SpaceX AI Revenue To Surge 100 Times By 2030

Catenaa, Thursday, June 04, 2026- SpaceX’s pitch to achieve a $1.78 trillion valuation in its IPO hinges on revenues at its AI unit surging by around 100 times by 2030, according to projections made by Goldman Sachs. 

Goldman expects revenues from SpaceX’s AI division to rise to $322 billion by 2030 from $3.2 billion 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 $474 billion in 2030 from $18.7 billion last year. The bank’s lofty projections underscore the aggressive bets underpinning the AI investment boom by Big Tech firms that have 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 $86 billion. 

The valuation of Elon Musk’s rockets-to-chatbot group rests on an assumption that its AI division xAI,  which made a loss of $6.4 billion in 2025, has a total addressable market of $26.5 trillion, SpaceX’s IPO prospectus shows. 

That dwarfs the roughly $2 trillion total addressable market outlined for the group’s Starlink internet service and space operations.

Goldman’s projections show that the Wall Street bank expects revenues at SpaceX’s AI segment to rise 388% to $15.6 billion in 2026 compared with the year prior and reach $34.5 billion in 2027.

Goldman is expecting SpaceX’s revenue from its Starlink satellite internet service to be $144 billion in 2030, less than half of that generated by the AI unit. 

The bank forecasts SpaceX’s rocket division to generate $8.3 billion in revenue in 2030, up from $4.1 billion last year. 

The bank also forecasts that SpaceX’s overall adjusted earnings before interest, taxes, depreciation and amortisation will surge to $352 billion in 2030 from $6.6 billion in 2025. 

SpaceX generated negative free cash flow of $13.8 billion last year. Goldman expects the company to swing to positive free cash flow of $72 billion in 2031.

For the AI growth forecasts to be justified, SpaceX’s Grok family of models would have to catch up and surpass more advanced labs, including Anthropic, Google and OpenAI, in the critical fields of coding, cyber security, agents and chatbots. 

However, the unit formerly known as xAI has been hamstrung by constant upheaval. Musk pushed out all 10 of his co-founders within two years and has delivered subpar performance, leaving it with only a fraction of the consumer and corporate subscriptions needed to generate revenues. 

Musk has also rented out the Colossus 1 data centre to rival Anthropic as the 300-megawatt facility in Memphis, Tennessee, fell underutilised as Grok failed to gain traction. 

Goldman Sachs pipped rivals Morgan Stanley, JPMorgan, Citigroup, Bank of America and UBS to lead SpaceX’s IPO, which is expected to generate tens of millions of dollars in fees for the Wall Street banks.