SpaceX’s Revenue Could Match Nvidia’s Three-Year Growth Trajectory, According to Sequoia Partner

SpaceX's financial model through 2028 has been made public, with Sequoia Capital partner Shaun Maguire stating on X on October 30 that, absent major disruption, the company's revenue growth over the next three years could rival Nvidia's ($NVDA) growth over the past three years. Maguire, who built the model himself following a SpaceX earnings release, cited Starship, AI computing, and direct-to-cell satellite communications as the key growth drivers. He disclosed that Sequoia holds a substantial SpaceX stake, acknowledging potential bias in his analysis. The projection matters because it positions SpaceX—privately held and a major Sequoia holding—as a potential revenue-growth comparable to the chipmaker that has become the market's benchmark for AI-driven expansion. Investors should watch for further detail on the model's assumptions, SpaceX's Starship test cadence, and monetization progress in its AI computing and satellite-to-phone businesses.