SpaceX CFO Bret Johnsen laid out an ambitious growth strategy spanning reusable rockets, satellite connectivity, and artificial intelligence infrastructure at a major industry conference.
Speaking at the Goldman Sachs Communacopia + Technology Conference, Johnsen revealed the company has signed an AI compute hosting agreement valued at $1.11 billion per month, with revenue recognition beginning December 1.
The deal carries an annualized value of approximately $13.3 billion and has made management “even more confident” about hitting a $100 billion annualized revenue run rate by the end of 2026.
SpaceX (NASDAQ: SPCX) plans to expand its ground-based AI infrastructure from just over 2 gigawatts by end of 2026 to between 5 and 10 gigawatts in 2027.
The company also intends to launch its first orbital AI data center satellites in the fourth quarter of 2027, targeting a market largely underestimated by outside observers.
Johnsen described orbital compute as “definitely the future,” arguing it could reach cost parity with terrestrial data centers as soon as next year if Starship reusability advances on schedule.
The economic case for orbital compute hinges on Starship achieving full reusability, a milestone Johnsen said is progressing after a recent test flight successfully completed a precision ocean landing of the upper stage.
Johnsen noted SpaceX’s extensive experience in rocket reuse, pointing out the company has now reflown more than 500 Falcon 9 boosters to space as evidence of its operational capabilities.
He argued that deploying compute infrastructure in orbit could sidestep the power, cooling, and permitting constraints that are increasingly bottlenecking terrestrial data-center construction.
The orbital compute satellites would largely build on the V3 satellite platform already being deployed for Starlink, fitted with modified payloads and larger solar arrays to support computing workloads.
SpaceX exclusively uses Nvidia processors for its AI infrastructure, with Johnsen characterizing the relationship with the chipmaker as “very strong.”
The company acquired mid-band spectrum from EchoStar for U.S. operations, which has received Federal Communications Commission approval for both direct-from-space and terrestrial use.
Johnsen indicated SpaceX could build out terrestrial capabilities using that spectrum independently or partner with existing wireless carriers depending on market conditions.
The company has accumulated a substantial backlog of airline installation orders and currently offers service level agreements to enterprise Starlink customers seeking guaranteed connectivity performance.
SpaceX plans to deploy next-generation direct-to-cell satellites next year and is targeting commercial 5G-grade mobile connectivity services by the first half of 2028.
Upcoming Starship missions are expected to carry production V3 Starlink satellites for the first time, marking the vehicle’s first deployment mission tied to direct revenue generation.
Johnsen identified Starship development and terrestrial compute as the company’s primary near-term investment priorities, while framing orbital compute as its most consequential long-term opportunity.
