Beyond Rockets: SpaceX's Real Growth Story Is Its AI Infrastructure Business

SpaceX's primary growth opportunity lies in AI infrastructure rather than rockets, with a $26.5 trillion addressable market in AI. The company has secured major compute capacity rental deals with Anthropic ($1.2B/month), Alphabet ($920M/month), and Reflection AI ($150M/month). SpaceX plans to launch up to 1 million solar-powered orbital data centers starting in 2028, with AI revenue projected to grow from $3.2 billion in 2025 to $322 billion by 2030, though significant capital expenditures ($12.7B in 2025) are required.