News & Updates
The latest news and updates from companies in the WLTH portfolio.
Anthropic may invest in Australian data center infrastructure
Forms part of broader potential partnership with government AI company Anthropic may invest in AI infrastructure in Australia as part of a broader agreement with the Australian government. The company behind the frontier AI model Claude has signed a Memorandum of Understanding to "cooperate on AI safety research and support the goals of Australia's National AI Plan." - Anthropic Anthropic could invest in "data center infrastructure and energy throughout the country" in line with the country's recently released expectations of projects proposed by data center and AI infrastructure developers. These expectations include: prioritizing Australia's national interest; supporting Australia's energy transition; sustainable and efficient water usage; investment in Australian skills and workforce; and research, innovation, and local capability. Proposals aligned with these five expectations will be prioritized by the Australian government. Details about the size of Anthropic's potential investment were not provided. The memorandum document itself does not explicitly mention investments in data centers, instead stating that Anthropic supports the Australian government's expectations and will "align its Australian operations with those expectations." The memorandum also states that the AI company will partner with Australian research institutions to conduct medical research and support computer science education, cooperate with Australia's AI Safety Institute, share its Anthropic Economic Index data tracking AI's impact on the economy, and plan to develop AI training within the workforce. A memorandum of understanding is typically a preliminary agreement, and this memorandum is no different, stating that it is "intended as a statement of intent and is not intended to have legal effect." Australia is looking to capitalize on the AI boom by attracting data center investments. It launched its National AI Plan last December, which outlined the government's stance on data centers and AI more generally. More in Australasia More in Investment / M&A / Financing
SpaceX registers to take rocket maker public in blockbuster IPO, Bloomberg News reports
April 1 (Reuters) - Elon Musk's SpaceX has confidentially filed for a U.S. initial public offering, setting the stage for what could become the largest stock market listing on record, Bloomberg News reported on Wednesday. A public listing at a potential valuation of more than $1.75 trillion would signal that space exploration has moved from speculative venture to a mainstream investment theme. SpaceX's growth has been driven by its reusable rockets and the Starlink satellite internet network. The filing comes after SpaceX merged with Musk's artificial intelligence startup xAI in a deal that valued the rocket company at $1 trillion and the developer of the Grok chatbot at $250 billion. Musk, the world's richest person, runs a sprawling business empire that spans electric vehicles at Tesla, space launch, satellite broadband, AI and social media. "Investors could use a sum-of-the-parts analysis, but, like with Tesla, SpaceX's valuation could very much fluctuate wildly based off how much the public believes in Musk's vision," said Angelo Bochanis, data and index associate at Renaissance Capital, a provider of IPO-focused research and ETFs. "So far, investors seem to be clamoring for any sort of exposure to SpaceX." LARGEST IPO EVER The Starbase, Texas-headquartered firm could seek to raise more than $50 billion in the IPO, handily surpassing the 2019 flotation of Saudi Aramco, which remains the largest IPO on record. A blockbuster SpaceX debut could jolt the IPO market back to life after years of subdued activity, with market participants expecting strong demand from both retail and institutional investors, some drawn by Musk's brand and others seeking exposure to SpaceX's fast-growing space and satellite businesses. SpaceX is the world's most valuable privately held company, based on the valuation implied by its merger deal with xAI. The rocket startup was last valued at about $800 billion in a secondary share sale independently. Several other high-profile startups, including ChatGPT maker OpenAI and rival Anthropic, are also said to be weighing large IPOs, setting up a broader test of investor appetite for new listings. Many large startups have remained private for longer, tapping deep pools of capital in private markets, but a listing by a company such as SpaceX could encourage more of them to pursue public offerings. 'MUSKONOMY' A listing would deepen analyst and investor scrutiny of "Muskonomy" -- the billionaire's sprawling business empire and intertwined fortunes -- bringing renewed focus to how his companies are financed, governed and valued across markets. "A likely dual-class share structure would let Musk tap public capital while retaining firm control, even after the substantial dilution that comes with a public offering," said Minmo Gahng, assistant professor of finance at Cornell University. He runs electric vehicle maker Tesla, brain-chip maker Neuralink and tunnel-digging firm The Boring Company. Musk also folded social media platform X into xAI through a share swap last year, giving the AI startup access to the platform's data and distribution network. Questions about Musk's ability to oversee multiple companies with market values exceeding $1 trillion could temper investor enthusiasm, analysts say. "It is understandable that investors would be concerned with Musk overseeing multiple significant enterprises, especially given his polarizing public profile at times. However, SpaceX appears somewhat differentiated," said Kat Liu, vice president at IPOX. "The business is operationally mature, technologically ahead in several key areas, and profitable, which provides a solid fundamental underpinning." SPACE RACE SpaceX generated about $8 billion in profit on $15 billion to $16 billion of revenue last year, Reuters reported in January, citing people familiar with the matter. A growing number of billionaires and private firms have bankrolled a fresh space race in the U.S., investing heavily in rockets, satellite networks