Aerospace company SpaceX is expected to bring in about $15.5 billion in revenue this year, according to CEO Elon Musk. That amount is more than NASA’s $1.1 billion space operations budget for next year. A big part of SpaceX’s success comes from Starlink, which is its satellite internet service. Interestingly, Starlink reached breakeven cash flow in late 2023 and may go public in the future, although no specific date has been announced.
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Separately, SpaceX also launched 23 more Starlink satellites from Florida, 13 of which will support direct-to-cell service. The launch used a Falcon 9 rocket, which landed safely on a drone ship in the Atlantic Ocean after liftoff. Impressively, this was the 21st flight for that rocket booster. In addition, a few days earlier, another mission from California added 27 more Starlink satellites to orbit. These regular launches are helping SpaceX grow Starlink’s coverage and keep its lead in the satellite internet market. In fact, with over 7,600 working satellites in space, Starlink is now the world’s largest space-based internet network.
Former SpaceX Engineer Raises $300 Million
At the same time, Impulse Space, a startup founded by ex-SpaceX engineer Tom Mueller, raised $300 million in new funding to bring its total to $525 million. The company builds “space tugs,” which move satellites to their exact positions in orbit. These are useful for missions where many satellites are launched together and need to go to different spots.
Impulse has already signed over 30 contracts worth almost $200 million and completed two missions using its Mira vehicle. It now plans to hire more people, ramp up research, and expand production to meet rising demand for in-space transportation.
What Is the Prediction for Tesla Stock?
When it comes to Elon Musk’s companies, most of them are privately held. However, retail investors can invest in his most popular company, Tesla (TSLA). Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 16 Buys, 10 Holds, and 11 Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $282.70 per share implies 18.1% downside risk.
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