Cathie Wood, founder of ARK Invest, suggests that the SpaceX IPO valuation of $1,75 trillion may be undervalued. Her projection relies on the assumption that SpaceX will achieve a cadence of 10 000 Starship flights per year by 2030, potentially generating $10 trillion in annual revenue.
The calculation is based on Starlink connectivity revenue, estimated at $19 million per year for every terabit per second of network capacity. Since one Starship can carry approximately 61 terabits per second, a single fully loaded launch could theoretically contribute $1 billion in recurring revenue.
However, data indicates a decline in revenue per terabit per second, which fell from $23 million in 2024 to $19 million in 2025. Furthermore, the current launch frequency remains far from the target; the Falcon 9 completed 165 flights last year, while Starship has conducted only two suborbital tests since the June listing.
The company's stock, which debuted at $135 in June and closed its first session at $161, has recently traded below its initial offering price. Despite these challenges, ARK Invest continues to increase its position in the company, while other analysts suggest a potential valuation of $100 trillion within two decades.
