Morgan Stanley forecasts SpaceX total revenue of $3.4 trillion in 2040 and $330 billion in 2030, with the AI segment projected at $190 billion by 2030. SpaceX reported $18.67 billion in revenue and a $4.94 billion net loss for 2025, up from $14.02 billion revenue and $791 million profit in 2024. The company began its IPO roadshow seeking $75 billion, led by Morgan Stanley, Goldman Sachs, BofA Securities, Citigroup, and J.P. Morgan.