TradingKey – Elon Musk recently stated at an internal SpaceX (SPCX) all-hands meeting that within the next five years, the AI business could account for about 99% of SpaceX’s company value, at which point SpaceX’s overall valuation will reach an “astronomical figure.” This means that in Musk’s plan, SpaceX will no longer be merely an aerospace company relying on rocket launches and Starlink business growth, and AI is expected to become a new core growth engine.

This shift has already begun to show in its financial performance. SpaceX’s second-quarter revenue reached $7.814 billion, up 92% year-over-year, with AI business revenue of about $2.6 billion, up 213% quarter-over-quarter and 247% year-over-year. Musk also expects AI revenue to…