Since going public about a month ago, SpaceX's stock price has experienced a rollercoaster ride. Although it once soared to $225, it later fell back to around $125. However, Adam Jonas, an analyst at Morgan Stanley who has been tracking SpaceX for the long term, has set a benchmark target price of $300 per share for the stock. This target implies significant upside potential, more than double the current stock price. Such an ambitious target price hinges on SpaceX being much more than just a space stock; it essentially bets on a vertical integration strategy. Morgan Stanley expects SpaceX to grow at an astonishing rate in the foreseeable future. The research assumes that SpaceX's revenue will increase from $18.7 billion in 2025 to $319 billion in 2030, and then to $33 trillion by 2040. Most of this growth is expected to come from the artificial intelligence sector, with Morgan Stanley anticipating that SpaceX will build orbital infrastructure for global connectivity and AI. Elon Musk agrees with this vision. The company's S-1 filing estimates the potential market size at approximately $28.5 trillion, with all but $2 trillion related to AI. SpaceX plans to launch a large AI satellite constellation named 'Starmind,' essentially building data centers in orbit. The company hopes to launch its first AI satellites as early as next year using the 'Starship' rocket.