Analyst Questions SpaceX's $1.75 Trillion Valuation, Citing Need for 60-Fold Revenue Growth by 2035

According to Fortune, analyst David Trainer of New Constructs said on June 6 that SpaceX's estimated $1.75 trillion valuation would require the company to increase annual revenue to approximately $1.1 trillion by 2035, a roughly 60-fold increase from 2025's $18.7 billion. Based on a discounted cash flow model assuming a 10% annual return, Trainer calculated that SpaceX must achieve this growth rate to justify the valuation. Trainer noted that such expansion would be unprecedented, with no historical precedent among competitors including Alphabet, Microsoft, and Nvidia in their respective growth trajectories.
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