Asia Tech Wire (June 27) -- SpaceX, the space exploration company owned by Elon Musk, may sell insider shares again, putting it on track for a record valuation of nearly $210 billion, according to Bloomberg.

Citing people familiar with the matter, the report said SpaceX will sell insider shares at a tender offer price of $112 per share, a higher-than-expected price that would value the company at nearly $210 billion, up from a valuation of nearly $180 billion when it sold its insider shares last December.

SpaceX's new valuation is the highest ever for a private company in the U.S., but it's still below the $268 billion valuation of TikTok owner ByteDance.