Elon Musk’s rocket and satellite internet venture is reportedly in talks with investors about the new round, which is unlikely to be completed within the next couple months. (Bloomberg)
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Elon Musk’s rocket and satellite internet venture is reportedly in talks with investors about the new round, which is unlikely to be completed within the next couple months. (Bloomberg)
Talking point: In a July 20 research report, Morgan Stanley estimated the company could be worth around US$175 billion. SpaceX has raised about US$3.5 billion to date, with the most recent round announced in March. According to CNBC, the new funding will be used to deploy SpaceX’s Starlink satellite broadband service, which aims to bring internet connection to any location on Earth. The company is currently preparing to bring back its first crewed mission on August 2. Meanwhile, Tesla, Musk’s electric-car company, reported a fourth consecutive quarterly profit Wednesday, despite disruptions from the pandemic. It’s also suing electric-car startup Rivian over alleged talent poaching and theft of trade secrets.
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