Goldman Sachs expects SpaceX’s AI revenue to surge 100-fold by 2030

Goldman Sachs expects revenue from SpaceX’s AI division to surge to $322 billion by 2030, up from $3.2 ​billion in 2025, according to the Wall Street bank’s ‌forecasts shared with a potential investor.

The investment bank has estimated SpaceX’s total revenue to reach $474 billion in 2030 from $18.7 billion ​last year, the report added.

Goldman has forecast revenue at SpaceX’s AI ​segment to soar 388% from a year earlier to $15.6 ⁠billion in 2026, and reach $34.5 billion in 2027, according to the ​report, citing a person familiar with the matter.

Goldman Sachs did not ​immediately respond to a Reuters request for comment. Reuters could not independently confirm the report.

The investment bank is serving as lead underwriter of the offering. Other ​underwriters for SpaceX’s massive share sale include Morgan Stanley, BofA Securities, ​Citigroup and JP Morgan.

Elon Musk’s company aims to raise $75 billion, the most ever ‌for ⁠an IPO, with a valuation of $1.75 trillion, immediately placing it among the top 10 most valuable U.S.-listed firms.

The company publicly set a $135 price for shares in its IPO on Wednesday and kicked off ​its roadshow today, ​with pricing ⁠expected on June 11. Trading in shares will begin on the Nasdaq the next day.

Despite the lofty valuations, ​investors are expected to scramble to secure a ​position in ⁠the deal, drawn by Elon Musk’s track record.
However, Morningstar analysts pegged SpaceX’s valuation at $780 billion, less than half the company’s IPO target.

Prospects for the company’s ⁠AI ​business, which includes xAI and social ​media platform X, were uncertain given unclear economics and competition from OpenAI and Anthropic, according ​to Morningstar. Reuters