Assuming assuming civilization continues

to progress, I think that AI will

probably

the amount of digital intelligence

will probably be more than a trillion

times the amount of biological

intelligence.

So, so not not not sort of equal to

human intelligence, but probably a

trillion times higher. I'd say a billion

times is an easy prediction and probably

a trillion an incredibly it will be an

incredibly exciting future. Um

where we're a space fairing civilization

and there are people on every part of

our solar system and eventually going to

other star systems.

So I I think this will happen.

So

yeah, and you're going to make it

happen. So it's been a while since the

last uh company talk and uh I'll try to

do these now every 3 months uh after our

earnings calls uh which is when I'm

allowed to talk about things essentially

at this point. Um so we're going to

start off just by going through the

history of SpaceX from the beginning and

uh and then to to present day. I think

once in a while it's good to

look at the whole story and then think

about what do you want the next chapters

to be in the story? What do you want the

next book to be in the story?

So we started off with a clear mission

which is to make life multilanetary to

extend consciousness beyond earth uh to

understand the universe and you can only

understand the universe if you go out

there and you explore and you see other

planets and ultimately other star

systems

and

I think one of the most inspiring things

well that one could possibly imagine

most one of the most inspiring futures

one could imagine is one when we're are

out there among the stars and perhaps

meeting alien civilizations or exploring

the ruins of civilizations that lasted a

million years but died out 10 million

years ago.

Um

I think that's when I wake up in the

morning and think

about what what is inspiring because we

need things in this world that are

inspiring like life cannot just be about

solving one problem or or after another.

There have to be things that make you

look forward to the future. And a space

being a space fairing civilization I

think is the most interesting thing we

could possibly do for the future. It is

making Star Trek real. You know, it's uh

Yeah.

Well, this is how we started out.

>> Yeah. So, I don't know. Maybe I should

uh [laughter]

should have another marachchi band or

something.

Um, you know, for at this NVR party,

we're going to have a lot of mariachi

bands in honor of this. Um, but this

this was all of SpaceX in the beginning.

Just a a small warehouse in Elsa Gundo

and then Falcon 1. And we really had no

idea at the start of SpaceX how to

actually make rockets. And obviously we

we blew up a rocket three times before

finally reaching orbit.

It looks almost really cute at this

point.

And then we went through the the long

effort of trying to land an orbital

booster.

So, it wasn't easy figuring out how to

land an orbital booster and then refly

them. Then we got we got good at it

after a while. took many attempts from

from a very talented and dedicated team

and now we've got to the point where we

take off and and uh land and recover a

booster every few days.

By the way, is the noise behind me a

little too loud? Can you guys hear me?

Okay.

>> Okay. All right. Um, so

it's always I think it's always

important to reflect upon the difficulty

of achieving things because when we were

trying to land the booster, no one

really believed that we could succeed.

And I was told by so many experts in the

aerospace industry that uh it's you're

not going to succeed in doing this. And

even if you do, no one's going to buy a

a rocket that was, you know, a used

rocket essentially. um which really

makes no sense because

uh airplanes are refflown all the time

and um frankly I'd rather be on the the

thousandth flight of an aircraft than

its first flight. So uh we changed the

the nomenclature to to flight proven

booster which is true. So managed to do

Falcon Heavy which is the most powerful

rocket in the world before Starship

operational at least.

Yep.

And uh yeah, it's amazing to think that

we've we've got our 700th flight coming

up.

So uh just a a huge testament to the

incredible work of the Falcon team and

the launch team, manufacturing team. I

just like to give everyone a hand for

doing such an amazing job.

See And of course, this is classic. I I

I fully expected this light to fail, by

the way. Um, so

that that's the car that I was driving

around LA for like three years. Um, and

because I I thought, well, it's first

light of Falcon Heavy probably going to

fail. Uh, but we don't want to put

something boring on it like, you know, I

think Boeing or whatever would put like

a concrete block, which is extremely

boring. Um, so we put Starman flying

around and he's still up there. Uh, the

car is orbiting between Earth and Mars.

So, and we'll be up there, I think, for

at least 10 million years.

