Prediction: This Will Be SpaceX's Stock Price by the End of 2029

SpaceX (NASDAQ: SPCX) has quickly established itself as one of the most exciting stocks in the market. Given the company's growth, I think the stock could generate around $2 trillion in revenue by 2030 and end 2029 with a stock price of $570.

Here's how it would get there.

Looking to disrupt markets

SpaceX is focused on the future, and it is pursuing some promising new markets, including orbital data centers, asteroid mining, and Earth-to-Earth cargo transport using suborbital rockets. The road to success in these areas will come down to the company being able to reliably recapture and reuse both stages of its Starship rockets after each launch. If it can pull off this feat, that will set the stage for it to pursue these loftier goals and accelerate its launch cadence.

The company's goal is for the Starship rocket -- a much larger platform than its current Falcon rockets -- to begin flying weekly in the first half of next year, and potentially twice a week starting in the second half of the year. If SpaceX can quickly recover, refurbish, and fully reuse its Starship rockets, it will be able to greatly increase the mass of the payloads it can carry and its number of revenue-generating launches, drastically altering space economics and leading to strong revenue growth in the coming years.

SpaceX is also eyeing disruption of some current industries, like the U.S. mobile phone market. The Starlink satellite broadband business will continue to be a nice revenue driver in the coming years as SpaceX continues to add new commercial, enterprise, and government customers. However, building out a full terrestrial cellphone network would likely take four to six years, so this is more of a medium-term opportunity.

Another growth driver will be AI coding, thanks to SpaceX's recent acquisition of Cursor. Cursor is essentially a workflow interface that can use both its own and third-party AI models to help users write, edit, debug, and review code. Morgan Stanley projects that as a part of SpaceX, Cursor's annual recurring revenue (ARR) will climb from $8 billion at the end of 2026 to roughly $33 billion by the end of 2030.

A $2 trillion opportunity

SpaceX's biggest growth opportunity, however, is likely to come from artificial intelligence (AI) infrastructure. The company is poised to become the largest neocloud on the planet, and has set some extremely aggressive goals for itself.

The company will end this year with up to 3 gigawatts of compute capacity, and plans to add around 10 gigawatts more in 2027. Meanwhile, CEO Elon Musk has said his moonshot goal is to bring on 20 gigawatts of additional capacity next year.

SpaceX is currently getting great rates on the compute power it's leasing out, with a payback period of around one year. With a gigawatt of computing power built on Nvidia's Vera Rubin platform costing around $50 billion, that implies the company is getting at least that much in revenue per gigawatt per year. This also lines up with Musk saying SpaceX could end 2027 with annual recurring revenue (ARR) of between $500 billion and $1 trillion.

If SpaceX were to add 10 gigawatts of new compute capacity each year, its "super intelligence" segment (formerly known as its AI segment) would end 2030 with annual recurring revenue of more than $2 trillion. However, it would need to raise capital to fund its capex spending, which I assume will start with 10% dilution and go down 1% a year thereafter. Actual results would vary based on its cost, capex needs, and share price.

Below is a potential scenario as to what SpaceX's AI build-out could potentially look like.

Metric	2026	2027	2028	2029	2030
Compute capacity	3 GW	13 GW	23 GW	33 GW	43 GW
AI infrastructure ARR	$150 billion	$650 billion	$1.15 trillion	$1.65 trillion	$2.15 trillion
Shares	13.6 billion	15 billion	16.3 billion	17.6 billion	18.8 billion

Figures based on aggressive assumptions by author.

Between its AI infrastructure business and the growth of Starlink, Cursor, and its rocket launch business, SpaceX could generate $2 trillion in revenue in 2030. If you speculate that the market will value the company at a forward price-to-sales (P/S) ratio of 5 -- a multiple at which Musk's other public company, Tesla, has often traded -- the stock would be worth around $570 by the end of 2029. That would be a more than 300% increase in the stock's price in three years.

The biggest risk to the company hitting this revenue target, meanwhile, would be if compute rental prices fell as it brought more capacity online.

Geoffrey Seiler has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.