SpaceX Just Identified a $22.7 Trillion Enterprise AI Market. These 2 AI Stocks Are Already Inside the Empire.

Space Exploration Technologies (NASDAQ: SPCX), or SpaceX, is having a huge week following the biggest IPO in history. The company raised a record $85.7 billion when it went public on June 12 and debuted with a market capitalization of more than $2 trillion.

And it's just been going up from there. SpaceX has now overtaken Amazon in market cap, with a market cap approaching $3 trillion. Currently, SpaceX has the fifth-largest market cap among all publicly traded companies.

One of the reasons SpaceX is flying so high is the tremendous market opportunity -- in its prospectus, SpaceX says it "identified the largest actionable total addressable market (TAM) in human history," putting the figure at an incredible $28.5 trillion.

Let's break that number down even further. Of SpaceX's addressable TAM, the company believes $26.5 trillion of it, or 93% of the total TAM, is related to artificial intelligence (AI), which, in itself, has been the biggest catalyst in the stock market over the last several years. Even more specifically, the company sees a $22.7 trillion TAM for enterprise AI applications, including software that automates workflows, improves productivity, and helps workers make better decisions.

There are already some great companies working in the enterprise AI space, and they're making investors a lot of money. Let's look at two such firms that are proving SpaceX's point that enterprise AI is one of the biggest opportunities in the stock market today.

Image source: Getty Images.

1. Palantir Technologies

Palantir Technologies (NASDAQ: PLTR) has been one of my favorite AI stocks for a long time, and that's because its AI-powered software is both incredibly powerful and incredibly hard to replicate.

Palantir is perhaps best known for its Artificial Intelligence Platform (AIP), which integrates with Palantir's software applications that are designed for government and commercial use. Palantir's unique software collects information from data points and uses AI to find patterns and actionable insights.

By incorporating AIP and large language models, Palantir makes it much easier to provide detailed, plain-language prompts to generate its insights. That's made the company's software a must-have for many agencies, including the U.S. military, which is designating Palantir's Maven Smart System as an "official program of record" to streamline its use across all its branches.

Revenue in the first quarter was $1.63 billion, up 85% from a year ago. U.S. commercial revenue increased 133% from a year ago to $595 million, and U.S. government revenue rose 84% to $687 million.

Although Palantir's stock is down 26% this year, the company's revenue continues to grow rapidly. Palantir had $4.47 billion in revenue in 2025; that's expected to jump to $7.72 billion this year and $11.2 billion in 2027. Net income was $870 million, for a profit margin of 53%.

2. Microsoft

Microsoft (NASDAQ: MSFT) offers AI tools already used by millions of users. The company has long had a popular suite of enterprise software tools in Microsoft 365 -- Word, PowerPoint, Excel, Outlook, and OneNote among them. More than 1 million companies in the U.S. use Microsoft 365 for everyday business, including word processing, email, and formal presentations.

Microsoft introduced Copilot in 2023 as an everyday AI companion, incorporating AI to let people complete tasks faster and more efficiently. Copilot works across a variety of Microsoft products, including Windows, the Edge browser, Bing, and applications such as Outlook and Notepad.

CEO Satya Nadella said the most recent quarter was a record for Microsoft 365 Copilot seat additions, up 250% year over year, adding:

We have seen a surge in usage of our first-party agents, with monthly active usage up 6x year to date. Copilot queries per user were up nearly 20% quarter over quarter. To put this momentum in perspective, weekly engagement is now at the same level as Outlook as more and more users make Copilot a habit.

Revenue in the fiscal third quarter of 2026 (ending March 31) was $82.9 billion, up 18% from a year ago. Net income was $31.8 billion, up 20% from the previous year.

Enterprise AI is huge -- and is just getting bigger

SpaceX is the newest stock entering the enterprise AI game, but there are plenty of ways to invest in this opportunity without getting caught up in the SpaceX hype. Palantir and Microsoft offer tried-and-true ways to profit from enterprise AI, and both companies are showing impressive results.

Patrick Sanders has positions in Palantir Technologies. The Motley Fool has positions in and recommends Amazon, Microsoft, and Palantir Technologies. The Motley Fool has a disclosure policy.