Elon Musk Says SpaceX Not Planning A Starlink Phone

• As per the report, SpaceX has multiple plans for its Starlink business including a Starlink phone, direct-to-device internet and a space-tracking service.
• Musk previously had said that a Starlink phone is "not out of the question at some point.”
• SpaceX’s Starlink satellite internet segment accounted for about 50% to 80% of the company’s $15 billion to $16 billion in revenue last year, as per Reuters.

SpaceX CEO Elon Musk said on Thursday that the rocket manufacturing company is not developing a phone, putting to rest rumors suggesting otherwise.

“We are not developing a phone,” Musk said in a post on X on the heels of a report from Reuters that the company has plans for a Starlink phone.

As per the report, SpaceX has multiple plans for its Starlink business including a Starlink phone, direct-to-device internet and a space-tracking service. As per three sources cited in the Reuters report, the mobile device could rival smartphones and would be connected to its Starlink satellite internet constellation.

The report also noted that details on the device’s design and potential development timelines are unclear. However, a phone has been on the plan for years, it said.

How Will A Starlink Phone Be As Per Musk?

Musk said in late January that a Starlink phone is "not out of the question at some point.” It would be a very different device than current phones, Musk said at the time.

SpaceX’s Starlink satellite internet segment accounted for about 50% to 80% of the company’s $15 billion to $16 billion in revenue last year, as per Reuters.

SpaceX IPO

SpaceX announced on Monday that it would acquire the billionaire’s artificial intelligence startup xAI. The combined company will have a valuation of $1.25 trillion, as per Bloomberg, with shares expected to be priced at $526.59 each. The news comes on the heels of reports that SpaceX is contemplating an IPO as early as this year that could raise as much as $50 billion.

According to a Wall Street Journal report on Wednesday, citing people familiar with the matter, SpaceX's advisers have approached leading index providers, including Nasdaq, to discuss how the company can join key U.S. stock indexes "sooner than normal."

On Stocktwits, retail sentiment around SPACEX trended in the ‘bullish’ territory at the time of writing while message volume remained at ‘extremely high’ levels. 

Read More: Fund Manager Recommends Elon Musk Buyback Tesla Shares To Spark Stock Turnaround

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