Overview

• The fundraising round pairs a small primary share issuance with a concurrent secondary sale of employee and early investor holdings.
• At an estimated $400 billion valuation, SpaceX would surpass its previous $350 billion mark to become the most valuable private U.S. company.
• Starlink’s rapid expansion, now generating over half of SpaceX’s annual revenue, is a key driver of investor interest.
• Advances in the Starship rocket program bolster the valuation despite a test-stand explosion in Texas in June.
• Elon Musk has framed the transaction as a liquidity event rather than a capital necessity, emphasizing SpaceX’s self-sufficiency.