SpaceX Huge AI Revenue Growth Mirrors Micron But Will Be Bigger

Micron (MU) delivered one of the most dramatic AI-driven turnarounds in recent memory. In calendar 2024 / early fiscal 2025, quarterly revenue sat in the $5–8B range while the stock traded mostly between $80–$150. By mid-2026, quarterly revenue had exploded past $15B (hitting $23.86B in one quarter) and the stock surged above $1,000 and the company went to $1.15 trillion up fro November 2024 $110 billion.

SpaceX (SPCX) is in a remarkably similar inflection point right now.

Micron moved from $6B per quarter to $25 billion per quarter over 2 years. SpaceX was at $4.6B in Q1 of 2026. Q4 the SpaceX revenue is $2.2B per month from Anthropic and Google. $0.7B per month from Cursor. Grok Revenue $0.1B per month. This $9B per quarter. Cursor can overperform and Grok can and another deal could add $3B in the quarter.

$6-7B per quarter from Starlink and DTC and launch. $15B per quarter

This is where SpaceX has more leverage than Micron ever did.

If SpaceXAI rented out the remainder of Colossus 2 (345K Nvidia B300 chips at the Google price of $11 billion per year for 110k B200 chips) this would be $34 billion per year. 550K B300 chips is $55B/year.

In Q4 2026 without much more rental SpaceX would be at a $60 billion per year runrate that would be similar to Broadcom.

However, building another 440K chips of data center over 12 months could rent out the rest of Colossus 2 while moving to new Rubin chips. The Satellite revenue and launch revenue is also still growing. Mid 2027, $100 Billion per year runrate. AI rental revenue is at 70-80% margins.

At $200 billion per year of revenue, SpaceX is at Nvidia revenue and profit levels. This should happen in 2027 or mid 2028.

SpaceX has 20% allocation of Rubin chips. Rubin chips (next-gen Nvidia), Rubin chips have 10X the inference efficiency of B300 chips. This should be 2-3X in rental. If 2X that would be $22 billion per year per 100k R100 chips. 550K R100 Chips would be $110B/year to $160B/year. Renting out 550K Rubin chips next year is possible. Adding 110-200k per quarter is possible. Adding 100K chips per quarter is $22 billion per year per quarter of new revenue.

Feynman (after Rubin in 2028) 4-6X from B300. $220B/year to $500B/year

Cursor composer 3 and beyond, Grok 5 and Grok 6 Code. This could get to the higher Jensen quote of $300b-400B per year from 1 GW for Rubin Chips. +3x on top.

Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments