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SpaceX on track to become third most valuable private company in the world

SpaceX's valuation continues to skyrocket after a new funding round substantially increased the company's share price. (Richard Angle)

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SpaceX is on track to become the third most valuable private company in the world if it successfully raises a new round of funding.

First reported and confirmed by CNBC, SpaceX hopes to raise between $500 million and $1 billion via a new investment offering. The Series N round would ultimately value the company at $44 billion – second only to China’s Didi and Bytedance (known in the US for TikTok) – if SpaceX finds significant investor interest at the upgraded $270 share price. Based on the ~$3.4 billion SpaceX has raised over more than a dozen rounds in just the last several years, strong investor demand is all but guaranteed.

The confidence and interest of investors can be explained in large part by SpaceX’s spectacular success in the face of countless systemic and technological challenges, as well as its association with founder and Tesla CEO Elon Musk. Perhaps even more at odds with success than SpaceX’s near-term goals, Tesla’s meteoric rise and iron grip on the global consumer electric vehicle industry has unsurprisingly helped convince many that success is often just a matter of time for Musk’s calculated ventures.

Dozens of Starlink satellites streak through the night sky in this long exposure image. (Richard Angle)
Both SpaceX’s Starship and Starlink programs are in the midst of major, capital-intensive shifts in strategy. (NASASpaceflight – Nomadd)

Like several recent fundraising rounds, SpaceX is seeking investors willing to support the company’s long-term vision in the hopes that its Starship and Starlink programs will be as disruptive and revolutionary as they aim to be. CNBC reports that SpaceX is telling prospective investors that Starlink aims to become a major player in a range of industries with a potential global market of more than $1 trillion per year. That figure is almost certainly a best-case theoretical value assuming that SpaceX has completed a vast ~40,000-satellite Starlink constellation and is able to capture almost every single prospective customer.

It’s still within the realm of possibility, though. On its own, Starlink holds the potential to become one of the largest companies in the world – public or private – if SpaceX achieves every ambitious goal it’s set itself to. In that context, there’s a chance that acquiring a stake in SpaceX at a valuation of ~$44 billion will set investors up for unprecedented returns on the order of Tesla investors buying shares for $100-200 in the early 2010s.

60 Starlink v1.0 satellites stacked and ready for launch. (SpaceX)

Of course, that investment rationale doesn’t even touch on Starship, aside from the fact that Starship will be a necessity if SpaceX is to have any chance of launching and maintaining a constellation of tens of thousands of satellites. Beyond the Starship/Super Heavy launch vehicle’s integral role in future plans for Starlink, the next-generation rocket is arguably a much thornier technical challenge than Starlink while also offering far less return-on-investment (ROI) certainty. Relative to other industries, particularly those with demand for communications services, the global demand for commercial launch services is minuscule, representing just a few billion dollars per year.

Starship SN5. (NASASpaceflight – bocachicagal)
A senior SpaceX engineer and executive believes that Starship’s first orbital launch could still happen by the end of 2020. (SpaceX)

Even if Falcon 9 – let alone Starship – dramatically cuts the cost of access to orbit, there’s no guarantee beyond basic economic theory that lowering the barrier to entry will necessarily expand the market for launches. For a radical expansion in demand, entire new space-adjacent industries will have to be created given that the vast majority of modern demand comes from space-based communications companies.

SpaceX has known that this would be the case for at least half a decade, however, and is thus intelligently positioning Starlink as a primary investor focus as far as revenue and profit are concerned. Starlink would thus help SpaceX complete the Starship launch vehicle, which is far more focused on the company’s foundational goal of making humanity a multiplanetary species by enabling the creation of a self-sustaining city on Mars. Still, Starship will need to be revolutionarily affordable, reliable, and reusable for SpaceX to ever even dream of achieving that founding goal.

In the process of tackling those technical challenges, Starship could very well expand the global space industry by one or several magnitudes, but it will remain a major wildcard up until the day it does.