and lunar ambitions, including SpaceX and Jeff Bezos' Blue Origin. As NASA leans more on commercial partners and defense budgets climb, space is emerging as a strategic battleground shaped by technological edge, national security priorities and the promise of new economic gains. SpaceX has also sought permission to launch up to 1 million solar‑powered satellites engineered as orbital data centers, far beyond anything currently deployed or proposed. NASA engineers and technologists have speculated for nearly two decades about moving energy‑hungry computing off the planet. SpaceX's merger with xAI has drawn investor attention to how Musk could use a tightly integrated network of rockets, satellites and AI systems to overcome technical and capital hurdles, extending artificial intelligence infrastructure beyond Earth. Artificial intelligence has become Wall Street's favorite theme, with anything tied to AI helping fuel a powerful rally in technology stocks and lifting valuations across the sector. (Reporting by Manya Saini in Bengaluru; Editing by Shinjini Ganguli)
Largest IPO ever? Musk's spaceX set for historic market debut
Elon Musk's SpaceX files for a potential record-breaking IPO, with valuation estimates above $1.75 trillion, signalling a major shift in global space and tech markets. Elon Musk's SpaceX has confidentially filed for a U.S. initial public offering, setting the stage for what could become the largest stock market listing on record, Bloomberg News reported on Wednesday. A public listing at a potential valuation of more than $1.75 trillion would signal that space exploration has moved from speculative venture to a mainstream investment theme. SpaceX's growth has been driven by its reusable rockets and the Starlink satellite internet network. The filing comes after SpaceX merged with Musk's artificial intelligence startup xAI in a deal that valued the rocket company at $1 trillion and the developer of the Grok chatbot at $250 billion. Musk, the world's richest person, runs a sprawling business empire that spans electric vehicles at Tesla, space launch, satellite broadband, AI and social media. "Investors could use a sum-of-the-parts analysis, but, like with Tesla, SpaceX's valuation could very much fluctuate wildly based off how much the public believes in Musk's vision," said Angelo Bochanis, data and index associate at Renaissance Capital, a provider of IPO-focused research and ETFs. "So far, investors seem to be clamoring for any sort of exposure to SpaceX." Largest IPO ever The Starbase, Texas-headquartered firm could seek to raise more than $50 billion in the IPO, handily surpassing the 2019 flotation of Saudi Aramco, which remains the largest IPO on record. A blockbuster SpaceX debut could jolt the IPO market back to life after years of subdued activity, with market participants expecting strong demand from both retail and institutional investors, some drawn by Musk's brand and others seeking exposure to SpaceX's fast-growing space and satellite businesses. SpaceX is the world's most valuable privately held company, based on the valuation implied by its merger deal with xAI. The rocket startup was last valued at about $800 billion in a secondary share sale independently. Several other high-profile startups, including ChatGPT maker OpenAI and rival Anthropic, are also said to be weighing large IPOs, setting up a broader test of investor appetite for new listings. Many large startups have remained private for longer, tapping deep pools of capital in private markets, but a listing by a company such as SpaceX could encourage more of them to pursue public offerings. 'MUSKONOMY' A listing would deepen analyst and investor scrutiny of "Muskonomy" -- the billionaire's sprawling business empire and intertwined fortunes -- bringing renewed focus to how his companies are financed, governed and valued across markets. "A likely dual-class share structure would let Musk tap public capital while retaining firm control, even after the substantial dilution that comes with a public offering," said Minmo Gahng, assistant professor of finance at Cornell University. He runs electric vehicle maker Tesla, brain-chip maker Neuralink and tunnel-digging firm The Boring Company. Musk also folded social media platform X into xAI through a share swap last year, giving the AI startup access to the platform's data and distribution network. Questions about Musk's ability to oversee multiple companies with market values exceeding $1 trillion could temper investor enthusiasm, analysts say. "It is understandable that investors would be concerned with Musk overseeing multiple significant enterprises, especially given his polarizing public profile at times. However, SpaceX appears somewhat differentiated," said Kat Liu, vice president at IPOX. "The business is operationally mature, technologically ahead in several key areas, and profitable, which provides a solid fundamental underpinning." The space race SpaceX generated about $8 billion in profit on $15 billion to $16 billion of revenue last year, Reuters reported in January, citing people familiar with the matter. A growing number of billionaires and private firms have bankrolled a fresh space race in the U.S., investing heavily in rockets, satellite networks and lunar ambitions, including SpaceX and Jeff Bezos' Blue Origin. As NASA leans more on commercial partners and defense budgets climb, space is emerging as a strategic battleground shaped by technological edge, national security priorities and the promise of new economic gains. SpaceX has also sought permission to launch up to 1 million solar-powered satellites engineered as orbital data centers, far beyond anything currently deployed or proposed. NASA engineers and technologists have speculated for nearly two decades about moving energy-hungry computing off the planet. SpaceX's merger with xAI has drawn investor attention to how Musk could use a tightly integrated network of rockets, satellites and AI systems to overcome technical and capital hurdles, extending artificial intelligence infrastructure beyond Earth. Artificial intelligence has become Wall Street's favorite theme, with anything tied to AI helping fuel a powerful rally in technology stocks and lifting valuations across the sector.
