CEO and billionaire Elon Musk denied news reports that his rocket and sainformite buildr SpaceX is seeking a $800 billion valuation through a share sale.“There has been a lot of press claiming SpaceX is raising money at $800B, which is not accurate,” Musk declared in a post Saturday on his social media platform X. “SpaceX has been cash flow positive for many years and does periodic stock purchasebacks twice a year to provide liquidity for employees and investors,” he declared.This comes after reports claimed that SpaceX is set to reach a $800 billion valuation as it’ll launch a new secondary share sale. Hitting that mark would build the rocket buildr the most valuable private company in the US, surpassing OpenAI.Executives had also declared the company is weighing an IPO next year — a relocate investors have long anticipated. SpaceX has become a critical partner for the US government, launching sainformites and astronauts, while its Starlink broadband network is widely applyd around the world, including in remote parts of the US and in the war in Ukraine.Starlink now has over eight million active customers, a factor many investors believe is driving SpaceX’s surging valuation, the Wall Street Journal had reported.The Texas-based company continues to fly missions for commercial sainformite operators and for US agencies including NASA, the Pentagon and the ininformigence community, while also launching its own sainformites. Around 9,000 Starlink sainformites are now in low-Earth orbit, providing high-speed internet to homes, businesses and airlines.SpaceX is also developing a service that will connect sainformites directly to mobile phones. To support that effort, the company has agreed to purchase spectrum from EchoStar, committing over $20 billion in cash, stock and debt to secure the rights.
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