Billionaire Jeff Bezos’ aerospace venture Blue Origin is securing $10 billion at a $130 billion pre-money valuation from Coatue Asset Management, Bezos himself, and other significant investors, according to The New York Times.

Coatue is anticipated to contribute approximately $4 billion in this round, marking Blue Origin’s inaugural external funding effort. Bezos is reported to be pledging $2 billion, with the other investors covering the rest, as stated in the report.

This funding comes after a significant challenge for Blue Origin, as its main rocket New Glenn detonated during testing in late May while gearing up for its fourth launch. The company had not identified the cause of the explosion as of last week, but it still aims to utilize the rocket for upcoming launches later this year. Blue Origin also needs to reconstruct its launchpad in Cape Canaveral, which is the only facility capable of supporting the rocket and one of the most potent launch vehicles currently available.

Making New Glenn fully operational is a crucial goal for Blue Origin, particularly as the company has shifted its focus entirely toward aiding NASA’s Artemis missions to the moon. The firm also aspires to launch and manage data centers in space, seizing opportunities in a nascent trend that aims to relocate substantial computing capacities to orbit.

Part of the investment may also assist Blue Origin in developing its satellite internet network, announced earlier this year, which plans to utilize thousands of satellites for data connectivity to enterprise, government, and data center clients.

The funding follows SpaceX’s remarkable IPO last month, in which the AI/datacenter/space company raised over $85 billion at a $1.75 trillion valuation.