Racial capitalism has received much attention within the social sciences over the past few decades, including fields such as urban geography and infrastructural studies. This state of the field identifies key contributions, highlights the latest developments, draws attention to limitations, and points to future directions. Given the concept's multiple iterations and lineages beyond Cedric Robinson's framework, there is a risk racial capitalism might become an empty signifier if more work is not done by scholars to define their points of departure, clarify the concept's theoretical reach, and expand empirical contributions beyond the U.S. heartland. To advance the racial capitalism body of work, current scholarship suggests theoretical conversations with postcolonial theory, decolonial thought, Indigenous studies, and feminist approaches. There is also a need to engage not only with other variants of racial capitalism, but also with earlier scholarship that investigates the interplay between race/racialization and space.