Commercial space ventures in the US and China are tapping broader pools of capital as the superpowers vie for dominance in a fierce space race.
Jeff Bezos’ Blue Origin is seeking its first outside capital, aiming to raise $10 billion at a valuation of about $130 billion, The New York Times reported. The rocket company’s fundraising comes after rival SpaceX’s record $86 billion IPO, which made Elon Musk a trillionaire.
In China, banks are stepping up lending to the country’s commercial space sector, Caixin reported; one pledged $1.5 billion in credit support for aerospace enterprises over the next three years. The US still has “the strongest commercial space industry,” a US lobbyist said, but “China is moving very quickly to catch up.”