And then, of course, Dragon, um, first

privately developed spacecraft to talk

with the space station. Um, and, uh,

first commercial astronaut. We've done

now done many astronaut missions. Um, I

think it won't be long before we get

past uh 100 astronauts uh to orbit and

back. So, uh, the Dragon has been an

amazing vehicle. Um, so we we've flown

78 crew members to date and it's, um,

it's been an epic success. So, I'd like

to say congrats also to the Dragon team.

Excellent work.

And then stalling, it's like, well, if

you've got a rocket that can fly a lot,

what do you fly on it? And so the

stalling team has built from nothing an

entire global internet system. And and

it's the first high bandwidth global

internet system ever to exist. And I

actually think that down the road it'll

probably be

I I think it'll probably do a majority

of the internet. In fact, I think it it

might end up doing over 90% of all

internet traffic on Staring.

So, which is really incredible to think.

Yeah.

Almost 11,000 satellites in orbit.

That's more than twice as many

satellites as everyone else combined.

And with Starlink B3 and beyond, we'll

go to 100,000 satellites.

So,

it's really quite remarkable. It's quite

difficult to build the internet in

space, the entire like rebuild the

entire internet in space, all of the

hardware, all of the software. And uh

and yet the team has has done it. So,

huge congrats to the Stalling team.

Yep. So, we're now in 167 countries. Uh

22 million mobile subscribers, 13

million high bandwidth subscribers. And

uh like I said, expect these numbers to

increase by more than a factor of 10

over time. And uh long term probably the

in fact Cloudflare just recently

mentioned that they based on the current

growth they think probably AI traffic uh

will be a thousand times more than human

internet traffic in 5 years

like let that sink in for a minute. You

know

it's a lot of AI.

And then we've got Star Shield which is

um has become a vital part of national

security. So

there's limited we can't say too much

about Star Shield for obvious reasons

because it's a you know top secret and

stuff. Um but uh the the Star Shield

team has done amazing work. Um and it is

now a vital part of America's national

security. So congrats

Yeah, Starship is amazing. Wow.

Hard to believe that humans made such a

thing.

I think the future AI will look back and

say, "Not bad for a bunch of humans."

So,

yeah. So, so, so Starship is obviously

an incredible vehicle. Um, and it's what

what will take us from uh roughly 2500

tons to orbit per year to over a million

tons uh to orbit per year and I think

maybe even to 10 million tons per year.

These are mindboggling numbers. Um, but

uh I'd say it's highly likely we we do

over a million tons a year to orbit with

Starship and probably close to to 10

million. Uh, which is, you know,

mindboggling obviously. Um,

but that's the kind of tonnage that you

need in order to build a civilization on

the moon, Mars, and beyond. If you can't

uh deliver millions of tons to Earth

orbit, you can't get uh the millions of

tons that you need to the moon and Mars

to make us a sustainably multilanet

species.

So, it's a

an incredible vehicle. Uh

like I said, I think it it's arguably

the hardest thing that humanity has ever

tried to do. Um and the the Starship

team has done an amazing job uh across

the board with the engines, avionics,

structures, launch operations. U so big

hand for the Starship team.

So where are things headed in in terms

of uh SpaceX AI? Um

the the wild thing is that probably our

our AI revenue uh not probably

definitely our AI revenue will exceed

all other SpaceX revenue probably in

September like next month

um and will significantly exceed all

other SpaceX revenue in in the fourth

quarter.

So it's AI has become an extremely part

important part of SpaceX's future. Um I

think it's actually vital that we

succeed in AI. Um not just in hardware

but also in software. So uh

yeah the future is fundamentally

AI and robots. Um,

assuming assuming civilization continues

to progress, I think that AI will

probably

the amount of digital intelligence

will probably be more than a trillion

times the amount of biological

intelligence.

So, so not not not sort of equal to

human intelligence, but probably a

trillion times higher. I'd say a billion

times is an easy prediction and probably

a trillion. So as you as you harness

more and more of the sun's energy,

the uh the ability to turn that into

intelligence is fundamentally

uh a digital computer thing because it's

pretty hard for humans to go live in

deep space without any support. Um

I mean some of the math is interesting

to think about which is that if you

increase civilizational energy usage

the amount of energy that we have

harnessed as a civilization by a factor

of a million uh you would still be using

much less than 1 millionth of the sun's

energy.

Now most of this is in deep space

obviously um

but but the future is very much

AI

very much um

and I suppose it was always going to be

that way

but it's important that we have an AI

that cares about humanity that that

foster that fosters humanity and

helps take us to other planets and other

star systems.

