SpaceX bought xAI earlier this year for $250 billion, yet the company now assigns that division a total addressable market of $26.5 trillion. Most of that figure rests on enterprise projects, including an agentic AI platform and orbital data centers, that SpaceX itself calls very early stage.
A $250 billion deal, a $26.5 trillion market
SpaceX values its own business partly on a total addressable market it puts at $28.5 trillion. The company says nearly 93% of that figure comes from its artificial intelligence division. That division exists only because SpaceX reportedly purchased xAI earlier this year for $250 billion in an all-stock deal — a company also owned by SpaceX founder Elon Musk. The gap between that purchase price and the $26.5 trillion now assigned to the AI unit is the story.
What sits inside the AI division
The division spans Grok intelligence, the social platform X, and data centers built for AI compute. It also includes plans for a terafab facility and enterprise software such as Macrohard, an agentic AI platform meant to handle work like coding or product development. SpaceX further intends to launch data centers in space to capture a share of AI compute demand.
Of the $26.5 trillion figure, $22.7 trillion is tied to enterprise applications such as Macrohard and the terafab facility. According to Fool: "very early stages" is how SpaceX's own registration statement describes those projects. The terafab's first construction phase is not due to finish until 2028, and SpaceX is targeting 2028 for its first orbital compute satellites.
Starship and the sweetheart-deal question
Any orbital ambitions depend on Starship, SpaceX's reusable super-heavy-lift rocket. The company's 14th test is expected to launch on Sept. 28, aiming to be the first attempt to send Starship into orbit around Earth. Shares of Space Exploration Technologies trade at $148.03. That gives the company a market cap near $2.0 trillion.
Because Musk owned xAI before selling it into SpaceX, questions remain over whether the terms favored SpaceX. xAI, meanwhile, still depends on SpaceX's launch capabilities to pursue its space-based plans. The Fool's Bram Berkowitz writes that the distance between the $250 billion purchase price and the $26.5 trillion addressable-market estimate is what investors need to weigh before trusting SpaceX's valuation.
Source: The Motley Fool
Trading involves risk.
Risk Disclaimer
