SpaceX IPO: Analysts predict $1T revenue by 2031

SpaceX is preparing for its monumental IPO, with analysts from Evercore and Goldman Sachs providing forecasts that contribute to its projected $1.75 trillion valuation. Analysts at Evercore predict SpaceX's AI division could achieve an astonishing $755 billion in sales by 2031, a dramatic increase from its reported $3.2 billion in 2025. This AI surge is expected to make up over 74% of SpaceX's total revenue by 2031, a significant shift from its space business, which is projected to contribute less than 1%.

Consolidated revenue for SpaceX is also forecast to reach $1 trillion by 2031, a substantial leap from the $18.7 billion reported in 2025. Goldman Sachs offers a slightly more conservative outlook, projecting total revenue of $474 billion by 2030, with the AI division reaching $322 billion. Both research firms anticipate a massive increase in capital expenditures, potentially soaring to $360 billion by 2030 and doubling to $732 billion in 2031, with the majority allocated to AI spending. Goldman Sachs also forecasts a significant operating cash flow deficit of $105 billion in 2029, followed by a positive $72 billion by 2031.