SpaceX confidentially files for IPO, setting stage for record offering
SpaceX headquarters is shown in Hawthorne, California, U.S. June 5, 2025. Elon Musk's SpaceX has confidentially filed for an IPO with the Securities and Exchange Commission, sources told CNBC's David Faber, bringing Elon Musk's rocket company one step closer to what's expected to be a record public offering. Bloomberg was first to report on SpaceX's confidential filing, citing people familiar with the matter, adding that the company could seek a valuation of $1.75 trillion. Founded by Musk in 2002 to develop and operate reusable rockets, SpaceX has turned into NASA's biggest launch partner after the agency ended its space shuttle program in 2011. The company merged with Musk's xAI in February, creating a combined entity that he valued at the time at $1.25 trillion. When SpaceX eventually lists, Musk will become the first person to helm two separate trillion-dollar publicly traded companies.
Anthropic Issues 8,000 Copyright Takedowns to Scrub Claude Code Leak
Anthropic is scrambling to contain the leak of its popular AI tool, Claude Code, by issuing over 8,000 copyright takedown notices. Anthropic is trying to scrub the leaked computer code from GitHub, which reports processing copyright takedown notices for an "entire network of 8.1K repositories," which are pages that store computer code. The company confirmed the leak is real after a user on Tuesday morning spotted Anthropic accidentally shipping the source code in a 59.8MB file in the since-deleted 2.1.88 release of Claude Code. The discovery sparked a flood of interest, leading the leaked code to proliferate across thousands of GitHub pages, a popular platform for hosting software projects. An Anthropic spokesperson told PCMag that the "Claude Code release included some internal source code. No sensitive customer data or credentials were involved or exposed. This was a release packaging issue caused by human error, not a security breach. We're rolling out measures to prevent this from happening again." However, programmers have been trying to find ways to keep leaked source code up. This has included using AI to rewrite the code into different scripting languages such as Python and Bash. The intent is to substantially alter the code and thus dodge Anthropic's copyright takedowns, which have been removing the GitHub repositories over infringement. "The source is, for all practical purposes, permanently public," wrote Systima, a consultancy focused on AI agents. However, Systima noted: "The leak did not expose model weights, training data, or API infrastructure," for Claude Code. Still, the incident might be a major blow to Anthropic, as it pulls back the curtains on its flagship product, Claude Code, a valuable resource for rival companies to improve their own AI coding tools. Developers have been digging through the file and found that it reveals several features, including a technique to prevent bad actors from cloning Claude Code, and a mode to strip evidence that an AI was behind the output. The leak also mentions "KAIROS," which appears to be an unreleased autonomous agent mode, and a Tamagotchi-style "buddy" companion system, although this might be an April Fools' joke, according to software engineer Alex Kim.
SpaceX registers to take rocket maker public in blockbuster IPO, source says
April 1 : Elon Musk's SpaceX has confidentially filed for a U.S. initial public offering, setting the stage for what could become the largest stock market listing on record, a person familiar with the matter told Reuters on Wednesday. A public listing at a potential valuation of more than $1.75 trillion would signal that space exploration has moved from speculative venture to a mainstream investment theme. SpaceX's growth has been driven by its reusable rockets and the Starlink satellite internet network. The filing comes after SpaceX merged with Musk's artificial intelligence startup xAI in a deal that valued the rocket company at $1 trillion and the developer of the Grok chatbot at $250 billion. Musk, the world's richest person, runs a sprawling business empire that spans electric vehicles at Tesla, space launch, satellite broadband, AI and social media. "Investors could use a sum-of-the-parts analysis, but, like with Tesla, SpaceX's valuation could very much fluctuate wildly based off how much the public believes in Musk's vision," said Angelo Bochanis, data and index associate at Renaissance Capital, a provider of IPO-focused research and ETFs. "So far, investors seem to be clamoring for any sort of exposure to SpaceX." SpaceX did not immediately respond to a Reuters request for comment. LARGEST IPO EVER The Starbase, Texas-headquartered firm could seek to raise more than $50 billion in the IPO, handily surpassing the 2019 flotation of Saudi Aramco, which remains the largest IPO on record. A blockbuster SpaceX debut could jolt the IPO market back to life after years of subdued activity, with market participants expecting strong demand from both retail and institutional investors, some drawn by Musk's brand and others seeking exposure to SpaceX's fast-growing space and satellite businesses. SpaceX is the world's most valuable privately held company, based on the valuation implied by its merger deal with xAI. The rocket startup was last valued at about $800 billion in a secondary share sale independently. Several other high-profile startups, including ChatGPT maker OpenAI and rival Anthropic, are also said to be weighing large IPOs, setting up a broader test of investor appetite for new listings. Many large startups have remained private for longer, tapping deep pools of capital in private markets, but a listing by a company such as SpaceX could encourage more of them to pursue public offerings. Bloomberg News first reported on the confidential filing earlier on Wednesday. 