Cathie Wood: "SpaceX (SPCX) $1.75 Trillion Is Still a Bargain"...Condition: 'Starship'

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Cathie Wood asserted that even SpaceX's (SPCX) $1.75 trillion IPO price could appear to be a “bargain” if Starship grows as planned.

According to BeInCrypto on September 16 (local time), Ark Invest founder Cathie Wood stated that a single Starship launch could generate up to $1 billion in revenue. Given Elon Musk's goal of 10,000 flights per year by 2030, a simple application of this would mean Starship's revenue could reach $10 trillion annually. Wood said, “If the goal is realized, SpaceX's $1.75 trillion IPO will later be evaluated as an incredibly cheap opportunity.”

The starting point of the calculation is Starlink. According to Ark Invest's analysis, Starlink generates approximately $19 million in connection revenue per year per terabit per second of network capacity. The logic is that one Starship can carry approximately 61 Tbps of capacity, adding about $1 billion in recurring revenue when fully loaded. However, this calculation assumes that all 10,000 annual flights carry Starlink capacity.

There are also many variables in the profitability assumption. Starlink's revenue per terabit per second increased from $21 million in 2023 to $23 million in 2024, then decreased to $19 million in 2025. Ark Invest anticipates that this metric will decline as network capacity expands. BeInCrypto also pointed out that Starship's target of 10,000 annual flights differs significantly from its current operational performance.

The actual number of launches is still far from the target. Falcon 9 was launched 165 times last year, but Starship has only flown twice since its listing in June. Both flights remained at suborbital levels, and the V3 satellite deployed in July re-entered the atmosphere and disintegrated in about 20 minutes. The next mission will attempt to enter Earth orbit for the first time, carrying 26 operational V3 satellites. If successful, it will be Starship's first flight to generate commercial revenue.

SpaceX was listed at $135 per share in June, closing at $161 on its first trading day, but has since traded below its IPO price for several weeks. Wood's $10 trillion revenue forecast depends on the premise that Starship flies 10,000 times a year and each flight monetizes Starlink capacity. BeInCrypto assessed that the assertion of a $1.75 trillion valuation being a “bargain” depends on whether Starship achieves its long-term goals, given that it has not yet reached that launch frequency.

[Key Summary of the Article]

-Cathie Wood claimed that a single Starship launch could generate approximately $1 billion in recurring revenue.

-Applying the target of 10,000 annual flights, Starship's revenue is calculated to be $10 trillion, suggesting that SpaceX's $1.75 trillion IPO price could become cheap.

-However, Starship has only flown twice since its listing in June, and Starlink revenue per terabit per second also decreased to $19 million in 2025.

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