SpaceX is boosting its capital raising a huge sum of funding and bringing its valuation to around $127 billion

The Elon Musk owned company is aiming to secure up to $1.7 billion at a price of $70 per share.

This is all according to an email that was sent from SpaceX to its employees late last week.

The change would bring the valuation up by 25 per cent.

This comes only 3 months after the space venture company split its private stock 10-for-1 dropping the price to $56 a share.

A secondary sale will also be made available to SpaceX insiders and existing share holders with up to $750 million in common stock up for grabs.

This allows stockholders to sell equity given SpaceX is a private company.

The last few years have seen the spacecraft engineering company soar to new heights raising billions to finance two major projects including their Starship rocket and Starlink satellites.