Space Exploration Technologies Corp., or SpaceX, is in talks with investors to raise new funding, according to Business Insider.
What happenedThe Elon Musk-led aerospace company is aiming for a $ 92 billion valuation in the funding round, which it plans to close before January, Bloomberg reported quoting Business Insider.
SpaceX last raised $ 1.9 billion in mid-August with an enterprise valuation of $ 46 billion. Fidelity Investments would be one of the main investors in the funding round.
Bloomberg noted that convincing investors of the two-fold increase in value within the space of four months could be a daunting task.
Why does it matter?: In the past month, SpaceX has hosted two remarkable events.
The first was a successful manned mission to the International Space Station that docked on November 16. The latest attempt was the high-altitude test flight of the Starship SN8 passenger transport prototype.
Two more SpaceX shuttles are in development and could fly sometime next year.
By the end of September, SpaceX signed a contract with NASA for the space mission Interstellar Mapping and Acceleration Probe (IMAP). Earlier this year, NASA also announced that SpaceX was one of the selected candidates for the 2024 moon landing under the Artemis space program.
Morgan Stanley said in October that SpaceX was worth about $ 100 billion, as reported by Forbes.
SpaceX and Tesla Inc. (NASDAQ: TSLA) Combined valuation exceeded $ 500 billion in November, an event Musk described as “wild times.”
Also see: No Starlink spin-off or IPO in the works, Musk says
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