SpaceX reported third-quarter revenue of $14. 6 billion, a 161% increase from a year earlier, as its artificial-intelligence business and Starlink connectivity service expanded sharply.
Elon Musk said SpaceX could reach annual recurring revenue of between $500 billion and $1 trillion by the end of 2027. The projection depends mainly on a rapid buildout of computing infrastructure and a much higher Starship launch cadence. SpaceX ended the quarter with 1. 7 gigawatts of nameplate computing capacity and expects to have between 2. 5 and 3 gigawatts online by the end of 2026.
Starlink had 13. 6 million consumer subscribers at quarter-end after adding 1. 6 million during the quarter.
SpaceX’s results also showed how much of the forecast rests on infrastructure that is still being built. Management said new computing deployments currently have payback periods of less than one year at prevailing prices, but the revenue projection assumes continued demand and pricing while SpaceX rapidly increases supply.
Starship is central to that expansion. The company completed Flight 14, its first orbital Starship mission, and delivered 26 Starlink V3 satellites. Musk said SpaceX expects weekly Starship flights in the first half of 2027 and potentially twice-weekly flights later in the year, contingent on recovering, refurbishing and reusing the vehicle. The next test is expected to attempt the first recovery of both the booster and upper stage, but Musk acknowledged that success is not assured. The company’s quarterly performance is therefore established, while the $500 billion-to-$1 trillion target remains conditional on execution across computing, Starlink and reusable launch operations.