Goldman Sees SpaceX AI Revenue Hitting $322 Billion by 2030 as IPO Targets $1.78 Trillion Value
Updated
Updated · Financial Times · Jun 4
Goldman Sees SpaceX AI Revenue Hitting $322 Billion by 2030 as IPO Targets $1.78 Trillion Value
3 articles · Updated · Financial Times · Jun 4
Summary
$322 billion in AI revenue by 2030 is the centerpiece of Goldman Sachs' pitch for SpaceX's IPO, implying roughly 100-fold growth from $3.2 billion in 2025.
That forecast underpins a proposed $1.78 trillion valuation and an offering that could raise up to $86 billion as the company starts its roadshow with investors.
Goldman projects SpaceX's total revenue reaching $474 billion in 2030, with AI far outpacing Starlink at $144 billion and rockets at $8.3 billion.
The model assumes the AI unit can overcome a $6.4 billion 2025 loss, weak Grok adoption and management turmoil, including the exit of all 10 co-founders within two years.
Those assumptions highlight how aggressively bankers are valuing AI businesses as SpaceX aims to swing from negative free cash flow of $13.8 billion last year to positive $72 billion in 2031.