SpaceX’s growth has accelerated over the past five years thanks to the success of satellite internet service Starlink, which contributed to more than half of the group’s $18.7bn in revenue last year, and its rocket launch business. Musk has also juiced SpaceX’s headline valuation, which has surged from $400bn less than a year ago to $1.25tn today, via the series of deals with X and xAI. In recent weeks, he has also obtained the right to buy coding start-up Cursor for $60bn and struck a deal to lease surplus computing power to AI group Anthropic. That arrangement could boost revenues by around $5bn a year, according to one investor in the company. Musk is betting the next stage of the company’s growth on building data centres in space, which he claims could meet AI companies’ high demand for computing resources without having to contend with the barriers that stymie terrestrial development.
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