Elon Musk Forecasts Up to $1 Trillion SpaceX ARR Run Rate by Late 2027

SpaceX CEO Elon Musk projected that the company could reach between $500 billion and $1 trillion in annual recurring revenue run rate by the end of 2027, and called $1 trillion in 2028 revenue no longer impossible. However, official guidance from CFO Bret Johnsen projects Q1 2027 revenue between $33 billion and $37 billion, implying an annualized run rate of $132 billion to $148 billion. SpaceX reported Q3 revenue of $14.6 billion, up 161% year-over-year, driven by $7.6 billion from its super-intelligence segment. Capital expenditures reached $19.6 billion in Q3 and are projected to reach $35 billion to $40 billion in Q4.