Musk Says SpaceX ARR to Hit at Least $100B by Year's End
Dow Jones
Aug 05
1839 ET - SpaceX CEO Elon Musk offers ambitious revenue targets for the newly public company, telling investors on a Tuesday call that he expects an annualized revenue run rate of at least $100 billion by year's end. "That's what we would achieve if we basically did nothing," Musk says. "It probably will be higher than that." Musk also pulls forward SpaceX's $1 trillion revenue target to 2030 from 2031, and says it isn't unthinkable that the target could be hit in 2029. The company is planning for dramatic revenue increases from next-generation Starlink satellites, as well as strong growth in both the space and artificial-intelligence businesses. Shares of SpaceX fall 6.8% after-hours.
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