An unit of Saudi Arabia’s mutual fund as well as an Abu Dhabi-based business are preparing to buy a multi-billion dollar financing round for Elon Musk-led SpaceX, The Information reported on Wednesday, citing people accustomed to the conversations.
The funding round is anticipated to value the rocket maker at about $140 billion, the report included.
SpaceX elevated $2 billion in 2022 as well as $2.6 billion in 2020, according to venture capital firm Area Funding.
The firm as well as Morgan Stanley’s reps have told capitalists that Saudi Arabia’s Water as well as Electrical energy Holding Company, component of the nation’s sovereign wealth fund, as well as United Arab Emirates’ Alpha Dhabi become part of the funding round, according to the record.
SpaceX, Saudi Arabia’s Public Investment Fund as well as Alpha Dhabi did not instantly respond to a Reuters ask for remark.
Last Updated: 23 March 2023
