SpaceX Will Become the First $10 Trillion Company, Says Peter Diamandis

Peter Diamandis, one of SpaceX’s early investors, says SpaceX will become the first company in the world worth $10 trillion, and later the first worth $100 trillion.

That’s according to CNBC, where the XPRIZE Foundation founder joined “Squawk on the Street” on Wednesday morning, a day after SpaceX reported its third quarter results. “I posted yesterday, I think SpaceX becomes the first $10 trillion company and then $100 trillion company,” said Diamandis, who first invested in SpaceX in 2013. He also pointed to Elon Musk’s recent comments about SpaceX one day being worth several times the world’s GDP. “If you do the math, that’s $1 quadrillion company. So we have a lot coming,” he said.

The post he was referring to went up on X on Tuesday evening, October 20, when Diamandis wrote, “Mark my words, SpaceX will become the first $10T company, and the first $100T company.” Musk reposted it later that night.

When the hosts asked whether he supports SpaceX buying Tesla, Diamandis said he does. “Ultimately, he’s building a company that is integrated up and down the superintelligence stack, both in digital intelligence and in physical intelligence,” he said. “With Optimus and Cybercab, there’s never been a company like this.”

Asked how SpaceX will pay for orbital data centers and a possible wireless network, Diamandis argued the company is no longer what most people think of it as. “SpaceX has stopped being just a rocket company. It’s now a superintelligence company. It’s a global communications company. It’s a dominant infrastructure company,” he said. “And they’ve got revenues and they’ve got profits.” He added that “chips are no longer the bottleneck. It’s energy and infrastructure, and nobody is better at building energy systems, infrastructure systems than Elon.”

Diamandis was just as direct when asked whether SpaceX could reach $1 trillion in annual revenue in 2028 or 2029. “I do, 100%,” he said. Much of his case rests on Starlink, which he described as “becoming the de facto, you know, nervous system of the planet,” with AI agents talking to each other set to drive a big jump in traffic. “Where’s that comms going to come from? It’s going to come from Starlink,” he said.

On political risk, one of the CNBC hosts noted that the climate around Musk could change after the midterms or the next presidential election. Diamandis acknowledged “there’s no question there is some level of political risk,” but said SpaceX’s business is spread across government, commercial and consumer customers. “I think that there’s too much dependency on SpaceX over the next three years to do anything like that,” he said of any attempt to break up or throttle the company.

SpaceX’s latest numbers give him plenty to point to. The company posted $4.4 billion in net income in the third quarter on revenue of $14.6 billion, up 161% from a year earlier, in its first profitable quarter since going public in June. Starlink connectivity revenue rose 69% to $5.2 billion, with 13.6 million consumer subscribers, while the SpaceXSI segment brought in $7.6 billion.

Tuesday’s earnings call also put a formal process behind the merger talk Diamandis was asked about. Musk said Tesla and SpaceX have each formed special committees of independent directors to look at combining the two companies, but warned that assuming a deal is a certainty “would be overstating it.” Tesla reports its own third quarter results after the market closes today, October 21.

Musk has been floating even bigger numbers than Diamandis. Earlier this month he said he sees “a path to SpaceX being worth orders of magnitude more than the current Earth economy,” and that a valuation above $1,000 trillion now appears to be among the possible outcomes. SpaceX listed on Nasdaq under the ticker SPCX in June at $135 a share, a price that valued the company at roughly $1.75 trillion.

This also isn’t the first time Diamandis has made the $10 trillion call on the network. He appeared on “Squawk on the Street” on August 5, after SpaceX’s first earnings report as a public company, in a segment CNBC titled “SpaceX could become the first $10 trillion company, says early investor Peter Diamandis.” You can watch his full interview from Wednesday on CNBC.

Do you think SpaceX gets to $10 trillion before any other company?