TLDR
- Elon Musk posted on X that SpaceX will be “worth more than the rest of Earth” if it achieves its goals
- SpaceX IPO’d on June 12 at $135, raising $86 billion — the largest IPO in history — hitting an all-time high of $225.64
- Stock pulled back 26% from its high before recovering to around $152; SPCX was down 1.5% in premarket Friday at $149.96
- Analyst price targets range widely from $75 (bear case) to $900 (Citi bull case), with an average around $240
- Wall Street projects SpaceX will need ~$150 billion in extra financing between 2026 and 2031 to build its orbital AI business
SpaceX CEO Elon Musk made his boldest valuation claim yet on Thursday, posting on X that SpaceX will be “worth more than the rest of Earth” if the company accomplishes its goals.
You don’t seem to understand that SpaceX will be worth more than the rest of Earth if we accomplish our goals
— Elon Musk (@elonmusk) July 9, 2026
The comment came in response to criticism of a reported deal between Anthropic, xAI, and SpaceX tied to AI compute access. One X user argued the arrangement could become “the biggest unforced error of the AI era” for Anthropic. Musk’s reply shifted the conversation toward SpaceX’s long-term ambitions.
SpaceX stock (SPCX) was trading at $149.96 in premarket Friday, down 1.5%. The S&P 500 and Dow futures were flat and up 0.2%, respectively.
Space Exploration Technologies Corp., SPCX
It’s not the first time Musk has made sky-high projections. In 2022, he said Tesla could be worth more than Apple and Saudi Aramco combined — a pair worth roughly $4.4 trillion at the time. Tesla sits at around $1.8 trillion today.
Musk has often referenced the Kardashev Scale, a framework for measuring civilizations by energy use. His stated ambition is for humanity to harness the power of the sun — far beyond anything Earth-bound companies can claim.
SpaceX went public on June 12 at $135 per share, raising $86 billion in the largest IPO in history. The stock debuted at $150 and surged 50% to an all-time high of $225.64 on June 16, briefly pushing the company’s valuation near $3 trillion.
The rally didn’t last. Concerns over a bond offering, heavy Terafab data center spending, and upcoming insider lockup expirations hit the stock hard. SPCX fell 26% from its peak, touching $145.20, before stabilizing around $152.
On July 7, SpaceX entered the Nasdaq-100, triggering roughly $4.3 billion in passive inflows as index funds picked up the stock.
What Wall Street Thinks
More than a dozen analysts issued initial research following the IPO. The range of targets tells the story. Raymond James has the highest target at $800. Citi’s bull case reaches $900, implying a valuation of roughly $12 trillion. Morgan Stanley sits at $300, with a bull case of $600 and a bear case of $75 — which assumes Starship isn’t operational until 2029.
The average analyst price target is around $240, per FactSet.
Wall Street projects SpaceX revenues of more than $630 billion by 2031, up from roughly $39 billion expected in 2026. Operating income is seen topping $340 billion by 2031, from about $1 billion this year.
The Capital Requirement
That growth won’t come cheap. Analysts estimate SpaceX will need approximately $150 billion in additional financing between 2026 and 2031 to fund its orbital AI buildout.
On the revenue side, Anthropic is currently paying SpaceX $1.25 billion per month for access to the Colossus 1 AI supercluster — more than 220,000 NVIDIA GPUs and 300 MW of power — in a deal that could total $30 to $40 billion.
SpaceX also completed its 80th Falcon 9 mission of the year this week, continuing its satellite deployment cadence.
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