Goldman Sachs: SpaceX's AI division revenue is estimated to surge 100-fold in five years

According to the Financial Times, Goldman Sachs estimates that a core assumption supporting SpaceX's IPO valuation of approximately $1.78 trillion is that its artificial intelligence division's revenue will grow about 100-fold from $3.2 billion in 2025 to $322 billion by 2030. Meanwhile, SpaceX's total revenue is expected to rise from $18.7 billion to $474 billion during the same period. The prospectus shows that xAI recorded a loss of $6.4 billion in 2025. Goldman Sachs also expects the AI division's revenue to grow 388% year-on-year to $15.6 billion in 2026 and reach $34.5 billion in 2027. Starlink and rocket business revenues are projected to reach $144 billion and $8.3 billion, respectively, by 2030.