SpaceX’s pitch to achieve a $1.78tn valuation in its initial public offering hinges on revenues at its AI unit surging by around 100 times by 2030, according to projections made by its lead investment bank Goldman Sachs.
Goldman expects revenues from SpaceX’s AI division to rise to $322bn by 2030 from $3.2bn in 2025, according to forecasts discussed by the Wall Street bank with a potential investor in the deal. SpaceX’s total revenue is expected to reach $474bn in 2030 from $18.7bn last year.
The bank’s lofty projections underscore the aggressive bets underpinning the AI investment boom by Big Tech firms that has propelled the US stock market to a series of record highs. Goldman’s model was verbally shared with the investor as SpaceX kicks off its IPO roadshow, in which bankers will seek to sell money managers on a deal that could raise up to $86bn.