‘s (NASDAQ:SPCX) Chief Financial Officer Bret Johnsen says the company has closed another compute agreement that would help the Elon Musk-led space giant reach its intended $100 billion ARR target by year-end. ‘s (NYSE:GS) Communacopia and Technology Conference on Thursday, Johnsen touted the new compute deal.
11 billion a month starting December 1st of this year,” Johnsen said. Read Also: Nvidia Stock Sits in 82% of Portfolios, But Hedge Funds Are Making Other AI Bets He added that the figure adds over $13 billion in annual recurring revenue (ARR) for SpaceX as it charts a path to hitting $100 billion in ARR for SpaceX.
“We have even more conviction now about that $100 billion ARR target by the end of this year,” he added. Johnsen did not provide additional details about the agreement, nor did he say who SpaceX had entered into a compute agreement with.
$10 Trillion Valuation X Prize Foundation‘s Peter Diamandis, following SpaceX’s first-ever earnings call since going public, said that he saw the commercial spaceflight giant reaching a valuation of $10 trillion, citing Musk’s efforts to build a “civilizational” level of infrastructure with SpaceX. SpaceX has compute agreements in place with Alphabet Inc.
(NASDAQ:GOOGL) (NASDAQ:GOOG) and Anthropic. Musk also said that the company had a non-zero chance of reaching $1 trillion in revenue by 2030.
Starlink’s New Router, Starbase Louisiana SpaceX also unveiled the fourth-generation Starlink router, touting faster peak speeds, as well as better connectivity in congested areas, water resistance and Wi-Fi 7 technology. SpaceX also said that the company will provide Starlink connectivity to residents around SpaceX’s upcoming Starbase Louisiana at half price.
22 during overnight trading on Thursday. Read Also: Elon Musk's Boring Company Raises $3 Billion at $23 Billion Valuation, Plans Over 93 Miles of UAE Tunnels Check out more of Benzinga’s Future Of Mobility coverage by following this link.
