Eric Johnson

Of course, the other side of SpaceX is Starlink, the satellite internet business, which has grown substantially over the past few years.

So there's a huge portfolio that SpaceX is bringing as they transform space travel.

Absolutely.

This level sets the market valuation as a precursor to the IPO.

But essentially, SpaceX runs biannual tender offers, secondary offerings, where they allow existing shareholders, employees and others, insiders, to essentially generate liquidity from their piece of SpaceX.

And so as part of that,

They set a valuation of $800 billion, which is a record, beating OpenAI's latest tally from October of $500 billion.

So making it, once again, the most valuable startup in the world.

So this is walking up to that IPO.

And of course, as you mentioned, the IPO would be $1.5 trillion, roughly, valuation.

That's right.

They bring in the majority of revenue.

They're expected to do so last year.

As I said, now they've got thousands of satellites in low Earth orbit.

It's a booming business.

Millions of customers have flown on many flights around the country.

Airlines are starting to use Starlink.

The customer reviews are favorable.

So I think investors are seeing that growth.

People, as they have watched this company, they're seeing Musk make these huge promises and then is iteratively, incrementally delivering on them.