Space Exploration Technologies Corp. (NASDAQ:SPCX) held its first earnings call as a public company earlier this month, and Elon Musk set an aggressive target: an annualized revenue run rate of $100 billion by December, more than tripling the company's current run rate of just over $30 billion.
According to a Financial Times report, Deutsche Bank revisited that target after the results and mapped out the specific deals it thinks could actually get ****** eX there.
Musk insisted the number isn't a stretch goal, telling ****** ysts on the call that it's roughly what ****** e Exploration Technologies Corp. (NASDAQ:SPCX) would hit "if we basically did nothing" beyond letting existing deals ramp up. That raises the real question: is $100 billion really just a matter of contracts already in motion, or does hitting it require several fast-moving, unproven pieces to land at once?
Photo from Firefly Aerospace website
Deutsche Bank's math shows real building blocks already in place. ****** eX's neocloud business, which provides AI compute capacity to outside customers, generated $1.6 billion in revenue in the second quarter, entirely from Anthropic. That single contract should take it to roughly $3.75 billion in quarterly revenue by the third quarter. A separate agreement with Google, worth up to $920 million a month, starts ramping next month and hits its full run rate in October. ****** e Exploration Technologies Corp. (NASDAQ:SPCX) has also signed a new $6.7 billion deal spanning six months that Deutsche Bank suspects could be with the U.S. government. The bank expects at least one more large compute deal to get signed before year-end.
#exploration #NASDAQ #deutsche
According to a Financial Times report, Deutsche Bank revisited that target after the results and mapped out the specific deals it thinks could actually get ****** eX there.
Musk insisted the number isn't a stretch goal, telling ****** ysts on the call that it's roughly what ****** e Exploration Technologies Corp. (NASDAQ:SPCX) would hit "if we basically did nothing" beyond letting existing deals ramp up. That raises the real question: is $100 billion really just a matter of contracts already in motion, or does hitting it require several fast-moving, unproven pieces to land at once?
Photo from Firefly Aerospace website
Deutsche Bank's math shows real building blocks already in place. ****** eX's neocloud business, which provides AI compute capacity to outside customers, generated $1.6 billion in revenue in the second quarter, entirely from Anthropic. That single contract should take it to roughly $3.75 billion in quarterly revenue by the third quarter. A separate agreement with Google, worth up to $920 million a month, starts ramping next month and hits its full run rate in October. ****** e Exploration Technologies Corp. (NASDAQ:SPCX) has also signed a new $6.7 billion deal spanning six months that Deutsche Bank suspects could be with the U.S. government. The bank expects at least one more large compute deal to get signed before year-end.
#exploration #NASDAQ #deutsche
2 days ago
