SpaceX (SPCX) Stock: CFO Signals “Even More Conviction” on $100B Revenue Target

TLDR

• SpaceX CFO Bret Johnsen said the company has gained greater conviction it can hit a $100B annual revenue run rate
• A new AI computing deal worth $1.11B per month starting December adds roughly $13B in annualized revenue
• SpaceX reported Q2 revenue of $7.81B, up 91.9% year over year, beating EPS estimates by $0.17
• The stock opened at $148.18 on Friday, with an analyst average price target of $221.06 and a “Moderate Buy” consensus
• Risks include a valuation near 98 times sales, lockup expirations adding share-supply pressure, and uncertainty around AI data center expansion

SpaceX (SPCX) stock opened at $148.18 on Friday, up 0.4%, as CFO Bret Johnsen told attendees at the Goldman Sachs Communacopia + Technology Conference that the company now has “even more conviction” it can reach a $100B annual revenue run rate.

Space Exploration Technologies Corp., SPCX

The catalyst? A new AI computing contract worth $1.11B per month, beginning in December, with an undisclosed customer. That single deal adds roughly $13B in annualized revenue to the pipeline.

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