SpaceX's entry will take longer after S&P Dow Jones Indices declined to relax rules for megacap IPOs. Reuters U.S. M&A Editor-in-Charge Echo Wang examines the IPO and whether sky-high multiples are justified or reflect the so-called Musk premium.

Elon Musk’s rocket company said Google would pay it $920 million a month, as it prepared for its initial public offering.

As part of the deal, Google will pay SpaceX $920 million monthly ‌from October ⁠this ⁠year to June 2029, with capacity ramping up through September at a reduced ​fee, Elon Musk's space venture said in a regulatory filing.

The agreement gives SpaceX a new stream of revenue for its AI business ahead of its IPO.

SpaceX secured a $920M per month deal with Google for compute capacity, boosting its revenue before an anticipated IPO.

SpaceX will sell its shares for $135 apiece during its IPO, yielding a valuation of $1.77 trillion.

The largest index in the world won't relax its rules to let SpaceX enter early.

S&P Global said it ​was not changing the requirements for entry, effectively ruling out a swift entry for the IPO into the benchmark S&P 500 index.

Many current and former staffers have stakes valued at millions of dollars and will be able to tap them more easily after the rocket maker goes public.

The SpaceX IPO may just be weeks away. The company is reportedly attempting to achieve a $2 trillion valuation, which would allow it to raise upwards of $75 billion in new capital. Many experts believe the IPO is overhyped and caution retail investors to stay away.