SpaceX builds and launches reusable rockets and spacecraft for NASA, the military, and companies, and it runs Starlink, a satellite internet service for homes and businesses. In 2020, its Dragon capsule became the first privately built spacecraft to carry astronauts to the International Space Station. Its Falcon 9 rocket lands its first stage so the booster can fly again, which cuts launch costs, while Starlink beams internet from low-orbit satellites to small dishes for a monthly fee. SpaceX also owns xAI, maker of the Grok chatbot and owner of the social network X, and is building Starship, a fully reusable rocket meant to carry people to the Moon and Mars. Elon Musk founded SpaceX in 2002, and it is based in Starbase, Texas.
Company Size
10,001+
Company Stage
IPO
Headquarters
Starbase, Texas
Founded
2002
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SpaceX (NASDAQ:SPCX) shares fell 2% to $153.5 on Wednesday morning, raising questions about whether its fast-growing businesses can support the company's valuation. Starlink, its satellite-broadband service, is the only profitable division. The AI business built around Grok grew 213% in the second quarter but remains unprofitable. Analysts expect 2027 revenue to reach $115 billion, up 155%. At the current share price, that values SpaceX at roughly 18 times projected sales, a multiple comparable to Nvidia's. The bigger uncertainty is whether SpaceX can turn its orbital data centre plans into a viable business before AI rivals gain ground or Starlink's customer growth cools.
SpaceX has capped its military-grade Starlink service in Ukraine, cutting the link on any terminal moving faster than 100 miles an hour (160 km/h), presidential adviser Serhiy Beskrestnov said on Wednesday, October 14. He said the limit arrived overnight with no warning and disrupted several combat missions. SpaceX hasn't commented. The cap covers StarShield, the encrypted, government-grade version of Starlink, which the Pentagon pays for. Bloomberg reported in December 2024 that two US contracts covered 3,000 terminals in Ukraine. The money at stake is small. An earlier 500-terminal deal was worth about $40 million, against $12.98 billion in third-quarter revenue that Wall Street expects. The bigger risk is trust: the move could signal to governments that SpaceX can change terms mid-war.
Billionaire investor Ron Baron says SpaceX could be worth as much as $50 trillion within a decade, a nearly 25-fold jump in valuation. He said chief executive officer Elon Musk told him the forecast may still be too low. Baron expects Starlink alone to be worth $14 trillion to $15 trillion in 10 years. He sees orbital data centres as a bigger prize that could eventually be worth several times more than Starlink, as they avoid limits on electricity, water, and permitting on Earth. His firm has invested about $2.5 billion in SpaceX since 2017 and owns 1.25% of the company. He said the stake was worth about $25 billion as of June. SPCX stock fell more than 4% on Tuesday, its worst session in over two months.
SpaceX has agreed to testify before the New York City Council's tech committee on Friday at 10:00 ET, as part of an investigation into AI safety risks. The council subpoenaed Elon Musk and SpaceX's AI unit on September 28. SpaceX skipped an October 5 hearing, where Anthropic, OpenAI, Google, and Meta all appeared. Council Speaker Julie Menin called the absence "unacceptable," and the council had planned to ask a judge to enforce the subpoena. The council wants to know whether AI risks to public safety, cybersecurity, privacy, and consumers need new laws. SpaceX also faces lawsuits over Grok's image generator, which they claim was used to make deepfake porn. Musk folded xAI into SpaceX in February. SpaceX, valued at over $2 trillion, reported second-quarter revenue of $7.8 billion, up 92%.
SpaceX Super Intelligence (SpaceXSI) is bundling X Premium, Grok, and Cursor into a single plan called "The X Subscription." The company hopes the combined offer will draw more subscribers in a crowded paid AI market, where it competes with OpenAI and Anthropic. The bundle gives users Grok for AI chat, with voice, images, video, and API support, plus Grok's agentic AI bot and Cursor for AI coding. It also includes X Premium perks such as the blue checkmark, creator tools, and fewer ads. There are five plans: free, Plus ($8 a month), Premium ($30), Super ($100), and Ultra ($200). AI usage caps rise with each tier, and the latest Grok models require Premium or higher. Existing X Premium+ subscribers can get a comparable plan at the same price or less. The upgrade option is rolling out gradually through billing settings on X.