'MUSKONOMY' A listing would deepen analyst and investor scrutiny of "Muskonomy" -- the billionaire's sprawling business empire and intertwined fortunes -- bringing renewed focus to how his companies are financed, governed and valued across markets. "A likely dual-class share structure would let Musk tap public capital while retaining firm control, even after the substantial dilution that comes with a public offering," said Minmo Gahng, assistant professor of finance at Cornell University. He runs electric vehicle maker Tesla, brain-chip maker Neuralink and tunnel-digging firm The Boring Company. Musk also folded social media platform X into xAI through a share swap last year, giving the AI startup access to the platform's data and distribution network. Questions about Musk's ability to oversee multiple companies with market values exceeding $1 trillion could temper investor enthusiasm, analysts say. "It is understandable that investors would be concerned with Musk overseeing multiple significant enterprises, especially given his polarizing public profile at times. However, SpaceX appears somewhat differentiated," said Kat Liu, vice president at IPOX. "The business is operationally mature, technologically ahead in several key areas, and profitable, which provides a solid fundamental underpinning." SPACE RACE The move comes as NASA is set to launch four astronauts as soon as Wednesday evening on a 10-day flight around the moon, marking the most ambitious U.S. space mission in decades. SpaceX generated about $8 billion in profit on $15 billion to $16 billion of revenue last year, Reuters reported in January, citing people familiar with the matter. A growing number of billionaires and private firms have bankrolled a fresh space race in the U.S., investing heavily in rockets, satellite networks and lunar ambitions, including SpaceX and Jeff Bezos' Blue Origin. As NASA leans more on commercial partners and defense budgets climb, space is emerging as a strategic battleground shaped by technological edge, national security priorities and the promise of new economic gains. SpaceX has also sought permission to launch up to 1 million solar‑powered satellites engineered as orbital data centers, far beyond anything currently deployed or proposed. NASA engineers and technologists have speculated for nearly two decades about moving energy‑hungry computing off the planet. SpaceX's merger with xAI has drawn investor attention to how Musk could use a tightly integrated network of rockets, satellites and AI systems to overcome technical and capital hurdles, extending artificial intelligence infrastructure beyond Earth. Artificial intelligence has become Wall Street's favorite theme, with anything tied to AI helping fuel a powerful rally in technology stocks and lifting valuations across the sector.
SpaceX confidentially files for IPO
SpaceX (SPAX.PVT) officially kicked off its IPO process, which could result in the biggest public offering ever. The reusable rocket and space exploration company confidentially filed for its IPO with the SEC, Bloomberg News reported on Wednesday. Though details won't be available until closer to its official listing, The Information and Bloomberg reported earlier that SpaceX was expected to raise up to $75 billion in its offering. Though SpaceX was most recently valued at $1.25 trillion, Bloomberg reports the company's valuation was on track to hit $1.75 trillion, putting it on par with companies like CEO Elon Musk's Tesla (TSLA). SpaceX won't decide the actual size of the offering and valuation until a few weeks before the IPO, with the company targeting a June listing. Bloomberg also reports the company is considering a dual-class share structure in the listing that would potentially give insiders such like CEO Elon Musk extra voting power. In addition, SpaceX may reportedly allow more retail investors to participate in the IPO than is typically normal, as Musk has been known to cater to individual investors in Tesla, for example. The individual investor portion could top 20% of offering, double the 10% normally allocated. For Musk, SpaceX's offering is the culmination of dream to build reusable rockets, and colonize Mars. Musk founded the company back in 2002, and by 2012 SpaceX began delivering cargo by rocket to the International Space Station. Part of the big valuation story of SpaceX is Starlink, the satellite-based internet service that began operation in 2019. Starlink reportedly generates the lion's share of SpaceX's profits, and its growth may be a reason why a SpaceX IPO would be lucrative at this time. A SpaceX IPO would also bring another Musk company to the public fold, one that is increasingly connected to Musk's other trillion dollar company, Tesla. Last weekend Tesla and SpaceX announced Terafab, a joint venture designed to consolidate every stage of semiconductor production under one roof. Terafab targets two primary chip types: an edge-inference processor optimized for Tesla's Full Self-Driving systems, Optimus humanoid robots, and Robotaxi fleets, and a high-power variant hardened for space environments, supporting SpaceX satellites, orbital data centers, and xAI initiatives. The SpaceX IPO will help fund those orbital data centers, a priority for Musk who believes it will be cheaper to produce AI compute in space versus on Earth. This follows Musk's move in February to change SpaceX's original mission from colonizing Mars, to a closer (and more financial feasible) target in the Moon.
