Jeff Bezos‘s commercial space flight company Blue Origin has reportedly sought to raise $10 billion in capital, pushing the Space Exploration Technologies Corp. (NASDAQ:SPCX) rival’s valuation to $130 billion.
Blue Origin’s First External Investments?
According to a report by the New York Times Dealbook on Wednesday, the company has gotten a $4 billion commitment from Coatue Management, a hedge fund specializing in tech-related investments.
Blue Origin did not immediately respond to Benzinga‘s request for comment.
The report also said that Bezos will contribute $2 billion in Blue Origin’s latest funding round. An additional $4 billion is expected via large institutional investors, the report said.
Blue Origin-NASA
The news comes as Blue Origin has been involved with NASA, as the company’s New Glenn rocket will be an integral part of the agency’s exploratory missions.
Blue Origin is also involved in the Artemis program alongside SpaceX. NASA Administrator Jared Isaacman also said that the agency’s scientists were helping the rocket company probe the 28 May explosion of the New Glenn rocket.
Chamath Bullish on SpaceX, Gary Black Expresses Doubts
Social Capital co-founder Chamath Palihapitiya has backed SpaceX over artificial intelligence competitors like OpenAI and Anthropic due to the company’s Space capabilities. Morgan Stanley (NYSE:MS) analyst Adam Jonas also outlined a bullish case for SpaceX, predicting a price target of $600/share and $3.3 trillion in revenue by 2040.
However, investor Gary Black of The Future Fund LLC has expressed skepticism about SpaceX, adopting a bearish position on the company.
SpaceX IPO Follows Nasdaq 100 Entry
SpaceX’s mega IPO has helped spike investor appetite in Space stocks as the company raised close to $86 billion, at a valuation of $1.75 trillion. Following the IPO, the company’s stock also gained an expedited entry into the Nasdaq 100 index.
Following its entry into the index, SpaceX will also see billions in forced buying as index funds and ETFs tracking the benchmark would be required to buy the stock.
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