News & Updates
The latest news and updates from companies in the WLTH portfolio.
Gas Spikes Ignite Tesla's Order Surge Amid U.S.-Iran War Chaos
Tesla's electric vehicles suddenly look like a bargain. Soaring gasoline prices, sparked by the U.S. strike on Iran and the ensuing Strait of Hormuz blockade, have handed the company its highest first-quarter order backlog in two years. CFO Vaibhav Taneja pinned part of the uptick directly on those pump prices during the Q1 2026 earnings call. Global demand rebounded. Even in the U.S., where buyers lost federal tax credits under the Trump administration, orders ticked higher. The timeline tells the story. On February 28, U.S. forces hit Iran. Tehran retaliated by choking off most traffic through the world's oil chokepoint. Prices rocketed. Experts now say normalization could take months, even after President Trump's indefinite ceasefire declaration left the strait clogged. This mess -- the biggest energy crisis on record -- exposed gas cars' Achilles' heel. And Tesla pounced. Gizmodo broke the news first, quoting Taneja on how the war-fueled surge helped 'inch those numbers up.' Deliveries climbed too. Tesla moved 358,023 vehicles worldwide in Q1 2026, topping the prior year's 336,681, as The New York Times reported. National averages topped $4 a gallon. In California, they neared $6. Consumers recalculated. Used EVs joined the party. Sales jumped 20% in the first quarter versus last year, per Los Angeles Times. Buyers like nurse Tan ditched SUVs for secondhand Teslas. 'Gas has been absolutely too expensive,' he said. Tesla models dominated searches on Cars.com. Prices for used Model Ys rose over 3% in a month, bucking broader used-car trends, according to Forbes. But not everyone cheered. EV consideration grew -- Edmunds clocked 11.6% in March -- but actual buys lagged. New sales dipped 26.8% year-over-year in spots, with used up 28.8%. Tesla's own deliveries beat expectations yet missed some Wall Street hopes, sending shares down 3% initially. Higher EV prices and borrowing costs bit back, as MarketWatch noted. Charging stayed steady while gas flew. Geopolitics amplified everything. Iran's Hormuz play disrupted 20% of global oil. Trump's ceasefire bought time, but skeptics doubt quick fixes. X chatter lit up. Gizmodo posted the story to instant buzz. Users tied APAC and South America growth to fuel strains. One analyst called it Tesla's 'operational leverage' in crisis mode. Tesla isn't coasting. Elon Musk unveiled massive spending ahead. Capex jumps to over $25 billion in 2026, from $8.5 billion last year. That's double prior forecasts. Why? A $3 billion Terafab chip plant with SpaceX for AI self-reliance. 'We just anticipate hitting the wall if we don't make chips ourselves,' Musk said. Hardware 3 can't handle unsupervised full self-driving -- only one-eighth the memory bandwidth of Hardware 4. Customers get trade-in discounts via urban micro-factories. Rivals felt the heat too. China's BYD saw accelerated sales in oil-hit regions, per AOL. Global EV sales hit records in places like Australia (14.5% share) and France (28%), fueled by discounts and steady electricity costs. Filling a BMW 3 Series? Over $110 in the UK. Charging a Model 3? About $4. History rhymes. Past spikes -- like 2008's Prius boom -- favored efficient rides. Edmunds data shows spikes nudge interest: 11.3% in August 2025 to 11.6% in March 2026. Yet America's SUV love endures. GM pushes cheap options like the $28,995 Bolt. Nissan Leaf starts at $31,485 with 303 miles range. Tesla's rebound masks headwinds. Inventory built up -- 408,000 produced versus 358,000 delivered. Tax credit axe stung. Musk's self-driving promises? Spotty, drawing lawsuits. Still, demand signals resilience. APAC and South America grew steadily. EMEA and North America snapped back. Investors watch capex warily. Tech peers pour billions into AI sans instant payoff. Tesla bets on chips, autonomy, robotaxis. If gas stays punishing, EVs win. Ceasefire or not. War drags? Orders pile higher. Tesla's playbook: spend big, deliver amid chaos. America's pump pain funds the shift.
Anthropic's Shadow Trillion: How Secondary Markets Crown the New AI King Over OpenAI
Private shares in Anthropic now trade at a $1 trillion valuation on platforms like Forge Global. That's the mark as of April 23, 2026. OpenAI trails at $880 billion there, down from its March primary round at $852 billion. Desperate buyers chase dwindling supply. Forge Global CEO Kelly Rodriques confirmed the $1 trillion hover to Business Insider. One shareholder dangled shares at $1.15 trillion. A prominent growth fund bid $1.05 trillion. Rainmaker Securities CEO Glen Anderson calls it an "epic run." "Everybody wants to be part of a generational opportunity in AI, and right now, Anthropic is in the pole position," he said. Shares vanish fast. "We get an offer, and then within a day someone else has already bought it. There are almost no sellers." Three months back, Anthropic closed Series G: $30 billion raised, $380 billion post-money, led by GIC and Coatue, per the company's announcement. Secondary prices have more than doubled since. Revenue fuels the fire. Run rate hit $30 billion by late March, up from $9 billion end-2025, according to posts from Lenny Rachitsky and others on X. But OpenAI? Tepid. "The sentiment has certainly shifted to Anthropic," Anderson noted. Its shares dip below primary valuations amid slumping demand. Anthropic's Claude models draw enterprise heat. Code generation shines. Buyers span venture firms, family offices. FOMO drives bids. Wisdom Ventures' Bradley Horowitz fields "daily offers from the ridiculous to the sublime." They hold: "We are playing a long game." OpenHome founder Jesse Leimgruber dubbed a $1.05 trillion offer "absolutely wild" on X. Secondary Surge Signals Broader AI Reordering These platforms -- Forge, Augment -- set private benchmarks. On Augment, Anthropic's Q1 trading volume tripled, share price up 59%, implying $613 billion by quarter-end, WSJ Pro reported April 17. U.S. venture secondaries hit $106 billion in 2025, per PitchBook, nearing IPO scale. Investors bet on IPOs. Anthropic whispers surface. VCs pitched up to $800 billion weeks ago, another Business Insider piece detailed. Amazon piled on: $5 billion fresh at around $350-380 billion base, up to $20 billion more tied to milestones, per Quartz April 22. Revenue tells why. $1 billion ARR December 2024. $9 billion December 2025. $19 billion February 2026. $30 billion April. Explosive. TechCrunch noted April 14 how this erodes OpenAI confidence, with shares discounted there too (link). Sellers scarce. Employees, early backers cash out little. Saints Capital's Ken Sawyer tracks it. Demand feverish. Anderson again: It's less returns, more bragging rights. "It's almost less about the return than being able to say they're an Anthropic investor." Rivals watch. Euronews pegged VC offers at $800 billion April 18, tying OpenAI then (link). Now flipped. X buzz confirms: StockStorm, Six Markets hailed the trillion cross April 17. Risks lurk. No profitability till 2027, some reports whisper. Compute crunches. But momentum rules secondaries. Anthropic overtook. OpenAI scrambles enterprise pivot. Trillion-dollar private club grows. SpaceX eyes $1.75 trillion IPO. OpenAI chased $852 billion primary. Anthropic leads shadow markets. Insiders race in. Sellers? Nowhere. Markets price belief. Claude's edge. Revenue rocket. IPO path clears. Anthropic sits pole position.
