Goldman Sachs is betting that SpaceX’s AI division will become the company’s most valuable business line, projecting revenue growth from $3.2 billion in 2025 to $322 billion by 2030. That’s a 100x increase in five years.
The projections are part of Goldman’s materials ahead of SpaceX’s anticipated IPO, where the bank is serving as lead underwriter. The target valuation sits at roughly $1.78 trillion.
AI eats the rocket business
By 2030, Goldman expects the AI division to contribute $322 billion of the company’s projected $474 billion in total revenue. That’s roughly 68% of all revenue coming from AI, not rockets, not satellite internet.
Starlink is projected to generate $144 billion by 2030. The core rocket business is projected at a comparatively modest $8.3 billion, representing less than 2% of total company revenue if these forecasts pan out.
