SpaceX is on track to replicate—and potentially exceed—the spectacular AI revenue surge that Micron experienced in early 2025. While Micron saw its quarterly revenue jump from below $8 billion to over $15 billion within a year and a half, SpaceX is gearing up for an even larger leap, fueled by its significant investments in AI hardware rentals and next-generation chip technology.
At the core of SpaceX’s growth are the extensive AI chip resources housed in its Colossus 2 data center, powered by hundreds of thousands of Nvidia B300 chips. Renting out these chips at prevailing market rates could generate tens of billions annually, with revenue estimates rapidly approaching $60 billion per year by late 2026. This figure could climb sharply with the addition of more chips and the gradual replacement of older models with Rubin chips, Nvidia's next-generation hardware boasting 10 times the inference efficiency.
The move to Rubin chips presents a compelling multiplier effect on revenue. Renting 550,000 Rubin chips could generate revenues between $110 billion and $160 billion per year, thanks to their superior performance and rental value. Based on current trends, SpaceX could add over 100,000 such chips each quarter, potentially pushing the AI rental revenue past $200 billion annually by 2027 or 2028. This staggering figure would put SpaceX on par with Nvidia in terms of revenue and profitability, illustrating the enormous financial potential of AI infrastructure leasing.
Additionally, SpaceX continues to expand its satellite and launch services, supporting its growing infrastructure and contributing steady revenue streams outside of AI chip rentals. Looking even further ahead, new chip generations like Feynman, expected after Rubin in 2028, promise a further 4 to 6 times efficiency boost over current models. Revenues from such advanced hardware could soar to $220 billion–$500 billion annually, highlighting a future where SpaceX’s AI business becomes a dominant force in the global tech economy.
This transformation parallels the AI-driven business revolutions seen in semiconductor companies but is unique in combining data center rental revenues with satellite operations and launch services. SpaceX’s strategic positioning in AI hardware leasing offers a direct path to outsized growth by capitalizing on the surging demand for AI computation power.