Elon Musk's SpaceX Teams Up With Cursor for AI Coding: How Rockets and AI Fit Together
Elon Musk's SpaceX announced on Wednesday that it is partnering with coding platform Cursor to build new AI models. As part of this deal, Cursor gave SpaceX the right to acquire the company later this year for $60 billion or to pay $10 billion for their work together. Cursor said in a blog post that its work has been "bottlenecked by compute," meaning it hasn't been able to develop more advanced models due to a lack of the necessary hardware and computing power. SpaceX's Colossus supercomputer, a data center-like complex in Memphis, Tennessee, is the solution, the two companies agreed. SpaceX said the supercomputer has the equivalent of a million H100 Nvidia chips, one of the most popular GPUs for AI development. The deal highlights the growing role of agentic coding tools beyond just software companies and developers. The potential acquisition also raises the possibility that Cursor could bring agentic coding abilities to xAI's Grok, a notable hole in its current offerings compared to popular competitors like Anthropic and OpenAI. Here's what you need to know about the deal. Cursor is an AI coding platform meant to help software engineers and vibe code enthusiasts alike. Composer's coding model, Cursor, is agentic. That means it can autonomously write code and run tasks. Nvidia CEO Jensen Huang called Cursor his "favorite enterprise AI service" in an October interview. The AI industry is fickle, and the opinion of a major leader like Huang isn't just free marketing -- it controls funding, directs research, shapes public opinion and ultimately determines whether a company is successful. The new partnership with SpaceX is likely to help solidify Cursor as a household name. These kinds of AI coding tools, like Anthropic's Claude Code and OpenAI's Codex, have been very popular this year due to their ability to create things with AI, compared to a chatbot giving an answer based on existing information. They've also sparked a lot of debate and concern about the future of the software business as AI agents become increasingly capable of helping real humans. The SpaceX and Cursor partnership is most immediately about getting the resources to create more advanced AI models, with the lofty goal of creating "the world's best coding and knowledge work AI." That could certainly be used in SpaceX's rocket launches, but the scale of its business means the AI could be used in a variety of ways. SpaceX and Cursor did not immediately respond to requests for additional comment. Elon Musk has talked at length about transforming X (formerly Twitter) into his dream super app, similar to China's WeChat, which does social media, payments, messaging and more. While X is still solidly a social media app, with a heavy dose of Grok AI, he's building out an mega-congolmerate of companies under the X name. In February, SpaceX merged with xAI. That deal brought SpaceX's rocket business, Starlink satellites, the X social media platform and xAI's Grok chatbot under one parent company. Tesla isn't included. The Grok AI chatbot is probably best known now for creating nonconsensual sexual AI images, which prompted outrage and investigative inquiries at the beginning of the year. Adding Cursor to SpaceX and, theoretically, xAI's business would bolster its appeal to enterprise customers who want coding tech for work. The merger would bolster SpaceX's anticipated summer IPO, which would take the company public and allow people to buy shares of stock. Initial estimates say SpaceX could have the largest IPO ever, valued at $1.75 trillion. Musk has a financial stake or executive title in each business, so a successful merger and IPO would make the world's richest person even richer. There's no guarantee that SpaceX will acquire Cursor at the end of its deal. Bloomberg reported that the structure of the Cursor deal is partly because an outright acquisition now could further complicate the planned IPO -- already a nightmare of filings and paperwork. Musk is also a notoriously mercurial businessman, changing his mind and direction many times before deals are officially sewn up. His acquisition of Twitter was a long, drawn-out saga, where he tried to back out of his purchase before ultimately taking over and immediately changing the platform.
Elon Musk Gets 'Moonshot' SpaceX Pay Package: Here's What That Means - Tesla (NASDAQ:TSLA)
Elon Musk is about to take SpaceX public on terms that would get most CEOs laughed out of a roadshow. Investors are lining up to buy in. It is the governance setup Musk has publicly admitted he wishes he had locked in at Tesla Inc. (NASDAQ:TSLA) in 2010, where his roughly 18% stake leaves him technically removable. What Polymarket Is Pricing Polymarket traders give SpaceX a 72% chance of going public by June 30th and price a $1 trillion-plus closing market cap on day one at 93%. A $2 trillion debut is closer to a coin flip at 56%. That would edge out Saudi Aramco's 2019 listing as the largest IPO in history. Kalshi traders think there is a 3% chance that Trump will nationalize SpaceX before July 2026. The Power Grab Nobody Is Pushing Back On Shareholders will also have no say on pay. Tesla investors approved a potential $1 trillion award for Musk in November, and SpaceX's board has now granted him a second "moonshot" package tied to a market value as high as $6.6 trillion, according to The Information. Musk could be running two trillion-dollar incentive schemes in parallel, with compensation consultants warning he has obvious reasons to prioritize whichever looks more winnable at any given moment. He already owns roughly 40% of SpaceX after the February xAI merger. The IPO, the pay package, and the supervoting shares are designed to make sure that number only goes up. Image: Shutterstock Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.