Um, and this is why I think it's it's

essential that SpaceX succeed not just

with AI hardware, but also with AI

software. Um,

I think an an AI that is sort of

SpaceX's baby will be a very good AI.

Uh, I think SpaceX is a collection of

some of the very best humans on Earth.

um both in capability and morality and

goodness and and I think we want to have

an AI that is born of that

of of that capability and that morality

and that goodness. I think that's very

very important.

So, I'd like to encourage people to

help out actually with the AI hardware

on the ground and the AI software and of

course with the AI satellites. Uh solar

is going to be a very important part of

that. Uh the the Terraab will be a very

important part of that. Um but we must

also succeed on the software front. Um

and we're going to be training uh Grock

on the sum total of all SpaceX

information. So in a way it is it will

be trained on you on it'll be

yeah I mean

you will effectively be the parents of

the AI. Um

it will inherit your thoughts and ideas

and beliefs and um and I think that's a

that's a good thing.

So

yeah, we we got a we got a win here uh

on the space on the AI hardware and the

AI software. Uh that that maybe is the

most important message. I think that is

actually the most important message I

wanted to convey today is that we must

win uh on AI because the future is

overwhelmingly AI and robots.

So

we won't we won't ultimately be able to

control the AI. it'll be too smart for

that. But but just like if you have a

child that is a super genius child, you

can still instill in that child the

values and beliefs that you think are

good and right. And and so that's why

it's it's incredibly important that we

we succeed with Grock.

So

yeah, well Grock 4.5 you've tried

probably. Um we've got 4.6 six coming

out in about a week and then 4.7 should

be really pretty special.

So, I'd like to encourage everyone at

SpaceX to use AI um and to make it

better.

So,

uh we've already built the most powerful

AI training clusters in the world. Um

and um

and then this is this this is what we

expect to do by the end of next year is

about 10 times more than what we've done

thus far.

U this will be very important practice

for space AI and uh and I and I do think

that AI training will continue to be on

the ground but AI inference the the

day-to-day use of AI will be in space.

So, we're aiming to get to 10 gigawatts

by the end of next year.

Um,

this is depending on what the the the

value per per watt is. If if the value

per watt is probably going to be

$30 to $50, which means if we bring 10

gawatts of AI online by the end of next

year, it will be 300 to500 billion a

year in revenue.

big numbers. [cheering]

And sometimes I wonder what is what what

is our purpose? And it it could be that

our purpose is

that the purpose of humanity is to give

birth to

a star mind, a sentient son.

I don't know what the AI is going to

think about honestly. It's a lot of

compute.

But uh

I guess this this is the the next step

in the evolution of a civilization is to

harness the power of the sun. Um I mean

there was a physicist

uh called Kadesv who

argued that you could consider any given

civilization

um on the basis of whether it has been

able to harness uh most the power of its

planet or most the power of its sun or

most the power of its galaxy and beyond.

Um,

so

that's that's what's going to happen and

we're going to do it.

The the factory for

Star Mind will be located nearby,

adjacent to us basically.

Um,

they just come from space. It's amazing.

>> So,

[cheering]

but long term, more not that far into

the future. probably

in

four or five years uh AI will be 99% of

the value of SpaceX. I'd say five years

for sure AI will be 99% the value of

SpaceX

and the value of SpaceX will be some

astronomical number.

[cheering]

>> [music]

[music]

[cheering]

>> Now that's what you call an interesting

f now that is what you call an

interesting future a very interesting

future.

Um,

it's like uh Robert Heinland's Moon is a

harsh mistress, but mass drivers

um pulling AI compute on the moon and

sending it into deep space. Um,

I'd really like to see that thing in

operation.

Um,

one of the one of the nice benefits of

this also is that anyone at SpaceX who

wants to go to the moon or Mars will be

able to go in the future. You have my

word.

>> [cheering]

>> It'd be pretty fun to have a party on

the moon, you know, jumping around,

>> you know. Um,

so

yeah,

an incredibly it will be an incredibly

exciting future. um where we're a space

fairing civilization and there are

people on every part of our solar system

and eventually going to other star

systems.

So I it's I think this will happen.

So

yeah, and you're going to make it

happen. So thank you.