June 5 (Reuters) – Morgan Stanley is projecting that SpaceX’s revenue could reach $3.4 trillion in 2040, ‌the Wall Street Journal reported on Friday, citing ‌people familiar with the matter.

The Wall Street giant is anticipating that ​revenue from SpaceX’s AI business will dramatically grow in the coming years, the report said.

Elon Musk’s SpaceX began meeting with investors on Thursday in its IPO ‌roadshow. The rocket ⁠and satellite maker is aiming to raise $75 billion, in what would be the biggest ⁠IPO ever.

Morgan Stanley projects SpaceX’s AI business will contribute around $190 billion in revenue in 2030, while total revenue ​is expected ​to be near $330 billion ​that year, the WSJ ‌report said.

In 2025, SpaceX’s revenue jumped to $18.67 billion from $14.02 billion a year earlier, but the company swung to a net loss of $4.94 billion from a profit of $791 million.

SpaceX’s AI segment raked in $3.2 billion in ‌revenue in 2025.

Meanwhile, Goldman Sachs is ​expecting revenue from SpaceX’s AI ​division to surge ​to $322 billion by 2030, the Financial ‌Times reported on Thursday.

Morgan Stanley ​is among the ​lead underwriters for SpaceX’s IPO, besides Goldman Sachs, BofA Securities, Citigroup and J.P. Morgan.

A spokesperson for ​Morgan Stanley ‌declined to comment. Reuters could not independently verify ​the report.

https://finance.yahoo.com/markets/stocks/articles/morgan-stanley-expects-spacex-revenue-121652635.html?shem=rimspwouoe,