Florida fund manager hits WCEP with fraud suit over SpaceX '0/0' pitch
The lawsuit, Megacap Capital, LLC v. West Coast Equity Partners II, LLC, No. 0:26-cv-61179 (S.D. Fla.), lands at a sensitive moment for the private markets. With a SpaceX IPO reportedly planned for mid-June, advisors steering wealthy clients into late-stage pre-IPO deals are getting a fresh look at what can go wrong when a fund sponsor controls pricing, paperwork, and the cap table all at once. Megacap Capital, a Florida-based sponsor that runs two feeder funds for SpaceX and a pre-IPO technology company, says in the filing that it was pitched SpaceX shares in 2021 at "$580 0/0" -- meaning $580 a share with no upfront fee and no management fee. According to the filing, that same promise was written into the offering memorandum and operating agreement, which stated the manager would receive no commissions or fees and that the management fee would be 0%. Megacap says it wired $375,260 for the SpaceX position and later wired roughly $4.2 million for the tech deal.
SpaceX files confidentially for IPO, potential $2T valuation
The June 30 market moved up on news of SpaceX's potential $1.75-2 trillion valuation. The September 30 IPO market sits at 91.5%, and the December 31 market is at 92.5%. The spread between the April 30 and June 30 markets, a 70-point leap, suggests traders expect a catalyst within the next two months. SpaceX is filing alongside other large private companies like OpenAI and Anthropic that are also moving toward public listings. SpaceX's filing during the Iranian conflict doesn't suggest an escalation, pointing instead to a focus on macroeconomic stability. The size of SpaceX's expected valuation makes this one of the largest IPO candidates in history. What to watch Daily volume on the June 30 market is $1,155 in USDC, with $4,330 needed to shift the price by 5 percentage points. This is a moderately liquid market where a single large trade can move the price. The largest recent move was a 2-point spike at 1:50 PM after the filing news. Buying YES at pays if SpaceX goes public by June 30. That bet requires believing the IPO process accelerates in the coming weeks. Key signals: completion of the confidential filing process, a public S-1 filing, or IPO pricing announcements. Any of these would likely drive sharp movement in the market.
Microsoft reportedly explored buying Cursor as SpaceX secures rights to acquire the AI startup for $60 billion
Microsoft reportedly explored acquiring AI coding startup Cursor before SpaceX secured the rights to acquire the company in a deal valued at $60 billion. According to a CNBC report, people familiar with the matter claim that Microsoft considered making a move as part of its broader efforts to expand its position in the growing market for AI development tools. However, the company ultimately decided not to proceed with the bid.This move is happening at a time of stiff competition in the AI code-generation tool market, with all players focusing on developing software assistants for developers. Though Microsoft has been making good progress with its GitHub Copilot tool, Cursor has also made strides in this market segment. Microsoft has also positioned itself as an investor and cloud provider, supporting AI companies through its Azure platform.SpaceX confirmed earlier this week that it has agreed to acquire Cursor by the end of the year or pay the company $10 billion if the deal does not go through. In a post on X, the company said, "SpaceXAI and @cursor_ai are now working closely together to create the world's best coding and knowledge work AI." Cursor CEO Michael Truell added on X that he's "excited to partner with the SpaceX team to scale up Composer," referring to the company's AI model.The agreement comes near the end of Cursor's fundraising phase, with some potential investors reportedly caught off guard by the development. Cursor's venture capital firms first raised capital for it at a valuation of about $50 billion amid high demand for app-building tools. SpaceX had also offered Cursor access to compute resources in the weeks leading up to the announcement.The move follows Elon Musk's decision earlier this year to merge SpaceX with his AI startup xAI in a deal valued at $1.25 trillion as the combined entity prepares for a potential public listing.Meanwhile, Microsoft continues to expand its AI offerings. Earlier this year, Microsoft CEO Satya Nadella said that GitHub Copilot had 4.7 million paying subscribers, reflecting growth in adoption. At the same time, OpenAI's Codex has reached 4 million active users, while Anthropic's Claude Code service has seen increased usage, helping the company reach $30 billion in annualised revenue.
Investing $5,000 in SpaceX IPO: Potential Returns in 5 Years
SpaceX is gearing up for one of the most anticipated initial public offerings (IPOs) in history. The company has filed confidentially with the Securities and Exchange Commission (SEC) and aims for a listing around June 2026. This IPO seeks to raise approximately $75 billion, potentially valuing SpaceX at over $2 trillion. Impact of SpaceX's Valuation on the Market If successful, this would position SpaceX among the top six most valuable publicly traded companies, closely following Amazon in market valuation. Unique Share Allocation for Retail Investors Notably, SpaceX plans to allocate 30% of its IPO shares to retail investors. This is significantly higher than the typical allocation, though demand is expected to vastly outstrip supply. Understanding SpaceX's Business Model While SpaceX is known for its space-launch capabilities, its main revenue driver is Starlink, a satellite internet service. In 2025, Starlink generated nearly $12 billion, constituting about 60% of SpaceX's total revenue. Starlink is also the only part of SpaceX currently profitable, boasting EBITDA margins exceeding 60%. In contrast, the launch business operates on tight margins with cash inflows nearly equal to outflows but maintains a dominant position in the global commercial spaceflight market. Investment Scenarios for SpaceX Investors eyeing SpaceX's IPO often wonder about the potential returns. If one were to invest $5,000 on the first day of trading, various scenarios could unfold over the next five years: * Bull Case: An annualized return of 20% could make the investment worth $12,442, assuming robust growth in Starlink and successful ventures into orbital data centers. * Base Case: A more conservative annualized return of 7% would result in a total valuation of $7,013, reflecting steady progress in the company's operations. * Bear Case: A potential decline of 15% could diminish the investment to $2,218, suggesting possible challenges in meeting bold growth expectations. Challenges and Skepticism Despite the optimistic outlook, some analysts express skepticism regarding the sustainability of high growth rates. Challenges include increased competition and potential limitations on pricing power for Starlink, particularly in developed regions. SpaceX's ambitions in artificial intelligence with xAI and plans for orbital data centers also raise concerns. Analysts point out practical difficulties associated with deploying data centers in space, affecting long-term profitability. The Bottom Line on SpaceX's IPO Ultimately, the future of a $5,000 investment in SpaceX could vary dramatically based on market conditions and the company's execution strategy. High-multiple growth stocks like SpaceX inherently carry risk, leading to unpredictable outcomes. Investors should weigh the potential rewards against the risks as they consider participation in this landmark IPO.
