Elon Musk’s SpaceX is seeking to raise $750 million in a new round of funding that values the rocket maker and satellite internet company at $137 billion, CNBC reports, citing correspondence. The funding round will likely be led by venture capital giant Andreessen Horowitz, also known as a16z, which also participated in Musk’s $44 billion Twitter buyout. Reuters reported in November that SpaceX was in talks about an offering of secondary shares that would value the company at up to $150 billion. 

SpaceX raised more than $2 billion in 2022 and was valued at $127 billion during a May funding round, CNBC reported.