Jeff Bezos' space company Blue Origin is reportedly raising $10 billion at a $130 billion pre-money valuation, according to The New York Times. The round would be the company's first external fundraise, drawing in major backers including Coatue Asset Management, Bezos himself, and other large investors, and marking a significant vote of confidence in the firm despite recent difficulties.

Coatue is expected to contribute around $4 billion, with Bezos committing $2 billion and other investors making up the rest. The raise follows a serious setback in late May, when Blue Origin's flagship New Glenn rocket exploded during testing ahead of its fourth launch; the company had not yet identified the cause and must also rebuild its Cape Canaveral launchpad. Getting New Glenn operational is a priority as the firm refocuses on NASA's Artemis moon missions, while also pursuing ambitions in orbital data centres and a satellite internet network. The news comes after rival SpaceX's recent IPO, which raised over $85 billion at a $1.75 trillion valuation.