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Eric Ralph is Teslarati's senior spaceflight reporter and has been covering the industry in some capacity for almost half a decade, largely spurred in 2016 by a trip to Mexico to watch Elon Musk reveal SpaceX's plans for Mars in person. Aside from spreading interest and excitement about spaceflight far and wide, his primary goal is to cover humanity's ongoing efforts to expand beyond Earth to the Moon, Mars, and elsewhere.

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Elon Musk roasts India’s billionaire Mukesh Ambani as Starlink fight heats up

Elon Musk sarcastically calls Mukesh Ambani ‘Prime Minister’ as the Starlink India standoff escalates again.

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Elon Musk escalated his public fight over Starlink’s launch in India on Friday, addressing Reliance chairman Mukesh Ambani as “Prime Minister Ambani” in a sarcastic post on X. “Please accept my humble apologies for not realizing that you are the real boss of India,” Musk wrote, before accusing Ambani of “monopolistic exploitation” and asking whether he would “consider allowing Starlink to compete.” In follow up posts, he said Starlink has proven essential during natural disasters and would help parts of India with no internet access.

The post came two days into a fight that Musk sparked up on Wednesday, when he said Starlink was “being blocked by certain oligarchs in order to maintain their monopolistic chokehold on the Indian people.” He called it “a crime against the people of India” and left the names out, adding only, “You can guess who they are.” Jio and Airtel together hold more than 80% of India’s telecom market. On Thursday, Musk asked whether Ambani is “the real boss of India” and said Starlink has spent five years complying with “every single law and requirement” of the Indian government.

India’s government has pushed back each time. The Ministry of Communications called the suggestion that its framework is unfair or discriminatory “baseless and misconceived.” Communications Minister Jyotiraditya Scindia said Friday that three companies hold satcom licenses: Starlink, Jio Satellite Communications, and Bharti backed Eutelsat OneWeb. Amazon’s Kuiper, now Amazon Leo, is still going through the process. None can launch until regulators finalize satellite spectrum pricing and the Home Ministry signs off on each company’s security compliance. Scindia said the telecom regulator and the Department of Telecommunications are close to a decision on pricing, The Hindu reported. Bharti chairman Sunil Mittal also said OneWeb is still waiting on approvals.

Starlink received its operator license in 2025 after a three year wait, and the space regulator IN-SPACe granted what industry executives called the last approval needed in July. The holdup since then centers on security, particularly concern that foreign operators could bypass Indian gateways.

Musk and Ambani have been on opposite sides of this before. In late 2024, Ambani argued for auctioning satellite spectrum, which Musk criticized as out of step with the rest of the world, and India chose administrative allocation instead. By March 2025, the two sides had signed a deal to sell Starlink devices in Reliance stores, and Starlink secured its telecom license that June. That partner is now also a competitor. Jio is reportedly weighing a constellation of 1,600 to 1,650 satellites costing an estimated $10 billion to $15 billion, while Akash Ambani has told shareholders Jio plans to lease capacity from global providers to move quickly.

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Elon Musk’s surprise addition to the X Takeover lineup has fans talking

Elon Musk will join Saturday’s X Takeover at Giga Texas for a live virtual interview.

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Credit: Tesla Owners Silicon Valley
Credit: Tesla Owners Silicon Valley

Elon Musk will join X Takeover at Giga Texas on Saturday for a live virtual interview, according to Sawyer Merritt, who shared the news late Thursday. Musk will not be on stage in Austin. The conversation is set to stream for free on the @teslaownersSV account on X.

Organizers had kept expectations in check. In a September update, Tesla Owners Silicon Valley said Musk had appeared at the event twice before but was not promising a third appearance, even as fans hoped he would walk the Giga Texas grounds in person. A virtual spot matches 2024, when Musk gave a surprise interview of about an hour to the crowd in San Luis Obispo, as Teslarati reported at the time.

