000 per kilogram.
