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Morgan Stanley cut its SpaceX borrowing forecast to $390 billion; KeyBanc sees $475 billion of capex
Morgan Stanley pulled SpaceX's cash-flow break-even forward four years to 2031 and cut its borrowing forecast by $280 billion. KeyBanc counts $475 billion of capital still needed through 2028, and a Democratic sweep just put the buildout's demand side in doubt.
· 3 min read
