Musk’s xAI is being sued over its data center generators — now it’s buying $2.8B more
Elon Musk’s xAI said it will buy $2.8 billion worth of natural gas turbines over the next three years, according to SpaceX’s IPO filing.
Elon Musk’s xAI said it will buy $2.8 billion worth of natural gas turbines over the next three years, according to SpaceX’s IPO filing.
SpaceX’s IPO filing reveals xAI lost $6.4 billion in 2025 while planning a massive Grok expansion — offering the first public look at Elon Musk’s AI financials and more details about his ambitions.
SpaceX has finally made the contents of its IPO filing public, weeks ahead of what is expected to be the largest IPO ever and one that will make Musk the CEO, CTO, and chairman of the board.
Musk, who will have more than 50% of the voting power, will have a monarchical grip over the publicly-traded version of SpaceX — control that goes far beyond what other tech founders enjoy.
Elon Musk has the largest stake in SpaceX by billions of shares. The other biggest shareholders also have longstanding and deep ties to Musk.
SpaceX fueled the third-generation rocket booster and ship and was just moments away from liftoff, before calling a scrub. It’s expected to try again Friday.
The company had a mostly successful first launch of its upgraded Starship V3, which it needs to power its many ambitious goals in the years to come.
Elon Muks’s xAI has gone all in on natural gas, while SpaceX is obsessed with orbital data centers. What happened to the “solar-electric economy” he promised?
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American Airlines said Tuesday it plans to install Starlink on more than 500 Airbus aircraft, the latest carrier win for IPO-bound SpaceX.