Overview
- SpaceX launched a high‑profile investor roadshow in early June that included a JPMorgan event where CEO Jamie Dimon interviewed Elon Musk by remote video.
- Underwriters led by Goldman Sachs and Morgan Stanley assembled a 21‑bank syndicate and have staged prominent marketing displays to support the offering.
- Banks shared multi‑decade forecasts that project trillions in future revenue driven largely by an AI unit and Starlink expansion, with Morgan Stanley projecting about $3.4 trillion in revenue by 2040.
- Preliminary investor interest stood at roughly $150 billion, about twice the planned $75 billion raise, but that figure is an early indication and final pricing and allocations will be decided next week.
- SpaceX's 2025 disclosures show $18.7 billion in revenue, a $4.9 billion loss, and $3.2 billion in AI revenue, highlighting the gap investors must accept between current results and the underwriters' long‑term projections.