Anthropic Issues 8,000 Copyright Takedowns to Scrub Claude Code Leak
Anthropic is scrambling to contain the leak of its popular AI tool, Claude Code, by issuing over 8,000 copyright takedown notices. Anthropic is trying to scrub the leaked computer code from GitHub, which reports processing copyright takedown notices for an "entire network of 8.1K repositories," which are pages that store computer code. The company confirmed the leak is real after a user on Tuesday morning spotted Anthropic accidentally shipping the source code in a 59.8MB file in the since-deleted 2.1.88 release of Claude Code. The discovery sparked a flood of interest, leading the leaked code to proliferate across thousands of GitHub pages, a popular platform for hosting software projects. An Anthropic spokesperson told PCMag that the "Claude Code release included some internal source code. No sensitive customer data or credentials were involved or exposed. This was a release packaging issue caused by human error, not a security breach. We're rolling out measures to prevent this from happening again." However, programmers have been trying to find ways to keep leaked source code up. This has included using AI to rewrite the code into different scripting languages such as Python and Bash. The intent is to substantially alter the code and thus dodge Anthropic's copyright takedowns, which have been removing the GitHub repositories over infringement. "The source is, for all practical purposes, permanently public," wrote Systima, a consultancy focused on AI agents. However, Systima noted: "The leak did not expose model weights, training data, or API infrastructure," for Claude Code. Still, the incident might be a major blow to Anthropic, as it pulls back the curtains on its flagship product, Claude Code, a valuable resource for rival companies to improve their own AI coding tools. Developers have been digging through the file and found that it reveals several features, including a technique to prevent bad actors from cloning Claude Code, and a mode to strip evidence that an AI was behind the output. The leak also mentions "KAIROS," which appears to be an unreleased autonomous agent mode, and a Tamagotchi-style "buddy" companion system, although this might be an April Fools' joke, according to software engineer Alex Kim.
Anthropic Issues 8,000 Copyright Takedowns to Scrub Claude Code Leak
Anthropic is scrambling to contain the leak of its popular AI tool, Claude Code, by issuing over 8,000 copyright takedown notices. Anthropic is trying to scrub the leaked computer code from GitHub, which reports processing copyright takedown notices for an "entire network of 8.1K repositories," which are pages that store computer code. The company confirmed the leak is real after a user on Tuesday morning spotted Anthropic accidentally shipping the source code in a 59.8MB file in the since-deleted 2.1.88 release of Claude Code. The discovery sparked a flood of interest, leading the leaked code to proliferate across thousands of GitHub pages, a popular platform for hosting software projects. An Anthropic spokesperson told PCMag that the "Claude Code release included some internal source code. No sensitive customer data or credentials were involved or exposed. This was a release packaging issue caused by human error, not a security breach. We're rolling out measures to prevent this from happening again." However, programmers have been trying to find ways to keep leaked source code up. This has included using AI to rewrite the code into different scripting languages such as Python and Bash. The intent is to substantially alter the code and thus dodge Anthropic's copyright takedowns, which have been removing the GitHub repositories over infringement. "The source is, for all practical purposes, permanently public," wrote Systima, a consultancy focused on AI agents. However, Systima noted: "The leak did not expose model weights, training data, or API infrastructure," for Claude Code. Still, the incident might be a major blow to Anthropic, as it pulls back the curtains on its flagship product, Claude Code, a valuable resource for rival companies to improve their own AI coding tools. Developers have been digging through the file and found that it reveals several features, including a technique to prevent bad actors from cloning Claude Code, and a mode to strip evidence that an AI was behind the output. The leak also mentions "KAIROS," which appears to be an unreleased autonomous agent mode, and a Tamagotchi-style "buddy" companion system, although this might be an April Fools' joke, according to software engineer Alex Kim.
