Morgan Stanley projects massive $3.4T SpaceX revenue by 2040
Elon Musk’s SpaceX is eyeing an astronomical financial future as it kicks off its historic IPO roadshow. According to a Wall Street Journal report citing sources familiar with the matter, Morgan Stanley projects that SpaceX’s annual revenue could skyrocket to a staggering $3.4 trillion by 2040.
The primary catalyst behind this jaw-dropping forecast? Artificial intelligence. Wall Street analysts expect SpaceX's emerging AI business to grow exponentially over the next decade and a half, News.Az reports, citing Reuters.
The bullish outlook comes just as the rocket and satellite manufacturer begins meeting with investors to raise $75 billion, aiming for what would be the largest initial public offering (IPO) in history. Morgan Stanley and Goldman Sachs are among the lead underwriters guiding the massive market debut.
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While SpaceX is traditionally known for its Falcon rockets and Starlink satellite internet, its AI division is quickly becoming the crown jewel for forecasters.
2025 Performance: SpaceX's AI segment brought in $3.2 billion in revenue in 2025, contributing to a total company revenue of $18.67 billion (up from $14.02 billion the previous year). Despite the revenue surge, heavy investments caused the company to swing to a net loss of $4.94 billion.
The 2030 Outlook: Morgan Stanley estimates that by 2030, SpaceX's total revenue will near $330 billion, with the AI business accounting for roughly $190 billion of that total.
Goldman Sachs is Even More Bullish: Competitor Goldman Sachs sees an even faster trajectory for the tech, predicting SpaceX’s AI division alone could bring in $322 billion by 2030, according to a recent Financial Times report.
Morgan Stanley has declined to comment on the leaked projections, and the figures have not been independently verified. However, if these Wall Street estimates hold true, SpaceX's pivot into AI infrastructure could position it as one of the most valuable corporate entities on Earth by 2040.
By Aysel Mammadzada
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