SpaceX Targets 10GW Power Goal, Could Reach $500B in Capex

SpaceX's Elon Musk has set ambitious goals for the company's growth in 2027, aiming to deliver an incremental 6-8GW of power and potentially up to 10GW. This would translate to a massive $300-$500B in capital expenditures (capex), rivaling Amazon Web Services and Google.

A report by SemiAnalysis suggests that this target is achievable, with the company on track to build around 10GW by year-end 2027. To put this into perspective, large-scale compute is a scarce resource, priced at up to $50B/GW/year.

The majority of this revenue will come from AI labs, which can generate over $100B/GW/year of revenue when selling API inference on a GB300 cluster. This is significantly more than the costs of renting a GB300 cluster for a year at current neocloud prices.