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Skip NavigationMarketsBusinessInvestingTechPolitics & PolicyVideoWatchlistInvesting ClubPROLivestreamMenuWe recently added to our SpaceX position in our Growth and Income Portfolio at approximately $161 a share, after previously buying around $121. Founded by Elon Musk in 2002, Texas-based SpaceX is best known for its reusable rockets, which launch satellites and spacecraft into orbit. The company also operates Starlink, its satellite internet service. But SpaceX is no longer just a rocket company. Its expansion into wireless communications and artificial intelligence is opening up new opportunities for growth. Key points Starlink is becoming an increasingly important source of recurring revenue. An expansion into wireless communications could open a much larger addressable market. SpaceX’s push into AI could expand its business well beyond rockets and satellite connectivity. The stock pulled back last week following a report that it was seeking roughly $40 billion to purchase Nvidia chips. That’s a lot of money, but I see a much bigger story unfolding. Between Starlink’s expansion into wireless communications and SpaceX’s growing AI ambitions, I believe the company is entering an exciting new phase of growth. Why I’m buying A powerful recurring-revenue business Unlike rocket launches, which generate revenue one mission at a time, Starlink brings in recurring revenue from customers paying for internet connectivity. Revenue of SpaceX’s connectivity segment rose approximately 66% year over year in the second quarter, while its consumer subscriber base more than doubled . Starlink also serves businesses, airlines, ships and government customers, giving it opportunities well beyond household internet service. What sets SpaceX apart is its ability to launch and maintain its own satellite network using reusable rockets, an advantage that’s costly and difficult for competitors to replicate. Starlink expands into wireless On Oct. 8, SpaceX announced an agreement to acquire wireless spectrum licenses from Grain Management in a deal reportedly valued at approximately $8 billion. The company has also received FCC approval to launch 15,000 next-generation Starlink Mobile satellites. This could eventually allow Starlink to connect directly with ordinary mobile devices, extending its reach beyond satellite broadband. AI could become another growth engine In the second quarter, SpaceX’s AI business generated approximately $2.56 billion in revenue , up 247% year over year. The company also reported roughly $14.1 billion in contracted AI cloud sales. Building the computing infrastructure to support that growth requires enormous amounts of capital. But I believe AI could become another significant source of revenue over time. SPCX YTD mountain SpaceX, YTD Why now? Shares have pulled back to around $154, roughly 32% below their 52-week high of $225.64. But the pullback hasn’t changed my conviction in SpaceX’s long-term potential. If anything, it reinforces why I want to own more. Bottom line My biggest concern is capital spending. SpaceX reported approximately $28.5 billion in capital expenditures during the first half of 2026, compared with roughly $3.5 billion in operating cash flow. Still, I believe we’re only in the early stages of commercializing space. SpaceX is positioning itself to capitalize on industries that could increasingly depend on space-based technology. That’s why I believe its biggest opportunities are still ahead. Kevin Simpson is the founder and CEO of Capital Wealth Planning. Under his leadership, the firm has grown to manage over $19 billion in assets. Disclosures: Simpson owns in Capital Wealth Planning. 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