SpaceX reportedly files to take rocket maker public in blockbuster IPO
Elon Musk's SpaceX has confidentially filed for a U.S. initial public offering, setting the stage for what could become the largest stock market listing on record, Bloomberg News reported on Wednesday. A public listing at a potential valuation of more than US$1.75-trillion would signal that space exploration has moved from speculative venture to a mainstream investment theme. SpaceX's growth has been driven by its reusable rockets and the Starlink satellite internet network. The filing comes after SpaceX merged with Musk's artificial intelligence startup xAI in a deal that valued the rocket company at US$1-trillion and the developer of the Grok chatbot at US$250-billion. Musk, the world's richest person, runs a sprawling business empire that spans electric vehicles at Tesla, space launch, satellite broadband, AI and social media. "Investors could use a sum-of-the-parts analysis, but, like with Tesla, SpaceX's valuation could very much fluctuate wildly based off how much the public believes in Musk's vision," said Angelo Bochanis, data and index associate at Renaissance Capital, a provider of IPO-focused research and ETFs. "So far, investors seem to be clamouring for any sort of exposure to SpaceX." The Starbase, Texas-headquartered firm could seek to raise more than $50 billion in the IPO, handily surpassing the 2019 flotation of Saudi Aramco, which remains the largest IPO on record. A blockbuster SpaceX debut could jolt the IPO market back to life after years of subdued activity, with market participants expecting strong demand from both retail and institutional investors, some drawn by Musk's brand and others seeking exposure to SpaceX's fast-growing space and satellite businesses. SpaceX is the world's most valuable privately held company, based on the valuation implied by its merger deal with xAI. The rocket startup was last valued at about US$800-billion in a secondary share sale independently. Several other high-profile startups, including ChatGPT maker OpenAI and rival Anthropic, are also said to be weighing large IPOs, setting up a broader test of investor appetite for new listings. Many large startups have remained private for longer, tapping deep pools of capital in private markets, but a listing by a company such as SpaceX could encourage more of them to pursue public offerings. A listing would deepen analyst and investor scrutiny of "Muskonomy" - the billionaire's sprawling business empire and intertwined fortunes - bringing renewed focus to how his companies are financed, governed and valued across markets. "A likely dual-class share structure would let Musk tap public capital while retaining firm control, even after the substantial dilution that comes with a public offering," said Minmo Gahng, assistant professor of finance at Cornell University. He runs electric vehicle maker Tesla, brain-chip maker Neuralink and tunnel-digging firm The Boring Company. Musk also folded social media platform X into xAI through a share swap last year, giving the AI startup access to the platform's data and distribution network. Questions about Musk's ability to oversee multiple companies with market values exceeding US$1-trillion could temper investor enthusiasm, analysts say. "It is understandable that investors would be concerned with Musk overseeing multiple significant enterprises, especially given his polarizing public profile at times. However, SpaceX appears somewhat differentiated," said Kat Liu, vice president at IPOX. "The business is operationally mature, technologically ahead in several key areas, and profitable, which provides a solid fundamental underpinning." SpaceX generated about US$8-billion in profit on US$15-billion to US$16-billion of revenue last year, Reuters reported in January, citing people familiar with the matter. A growing number of billionaires and private firms have bankrolled a fresh space race in the U.S., investing heavily in rockets, satellite networks and lunar ambitions, including SpaceX and Jeff Bezos' Blue Origin. As NASA leans more on commercial partners and defence budgets climb, space is emerging as a strategic battleground shaped by technological edge, national security priorities and the promise of new economic gains. SpaceX has also sought permission to launch up to 1 million solar-powered satellites engineered as orbital data centres, far beyond anything currently deployed or proposed. NASA engineers and technologists have speculated for nearly two decades about moving energy-hungry computing off the planet. SpaceX's merger with xAI has drawn investor attention to how Musk could use a tightly integrated network of rockets, satellites and AI systems to overcome technical and capital hurdles, extending artificial intelligence infrastructure beyond Earth. Artificial intelligence has become Wall Street's favourite theme, with anything tied to AI helping fuel a powerful rally in technology stocks and lifting valuations across the sector.
E*Trade Aims for Major Victory in SpaceX IPO | Business
Morgan Stanley's E*Trade is negotiating to secure a primary role in selling shares of SpaceX's much-anticipated IPO to U.S. investors, potentially excluding Robinhood and SoFi. The IPO could be one of the largest ever, with SpaceX considering allocating up to 30% of shares to retail investors. In a strategic move, Morgan Stanley's E*Trade is in discussions to take a lead in distributing shares of SpaceX's eagerly awaited IPO to the general public, sources reveal. While Robinhood and SoFi have also shown interest, they may not participate as SpaceX considers bypassing them, a surprising maneuver given their recent history with major IPOs. Confidential talks are ongoing, with SpaceX potentially setting aside a significant portion of shares for retail investors, a highly coveted segment for E*Trade to capture, reflecting Morgan Stanley's retail market expansion strategy.
Elon Musk's SpaceX Has Secretly Filed for IPO - Lookonchain - Looking for smartmoney onchain
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SpaceX files confidentially for IPO, targeting June listing By Investing.com
Investing.com -- SpaceX has filed confidentially for an initial public offering with the US Securities and Exchange Commission, according to a report from Bloomberg News, citing people familiar with the matter. The filing puts Elon Musk's rocket, satellite and AI company on track for a June listing. The company submitted its draft IPO registration to the SEC, the people said, requesting anonymity as the information is not public. The planned offering would mark the first of three anticipated mega-IPOs, ahead of OpenAI and Anthropic PBC. SpaceX could seek a valuation exceeding $1.75 trillion in the IPO. If completed, the listing would represent the largest IPO on record.
