Alternative asset manager Blue Owl Capital increased the valuation of its holdings in SpaceX by approximately 36% during the first quarter of 2026, according to a report by Reuters citing recent regulatory filings.
The filings indicate that shares held through Blue Owl’s private credit funds were marked up to more than $526 per share at the end of March, compared with valuations of just above $387 per share at the close of December 2025.
Blue Owl, which first invested in SpaceX equity in 2021 after initially providing financing to the company, partially exited the position earlier this year. Executives said the sale of roughly half the stake was completed at a company valuation of approximately $1.25tn and generated a return of around 10 times the original investment.
The transaction reportedly delivered about $133m in proceeds and realised gains of approximately $117m for the firm’s technology-focused funds.
Speaking on an analyst call, Blue Owl executives highlighted the sharp appreciation in SpaceX’s valuation amid growing investor enthusiasm for the company’s satellite and launch operations.
SpaceX is widely expected to pursue a public listing later this year, with some market estimates placing its potential valuation at as much as $1.75tn. Such a figure would position the company among the largest publicly traded businesses in the US market.
Investor optimism around the company has been fuelled by continued growth in its Starlink broadband business, which has surpassed 10 million subscribers, alongside the strength of its launch services division.
During the quarter, SpaceX also confirmed its acquisition of xAI in a transaction described as one of the largest deals in the artificial intelligence sector to date.
