24/7 Wall Street
05 Jun 2026, 11:33 UTC · 2h ago
Famous Wall Street Futurist Says ‘Starlink Alone' Justifies SpaceX's $2 Trillion Valuation at IPO. Here's His Math.
24/7 Wall Street
05 Jun 2026, 11:33 UTC · 2h ago
Story key points
5 claims · impact-rated
SpaceX is preparing for an IPO with a headline valuation of approximately $1.75 trillion and a target to raise $75 billion. — The scale of the offering is historic and creates a massive new benchmark for private-to-public tech valuations.
+0.60Starlink subscribers grew 105% year-over-year to 10.3 million as of March 31, 2026. — Strong, verifiable user growth provides a fundamental basis for the company's high valuation regardless of speculative AI claims.
+0.50Goldman Sachs projects SpaceX's AI division revenues will grow from $3.2 billion today to $322 billion by 2030. — While highly speculative, this projection drives the aggressive IPO pricing and represents a massive potential new market for orbital compute.
+0.40Continue reading
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Morningstar has issued a fair value estimate of $780 billion, significantly lower than the $1.75 trillion IPO valuation. — A substantial gap between analyst fair value and IPO pricing suggests potential overvaluation and downside risk for initial investors.
-0.30Starlink subscriber ARPU (Average Revenue Per User) declined by 22.9% in Q1 2026. — Decreasing ARPU indicates pricing pressure or a shift in customer mix, which could dampen long-term margin expansion.
-0.20Ticker attribution
Model heads
Acting as lead underwriter and projecting aggressive revenue growth for a high-profile client.
Leading the roadshow for a massive IPO, indicating significant business activity and fee generation.
Mentioned in a positive context regarding a successful historical stock call by an analyst.
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