June 4 (Reuters) – Goldman Sachs expects revenue from SpaceX’s AI division to surge to $322 billion by 2030, up from $3.2 billion in 2025, according to the Wall Street bank’s forecasts shared with a potential investor, the Financial Times reported on Thursday.
The investment bank has estimated SpaceX’s total revenue to reach $474 billion in 2030 from $18.7 billion last year, the report added.
Goldman has forecast revenue at SpaceX’s AI segment to soar 388% from a year earlier to $15.6 billion in 2026, and reach $34.5 billion in 2027, according to the report, citing a person familiar with the matter.
Goldman Sachs did not immediately respond to a Reuters request for comment. Reuters could not independently confirm the report.
The investment bank is serving as lead underwriter of the offering. Other underwriters for SpaceX’s massive share sale include Morgan Stanley, BofA Securities, Citigroup and J.P. Morgan.
Elon Musk’s company aims to raise $75 billion, the most ever for an IPO, with a valuation of $1.75 trillion, immediately placing it among the top 10 most valuable U.S.-listed firms.
The company publicly set a $135 price for shares in its IPO on Wednesday and kicked off its roadshow today, with pricing expected on June 11. Trading in shares will begin on the Nasdaq the next day.
Despite the lofty valuations, investors are expected to scramble to secure a position in the deal, drawn by Elon Musk’s track record.
However, Morningstar analysts pegged SpaceX’s valuation at $780 billion, less than half the company’s IPO target.
Prospects for the company’s AI business, which includes xAI and social media platform X, were uncertain given unclear economics and competition from OpenAI and Anthropic, according to Morningstar.
(Reporting by Pritam Biswas in Bengaluru; Editing by Leroy Leo)