June 5 (Reuters) - Morgan Stanley ( MS ) 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 ( MS ) 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 ( GS ) is expecting revenue from

SpaceX's AI division to surge to $322 billion by 2030, the

Financial Times reported on Thursday.

Morgan Stanley ( MS ) is among the lead underwriters for SpaceX's

IPO, besides Goldman Sachs ( GS ), BofA Securities, ​Citigroup and J.P.

Morgan.

A spokesperson for Morgan Stanley ( MS ) did not immediately

respond to Reuters' request for comment. Reuters could not

independently verify the report.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by

Shinjini Ganguli)