Forget SpaceX Stock -- Is RocketLab the Better Buy? | The Motley Fool
Could RocketLab stock, which is already public traded, offer a better alternative to its mighty competitor? Most investors are on the lookout for stocks that give exposure to untapped growth industries. And it's natural to pay attention to reports that Elon Musk's leading space company, SpaceX, could soon hit public markets through an initial public offering (IPO). But while this is exciting, all that glitters is not gold. Let's dig deeper into the potential pitfalls of buying SpaceX stock when it becomes available and compare it to a much smaller alternative called RocketLab (RKLB 7.83%), which is already publicly traded. Last week, SpaceX executives began meeting with bankers to outline plans for the stock's public launch in June. And according to Reuters, they have a target valuation of $1.75 trillion. Not only will it be the largest IPO in history, but it could also have the highest amount of shares allocated to retail investors at 30%, compared to the usual 5% to 10%. The report suggests that SpaceX's CEO, Elon Musk, wants mom-and-pop investors to have a larger ownership stake in the company relative to more-sophisticated institutional investors. However, this decision could cause the equity to trade like a meme stock, where the valuation often becomes detached from a realistic assessment of growth and earnings. Investors should make sure to remain grounded in SpaceX's fundamentals instead of getting carried away by the excitement and hype. There are already some potential concerns that could make the stock risky. The first and most obvious drawback of the SpaceX IPO will be its size. The company's estimated market capitalization of $1.75 trillion would make it the eighth-largest company in the world, ahead of giants like Tesla and Meta Platforms. The difference is that these other businesses allowed retail investors to get in on the ground floor of their growth journeys, while SpaceX investors will have to buy shares potentially near the top. There are signs that the space company is maturing. Private market research firm Sacra estimates revenue grew by 18% year over year in 2025. While that's a decent number, it represents a sharp decrease from rates of 51% and 89%, respectively, in 2024 and 2023. SpaceX's pivot to generative artificial intelligence (AI) could also pose some risks. In February, the company purchased Musk's large language model (LLM) developer, xAI, in a stock deal worth $250 billion. The AI industry is extremely competitive, and while the deal could give the combined company a new growth driver, it also runs the risk of increasing losses and burning through cash that could have otherwise gone to shareholders. The Information, a technology news website, reports that SpaceX lost $5 billion in 2025, largely due to unprofitable AI-related spending. Investors who want exposure to the space industry without the slowing growth and generative AI risk involved in SpaceX have an alternative. RocketLab is a pure play that focuses on transporting payloads into low Earth orbit. With a market capitalization of $49 billion, it offers room for long-term growth, and it plans to ramp up its scale with the launch of a new, higher-capacity rocket called the Neutron later this year. That said, while RocketLab looks like a better buy than SpaceX, it is not without its risks. With a price-to-sales ratio (P/S) of 74, shares are already priced for perfection. And delays in the launch could lead to a market sell-off. Overall, investors should remember that space is still a relatively speculative and unproven industry. And whichever space stock you choose, it is best to only have moderate exposure as part of a diversified portfolio.
Even SpaceX Doesn't Believe SpaceX's Hype About Space AI And Moon Cities - Jalopnik
Remember those halcyon days when SpaceX believed it was on the cusp of transforming humanity? It feels like only just this year that SpaceX was filing to launch one million AI data center satellites into orbit, something it claimed would be "a first step toward becoming a Kardashev Type II civilization." I am even old enough to remember when CEO Elon Musk said the company planned to build "a self-growing city on the Moon," all part of a plan to "extend consciousness and life as we know it to the stars." Such dreams, SpaceX had! Such aspirations! Well, that was all before the space juggernaut quietly filed for an IPO, and now, the tune is a little different. Reuters got ahold of the S-1 filing of the world's most valuable private company, which lays out financial information and known risks for potential investors. In it, SpaceX writes: Our initiatives to develop orbital AI compute and in-orbit, lunar, and interplanetary industrialization are in early stages, involve significant technical complexity and unproven technologies, and may not achieve commercial viability. This is obviously a serious business document for serious business people, so the language is more restrained than Musk's bluster. But SpaceX is aiming for a colossal $1.75 trillion valuation, which just so happens to be just larger than the current record-holder, Saudi Aramco in 2019 at $1.7 trillion. That gigantic figure is only justifiable if SpaceX is about to rewrite history. So any sense that SpaceX might fall short is a risk. "May not achieve commercial viability" is about as short as it gets!
Forget SpaceX Stock -- Is RocketLab the Better Buy?
