The lead underwriting investment bank Goldman Sachs has released forecast data showing that for SpaceX to achieve a valuation of US$1.78 trillion at its initial public offering, the core driver will be a roughly 100-fold surge in revenue from its artificial intelligence (AI) segment by 2030.
The Wall Street bank disclosed its report during pitches to potential investors: SpaceX's AI business revenue is expected to skyrocket from US$3.2 billion in 2025 to US$322 billion in 2030; the company's total revenue is projected to rise from US$18.7 billion last year to US$474 billion in 2030.
Goldman Sachs' aggressive forecast reflects the current investment frenzy in which tech giants are making massive bets on artificial intelligence. This wave has also pushed US stocks to hit record highs repeatedly. As SpaceX officially kicks off its IPO roadshow, the bank has verbally shared this earnings projection model with asset management institutions, with the IPO's fundraising cap potentially reaching US$86 billion.
Sources familiar with the matter confirmed Goldman Sachs' revenue projections: SpaceX's AI segment revenue will grow 388% year-over-year in 2026 to US$15.6 billion, climbing further to US$34.5 billion in 2027.
Neither SpaceX nor Goldman Sachs responded to requests for comment.
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