12:06 PM EDT, 03/19/2024 (MT Newswires) -- SpaceX, which is owned by Tesla (TSLA) Chief Executive Elon Musk, is not planning to launch an initial public offering of its Starlink unit anytime soon, Chief Operating Officer Gwynne Shotwell said at an industry conference Tuesday, according to Bloomberg News.

"We are not focused on an IPO for Starlink right now," Shotwell said, Bloomberg reported. She said the company is instead looking to improve the satellite service, including transmission speeds.

Representatives for SpaceX did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)