Could RocketLab stock, which is already public traded, offer a better alternative to its mighty competitor? Most investors are on the lookout for stocks that give exposure to untapped growth industries. And it's natural to pay attention to reports that Elon Musk's leading space company, SpaceX, could soon hit public markets through an initial public offering (IPO). But while this is exciting, all that glitters is not gold. Let's dig deeper into the potential pitfalls of buying SpaceX stock when it becomes available and compare it to a much smaller alternative called RocketLab (NASDAQ: RKLB), which is already publicly traded. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue " Last week, SpaceX executives began meeting with bankers to outline plans for the stock's public launch in June. And according to Reuters, they have a target valuation of $1.75 trillion. Not only will it be the largest IPO in history, but it could also have the highest amount of shares allocated to retail investors at 30%, compared to the usual 5% to 10%. The report suggests that SpaceX's CEO, Elon Musk, wants mom-and-pop investors to have a larger ownership stake in the company relative to more-sophisticated institutional investors. However, this decision could cause the equity to trade like a meme stock, where the valuation often becomes detached from a realistic assessment of growth and earnings. Investors should make sure to remain grounded in SpaceX's fundamentals instead of getting carried away by the excitement and hype. There are already some potential concerns that could make the stock risky. The first and most obvious drawback of the SpaceX IPO will be its size. The company's estimated market capitalization of $1.75 trillion would make it the eighth-largest company in the world, ahead of giants like Tesla and Meta Platforms. The difference is that these other businesses allowed retail investors to get in on the ground floor of their growth journeys, while SpaceX investors will have to buy shares potentially near the top. There are signs that the space company is maturing. Private market research firm Sacra estimates revenue grew by 18% year over year in 2025. While that's a decent number, it represents a sharp decrease from rates of 51% and 89%, respectively, in 2024 and 2023. Image source: Getty Images. SpaceX's pivot to generative artificial intelligence (AI) could also pose some risks. In February, the company purchased Musk's large language model (LLM) developer, xAI, in a stock deal worth $250 billion. The AI industry is extremely competitive, and while the deal could give the combined company a new growth driver, it also runs the risk of increasing losses and burning through cash that could have otherwise gone to shareholders. The Information, atechnology newswebsite, reports that SpaceX lost $5 billion in 2025, largely due to unprofitable AI-related spending. Investors who want exposure to the space industry without the slowing growth and generative AI risk involved in SpaceX have an alternative. RocketLab is a pure play that focuses on transporting payloads into low Earth orbit. With a market capitalization of $49 billion, it offers room for long-term growth, and it plans to ramp up its scale with the launch of a new, higher-capacity rocket called the Neutron later this year. That said, while RocketLab looks like a better buy than SpaceX, it is not without its risks. With a price-to-sales ratio (P/S) of 74, shares are already priced for perfection. And delays in the launch could lead to a market sell-off. Overall, investors should remember that space is still a relatively speculative and unproven industry. And whichever space stock you choose, it is best to only have moderate exposure as part of a diversified portfolio. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a "Double Down" stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Right now, we're issuing "Double Down" alerts for three incredible companies, available when you join Stock Advisor, and there may not be another chance like this anytime soon. Will Ebiefung has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Meta Platforms, Rocket Lab, and Tesla. The Motley Fool has a disclosure policy.
When will SpaceX and Anthropic IPO? SuRo CEO says quality drives decision
Investing.com -- The pipeline of highly anticipated potential initial public offerings represents a significant opportunity for public market investors, but the timing of landmark listings from companies like SpaceX, OpenAI and Anthropic will ultimately be driven by strategic conditions rather than necessity, according to SuRo Capital CEO Mark Klein. In an exclusive interview with Investing.com, Klein argued that the most consequential names approaching the public markets are under no pressure to list. "Companies like SpaceX, Anthropic, and OpenAI have demonstrated a sustained ability to raise significant capital in the private markets," he said, adding that they "will initiate IPOs when they determine the market environment optimally supports their valuation and strategic goals." With broader markets around all-time highs, Klein noted there is a "clear increase in market attention for these offerings." On concerns that a wave of large IPOs could drain market liquidity, Klein pointed to the scale of available capital. OpenAI's recent financing, he said, demonstrates that "substantial capital remains available and ready to be deployed into high-quality assets." "Given this demand for companies like those in our portfolio and the broader categories we invest in, we believe SuRo plays an important role in the current ecosystem," he added. "We offer an advantage by providing investors with pre-IPO exposure to these companies, combined with the liquidity of a publicly traded stock, allowing our shareholders to participate in value creation well before a public offering." Klein struck a notably different tone on the current IPO pipeline compared to the 2020-2021 boom. "While the 2020 and 2021 period was characterized by high valuations and subsequent market corrections, the current pipeline features companies with strong, demonstrable financial metrics." He cited Canva, with 265 million monthly active users and $4 billion in revenue, and Whoop, which is delivering 100% annual growth, as examples of companies with the structural scale to support their valuations. Both names are SuRo Capital portfolio companies. SuRo's own net asset value was expected to rise to between $14.00 and $14.50 per share as of March 31, 2026, driven in part by OpenAI's latest financing round and WHOOP's Series G at a $10.1 billion valuation. The company previously remarked that the developments "reinforce both the scale of demand we are seeing and the continued maturation of several notable pre-IPO businesses within our portfolio."
SpaceX's IPO Will Help Elon Musk Consolidate Power. Investors Welcome It.