SpaceX registers to take rocket maker public in blockbuster IPO, Bloomberg News reports By Reuters
April 1 (Reuters) - Elon Musk's SpaceX has confidentially filed for a U.S. initial public offering, setting the stage for what could become the largest stock market listing on record, Bloomberg News reported on Wednesday. A public listing at a potential valuation of more than $1.75 trillion would signal that space exploration has moved from speculative venture to a mainstream investment theme. SpaceX's growth has been driven by its reusable rockets and the Starlink satellite internet network. The filing comes after SpaceX merged with Musk's artificial intelligence startup xAI in a deal that valued the rocket company at $1 trillion and the developer of the Grok chatbot at $250 billion. Musk, the world's richest person, runs a sprawling business empire that spans electric vehicles at Tesla, space launch, satellite broadband, AI and social media. "Investors could use a sum-of-the-parts analysis, but, like with Tesla, SpaceX's valuation could very much fluctuate wildly based off how much the public believes in Musk's vision," said Angelo Bochanis, data and index associate at Renaissance Capital, a provider of IPO-focused research and ETFs. "So far, investors seem to be clamoring for any sort of exposure to SpaceX." LARGEST IPO EVER The Starbase, Texas-headquartered firm could seek to raise more than $50 billion in the IPO, handily surpassing the 2019 flotation of Saudi Aramco, which remains the largest IPO on record. A blockbuster SpaceX debut could jolt the IPO market back to life after years of subdued activity, with market participants expecting strong demand from both retail and institutional investors, some drawn by Musk's brand and others seeking exposure to SpaceX's fast-growing space and satellite businesses. SpaceX is the world's most valuable privately held company, based on the valuation implied by its merger deal with xAI. The rocket startup was last valued at about $800 billion in a secondary share sale independently. Several other high-profile startups, including ChatGPT maker OpenAI and rival Anthropic, are also said to be weighing large IPOs, setting up a broader test of investor appetite for new listings. Many large startups have remained private for longer, tapping deep pools of capital in private markets, but a listing by a company such as SpaceX could encourage more of them to pursue public offerings. 'MUSKONOMY' A listing would deepen analyst and investor scrutiny of "Muskonomy" -- the billionaire's sprawling business empire and intertwined fortunes -- bringing renewed focus to how his companies are financed, governed and valued across markets. "A likely dual-class share structure would let Musk tap public capital while retaining firm control, even after the substantial dilution that comes with a public offering," said Minmo Gahng, assistant professor of finance at Cornell University. He runs electric vehicle maker Tesla, brain-chip maker Neuralink and tunnel-digging firm The Boring Company. Musk also folded social media platform X into xAI through a share swap last year, giving the AI startup access to the platform's data and distribution network. Questions about Musk's ability to oversee multiple companies with market values exceeding $1 trillion could temper investor enthusiasm, analysts say. "It is understandable that investors would be concerned with Musk overseeing multiple significant enterprises, especially given his polarizing public profile at times. However, SpaceX appears somewhat differentiated," said Kat Liu, vice president at IPOX. "The business is operationally mature, technologically ahead in several key areas, and profitable, which provides a solid fundamental underpinning." SPACE RACE SpaceX generated about $8 billion in profit on $15 billion to $16 billion of revenue last year, Reuters reported in January, citing people familiar with the matter. A growing number of billionaires and private firms have bankrolled a fresh space race in the U.S., investing heavily in rockets, satellite networks and lunar ambitions, including SpaceX and Jeff Bezos' Blue Origin. As NASA leans more on commercial partners and defense budgets climb, space is emerging as a strategic battleground shaped by technological edge, national security priorities and the promise of new economic gains. SpaceX has also sought permission to launch up to 1 million solar‑powered satellites engineered as orbital data centers, far beyond anything currently deployed or proposed. NASA engineers and technologists have speculated for nearly two decades about moving energy‑hungry computing off the planet. SpaceX's merger with xAI has drawn investor attention to how Musk could use a tightly integrated network of rockets, satellites and AI systems to overcome technical and capital hurdles, extending artificial intelligence infrastructure beyond Earth. Artificial intelligence has become Wall Street's favorite theme, with anything tied to AI helping fuel a powerful rally in technology stocks and lifting valuations across the sector.
