SpaceX just posted $7.8 billion in revenue for the second quarter of 2026, a 92% leap from the same period a year earlier. Deutsche Bank analyst Edison Yu now says the company’s path to a $100 billion annualized revenue run rate is not only plausible but achievable faster than Wall Street previously thought.
Where the money is coming from
Two business lines are doing the heavy lifting. Starlink, SpaceX’s satellite internet constellation, generated roughly $4.3 billion in Q2 revenue alone. The service now counts 12 million subscribers globally.
The more surprising growth engine is AI cloud services, which brought in approximately $2.56 billion during the quarter.
Yu pointed to new cloud contracts and growing Starlink enterprise uptake as the primary catalysts pushing the company toward that $100 billion milestone.