Musk is poised to have even more sway at his rocket-maker, SpaceX, which is aiming to go public in June. Ethan Swope/Bloomberg News Tesla's TSLA -1.95%decrease; red down pointing triangle shareholders already give Elon Musk leeway, entertaining the billionaire's whims as he plows money into robots and blessing a $1 trillion pay package that will pay out if he hits long shot targets. He is poised to have even more sway at his rocket-maker, SpaceX, which is aiming to go public in June. SpaceX's board has already granted him its own "moonshot" pay package, people familiar with the matter say. And, unlike at Tesla, the billionaire is expected to control SpaceX through the use of so-called supervoting shares, the people said. While such moves raise the eyebrows of many corporate-governance experts -- until as recently as 2023, the S&P 500 banned companies with dual-class shares from entering its index -- investors large and small seem so eager for a piece of Musk that they are willing to overlook and even welcome such founder-friendly terms. Musk and his associates are pitching existing and prospective investors on SpaceX's IPO this week in Starbase, the company town outside of Brownsville, Texas, where SpaceX builds and launches its Starship rockets. Several existing SpaceX investors say they welcome the moves to keep Musk's interests aligned with their own. SpaceX representatives have been telling investors they already have enough interest in the IPO from a mix of institutional investors and sovereign-wealth funds to raise the $40 billion to $80 billion they envision. And that is before factoring in the individual investors, who SpaceX hopes will buy one-third or more of the offering's shares, well above the typical portion. While most SpaceX shareholders will hold Class A shares with one vote each on company matters, Musk and other key executives are expected to hold Class B shares that get 10 votes each, the people familiar with the matter said. Part of the motivation for giving himself and other key executives supervoting shares at SpaceX is to consolidate power from the beginning, which Musk didn't do ahead of Tesla's 2010 IPO, other people familiar with the matter say. He has publicly expressed frustration that he could be voted out of the electric-vehicle maker, where he holds roughly 18% of the company's single share class, including options he could exercise any time, according to Verity Platform, which tracks insider share ownership. Musk owned around 40% of SpaceX at the end of last year, according to public filings. That stake has likely grown since he merged SpaceX with his artificial-intelligence company xAI in February. Supervoting shares at SpaceX could also make it easier for Musk to one day merge Tesla and SpaceX, which many investors believe is his ultimate goal. SpaceX was valued at around $1.25 billion following the xAI deal. If it debuts at the even higher valuation envisioned, Musk would lead two of the roughly 10 or so public U.S. companies with valuations above $1 trillion. He would also hold two moonshot pay packages, which corporate-governance experts warn could motivate him to devote most of his time and energy to whichever seems most likely to pay off. "He's obviously a high-powered person, and people can multitask, but there is at least the potential for some divided loyalties," said Margaret Engel, founding partner at pay-consultancy Compensation Advisory Partners. The Information reported earlier this week that SpaceX plans to award Musk tens of millions of shares if the company's market value reaches as high as $6.6 trillion, among other things. The pay package that Tesla shareholders approved for Musk in November could pay out $1 trillion in stock if he hits such goals as delivering millions of cars and a million robots, increasing the company's market value to $8.5 trillion from its $1.5 trillion high last year and pushing profitability dramatically. The company's board called the arrangement key to keeping Musk engaged with the company, given his many other projects. On Wednesday, Tesla surprised Wall Street with better-than-expected profits and free cash flow, while also forecasting $25 billion in capital expenditures this year as it spends on AI compute and new factories.
SpaceX may build its own GPUs to reduce chip supply risks
Serving tech enthusiasts for over 25 years. TechSpot means tech analysis and advice you can trust. What we know so far: SpaceX may be about to take on one of the most difficult jobs in the tech industry: making its own AI chips. According to reports, the company has warned prospective investors that chip supply constraints and the cost of securing enough compute hardware could become a serious problem. As such, it's now considering manufacturing its own GPUs. The disclosure appears in excerpts from SpaceX's S-1 filing ahead of its expected IPO this summer. Reuters says the filing lists "manufacturing our own GPUs" among the "substantial capital expenditures" the company is taking on. The filing acknowledges that SpaceX still expects to rely heavily on third-party suppliers for a significant portion of its compute hardware. The company also said it does not have long-term contracts with many of its direct chip suppliers, leaving it more exposed to shortages or price spikes. Elon Musk outlined a joint Tesla, SpaceX, xAI, and Intel chipmaking effort last month called Terafab, an advanced manufacturing complex planned for Austin, Texas. SpaceX's reported in-house GPU ambitions appear to tie directly into that same project, which is supposed to help produce the processors needed for cars, humanoid robots, and space-based data centers. It seems the plan isn't just about reducing Nvidia dependence; it appears to align with Musk's broader push to expand in-house AI infrastructure across his companies. Wanting to build GPUs and actually doing it are two very different things, of course. Producing cutting-edge chips requires billions of dollars, highly specialized materials, and a manufacturing process involving well over a thousand tightly controlled steps. It's still unclear when SpaceX plans to manufacture its own chips, whether "GPU" is being used precisely or as a catch-all label for AI processors, and which company would handle the fabrication technology inside Terafab. The report notes that SpaceX's filing frames compute hardware as a potential operational and financial risk, particularly given its reliance on outside suppliers and the lack of long-term contracts with some of them. Reuters says SpaceX's filing identifies compute hardware as a potential operational and financial risk because of its dependence on outside suppliers and the absence of long-term contracts with some of them. It also leaves several questions unanswered, including what role Terafab would play in that effort.
When will SpaceX and Anthropic IPO? SuRo CEO says quality drives decision By Investing.com
Investing.com -- The pipeline of highly anticipated potential initial public offerings represents a significant opportunity for public market investors, but the timing of landmark listings from companies like SpaceX, OpenAI and Anthropic will ultimately be driven by strategic conditions rather than necessity, according to SuRo Capital CEO Mark Klein. In an exclusive interview with Investing.com, Klein argued that the most consequential names approaching the public markets are under no pressure to list. "Companies like SpaceX, Anthropic, and OpenAI have demonstrated a sustained ability to raise significant capital in the private markets," he said, adding that they "will initiate IPOs when they determine the market environment optimally supports their valuation and strategic goals." With broader markets around all-time highs, Klein noted there is a "clear increase in market attention for these offerings." On concerns that a wave of large IPOs could drain market liquidity, Klein pointed to the scale of available capital. OpenAI's recent financing, he said, demonstrates that "substantial capital remains available and ready to be deployed into high-quality assets." "Given this demand for companies like those in our portfolio and the broader categories we invest in, we believe SuRo plays an important role in the current ecosystem," he added. "We offer an advantage by providing investors with pre-IPO exposure to these companies, combined with the liquidity of a publicly traded stock, allowing our shareholders to participate in value creation well before a public offering." Klein struck a notably different tone on the current IPO pipeline compared to the 2020-2021 boom. "While the 2020 and 2021 period was characterized by high valuations and subsequent market corrections, the current pipeline features companies with strong, demonstrable financial metrics." He cited Canva, with 265 million monthly active users and $4 billion in revenue, and Whoop, which is delivering 100% annual growth, as examples of companies with the structural scale to support their valuations. Both names are SuRo Capital portfolio companies. SuRo's own net asset value was expected to rise to between $14.00 and $14.50 per share as of March 31, 2026, driven in part by OpenAI's latest financing round and WHOOP's Series G at a $10.1 billion valuation. The company previously remarked that the developments "reinforce both the scale of demand we are seeing and the continued maturation of several notable pre-IPO businesses within our portfolio." For investors holding pre-IPO companies, Klein explained that SuRo's general approach once portfolio companies go public is to begin monetizing holdings after lockup periods expire and share prices stabilize, at which point public investors can access those names directly.