This year’s edition is a first in several ways. It is the first X Takeover held outside California and the first at a Tesla facility, with tickets selling out in eight days. Tesla provides the venue, but the event is produced independently by Tesla Owners Silicon Valley. The main event runs from 10 a.m. to 6 p.m. CT, followed by a drone and light show at 9 p.m. Maye Musk is the keynote speaker, Franz von Holzhausen is set for a virtual keynote, and Nicki Minaj is the special guest. Joe Tegtmeyer, whose drone footage Teslarati used to track the Optimus factory steel frame at Giga Texas, is also on the speaker list.

Musk’s interview topics have not been revealed, but the backdrop is busy. Tesla doubled its Cybercab fleet in Austin in late September, and last week Musk explained why Robotaxi hours only moved from 10 p.m. to 11 p.m.. Merritt also reported Thursday that Texas DMV records now show 319 registered Cybercabs, up from 169. NHTSA’s deadline for Tesla’s sworn answers on Cybercab certification is October 30, and Tesla reports third quarter earnings on October 21.

Fans who cannot make it to Austin can watch the livestream on X. Musk tends to say more in unscripted settings than he does in prepared remarks, which is the reason this one is worth having open on Saturday.

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It’s official: SpaceX takes aim at Verizon, AT&T, and T-Mobile

SpaceX is buying 800 MHz spectrum from Grain to turn Starlink Mobile into a carrier.

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Starlink D2D direct to device vs Verizon, AT&T (Concept render by Grok)

SpaceX has agreed to buy a nationwide block of low band wireless spectrum, a deal the company says will let Starlink Mobile operate as a full US carrier rather than a satellite add-on for someone else’s network.

The company announced the agreement on X on Thursday afternoon, saying it will “pave the way for @Starlink to become a major mobile carrier in the US.” The seller is Grain Management, a private investment firm that confirmed in a statement that SpaceX will acquire 100% of its nationwide 800 MHz portfolio. That covers up to 14 MHz of paired spectrum in the 817 to 824 MHz and 862 to 869 MHz bands. Neither side disclosed a price, and the deal still needs FCC approval.

Grain only recently picked up the licenses itself. It bought the portfolio from T-Mobile in a transaction that closed in August, paying cash plus its own 600 MHz spectrum. Rival AST SpaceMobile had been testing satellites on the same bands before SpaceX stepped in.

SpaceX said its 2 GHz spectrum will handle high bandwidth capacity, while the new 800 MHz layer “ensures Starlink Mobile’s signal penetrates through obstacles, such as walls, and can provide service to customers’ devices even when they are in buildings.” The company added that most existing phones already support the band, so customers would not need new hardware to use it.

That 2 GHz spectrum came from SpaceX’s EchoStar acquisition last year, which gave the company exclusive S band rights in the US and global Mobile Satellite Service licenses. The Grain spectrum is different in an important way: it is tailored for service from ground towers, not satellites. SpaceX said that combination would make Starlink Mobile “the first network operator to deploy both satellite and terrestrial spectrum.”

The announcement also follows a key regulatory win. Earlier this week, the FCC approved SpaceX’s plan to deploy 15,000 second generation Starlink Mobile satellites, which the company has said will carry up to 100 times the data density of the current system, as Teslarati previously reported.

Shares of AT&T, Verizon and T-Mobile fell in extended trading after the announcement. T-Mobile is currently SpaceX’s launch partner for Starlink Mobile in the US, which makes its position the most complicated of the three.

SpaceX has not been subtle about its plans. During the company’s August earnings call, President and COO Gwynne Shotwell said she expected Starlink Mobile to win over customers from the major carriers. “I anticipate us to be able to acquire quite a few of their customers because I think our service will be better,” she said, pointing to dead zone coverage and resilience during disasters. Shotwell also described plans for low cost cellular base stations that could pair with existing Starlink dishes.

SpaceX has targeted 2027 for deployment of its next generation Starlink Mobile satellites, with upgraded service expected by the end of that year. The FCC review of the Grain deal now determines when the terrestrial half of that network can come online.

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