This update was written automatically with AI from market data and news wire reports, and published without review by a person.
Key Takeaways
- SpaceX (SPCX) shares jumped more than 8% following Elon Musk’s projection that the company’s annualized revenue could exceed $500 billion by December 2027.
- President Donald Trump named Stephen Miller as his new White House Chief of Staff, replacing Susie Wiles, who will transition to lead the Trump political operation.
- Google (GOOGL) announced a $17 billion investment in its first Wyoming data center campus, acquiring a strategic site from AI infrastructure firm Crusoe.
- SpaceX’s AI segment, "Super Intelligence," has officially surpassed Starlink as the company's largest revenue driver, contributing $7.6 billion in Q3 2026.
- Musk expects Q4 2026 revenue to climb approximately 70% sequentially, driven by massive demand for AI compute and a shrinking reliance on government contracts.
SpaceX Rallies on Massive Revenue Forecasts
SpaceX (SPCX) shares extended gains to a session high of 8.3% on Friday after CEO Elon Musk issued a series of bullish financial forecasts. Musk stated that the aerospace and AI giant is on track to reach a $100 billion annualized revenue run rate by December 2024, with expectations to scale that figure above $500 billion by late 2027.
The rally follows a period of volatility for the stock, which recently went public in mid-2026. Investors appear to be shifting focus toward the company's rapidly expanding AI infrastructure business, which Musk claims could eventually reach a run rate of $1 trillion. Despite the ambitious targets, SpaceX reported a net profit of $4.4 billion for the third quarter, a significant turnaround fueled by its "Super Intelligence" division.
Trump Appoints Stephen Miller as Chief of Staff
In a major administrative shake-up following the 2026 midterm elections, President Donald Trump announced that Stephen Miller will become the new White House Chief of Staff. Miller, previously the Deputy Chief of Staff and a long-time architect of the administration's immigration policies, will officially assume the role on Monday, November 9, 2026.
Outgoing Chief of Staff Susie Wiles, the first woman to hold the position, will move to the Trump Political Operation. The transition comes as the administration recalibrates its strategy following Republican losses in Congress. Trump praised Wiles for her "outstanding job" and indicated that Miller’s appointment signals a continued hardline focus on domestic policy and border security.
Google Expands AI Footprint with $17B Wyoming Project
Google (GOOGL) has finalized the acquisition of a data center site in southeast Wyoming from Crusoe, marking a pivotal step in its $17 billion infrastructure commitment to the state. The Cheyenne-based campus is designed to be a "first-of-its-kind" facility, utilizing 702MW of fuel cell power combined with carbon capture and storage (CCS) technology to minimize environmental impact.
The project is a collaboration with Tallgrass Energy and Black Hills Energy, aiming to provide the massive compute power required for next-generation AI models. By utilizing air-cooling technology, Google intends to mitigate local water usage concerns, a growing point of contention for large-scale data center developments in the Western United States.
Market Context: AI and Political Shifts
The convergence of SpaceX's growth and the new White House leadership highlights a period of intense focus on AI and national infrastructure. Musk noted that government contracts now account for less than 10% of SpaceX's quarterly revenue, as the company pivots toward becoming a global provider of AI compute.
Meanwhile, the broader tech sector is monitoring the impact of the midterm results on regulatory outlooks. While SpaceX and Google continue to deploy billions into domestic infrastructure, the shift in Congressional control may lead to increased scrutiny of data center energy consumption and AI safety standards. SpaceX stock remains a focal point for institutional investors, with recent filings showing significant stake increases by firms such as Principle Wealth Partners.
Automated market updates written with AI from market data and news wire reports, published without human review.