SpaceX Has Three AI Customers Paying $27.8 Billion a Year. How Big Can This Revenue Stream Get?

Matt Frankel, CFP®, The Motley Fool

Mon, June 29, 2026 astatine 9:27 AM CDT 5 min read

Space Exploration Technologies (NASDAQ: SPCX), amended known arsenic SpaceX, has 3 chiseled parts of its concern -- rocket launches, outer internet, and the xAI artificial quality business. While the archetypal 2 are surely impressive, market-leading businesses, the AI part has produced the biggest headlines successful caller months.

In fact, though xAI was the biggest resistance connected SpaceX's bottommost enactment successful 2025, it's starting to look similar 2027 and beyond could beryllium a precise antithetic story. Here's however SpaceX's caller AI compute concern has already much than doubled its revenue, wherever it could spell from here, and wherefore investors should wage attention.

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Three AI compute deals -- truthful acold

Here's a speedy rundown of wherever SpaceX's AI compute concern stands today. And support successful caput that each of this is gross that didn't beryllium anterior to its IPO:

• First, Anthropic signed a woody to entree much than 300 MW of compute capableness and much than 220,000 Nvidia GPUs astatine SpaceX's Colossus 1 information center. This statement brings successful $1.25 cardinal per month for SpaceX done May 2029. That's $18 cardinal per twelvemonth from this woody alone.

• Next, Google signed a compute woody that begins successful October and runs done June 2029, giving the hyperscaler entree to astir 110,000 Nvidia GPUs and is expected to make $920 cardinal successful monthly revenue.

• Finally, the smallest of the 3 deals, but inactive a highly important development, is simply a woody from fast-growing start-up Reflection AI to entree Nvidia chips astatine SpaceX's Colossus 2 information halfway for $150 per month.

Combined, the 3 deals volition supply astir $2.32 cardinal successful monthly revenue, oregon $27.8 cardinal annualized. Keep successful caput that SpaceX's concern -- including Starlink, the rocket launches, and xAI -- combined for $18.7 cardinal successful gross successful 2025. Even though Starlink and the rocket concern proceed to standard rapidly successful 2026, this has much than doubled SpaceX's revenue.

Not lone has this generated revenue, but it's besides an illustration of a savvy mode to crook a occupation (xAI was utilizing lone astir 11% of its compute capableness for its ain purposes) into a win.

Who could beryllium next?

SpaceX intelligibly stated successful its S-1 that it "expects to participate into further akin services contracts for compute capableness with 3rd parties," and portion this connection was made earlier the astir caller deals, it indicates that this concern could beryllium a large portion of the company's AI future.