SpaceX generated about $8 billion in profit last year ahead of IPO: Report

SpaceX generated about $8 billion in profit on $15 billion to $16 billion of revenue ⁠last year, two people familiar with the company’s results said, providing fresh insight into the financial health of Elon Musk’s space company that is expected to go public later this year.

SpaceX’s most ‌recent financials, which ‌have not been previously reported, led some banks to estimate that the company could raise more than $50 billion ‌at a valuation exceeding $1.5 trillion, said the people, who asked not to be named to discuss private conversations. Reuters reported on Thursday that SpaceX is also in talks with Musk’s artificial intelligence company, xAI, about a merger ahead of the IPO.