SpaceX is reportedly considering an initial public offering (IPO) for its satellite business, Starlink, as early as the end of 2024. This move aims to capitalize on the growing demand for space-based communications. To prepare for the IPO, SpaceX has transferred the satellite assets to a wholly-owned subsidiary, which will eventually be split off during the IPO process. According to Bloomberg, Starlink is projected to generate around $10 billion in sales next year.

Starlink operates a network of thousands of low Earth orbit satellites that provide high-speed internet globally. The satellites orbit at a much lower altitude of about 550 km, which significantly reduces latency to approximately 25 milliseconds compared to the usual 600 milliseconds or more. As a result, Starlink is able to provide high-speed internet that supports streaming, online gaming, and video calls.

Starlink is currently the world’s largest and first-ever satellite constellation dedicated to providing high-speed internet. This potential IPO could further fuel SpaceX’s goal of creating a global broadband network accessible to people worldwide, particularly in remote and underserved areas. It would also provide an opportunity for investors to participate in the growing space-based communications market.

The details of the IPO, including the timing and valuation, have not been finalized, and SpaceX has yet to officially confirm the reports. However, if the IPO proceeds, it would mark a significant milestone for SpaceX’s satellite business as it seeks to expand its operations and fulfill its vision of enabling global internet connectivity through its Starlink network.