SpaceX valuation hits $74 billion after it raises $850 million: Report

Elon Musk-owned SpaceX has raised funding of $850 million, taking its valuation to $74 billion, a report said. SpaceX reportedly raised the funds at $419.99 per share, slightly below the $420-mark at which Musk in 2018 declared he had "funding secured" to take Tesla private. SpaceX is currently working on capital-intensive projects like Starlink satellite internet service and Starship rockets.