Musk: Q4 Revenue Expected to Grow 70% QoQ, Annualized Revenue on Track to Top $500 Billion by End of 2027

Odaily — SpaceX CEO Elon Musk said at the Baron Investment Conference that the company's fourth-quarter revenue is expected to grow about 70% from the third quarter, and reiterated that it is on track to reach $100 billion in annualized revenue by this December and surpass $500 billion by the end of 2027.

Musk said revenue from U.S. government agencies is expected to fall below 10% this quarter, down from 16.6% in the previous quarter. Bloomberg previously reported that AI company Anthropic has become SpaceX's largest single customer, contributing more than one-third of its third-quarter revenue. In addition, SpaceX has signed computing power leasing contracts with tech companies including Google.