• Blue Origin is in early talks to raise its first external capital, seeking about $10 billion at a valuation of roughly $130 billion, excluding new funds, according to people familiar with the matter.
  • The move marks a strategic shift for the space company, which has long relied on founder Jeff Bezos's deep pockets, toward institutional capital to finance an aggressive expansion in launch capacity and manufacturing.
  • The fundraising, reported by the New York Times DealBook, would be one of the largest private capital raises in the aerospace sector, reflecting investors' growing appetite for space ventures despite high execution risks.

Blue Origin, the private aerospace company founded by Jeff Bezos, is exploring its first-ever external fundraising round, according to people familiar with the matter. The company is in preliminary discussions to raise around $10 billion, which would value the business at about $130 billion excluding the new capital, the New York Times DealBook reported. The talks underscore a significant evolution in Blue Origin's capital strategy, as it seeks to accelerate development of its New Glenn rocket and expand manufacturing capacity to better compete with SpaceX.

Dave Limp, Blue Origin's chief executive, has signaled a push toward external funding to scale operations. The company has historically been funded largely by Bezos, who has poured billions into the venture. However, the capital-intensive nature of spaceflight — with heavy spending on reusable rocket technology, launch facilities, and lunar lander programs — has prompted a search for additional financing. "We're at an inflection point where outside capital can help us dramatically increase our launch cadence," a person close to the company said, speaking on condition of anonymity because the talks are private.

The potential valuation of $130 billion underscores Blue Origin's standing as one of the most valuable private companies in the space sector, even as it has yet to achieve the operational scale of rival SpaceX. The fundraising, if completed, would provide a major cash infusion to support the debut of New Glenn, which has faced delays, and to ramp up production at its manufacturing facilities in Florida and Alabama. It would also help Blue Origin compete for lucrative government contracts, including those from NASA and the U.S. Space Force.

Industry analysts see the move as part of a broader trend of private space companies tapping institutional investors for growth capital. "A raise of this magnitude would change the competitive dynamics in the launch market," said a space industry analyst who asked not to be named. It would also reduce Blue Origin's dependence on Bezos's personal fortune, potentially broadening its investor base and paving the way for a future initial public offering. However, the talks are still in early stages, and the terms could change. Blue Origin declined to comment, and a representative for Bezos did not respond to a request for comment.

Correction: An earlier version of this article misstated the valuation as including the new capital. The $130 billion figure excludes the $10 billion raise.