SpaceX in talks to raise nearly US$1bil

An exterior of the SpaceX headquarters in Hawthorne. The ongoing talks offer SpaceX’s share at about US$85 apiece, up from the US$125bil valuation the company fetched earlier this year. – Reuters

NEW YORK: Billionaire Elon Musk’s SpaceX is in talks to raise nearly US$1bil (RM4.51bil) in a new round that would value the rocket-launch and satellite company at about US$150bil (RM676.9bil), sources say.

The ongoing talks offer SpaceX’s share at about US$85 (RM383) apiece, up from the US$125bil (RM564.1bil) valuation the company fetched earlier this year, sources told Reuters, suggesting strong investor appetite while many late-stage venture capital-backed startups have to cope with valuation cuts.