Elon Musk’s SpaceX in talks to raise new funds at $44 billion valuation

Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors about raising $1 billion at $270 per share.

SpaceX said that it aims to make interplanetary transportation from the Earth to the moon and Mars a reality with its reusable rockets. The company added that it has ambitions to use Starship for rapid long-distance air travel on Earth to make long-haul flights in less than an hour.

Morgan Stanley (MS) stated that SpaceX raised $346.2 Million in May at a valuation of $36 billion. The bank said that the company remains “focused on the needs and sources of capital for SpaceX as a potential catalyst to increase the relevance of space for public investors.”

SpaceX’s investors include Peter Thiel’s Founders Fund, Google (GOOGL), Fidelity (FNF), Baillie Gifford (BGITX) and Valor Equity Partners.

Elon Musk is also the chief executive officer of Tesla Inc. (TSLA.O).