SpaceX's upcoming initial public offering is drawing significantly more investor orders than shares available, according to reports, as Elon Musk's rocket company prepares for what could be the largest IPO in history.

Morgan Stanley has issued bullish projections for the space company, forecasting that SpaceX revenue could reach $3.4 trillion by 2040. These projections were shared with top investors as banks work to justify the company's current $1.77 trillion valuation.

The IPO is expected to have widespread market impact beyond traditional investors. Due to recent rule changes by Nasdaq and other index providers, SpaceX shares will likely be included in major index funds, meaning the company will automatically become part of many Americans' retirement portfolios through their 401(k) accounts.

The strong investor interest reflects growing confidence in the commercial space industry, as SpaceX has established itself as a leader in satellite launches and space transportation services. The company's valuation has grown substantially in recent years as it has expanded its operations and secured major contracts with NASA and other organizations.

Meanwhile, the broader technology sector continues to see significant developments, with various AI and tech companies making strategic moves and raising capital to fund expansion plans. The SpaceX IPO represents one of the most anticipated public offerings in the space and technology sectors.