Key facts
- SpaceX revenue target of $1 trillion by 2028 is 'no longer impossible,' Elon Musk said.
- Musk previously projected $1 trillion revenue for SpaceX by 2030.
- SpaceX's super-intelligence division revenue surged 830% in the last quarter.
- SpaceX reported nearly $15 billion in revenue last quarter, a 161% increase year-on-year.
- Tesla and SpaceX are exploring a potential merger.
Elon Musk, CEO of SpaceX and Tesla, stated on X that achieving $1 trillion in SpaceX revenue by 2028 is 'no longer impossible.' This statement follows his earlier projection in August that SpaceX could reach $1 trillion in revenue by 2030, with a non-zero chance of it happening in 2029. Musk made his latest pronouncement shortly after indicating on a third-quarter earnings webcast that annual recurring revenue could reach between $500 billion and $1 trillion by the end of 2027. JPMorgan, in a post-earnings note, forecast SpaceX would generate $254 billion of revenue in 2027. If SpaceX were to achieve $1 trillion in revenue in 2028, it would represent a 53-fold increase in three years from its 2025 earnings of just under $19 billion. The company, which shared historical financials prior to its summer IPO, posted close to $15 billion in revenue last quarter, a 161% increase from the same period in 2025. The primary driver of this growth was its super-intelligence division, where revenue surged 830% from around $800 million to $7.6 billion, attributed to new cloud services agreements, the recent Cursor acquisition, and increased Grok adoption by enterprises. Musk also revealed that Tesla and SpaceX have formed committees to explore a potential merger.