Elon Musk's aerospace and AI company reportedly plans to make its own GPUs, though I doubt you'll one day be enjoying a SpaceX graphics card in your rig
SpaceX, the private aerospace and AI company founded by Elon Musk, is reportedly planning to make its own GPUs in the not too distant future. The company plans to go public this summer, with an expected IPO of $1.75 trillion. Part of that process involves filing an S-1 registration with the U.S. Securities and Exchange Commission, which details a company's finances and risks prior to going public. Reuters reviewed an excerpt of this document, and spotted that SpaceX lists "manufacturing our own GPUs" under its "substantial capital expenditures." Now, you and I think of a very distinct, game-ready thing when we hear the term 'GPU', but I suspect SpaceX's plans don't fully fall upon the same page. The odds are these chips will be more specifically geared towards some sort of AI workload, not unlike Google's tensor processing units (or TPUs, if you were hankering for yet another hardware initialism). It's not yet clear exactly how much cash SpaceX might be pouring into this hardware endeavor, but it's hardly a surprising development given Musk's recent team up with Intel. This partnership will see Intel "design, fabricate, and package ultra-high-performance chips at scale" in order to "accelerate Terafab's aim to produce 1 TW/year" in compute power. For those that need the refresher, the Terafab project is an advanced AI chip manufacturing complex planned to be built in Austin, Texas. The massive project currently intends to handle chip fabrication, packaging, and testing. It is a megazord effort between SpaceX's xAI unit and Tesla, though it's not yet clear the exact type of chips this fab will produce. Most recently, Musk said in an earnings call that Terafab will "use Intel's 14A process, which is state-of-the-art and in fact not yet totally complete. But given that by the time Terafab scales up, 14A will be probably fairly mature or ready for prime time, 14A seems like the right move." To return to SpaceX's GPU plans, it's currently unclear whether a partner such as Intel will fabricate these, or the company will look elsewhere. It's kind of a weird time to announce any fresh hardware venture, especially as GPU giant Nvidia's main manufacturing partner TSMC has its hands very full and many other production lines are similarly fit to busting. Perhaps unsurprisingly then, SpaceX admits in that aforementioned S-1 registration that it does not "have long-term contracts with many of our direct chip suppliers." The document continues, "We expect to continue sourcing a significant portion of our compute hardware from third-party suppliers, and there can be no assurance that we will be able to achieve our objectives with respect to Terafab within the expected timeframes, or at all." That's probably not the most attractive prospect for investors, but time can only tell whether SpaceX and its GPU efforts entices some sharks.
SpaceX partners with Pakistan-born Sualeh Asif's AI startup Cursor
SAN FRANCISCO: SpaceX announced a partnership with AI coding company Cursor, an AI code-generation startup co-founded by Pakistan-born Sualeh Asif, and said the alliance comes with an option to buy the startup for $60 billion later this year. The move by Elon Musk's rocket and satellite company comes as it prepares to become publicly traded, and shortly after it took over the billionaire's artificial intelligence outfit xAI. Cursor, founded in 2022 and based in San Francisco, specialises in AI for creating software code, particularly for business uses. "SpaceXAI and @cursor_ai are now working closely together to create the world's best coding and knowledge work AI," the company said in a X post on Tuesday. Combining Cursor's software and product expertise with SpaceX's "Colossus" AI training supercomputer will enable the company "to build the world's most useful models," it said. The partnership comes as AI sector rivals vie to be the preferred option for software developers. Cursor competes with Microsoft's social coding platform GitHub, which has been a leading resource in the developer community. OpenAI announced on Tuesday that its coding tool, Codex, has grown to four million weekly users, up from three million just weeks ago. Meanwhile, Anthropic has put out word that revenue from its Claude Code tool for developers has surged. It is pertinent to mention here that Karachi-born Asif joined Nixor College before attending the Massachusetts Institute of Technology (MIT), and represented the country in the International Math Olympiad from 2016 to 2018. Meanwhile, he cofounded Anysphere, the maker of the popular AI code editing tool Cursor, with three of his friends from MIT. The company now has over $1bn in annualised revenue, making it one of the fastest-growing AI startups, says Forbes. Musk announced in February that SpaceX would acquire xAI, a step in his plan to launch solar-powered, satellite-based data centers to run future AI models. SpaceX has set the pace in the space launch market, offering reusable rockets that vastly reduce the cost of putting satellites into orbit and itself owning the largest satellite constellation, Starlink. The company is set for a stock market listing this year widely expected to be the biggest in history, with media reports pointing to an initial public offering (IPO) as early as June. Musk called SpaceX's absorption of xAI "not just the next chapter, but the next book" for the companies. "Global electricity demand for AI simply cannot be met with terrestrial solutions... The only logical solution therefore is to transport these resource-intensive efforts to a location with vast power and space," Musk wrote when his companies were merged. The project fits into Musk's long-term ambition to build colonies on the Moon and Mars and is "a first step towards becoming a Kardashev II-level civilization," he wrote. Coined in the 1960s by a Soviet astronomer, the futurist term refers to a civilization able to use all of the energy from its home system's star. SpaceX filed papers early this year with US regulators that set the stage for what could be the largest-ever public stock offering, a source familiar with the matter told AFP. The confidential filing puts the rocket and satellite builder on track to list its shares on a public exchange by July, according to The Wall Street Journal, citing unidentified sources. Media reports have said the initial public offering could be valued at a whopping $75 billion or more, for a venture with stratospheric ambitions. If successful, SpaceX could arrive on Wall Street with a valuation exceeding $1.75 trillion, putting it among the world's ten biggest companies by market capitalization. Besides SpaceX, two other tech heavyweights, the AI developers OpenAI and Anthropic, are reportedly planning IPOs this year.
