All articles tagged with #elon musk
SpaceX is courting major investors as Elon Musk’s space and AI ventures undergo leadership churn, with exclusive visits to SpaceX facilities like Starbase and xAI’s Colossus data centers planned ahead of what could be a blockbuster IPO; the wave of senior exits at xAI, including CFO Anthony Armstrong, has raised questions about how the SpaceX–xAI empire will be governed.
Reuters reports Tesla is calling suppliers to build a new, standalone affordable electric SUV not based on the Model 3 or Model Y, with production slated first in China and then in the US and Europe, a major reversal for Elon Musk who once said cheaper EVs were pointless. The move follows the 2024 cancellation of a $25,000 “Model 2” and the release of stripped‑down Model 3/Y variants, and it raises questions about whether the new vehicle will be driverless or human‑driven as Tesla’s FSD progress continues to face hurdles.
Crypto bettors on Polymarket are pricing a 37% chance that Elon Musk will win his lawsuit against OpenAI’s Sam Altman, down from about 87% earlier; the California trial set for April 28 centers on Musk’s claim that OpenAI abandoned its founding nonprofit principles and seeks damages reportedly between $79 billion and $134 billion, with Musk saying any proceeds would go to charity. OpenAI contends Musk knew of and agreed to the for‑profit shift as early as 2017, and most bettors (roughly 63%) expect Altman to win, highlighting ongoing tensions stemming from OpenAI’s origins and its Microsoft partnership.
Intel has joined SpaceX, xAI, and Tesla in the Terafab chipmaking project, aiming to refactor silicon fab technology in Austin to produce ultra-high‑performance chips for AI inference, edge computing, and possibly space‑based training, with a target of about 1 TW/year of compute; the deal helped lift Intel’s stock and signals a strategic shift as it chips away at AI‑chip leadership.
A Delaware Chancery Court judge reassigns three Tesla shareholder lawsuits against Elon Musk to other vice chancellors after Musk's lawyers accused her of bias due to LinkedIn activity; the judge declines to recuse, citing the potential harm of excessive media attention and saying she does not endorse the posts.
All 11 xAI co-founders have left, completing a months-long exodus that began before the 2026 restructuring and accelerated after SpaceX’s all‑stock acquisition; Musk acknowledged the products needed rebuilding, signaling organizational—rather than purely financial—challenges in attracting and retaining top AI researchers amid a fiercely competitive market. Assets like the Colossus supercomputer and Grok remain, but the leadership turnover raises questions about xAI’s future direction and competitiveness.
Ross Nordeen, the last remaining cofounder of Elon Musk's xAI, has left the company as Musk reorganizes xAI ahead of SpaceX's planned IPO. Nordeen served as Musk's right-hand operator and helped coordinate priorities across the company; his departure follows a wave of leadership exits since SpaceX acquired xAI and Musk said the unit is being rebuilt from the foundations up. The reshuffle coincides with ongoing hiring and restructuring, including new senior recruits from Cursor, as xAI pursues growth in a sector valued around $250 billion.
SpaceX plans to allocate up to 30% of its forthcoming IPO to retail investors to foster long-term ownership and curb rapid selling, with Bank of America set to lead domestic retail distribution and other banks lined up for underwriting as the company targets a potential record-breaking listing in 2026.
A Texas federal judge dismissed Elon Musk’s X lawsuit accusing major advertisers (including Mars, Lego and Nestlé) of colluding via the Global Alliance for Responsible Media to boycott the platform, citing lack of jurisdiction and failure to state an antitrust claim. The suit, which linked a broader ad-industry effort to billions in ad spending withheld from X, followed years of tense advertiser relations since Musk’s 2022 takeover; X then signaled efforts to reassure brands with safety measures as it pursues an ad-revenue rebound.
US District Judge Jane Boyle dismissed Elon Musk’s antitrust lawsuit alleging advertisers conspired to boycott X after he took over Twitter, ruling there was no consumer harm and that the advertisers’ actions were not an unlawful restraint. The ruling emphasizes that antitrust claims require consumer injury, labels Musk’s discovery requests a “fishing expedition,” and suggests the case may face an appeal, even as the broader dispute with advertisers persists.
A federal judge in Texas dismissed Elon Musk’s lawsuit alleging an illegal boycott by brands against X, ruling that X failed to prove antitrust injury; the case against all defendants—including Amazon’s Twitch, Shell, Lego, Pinterest and the World Federation of Advertisers—was dismissed with prejudice.
SpaceX and other space-focused stocks jumped after reports that SpaceX could file for an IPO later this week, with an implied valuation around $1.75 trillion and a potential $75+ billion raise, lifting firms including Firefly Aerospace, Rocket Lab, Intuitive Machines, Planet Labs, Sidus Space, and AST SpaceMobile.
The White House rejected Elon Musk's proposal to pay TSA workers during the partial DHS shutdown, citing potential legal hurdles tied to his government contracts and the likelihood the shutdown will end soon, and urged Democrats to fund Homeland Security instead.
Elon Musk's lawyers asked Chancellor Kathaleen McCormick of the Delaware Court of Chancery to recuse herself from a Tesla shareholder lawsuit over her LinkedIn reaction to a post criticizing him, arguing it creates a perception of bias. McCormick says she did not read the post and reported suspicious activity after her account showed an unusual reaction; the filing seeks to reassign the case to another judge. The matter relates to Musk's past rulings and his move of companies from Delaware to Texas, and concerns allegations Musk misled about selling Tesla shares prior to the Twitter purchase.
Bloomberg reports SpaceX plans to file a US IPO prospectus as soon as this week, potentially raising over $75 billion and valuing the company at more than $1.75 trillion, a figure that would exceed prior IPO expectations and surpass Saudi Aramco’s 2019 listing.