SpaceX reaches $2.2 trillion valuation amid Starlink growth

SpaceX has reached a market valuation of approximately $2.2 trillion as of October 2026. This valuation follows a June 2026 IPO and a recent $60 billion acquisition of the AI coding company Cursor, which involved the issuance of 391 million Class A shares.

Starlink has emerged as a primary revenue driver for the company, accounting for 55% of SpaceX's revenue in the second quarter of 2026. The satellite internet service is experiencing rapid expansion, adding roughly 570,000 net subscribers per month, totaling 1.7 million new users during the quarter. With an average revenue per user (ARPU) of $66 per month, this growth rate adds approximately $450 million in annual recurring revenue for every month of growth.

Despite this momentum, potential challenges include declining ARPU as the service expands into lower-priced markets and possible network capacity constraints. To address capacity, SpaceX recently deployed 26 Starlink V3 satellites designed to support 1 Tbps of downlink capacity each.