SpaceX CFO Gains Confidence in $100 Billion Revenue Goal
At a Goldman Sachs conference on September 18, SpaceX (SPCX) CFO Bret Johnsen expressed increased confidence that the company can achieve an annual revenue run rate of $100 billion. A new deal to supply AI computing power is expected to generate $13 billion annually starting in December and supports SpaceX's expansion into a third business segment alongside Starlink and rockets. On September 21, SpaceX’s weighting in the Nasdaq-100 index ($IUXX) will increase due to more than one billion shares becoming available after lock-up expiration. This is expected to trigger an estimated $15.5 billion of buying by index funds from J.P. Morgan, potentially providing a short-term boost for SPCX stock. Despite recent progress—$7.8 billion in Q2 revenue and over $2 billion monthly AI segment income—SpaceX still needs significant growth to reach its ambitious target.
Topics: AI computing deals Nasdaq-100 weighting change SpaceX