SpaceX Targets $322B AI Revenue in Goldman IPO Pitch

TLDR

• Goldman Sachs projects that SpaceX will generate $322 billion in annual AI revenue by 2030.
• The bank expects AI revenue to rise from $3.2 billion in 2025 to $15.6 billion in 2026.
• SpaceX reportedly holds 18,712 BTC acquired at an average price of about $35,000 per token.
• Crypto exchanges have launched USDC and USDT-settled perpetual contracts tied to SpaceX under the SPCX ticker.
• Goldman is serving as lead-left bookrunner for the IPO targeting a $1.78 trillion valuation.

Goldman Sachs projects that SpaceX will generate $322 billion in annual AI revenue by 2030. The bank disclosed the forecast on June 4 ahead of SpaceX’s expected Nasdaq listing. Goldman serves as lead-left bookrunner for the IPO targeting a $1.78 trillion valuation.

Goldman Forecasts Rapid AI Revenue Growth

Goldman outlined a steep revenue path for the company’s AI division over five years. The bank expects AI revenue to rise from $3.2 billion in 2025 to $15.6 billion in 2026. It then projects $34.5 billion in 2027 before reaching $322 billion by 2030.

The bank positions the AI division as the core growth engine within SpaceX. It forecasts total company revenue to increase from $18.7 billion last year to $474 billion by 2030. If achieved, AI would account for about 68% of total revenue.

Goldman links this outlook to the company’s satellite infrastructure strategy. It argues that the Starlink constellation supports global data processing and distribution tasks. The bank states that orbital infrastructure could handle edge computing and remote inference workloads.

Bitcoin Holdings and Pre-IPO Trading Activity

SpaceX reportedly holds 18,712 BTC acquired at roughly $35,000 per token. At that purchase price, the company spent about $655 million on Bitcoin. Current market prices place the value of that holding above its original cost.

Crypto exchanges have launched USDC and USDT-settled perpetual contracts under the SPCX ticker. These instruments allow traders to gain price exposure before shares list on the Nasdaq. The contracts track expected equity performance tied to the upcoming IPO.

Goldman’s role as lead underwriter ties its fees to capital raised. The bank disclosed its projections while marketing the offering to potential investors. Prediction markets and derivatives pricing indicate strong confidence in the company’s market debut.

The projected AI revenue ramp assumes two orders of magnitude growth within five years. Goldman identified $15.6 billion in 2026 and $34.5 billion in 2027 as early checkpoints. Those interim targets will test the bank’s growth assumptions as the IPO approaches.

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