SpaceX Secures $57M SSC Contract for Link-182 Space Comms
SpaceX has received a $57.3 million contract from the U.S. Air Force to develop and demonstrate a space-to-space communications system as part of efforts to strengthen U.S. military capabilities. The SpaceX contract underscores continued efforts to advance air and space defense through emerging technologies. These priorities will take center stage at the Potomac Officers Club's 2026 Air and Space Summit on July 30. Register now. What Does the Contract Cover? The Department of War said Wednesday the firm-fixed-price contract supports the Link-182 space-to-space communications system. The work includes the acquisition, development and testing of resilient space technologies designed for proliferated low Earth orbit. What Are the Details of the Contract? The project will take place in Hawthorne, California, and will run through April 30, 2027. The award was issued following a competitive process that drew six bids. At the time of award, the Space Systems Command, which manages the contract, obligated $57.3 million in fiscal 2026 research, development, test and evaluation funding. Other Space Force Awards to SpaceX The latest award builds on SpaceX's ongoing work with the U.S. Space Force. In April, Space Systems Command awarded the company a $178.5 million task order for launches under the National Security Space Launch, or NSSL, Phase 3 Lane 1 program. Earlier, the company received nine task orders totaling $739 million for Lane 1 launch services under the same program. In October 2025, SpaceX and United Launch Alliance were selected to carry out the first seven launches under the NSSL Phase 3 Lane 2 contracts.
SpaceX targets in-house GPUs, warns of substantial capital expenditures
SpaceX might be tackling one of the biggest challenges in the chip business: manufacturing the keys to powering artificial intelligence (AI) called graphics processing units, or GPUs. Ahead of SpaceX's US$1.75 trillion initial public offering expected this summer, the company has warned prospective investors of its big spending plans to develop AI and other technologies. It lists "manufacturing our own GPUs" among the "substantial capital expenditures" it is undertaking, according to excerpts of its S-1 registration. Companies file this document to the US Securities and Exchange Commission to disclose their risks and finances before going public. SpaceX did not immediately respond to a request for comment, and the size of the expected expenditure could not be determined. The ambition follows work by SpaceX, its xAI unit and Tesla to jointly develop the Terafab, an advanced AI chip manufacturing complex that chief executive officer Elon Musk is planning in Austin, Texas. Although Musk has said the project would target chips for cars, humanoid robots and space-based data centers, many details -- including the types of AI chips, such as GPUs, it would produce -- have been unknown. There are a range of approaches for chips that power AI. For example, Nvidia largely makes GPUs, which are general purpose and good at performing a wide array of data crunching tasks. Alphabet's Google takes another approach with its tensor processing units (TPUs), which are tuned to perform specific functions, key to building AI models and running chatbots such as Anthropic's Claude. It was unclear when SpaceX plans to manufacture its own chip and which companies -- the Terafab developers or their partner Intel -- would handle the fabrication technologies inside the plant. Musk told Tesla analysts on Wednesday that by the time Terafab scales up, Intel's next-generation 14A manufacturing process "will be probably fairly mature or ready for prime time" and "seems like the right move." It was also unclear if SpaceX, in its filing, used the term GPU as shorthand for AI processors generally. Still, the previously unreported plans for GPU production come as SpaceX warned investors that it might not have enough chip supply to power its growth. "We do not have long-term contracts with many of our direct chip suppliers," SpaceX said in the S-1 registration. "We expect to continue sourcing a significant portion of our compute hardware from third-party suppliers, and there can be no assurance that we will be able to achieve our objectives with respect to TERAFAB within the expected timeframes, or at all," the company said. Manufacturing GPUs is not easy. Industry heavyweight Nvidia pioneered GPU design and, like much of the industry, outsources their manufacture to Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電). TSMC has spent billions of dollars and years developing its most advanced manufacturing processes, which for cutting-edge chips require exotic materials and executing more than 1,000 steps with atomic precision. Its years of manufacturing billions of Apple's iPhone chips have afforded it an enormous amount of the required hands-on experience to produce cutting-edge processors. The chip industry, as it is organized, splits steps such as fabricating, packaging and testing among several discrete companies. Musk has said the Terafab would handle each step of chip production, including the design as well.
SpaceX brings analysts to xAI's Macrohard in Memphis: Reports
MEMPHIS, Tenn. -- SpaceX, the rocket company founded by Elon Musk, is scheduled to host a group of investors and analysts on Thursday at xAI's Macrohard data center in Memphis, Reuters is reporting. The Macrohard facility and the Colossus II computer are in the Whitehaven area of Memphis. xAI has three supercomputers and data center facilities in the Memphis area. The Memphis visit follows another one Tuesday at the SpaceX headquarters in Texas, according to Reuters. SpaceX acquired xAI, Musk's artificial intelligence company, earlier this year. SpaceX has filed for an initial public offering that could make it the largest-ever stock market listing, valued at $1.75 trillion. Thursday morning, at least one protester confronted xAI investors at a hotel in downtown Memphis, according to social media. The NAACP has filed a lawsuit against xAI, and several community groups have opposed the operation of multiple data centers in the Memphis area, citing pollution and health concerns centered on the facilities' use of gas turbines to generate backup power and the use of water from the aquifer.
