Elon Musk Projects SpaceX Revenue Could Hit $1 Trillion by 2028

Elon Musk announced Tuesday that Space Exploration Technologies Corp. could reach $1 trillion in annual revenue by 2028, accelerating his previous estimates of 2029 or 2030. During a third-quarter earnings webcast, Musk stated that annual recurring revenue could range between $500 billion and $1 trillion by the end of 2027.

SpaceX reported nearly $15 billion in revenue last quarter, representing a 161% increase from 2025. This growth was primarily driven by the company's super-intelligence division, which grew 830% to $7.6 billion. The surge is attributed to cloud services, the acquisition of Cursor, and enterprise adoption of the Grok AI chatbot.

Musk also revealed that Tesla and SpaceX have formed committees to explore a potential merger, though it remains unclear if Tesla's revenue is factored into the $1 trillion projection. These internal estimates contrast with external analysis from JPMorgan, which forecasts SpaceX revenue at $254 billion for 2027.