SpaceX is reportedly considering the possibility of spinning off its internet satellite business, Starlink, through an initial public offering (IPO) as early as late next year, according to sources. The company has been restructuring by transferring Starlink assets to a wholly owned subsidiary, although no final decisions have been made regarding the IPO, which could potentially be delayed until 2025.

Elon Musk’s space company, SpaceX, is known for its high-speed internet service provided by more than 5,000 satellites launched across over 60 countries. In November, Musk announced that Starlink had achieved breakeven cash flow, and it was reported that SpaceX sees its revenue increasing by 67% in 2023 to $15 billion, with Starlink contributing $10 billion to that figure. This projection indicates that Starlink’s business potential is growing and surpassing the revenue generated by SpaceX’s space-launch business.

While Musk has previously mentioned the idea of taking Starlink public, it was initially believed to be several years away. However, Chamath Palihapitiya, known as the “SPAC-king,” predicted in January that Musk would make Starlink public in 2023. Palihapitiya stated that Musk would create financial flexibility for himself by going public and gaining more resources. He believed that it would be the most straightforward approach for Musk to take.

Billionaire investor Ron Baron also expressed confidence in SpaceX’s future, foreseeing the company’s worth reaching half a trillion dollars by 2030. Baron emphasized that SpaceX’s reusable rockets will revolutionize space travel, creating a “railroad to space.”

If SpaceX proceeds with an IPO for Starlink, it would provide an opportunity for investors to participate in the growing business of satellite-based internet services. However, as no formal announcement has been made by SpaceX, plans can still change regarding the timing and execution of the IPO.