Goldman Sachs President John Waldron used SpaceX’s blockbuster public debut as his exhibit A on June 12, 2026. His argument: the capital markets aren’t just willing to fund AI infrastructure, they’re practically tripping over themselves to do it.
It’s hard to argue with the evidence. SpaceX is targeting a valuation of $1.75 to $1.8 trillion and aims to raise roughly $75 billion in what would be one of the largest IPOs in history. Goldman Sachs is leading the underwriting syndicate, joined by Morgan Stanley and JPMorgan, so Waldron has a front-row seat to the investor frenzy.
The numbers behind the hype
Goldman Sachs has shared some eye-popping revenue projections with potential investors during the IPO roadshow. The bank forecasts SpaceX’s AI revenue will climb from $3.2 billion in 2025 to $322 billion by 2030. That’s not a typo. That’s a nearly 100-fold increase in five years.
The intermediate milestones look equally aggressive: $15.6 billion projected for 2026 and $34.5 billion for 2027. For context, that 2027 figure alone would place SpaceX’s AI business among the largest enterprise software companies on the planet today.
