A single SpaceX Starship launch could generate more than $700 million in additional annual revenue, a projection showed. Market interest is growing in a business structure that links not only rocket-launch revenue but also the Starlink satellite network and artificial intelligence services.

Cryptopolitan reported on Oct. 2 that Brett Winton, ARK Invest's chief futurist, argued investors are underestimating SpaceX's ability to generate revenue.

Winton said on X, formerly Twitter, that the earnings potential created by combining Starship and Starlink is not being properly valued by the market. Citing ARK estimates, he explained that each Starship launch could drive more than $700 million in incremental annual revenue.

He projected that the additional revenue could be larger if SpaceX moves to monetise AI software based on its satellite business.

SpaceX's revenue structure is not limited to rocket launches. Recently, large contracts with AI companies have emerged as a new growth engine.

SpaceX signed a 32-month contract with Alphabet in June worth $920 million a month. The total contract value is about $29.4 billion. An additional $1.25 billion a month from a contract with Anthropic brings estimated monthly AI services revenue to about $2.2 billion.

Cryptopolitan said that scale exceeds revenue generated from SpaceX's rocket-launch business.

Launch capacity is also expanding quickly. SpaceX recently carried out 3 missions within 13 hours. After sending a Crew Dragon capsule to the International Space Station, it ran a Transporter rideshare mission carrying 130 payloads. It then launched a U.S. National Reconnaissance Office satellite using a Falcon Heavy and recovered the booster.

By successfully carrying out consecutive launches in a short time, SpaceX's launch capability and reuse technology were highlighted again. ARK sees the rising launch frequency, combined with the expansion of the Starlink satellite network, as generating larger revenue over the long term.

ARK is also offering a notably optimistic outlook for SpaceX's long-term enterprise value. In an open-source model released in June 2025 with aerospace research firm Mach33, ARK estimated SpaceX's 2030 enterprise value at about $2.5 trillion.

In an optimistic scenario, it put the enterprise value at about $3.1 trillion. In a conservative scenario, it suggested about $1.7 trillion. The base scenario assumes the enterprise value grows at an average annual rate of about 38% from about $350 billion in December 2024.

ARK's outlook uses Starlink bandwidth demand as a key variable. The model runs 1 million simulations based on 17 inputs. ARK assumed that after Starlink capacity grows on average to near 130 million gigabits per second, the economics of additional bandwidth would gradually decline.

ARK also increased its investment after SpaceX's listing. SpaceX listed on Nasdaq in June at $150 per share and was valued at about $1.77 trillion at the time of its initial public offering. ARK bought about $444.3 million worth on the first trading day, and later purchased an additional about $32.5 million after the share price fell.

Cathie Wood (캐시 우드), ARK Invest's chief executive officer, has also highly rated SpaceX's long-term growth potential. In a July interview, she mentioned SpaceX could become the most important company in global history.

Separately, ARK on Sept. 24 put a tokenised version of its ARK Venture Fund on Ethereum through Securitize. Accredited U.S. investors can invest in the fund using USDC, and SpaceX had the highest weight in the fund at 7.54%.

The market is increasingly finding it hard to value SpaceX simply by the number of rocket launches, an analysis said. That is because more frequent Starship launches can lead to an expanded Starlink satellite network, and adding AI service contracts creates a structure in which a single launch can lift revenue across multiple businesses.

In the end, whether SpaceX's enterprise value is re-rated will depend on how quickly Starship launch frequency, Starlink monetisation and expanded AI service contracts align, the outlook said.

not sure that people really grok the revenue generation potential of starship + starlink/starmind on our expectations each launch could drive $700+ million in incremental annual revenue (and growing, as SpaceXai crosses into AI software revenue monetization) https://t.co/bu0sbqBGzj