Elon Musk Says SpaceX Will Probably Top $100T Valuation Within 10 Years

Elon Musk stated on X on October 15 that SpaceX will probably surpass a $100T valuation in under 10 years, barring a major world war. That target is roughly 48 times the company's $2.07T market value at its October 14 close, and follows Baron Capital founder Ron Baron forecasting a valuation of up to $50T in a Columbia Business School interview. While Baron expects Starlink to reach a $14T to $15T valuation within a decade and projects space-based data centers could become worth several times more, SpaceX's financials show only Starlink generated an operating profit last quarter. Over the same period, the company's AI division spent $15.8B on infrastructure, and SpaceX is reportedly seeking an additional $40B in debt to purchase Nvidia chips. Credit markets have reacted to the heavy capital requirements since SpaceX went public four months ago in the largest IPO on record. According to the Financial Times, SpaceX's five-year credit default swaps climbed to 194 basis points, up from about 110 in June, bringing the annual cost to insure $1M of its BBB-rated debt to roughly $19,400. SpaceX's own IPO filing offered a more cautious assessment of its long-term orbital compute ambitions than Baron's forecast, noting the initiatives remain in early stages and rely on unproven technologies. "Unless there is a major world war, SpaceX probably gets to >$100T in <10 years" — Elon Musk