Musk: SpaceX's revenue in the fourth quarter is expected to increase by 70% quarter-on-quarter

Elon Musk stated at the Barron's Annual Investment Conference that SpaceX's revenue for the fourth quarter is expected to grow by about 70% compared to the third quarter, and reiterated that the company is on track to achieve an annualized revenue scale of $100 billion by December, aiming to exceed $500 billion by the end of 2027. On Friday, at the close of the U.S. stock market, SpaceX's stock price rose by 9.1%, closing at $134.91, marking the largest single-day increase since August 12; it has fallen a cumulative 28.13% over the past month.

Musk indicated that SpaceX's revenue from U.S. government agencies will drop to below 10% of total revenue this quarter, down from 16.6% in the previous quarter. According to Bloomberg, the AI company Anthropic is currently SpaceX's single largest customer, contributing over one-third of quarterly revenue; SpaceX also has computing power leasing contracts with tech companies such as Google, a subsidiary of Alphabet. Musk previously stated during the earnings call that its AI business achieved profitability for the first time this quarter.