Space Exploration Technologies (NASDAQ: SPCX) has quickly become one of the most exciting growth stocks around. With Starlink, Starship, and artificial intelligence (AI) driving its ambitions, it’s natural to wonder how much a $1,000 investment today could be worth by 2029.
First, it helps to start with what SpaceX is building beyond rockets.
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SpaceX is building more than a rocket business
These days, SpaceX is positioning itself at the intersection of aerospace, telecommunications, and AI, giving it several growth engines over the next few years.
SpaceX’s rocket business is a core part of the company. Its Starship program could be a game changer because rapid reusability could potentially lower the cost of sending payloads into orbit. It could also allow SpaceX to conduct launches much more frequently.
Cheaper access to space could unlock more markets across lunar missions, national security, scientific research, and space infrastructure.
But what’s interesting is that growth is no longer coming solely from rocket launches. SpaceX’s connectivity and AI businesses are becoming important contributors to its performance. In turn, that diversification could make the company more valuable by 2029 if it can turn its investments into strong earnings growth.
One of SpaceX’s biggest catalysts today is Starlink, its satellite-based broadband business. Unlike rocket launches, Starlink brings in recurring subscription revenue from its customer base of 13.6 million, nearly double that from a year earlier.
The results are starting to pay off as the company reported $4.4 billion in net income, compared with a loss just a year earlier.
That said, the growth opportunity doesn’t stop there. SpaceX is also investing heavily in the AI boom.
SpaceX’s AI ambitions could create another major source of growth
SpaceX is building out massive compute infrastructure to support AI models, cloud services, and enterprise applications. This creates more opportunities to participate in the rapidly expanding AI market rather than simply supplying rockets and satellites.
The Super Intelligence segment, for example, already generated around $7.6 billion in third-quarter revenue, up by over nine times from the previous year. The company also completed its acquisition of Cursor in August, further expanding its presence in enterprise AI software.
