A Wall Street investment bank is projecting explosive growth for SpaceX’s artificial intelligence operations, forecasting revenues could climb to $322 billion by 2030 from an anticipated $3.2 billion in 2025, according to a Thursday report from the Financial Times.
The same financial institution estimates SpaceX’s overall revenue will jump to $474 billion in 2030, compared to $18.7 billion recorded last year, the report stated.
The bank’s analysis suggests the AI segment could see revenue climb 388% year-over-year to $15.6 billion in 2026, then reach $34.5 billion by 2027, citing an individual with knowledge of the projections.
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 J.P. 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.
