Overview

• SpaceX is in negotiations for a primary fundraising round selling new shares to select investors at a valuation near $400 billion.
• A concurrent secondary offering would enable employees and early backers to sell existing stakes at the same price set by the primary issuance.
• If finalized, the deal would surpass SpaceX’s December 2024 valuation of $350 billion and become the highest private‐company valuation in U.S. history.
• Starlink’s satellite internet unit now generates over half of SpaceX’s annual revenue, reinforcing investor appetite for the financing round.
• The company is also working to restore momentum on its Starship rocket development after a June test‐stand explosion in Texas.