Speaking to investors, Musk said the company’s internal financial projections had shifted from reaching the milestone in 2031 to 2030, adding there was “a non-zero chance” it could happen as early as 2029.

The rocket-and-AI company posted stronger than expected revenue, but investors choked on the rapidly rising capital expenditures.

Elon Musk expects SpaceX to hit $1 trillion in revenue by 2030 or even earlier, with Q2 2026 revenue of $7.81 billion.