SpaceX Seeks to Raise $750 Million at $137 Billion Valuation

Elon Musk’s SpaceX is seeking to raise $750 million in a new funding round, which would value the rocket and satellite company at $137 billion, according to a report from CNBC.

Previously, it had been reported that SpaceX was in discussions over an offering primarily consisting of secondary shares, which could raise the company’s valuation to as much as $150 billion, reflecting a 20% increase.

SpaceX, which has prominent investors including Alphabet Inc and Fidelity Investments, secured approximately $1.68 billion in equity financing in June.

Representatives from SpaceX and Andreessen Horowitz did not respond to requests for comment. Horowitz was also a co-investor in Musk’s $44 billion acquisition of Twitter.

The company has successfully launched multiple cargo payloads and astronauts to the International Space Station for NASA.

Additionally, SpaceX’s Starlink, a burgeoning network of thousands of internet satellites, is poised to generate significant revenue through commercial applications, including the provision of high-speed internet on commercial airlines.

SpaceX competes with Blue Origin, founded by Amazon’s Jeff Bezos, and Virgin Galactic, led by billionaire Richard Branson.