Morgan Stanley Sees SpaceX Revenue Soaring to $3.4 Trillion by 2040
MS•Morgan Stanley projects SpaceX annual revenue growing from $18.7 billion in 2025 to $330 billion by 2030 and $3.4 trillion by 2040, with AI activities driving $190 billion in income by 2030. The bank, as a lead underwriter, is supporting SpaceX’s $75 billion IPO roadshow.
1. Revenue Projections
Morgan Stanley forecasts SpaceX’s revenue to climb from $18.67 billion in 2025 to $330 billion by 2030 and reach $3.4 trillion by 2040, marking a nearly 18,000% increase over 15 years.
2. AI Growth Driver
The bank expects AI-related activities to account for roughly $190 billion of revenue by 2030, up from $3.2 billion generated by SpaceX’s AI division in 2025.
3. IPO Roadshow Role
Morgan Stanley is one of the lead underwriters for the planned $75 billion SpaceX IPO, coordinating investor meetings and structuring the largest offering ever targeted.
4. Historical Performance
SpaceX reported revenue rising to $18.67 billion in 2025 from $14.02 billion in 2024, while posting a $4.94 billion net loss in 2025 after net income of $791 million the prior year.
