Goldman Sachs Predicts Massive Growth for SpaceX AI Revenue by 2030
Goldman Sachs expects revenue from SpaceX’s artificial intelligence division to skyrocket over the next five years, according to projections shared with a potential investor and reported by the Financial Times.
The Wall Street bank forecasts that SpaceX’s AI-related revenue will climb from $3.2 billion in 2025 to an impressive $322 billion by 2030. This projection highlights the growing importance of artificial intelligence within Elon Musk’s business empire.
SpaceX Revenue Forecast Approaches Half a Trillion Dollars
Beyond its AI operations, Goldman Sachs estimates that SpaceX’s total annual revenue could reach $474 billion by 2030. For comparison, the company generated approximately $18.7 billion in revenue last year.
The report also revealed that Goldman expects SpaceX’s AI segment to grow rapidly in the near term. Revenue from the division is projected to surge 388% year-over-year to $15.6 billion in 2026 before increasing further to $34.5 billion in 2027.
Neither Goldman Sachs nor SpaceX immediately commented on the report, and the projections have not been independently verified.
Historic IPO Targets $75 Billion Raise
Goldman Sachs is acting as the lead underwriter for SpaceX’s highly anticipated initial public offering. Other major financial institutions involved in the deal include Morgan Stanley, BofA Securities, Citigroup, and J.P. Morgan.
The company is seeking to raise $75 billion through the offering, which would make it the largest IPO in history. SpaceX is targeting a valuation of $1.75 trillion, a figure that would immediately place it among the ten most valuable publicly traded companies in the United States.
SpaceX officially priced its IPO shares at $135 each on Wednesday and has begun its investor roadshow. Final pricing is expected on June 11, while trading on the Nasdaq is scheduled to begin the following day.
Investors Drawn by Elon Musk’s Track Record
Despite the ambitious valuation, market observers expect strong investor demand for the offering. Much of the enthusiasm is linked to Elon Musk’s history of building highly successful companies and creating substantial shareholder value.
However, not all analysts share the same level of optimism.
Morningstar Questions Valuation and AI Outlook
Analysts at Morningstar estimate SpaceX’s fair valuation at approximately $780 billion, which is less than half of the company’s targeted IPO valuation.
Morningstar also highlighted uncertainties surrounding the long-term prospects of SpaceX’s artificial intelligence business, which includes AI startup xAI and social media platform X. According to the firm, questions remain regarding the economics of the sector and the intense competition posed by major AI players such as OpenAI and Anthropic.
As a result, while Goldman Sachs sees enormous growth potential, some analysts remain cautious about whether SpaceX can achieve the ambitious targets currently being discussed ahead of its record-breaking public debut.
