SpaceX Shares Jump as Musk Targets $500B AI Revenue

SpaceX shares rose after CEO Elon Musk said he will significantly expand the company’s AI business and projected up to $500 billion in AI revenue. Musk outlined those ambitions in an all-hands meeting where he tied SpaceX’s AI push to the company’s broader operations, including Starlink. In the meeting Musk said Starlink already has about 22 million mobile subscribers and suggested Starlink could one day carry 90 percent of global internet traffic. The announcement followed a fresh Starlink satellite launch after which SpaceX stock climbed back above its IPO price. xAI developments also featured in the discussion; Musk and company materials referenced the new xAI Grok 4.6 model while analysts including Siebert Financial CIO Mark Malek weighed in on SpaceX’s AI competitiveness on the program Mornings with Maria. Investors reacted positively to the revenue projection and roadmap, lifting shares as Wall Street reassessed SpaceX’s growth potential tied to AI and Starlink expansion.