The U.S Space Force has awarded SpaceX $4.16 billion to help the military track airborne targets using satellites.

The U.S. Space Force said on Friday it has awarded Elon Musk's IPO-bound SpaceX a $4.16 billion deal for a satellite program designed to track and target airborne threats.

May 29 (Reuters) - The U.S. Space Force said on Friday it has awarded Elon Musk's IPO-bound SpaceX a $4.16 billion deal for a program designed to sense and track airborne targets from space. The Space-Based Advanced Moving Target Indicator (SB-AMTI) is designed as an interconnected system-of-systems,

As part of the SB-AMTI program, SpaceX is meant to accelerate the delivery of sensors tracking and targeting threats globally from space.

Exploring how SpaceX and the emerging space economy signal a new industrial era defined by private capital, national strategy, and rapid technological convergence.

SpaceX, the rocket and satellite company led by US billionaire Elon Musk, aims to raise approximately $75 billion in a record initial public offering, the company said in a regulatory filing on Wednesday,

"Blue Origin’s inability to launch Blue Moon anytime soon is likely to put the company out of the running for Artemis III."

SpaceX has officially filed for what could become the largest IPO in U.S. history, seeking a valuation of approximately $1.75 trillion.