SpaceX Financial News

Subscribe to enjoy similar stories.Elon won.Well, technically, he didn’t. A jury on Monday sided with Sam Altman and OpenAI, and their arguments that the statute of limitations had run out for Elon Musk to bring his whole “stole-a-charity” claims against his former AI lab partner-turned-corporate rival.

Subscribe to enjoy similar stories.Nvidia is no longer the only AI chip game in town. But it is the largest by far, and the likelihood that it will be that way for the foreseeable future should count for something.It hasn’t counted for much lately.

Subscribe to enjoy similar stories.It all happened in one day.Three of the hottest startups in history moved closer Wednesday to becoming trillion-dollar companies. With a fresh filing, SpaceX showed the path to a landmark IPO likely to mint Elon Musk as the world’s first trillionaire.

Subscribe to enjoy similar stories.Elon Musk, who co-founded OpenAI as a non-profit entity in 2015 along with Sam Altman and others, has suffered a setback. His lawsuit against Altman for turning a carved-out subsidiary of OpenAI into a profit-oriented entity has been rejected by a US court. Musk’s suit was found to be too late under the law of limitations, which prevents legal action against an event after a specified time lapse.

Subscribe to enjoy similar stories.IF There has been a common narrative around artificial intelligence this year, it is that advances in the technology are shaking up the vast—and hitherto cosy—world of software. In order to keep this blitzkrieg going, the labs at the forefront of AI need to raise enormous amounts of money.

Subscribe to enjoy similar stories.It sounds like the investment opportunity of a lifetime: a chance to get in on one of the hottest names on Wall Street, before the company’s stock even starts trading.Financial advisers say buyer beware.It is technically possible for ordinary investors to get ahead of the coming oversize and high-profile public offerings expected in 2026—including SpaceX, OpenAI and Anthropic. Investors can get access through direct secondary marketplaces, exchange-traded funds that advertise private-company exposure and even crypto tokens that seek to mirror the performance of the company’s shares.But all those methods vary greatly in risk level and degree of actual ownership on offer, highlighted by Anthropic’s market-rattling warning this past week that it won’t recognize investments not approved by its board.

Subscribe to enjoy similar stories.Skyroot Aerospace Pvt. Ltd.

Subscribe to enjoy similar stories.The space race is heating up ahead of SpaceX’s initial public offering. And no, we’re not talking about competition for Elon Musk’s company from Jeff Bezos’ Blue Origin, the United Launch Alliance joint venture of Boeing and Lockheed Martin, or Rocket Labs.Fund companies are gearing up to promote their space-themed exchange-traded funds.

Subscribe to enjoy similar stories.Elon Musk is dissolving his artificial-intelligence company, xAI. That sounds alarming, but it amounts to corporate restructuring ahead of his rocket company’s record-setting initial public offering.Now, SpaceX is the entity that will vie for AI supremacy with OpenAI, Anthropic, and Alphabet.

Subscribe to enjoy similar stories.The second week of a blockbuster trial between Elon Musk and Sam Altman kicks off Monday, with the future of OpenAI very much up for grabs.OpenAI President Greg Brockman is expected to testify Monday, the next star witness in a revolving cast of some of the most important leaders in AI.Over three days of testimony and cross-examination last week, Musk sought to make his case to nine jurors that he was manipulated by OpenAI and Altman into giving $38 million to a nonprofit, only for the startup to turn it into a for-profit venture.The Tesla and SpaceX owner is asking the court to remove Altman and Brockman from their leadership roles at OpenAI, damages of up to $180 billion to be paid out from OpenAI’s for-profit arm to its nonprofit parent, and an unwinding of the company’s recent conversion to a more traditional corporate governance structure.If even one of these remedies is granted, it could change the course of OpenAI and the rest of the artificial-intelligence industry with it.Musk’s attorneys have pointed to private journal entries written by Brockman, obtained as part of legal discovery, to support the argument that the OpenAI founders were secretly plotting about the company’s for-profit structure.“We’ve been thinking that maybe we should just flip to a for profit,” Brockman allegedly wrote in a private journal entry in 2017.

Subscribe to enjoy similar stories.To understand why, look at OpenAI. Its success in domination of the consumer market for chatbots has become a poisoned chalice, because powering frontier models for roughly a billion active users requires enormous and expensive computing power.

Subscribe to enjoy similar stories.THE IRAN war may end up teaching America many lessons. One that it has learned the hard way is the woeful economics of using traditional weaponry against cheap Iranian drones.

Subscribe to enjoy similar stories.When Sam Altman was briefly fired, then rehired as OpenAI CEO in 2023, the company’s board of directors had fretted over what little they knew about his personal investments and whether they posed potential conflicts.A newly formed board pledged to fix the problem, but it never went away. As OpenAI, the maker of ChatGPT, hurtles toward a planned initial public offering this year, valued at around $850 billion, the question persists—how to determine whether decisions serve the company’s best interest or Altman’s.He recently asked OpenAI to lead a funding round for Helion after the nuclear-fusion startup fell behind on promises of a breakthrough energy source and began to run short on cash.

Subscribe to enjoy similar stories.The initial public offering (IPO) market is preparing for an era of superjumbo listings that threatens to shift the earth’s financial axis. With SpaceX reportedly filing for a market debut that could eclipse Saudi Aramco’s $29 billion record in size, the stakes have moved beyond mere capital raising.

Read the full story by Dhirendra Kumar.SpaceX eyes historic debut: SpaceX is heading to the stock market. Reports suggest a potential $75 billion IPO, bigger than Saudi Aramco, with a staggering valuation nearing $2 trillion.But this isn’t just another listing. With businesses spanning rockets, satellite internet (Starlink), AI (via xAI), and X (formerly Twitter), SpaceX is no longer just aerospace, it’s an integrated tech giant.

Mint explains.Reports suggest SpaceX could file for an IPO with a potential roadshow as early as June. At an estimated $75 billion, the offering would surpass Saudi Aramco’s $29.4 billion listing in 2019 by a wide margin.The proposed valuation of $1.75 trillion to $2 trillion would place SpaceX among the world’s most valuable companies, a sharp jump from its most recent private market valuation of about $800 billion.The scale is significant.

. Also under consideration: unusual lockup times that limit share sales by early investors, preferential treatment for investors in his other companies and allocating an outsize portion of shares to individual investors, people familiar with the matter said.The company is considering hosting events at SpaceX locations including its sprawling complex near the Los Angeles airport and its rocket launch site in Florida’s Cape Canaveral area, people familiar with the matter said.

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Subscribe to enjoy similar stories. “I have to giggle," says Jim Chanos, asked if investors have become overly optimistic about artificial intelligence. “We’ve got to the ‘data-centres-in-space’ stage of the cycle." Firms from SpaceX and Blue Origin to Alphabet plan to shrug off earthly constraints on the computing clusters that power AI, and launch them into orbit.

Subscribe to enjoy similar stories. The contest between Elon Musk and Jeff Bezos is only going to get more heated now that the two are directly competing for the moon. After years of charting a path to Mars, Musk surprisingly announced this past week that SpaceX is pivoting to the moon, where he wants to build a “self-growing city." That puts him in the same space camp as rival Bezos, who has bet that focusing on the moon would give his rocket company, Blue Origin, an advantage.

Subscribe to enjoy similar stories. Michael Grimes, the longtime Morgan Stanley rainmaker, spent years laying the groundwork for his bank to land a role leading the initial public offering of Elon Musk’s rocket maker SpaceX. But by the time Musk finally decided to take SpaceX public, Grimes was working in the Commerce Department, having followed the billionaire to Washington, D.C.