Goldman Sachs has released ambitious forecasts for SpaceX's artificial intelligence division, projecting a dramatic revenue surge over the next decade. According to reports from The Financial Times, the investment bank expects revenue from SpaceX's AI segment to reach $322 billion by 2030, representing a massive increase from $3.2 billion in 2025. This projection shows a potential 100-fold increase in AI-related revenue over the forecast period, with compute-as-a-service offerings expected to drive the majority of this growth. The investment bank's forecasts indicate strong growth momentum in the immediate term as well, with revenue at SpaceX's AI segment to soar 388% from a year earlier to $15.6 billion in 2026, followed by a further increase to $34.5 billion in 2027. Goldman expects another acceleration thereafter, with revenue rising more than ninefold between 2028 and 2030.
Beyond the AI segment, Goldman Sachs estimates SpaceX's total revenue will reach $474 billion in 2030, compared to $18.7 billion last year. According to The Financial Times, this forecast reflects the bank's comprehensive view of Elon Musk's company's growth potential across all business segments. The projections indicate that the rocket division's revenue growth could be relatively slower than that of SpaceX's other businesses, with the rocket division's revenue expected to reach $8.3 billion by 2030, from $4.1 billion in 2025. Revenue from SpaceX's Starlink satellite internet service is expected to reach $144 billion by 2030, making it the company's second-largest business unit in terms of topline. Goldman forecasts SpaceX's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to soar over 52-fold to $352 billion by 2030, from $6.6 billion in 2025. The operational backdrop includes roughly 1.3 billion accounts active in the trailing 12 months ended March and roughly 550 million monthly active AI users across Grok and X.
The forecasts come as SpaceX prepares for a significant public offering, with the company aiming to raise $75 billion, the most ever for an IPO, with a valuation of $1.75 trillion. This would immediately place the company among the top 10 most valuable U.S.-listed firms. The company disclosed the pricing terms for its IPO in a filing with the U.S. Securities and Exchange Commission (SEC) on Wednesday, saying it plans to raise $75 billion by offering 555.55 million shares at $135 each. Musk is expected to hold approximately 82.4% of the voting power once SpaceX debuts on the Nasdaq. The massive valuation reflects investor confidence in SpaceX's AI capabilities, satellite business, and rocket manufacturing operations across the company's diversified portfolio. The aerospace giant has undertaken about 650 launches so far, with more than 95% missions reusing a booster in 2025, and SpaceX also has over 9,600 Starlink satellites, covering 164 countries and reaching about 10.3 million subscribers.
The SpaceX IPO roadshow is currently underway, with the company planning a NASDAQ listing under ticker SPCX as early as June 12, with pricing set at $135 per share on June 3. Prediction markets indicate strong investor conviction, with Polymarket currently pricing a 98% probability of an IPO by June 30, up from 95% on May 29. However, market strategists are raising concerns about the timing of these massive AI-related IPOs. Jefferies' Christopher Wood warns that the rush of mega listings led by SpaceX could signal the absolute top of the AI-driven bull run. He points to the upcoming IPOs of SpaceX, Anthropic, and OpenAI as likely turning points for a market riding high on artificial intelligence optimism. Wood highlights that Google's record $84.75 billion secondary offering may serve as another potential sign of peak euphoria, as the company strategically taps the market before these three giant IPOs arrive. Additionally, he argues that these massive incoming IPOs will suck liquidity away from existing AI-linked stocks, specifically the hyperscalers and hardware suppliers that have seen the most inflows lately.
