SpaceX (SPCX) shares have fallen 29% from a peak of $225 after their June listing, to $159.31 at the close on Oct. 21, with a trailing P/S of 67.5 versus 6.7 for the Nasdaq-100. Musk believes the super intelligence (SI) business could lift annualized revenue to between $500 billion and $1 trillion by the end of 2027, compared with $32 billion generated over the last four quarters. This relies partly on a 440,000-GPU Nvidia Vera Rubin cluster Musk wants online by mid-2027, and on the Grok Bot agent, which is still in beta. The article notes that if SpaceX reaches $500 billion in annualized revenue, its forward P/S could fall to 4.3 within about 15 months, while Wall Street's average forecast is $167 billion in revenue next year. Starlink had 13.6 million paying subscribers at the end of Q3, up 89% year over year.
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