Space Exploration Technologies Corp. (SPCX) Chief Financial Officer Bret Johnsen announced a new compute agreement during the Goldman Sachs Group Inc. (GS) Communacopia and Technology Conference on Thursday. The agreement is expected to generate approximately $1.11 billion in monthly revenue starting December 1, 2026.
Johnsen stated that the new hosting deal adds over $13 billion in annual recurring revenue (ARR) to the company. He emphasized that this development reinforces the company's confidence in achieving a $100 billion ARR target by the end of the year.
Johnsen did not disclose the specific partner for this new agreement. However, the article notes that SpaceX already has compute agreements in place with Alphabet Inc. (GOOGL and GOOG) and Anthropic.
In addition to the financial update, SpaceX unveiled its fourth-generation Starlink router. The new device features faster peak speeds, improved connectivity in congested areas, water resistance, and Wi-Fi 7 technology. The company also announced that it will provide Starlink connectivity to residents around its upcoming Starbase Louisiana at half price.
Regarding valuation, Peter Diamandis of the X Prize Foundation suggested that SpaceX could reach a $10 trillion valuation, citing Elon Musk’s efforts to build "civilizational" infrastructure. Elon Musk previously stated that the company has a non-zero chance of reaching $1 trillion in revenue by 2030.
On the day of the announcement, SPCX shares were up 0.70% to $149.22 during overnight trading.
