Uploaded September 2026 | Updated September 2026, 2 hours ago
SpaceX could generate $19 billion in November and December 2026 alone — more than the $18.5 billion it generated during all of 2025. December’s total revenue run rate about $120 billion annualized, including AI, Starlink and the rest of the business. That would fundamentally change the valuation math for anyone still judging SpaceX by last year’s revenue.
AI compute leasing, Grok, Cursor, Starlink and Starship are combining into a much larger business — and why SpaceX could win across more scenarios than companies dependent on having the leading AI model.
Why looking backward at 2025 revenue can miss the scale of SpaceX’s AI transformation
The September AI deal snapshot: $41 billion in annualized compute agreements at their stated rates, plus approximately $5 billion in Cursor revenue run rate discussed in the video
The November–December forecast: $19 billion in two months versus $18.5 billion for all of 2025
Why Grok 4.7, 4.8 and 4.9 could compete for paying customers without needing to win every benchmark
Their compute advantage is more capacity for training, reinforcement learning, inference and customer workloads
Why $35–50 billion of annual revenue per gigawatt could support a powerful business even without peak AI pricing
How Starship and V3 satellites could accelerate Starlink capacity — and eventually carry AI compute into orbit
Why satellite capacity must translate into paying customers, terminals and enterprise contracts
The 2027 valuation scenarios: expanding revenue, improving margins and the milestones that could trigger a repricing
Revenue projections are Brian’s estimates. Annualized run rates are not full-year revenue, and the deal snapshot includes future ramps. July business is additive only if it does not overlap existing agreements; standalone Grok revenue is not quantified in the graphic.
00:00 – Highlights: SpaceX’s AI revenue and the two-month forecast
00:46 – Brian Wang and Randy Kirk: the SpaceX discussion
01:44 – Why people are thinking about SpaceX’s AI business wrong
02:13 – 2026 revenue forecast and the $120B December run-rate scenario
02:55 – Two months of revenue versus all of 2025
03:23 – The 2027 gigawatt expansion and valuation implications
04:39 – Grok 4.7, 4.8 and 4.9 versus competing AI models
05:53 – Compute for training, reinforcement learning and inference
07:12 – Quarterly revenue forecasts and the AI growth path
09:22 – Compute leasing, Cursor and the revenue comparison
10:20 – Why SpaceX could win at $35–50B per gigawatt-year
11:20 – Starship Flight 14 and the V3 satellite opportunity
13:06 – AI satellites and the economics of orbital compute
14:00 – Turning satellite capacity into paying customers
15:23 – Direct-to-cell, enterprise customers and Starshield
17:10 – New products and software upgrades across the network
18:57 – Competing across energy, compute, models and applications
20:18 – Starship payload and launch-cadence scenarios
23:06 – Revenue milestones that could change the valuation
24:10 – Index reweighting and potential buying flows
25:56 – Grokbot, Cursor and upcoming model releases
26:54 – Data-center construction and launch infrastructure
27:40 – Discussing a potential Tesla–SpaceX merger
28:12 – Tesla robotaxi, FSD and vehicle-demand catalysts
29:50 – Closing discussion: economic indicators
Substack: AI datacenter + Tesla/SpaceX buildout — physical stack → dollars.
nextbigfuture.substack.com
Follow Brian Wang on NextBigFuture:
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Follow Brian Wang on X:
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#SpaceX #Starship #Grok
SpaceX could generate $19 billion in November and December 2026 alone — more than the $18.5 billion it generated during all of 2025. December’s total revenue run rate about $120 billion annualized, including AI, Starlink and the rest of the business. That would fundamentally change the valuation math for anyone still judging SpaceX by last year’s revenue.
AI compute leasing, Grok, Cursor, Starlink and Starship are combining into a much larger business — and why SpaceX could win across more scenarios than companies dependent on having the leading AI model.
Why looking backward at 2025 revenue can miss the scale of SpaceX’s AI transformation
The September AI deal snapshot: $41 billion in annualized compute agreements at their stated rates, plus approximately $5 billion in Cursor revenue run rate discussed in the video
The November–December forecast: $19 billion in two months versus $18.5 billion for all of 2025
Why Grok 4.7, 4.8 and 4.9 could compete for paying customers without needing to win every benchmark
Their compute advantage is more capacity for training, reinforcement learning, inference and customer workloads
Why $35–50 billion of annual revenue per gigawatt could support a powerful business even without peak AI pricing
How Starship and V3 satellites could accelerate Starlink capacity — and eventually carry AI compute into orbit
Why satellite capacity must translate into paying customers, terminals and enterprise contracts
The 2027 valuation scenarios: expanding revenue, improving margins and the milestones that could trigger a repricing
Revenue projections are Brian’s estimates. Annualized run rates are not full-year revenue, and the deal snapshot includes future ramps. July business is additive only if it does not overlap existing agreements; standalone Grok revenue is not quantified in the graphic.
00:00 – Highlights: SpaceX’s AI revenue and the two-month forecast
00:46 – Brian Wang and Randy Kirk: the SpaceX discussion
01:44 – Why people are thinking about SpaceX’s AI business wrong
02:13 – 2026 revenue forecast and the $120B December run-rate scenario
02:55 – Two months of revenue versus all of 2025
03:23 – The 2027 gigawatt expansion and valuation implications
04:39 – Grok 4.7, 4.8 and 4.9 versus competing AI models
05:53 – Compute for training, reinforcement learning and inference
07:12 – Quarterly revenue forecasts and the AI growth path
09:22 – Compute leasing, Cursor and the revenue comparison
10:20 – Why SpaceX could win at $35–50B per gigawatt-year
11:20 – Starship Flight 14 and the V3 satellite opportunity
13:06 – AI satellites and the economics of orbital compute
14:00 – Turning satellite capacity into paying customers
15:23 – Direct-to-cell, enterprise customers and Starshield
17:10 – New products and software upgrades across the network
18:57 – Competing across energy, compute, models and applications
20:18 – Starship payload and launch-cadence scenarios
23:06 – Revenue milestones that could change the valuation
24:10 – Index reweighting and potential buying flows
25:56 – Grokbot, Cursor and upcoming model releases
26:54 – Data-center construction and launch infrastructure
27:40 – Discussing a potential Tesla–SpaceX merger
28:12 – Tesla robotaxi, FSD and vehicle-demand catalysts
29:50 – Closing discussion: economic indicators
Substack: AI datacenter + Tesla/SpaceX buildout — physical stack → dollars.
nextbigfuture.substack.com
Follow Brian Wang on NextBigFuture:
nextbigfuture.com
Follow Brian Wang on X:
https://x.com/NextBigFuture
Patreon – Next Big Future
Subscribe for the most important science and technology breakthroughs, with analysis connecting engineering, deployment and business results.
#SpaceX #Starship #Grok
