Alphabet is poised to record another unrealised gain following a tender offer that values SpaceX at about $800bn, according to Bloomberg. 

The move is expected to lift the carrying value of Google’s investment in the private space company.

The tender offer priced insider shares at $421 each, marking a sharp increase from earlier secondary transactions. Alphabet has held a stake in SpaceX since at least 2015.

Earlier this year, Alphabet disclosed an $8bn unrealised gain linked to a previous SpaceX revaluation. That accounting uplift helped push quarterly earnings above market expectations.

Alphabet does not disclose individual private holdings in its filings. However, valuation changes at SpaceX have previously flowed through earnings as unrealised gains on non-marketable equity securities. 

Investors are now watching for another boost in the next results.

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