Reuters Science News Summary

The banks are still likely to rake in about $500 million from the record-setting listing of the space and AI conglomerate, the report added, citing people familiar with the matter. Exclusive-SpaceX targets $1.75 trillion valuation including greenshoe option in record IPO, sources say SpaceX, Elon Musk's rocket and satellite company, plans to target a valuation of $1.75 trillion, including a greenshoe option, in its blockbuster initial public offering, two people familiar with the matter ⁠told Reuters on ​Tuesday.

Following is a summary of current science news briefs.

Blue Origin launch pad repairs could take 'serious time', NASA chief tells CNBC

Damage to a Blue Origin launch pad from the ​spectacular explosion of the company's giant New Glenn rocket during a test firing of its engines last week will "take ​some serious time" to repair, NASA Administrator Jared Isaacman told CNBC on Monday. A ‌2028 ​time frame was "within the realm" of possibility, he said in an interview at CNBC's CEO Council Summit, the network reported.

Exclusive-UK adopts SpaceX's Starshield for military operations, sources say

Britain has begun using SpaceX's militarised satellite network Starshield, according to two people familiar with the matter, making it among the first countries outside the United States to adopt Elon Musk's government-focused variant of Starlink. Starshield, developed for the U.S. ‌government, is designed for military and intelligence missions with enhanced security features, while SpaceX's standard Starlink broadband service is aimed at consumer and commercial use.

A bachelor's in rare earths? In China, there are schools for that

Every year, several hundred young adults head to the steppes of northern China to learn about rare earths at schools like the Inner Mongolia University of Science and Technology. After completing undergraduate study, they may venture a few kilometers up the six-lane Rare Earths Street in Baotou, where they can work for state-owned refiners that convert the ‌critical minerals into magnets that power jet engines, electric vehicles and wind turbines. Or, the graduates may pursue further studies at the nearby Baotou Rare Earth Research Institute – roughly 150 km (93 miles) from the world’s largest rare earths mine.

SpaceX negotiating underwriting ‌fees under 0.75% for IPO, Bloomberg News reports

Elon Musk's SpaceX is negotiating with banks underwriting its initial public offering to pay fees of less than 0.75% on the roughly $75 billion it aims to raise this month, Bloomberg News reported on Tuesday. The banks are still likely to rake in about $500 million from the record-setting listing of the space and AI conglomerate, the report added, citing people familiar with the matter.

Exclusive-SpaceX targets $1.75 trillion valuation including greenshoe option in record IPO, sources say

SpaceX, Elon Musk's rocket and satellite company, plans to target a valuation of $1.75 trillion, including a greenshoe option, in its blockbuster initial public offering, two people familiar with the matter ⁠told Reuters on ​Tuesday. After some early meetings with investors, or a "testing the waters" process, the ⁠company has indicated it plans to raise at least $75 billion, the sources said, requesting anonymity to discuss confidential information. The greenshoe option gives underwriters the right to sell additional shares if investor demand exceeds expectations, typically up to 15%.

Norway recovers porcelain, chandeliers from 18th century shipwreck

Archaeologists have recovered a trove of Chinese ⁠porcelain and European-made goods from a recently discovered 18th-century shipwreck off the coast of Norway, government and museum officials said on Monday. Among the goods found in the remains of the unnamed sailing ship were tightly stacked white and blue porcelain bowls as well as goblets, textiles, grain and parts of chandeliers, ​the Norwegian Maritime Museum said.

Blue Origin faces months of delays after rocket explosion damages launch pad

Blue Origin faces a months-long setback after the explosion of a rocket damaged its launch pad, company and industry sources said, scrambling schedules ⁠for Amazon satellite launches and bolstering SpaceX's dominance in the commercial launch market. The mishap, which occurred during a test fire of the engines for the New Glenn rocket's launch next week, comes at a critical time for Jeff Bezos' business empire. His companies Blue Origin and Amazon are seeking to establish themselves as viable challengers ⁠in ​the heavy-lift and global satellite internet network industries, competing with Elon Musk's SpaceX.

Astronomers discover exoplanets with magnetic fields

Based on the behavior of winds on seven large and hot gas exoplanets, astronomers have obtained the strongest evidence to date that planets beyond our solar system possess magnetic fields, like Earth and five other planets in our solar system. The finding, based on observations by telescopes in Chile and Hawaii, deepens the understanding of exoplanets by showing that at least some share an important characteristic present in all but ⁠two of the solar system's eight planets. A magnetic field is an invisible force field generated by the movement of electrically conducting material deep inside a planet - a molten metal core - combined with the planet's rotation.

Morningstar values SpaceX at $780 billion, ⁠half its IPO target

Morningstar analysts pegged SpaceX's valuation at $780 billion, less than half ⁠of what the Elon Musk-led company is reportedly targeting in its initial public offering, ahead of a planned roadshow this week. Prospects for the company's artificial intelligence business, which includes xAI and social media platform X, were uncertain given unclear economics and competition from OpenAI and Anthropic, the research firm said.

Impulse Space raises $500 million at $4.26 billion valuation as space investing surges

Impulse Space, a startup building spacecraft ‌that can ferry satellites and other payloads ‌around in orbit after launch, said on Tuesday it has raised $500 million in a Series D funding round. The funding round values the ​company at $4.26 billion, according to a person familiar with the matter.