Valuation • Space Exploration Technologies

SPCX

Space Exploration Technologies Corp. (SpaceX), founded in 2002, is an American aerospace and artificial intelligence company headquartered in Starbase, Texas. The company designs, manufactures, and operates launch vehicles, spacecraft, and a satellite broadband network. SpaceX's stated long-term focus is reducing the cost of space transportation and developing technology to support human missions to Mars. SpaceX's revenue is generated primarily from commercial and government satellite launches, NASA contracts for cargo and crew transportation to the International Space Station, and subscriptions to its Starlink satellite internet service. The company also holds U.S. government contracts under the Commercial Crew Program and the Artemis Human Landing System program, and provides launch services to commercial and national security customers worldwide. Through the integration of xAI, the company has added revenue from AI model access, enterprise AI services, and related compute capacity. SpaceX's primary launch vehicles are the Falcon 9, a partially reusable two-stage rocket, and Falcon Heavy, a heavy-lift derivative. The company is developing Starship, a fully reusable two-stage launch system intended for satellite deployment, lunar missions under the Artemis program, and other deep-space missions. Starlink is the company's low-Earth-orbit satellite constellation, providing broadband internet service to consumer, enterprise, maritime, aviation, and government customers. The former xAI organization continues to develop the Grok family of large language models and operates large GPU-based training and inference clusters. Elon Musk serves as Founder and Chief Executive Officer. In recent years SpaceX has accounted for the majority of orbital launches conducted by U.S. operators and a substantial share of global orbital launches. Its near-term areas of focus include continued Starship flight testing, expansion of the Starlink constellation and subscriber base, execution of existing NASA and national security contracts, and integration and scaling of the xAI business.