The road to SpaceX's juggernaut IPO By Reuters
April 1 (Reuters) - Elon Musk's SpaceX has confidentially filed for its hotly anticipated U.S. initial public offering, Bloomberg News reported on Wednesday, moving the billionaire closer to having a second publicly traded company in his empire. Here is a timeline of SpaceX's journey to the blockbuster IPO: March 2002 - Elon Musk launched SpaceX using money he made from the sale of PayPal. March 2006 - SpaceX launched its first rocket, the Falcon 1, which failed. September 2008 - SpaceX's Falcon 1 launched successfully for the first time and became the first privately developed liquid-fuel rocket to reach Earth's orbit. December 2008 - SpaceX secured its first major contract with NASA to ferry cargo and supplies to the International Space Station (ISS). May 2012 - A Dragon capsule was taken to space by a SpaceX Falcon 9 rocket, making it the first private spacecraft to dock at the ISS. June 2015 - Falcon 9 Rocket exploded mid-air. December 2015 - First successful vertical landing of Falcon 9 rocket. The soft touchdown marked the first time any large rocket managed a controlled recovery after delivering a payload into orbit. February 2018 - The first Falcon Heavy launch carried Musk's Tesla Roadster and its mannequin driver, Starman, into space. April 2019 - Crew Dragon test vehicle capsule exploded during ground test. May 2019 - SpaceX began launching Starlink satellites, a constellation capable of beaming signals for high-speed internet service from space to paying customers around the globe. October 2020 - SpaceX completed its 100th successful flight of a Falcon rocket since Falcon 1 first flew to orbit in 2008. November 2020 - SpaceX Crew-1 mission - the first operational mission under NASA's Commercial Crew Program. April 2021 - NASA awarded SpaceX the contract for the first commercial human lander, part of its Artemis program. September 2021 - SpaceX launched the first all-civilian crew ever to circle the Earth from space. November 2021 - NASA's Double Asteroid Redirection Test (DART) mission was launched into an interplanetary transfer orbit aboard a SpaceX rocket, marking the world's first test of a planetary defense system designed to prevent a potential asteroid collision with Earth. April 2023 - First Starship Rocket exploded after losing control. November 2023 - Starship launch failed minutes after reaching space. November 2023 - A U.S. judge blocked the U.S. Department of Justice from pursuing an administrative case accusing Elon Musk's SpaceX of illegally refusing to hire refugees and asylum recipients. September 2024 - The SpaceX Polaris Dawn mission carried out its first privately managed spacewalk. January 2025 - SpaceX's Starship rocket broke up in space minutes after launching from Texas, forcing airline flights over the Gulf of Mexico to alter course to avoid falling debris. June 2025 - Starship exploded during a ground test. February 2026 - SpaceX acquired Musk's artificial-intelligence startup xAI in a record-setting deal worth $250 billion, unifying the world's richest man's AI and space ambitions by combining the rocket-and-satellite company with the maker of the Grok chatbot. February 2026 - SpaceX shifted its focus to building a "self‑growing city" on the moon, Musk said. March 2026 - NASA official said the Starship has accumulated at least two years of development delays since NASA picked the rocket as an astronaut moon lander in 2021, and is expected to require more time to clear remaining hurdles before landing on the moon. April 2026 - SpaceX confidentially files for its blockbuster U.S. initial public offering, laying the groundwork for what could be the biggest stock market flotation ever.
Spacex Has Filed Confidentially For IPO - Bloomberg By Investing.com
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Brit shoppers warned of 10% food price explosion sparked by Middle East chaos
Brits could end up paying more at the supermarket(Image: Tara Moore via Getty Images) Food prices could rocket by 10 per cent this year, even if the Middle East conflict is swiftly resolved, industry leaders have cautioned. The Food and Drink Federation, a trade body, has ramped up its prediction for the anticipated rise in food and drink prices this year from 3.2% to between 9% and 10%. This projection hinges on the assumption that the crucial Strait of Hormuz will reopen within three weeks and energy production in the Middle East will return to normal within a year. The FDF, representing 12,000 food and drink manufacturers, has significantly adjusted its forecasts from those it held in September last year. This shift has been triggered by the effective shutdown of the Strait and disruption and damage to energy infrastructure in the region since the war between the US, Israel and Iran kicked off at the end of February, reports the Mirror. The conflict has caused Brent crude oil and natural gas prices to soar to their highest level since 2022. Disruptions to oil and gas markets are directly and immediately impacting production costs for UK food and drink manufacturers, the FDF said, as it's an industry that heavily relies on energy for the manufacturing process. Many larger businesses can "hedge" costs by securing energy contracts, but they're bracing for steep price hikes when contracts expire, according to the FDF. Meanwhile, it noted that smaller producers tend to purchase energy "on the spot" and were already feeling the pinch of higher prices. Dr Liliana Danila, FDF's chief economist, said: "The food and drink sector is already feeling the force of this geopolitical shock. "As one of the UK's energy intensive industries, manufacturers are facing mounting energy bills, rising transport and packaging costs and disruption across key supply chains. These pressures are hitting simultaneously, and are a significant challenge for businesses to absorb." She added: "The current situation is unprecedented and hard to predict, however given the scale and speed of these cost increases, and despite companies' best efforts not to pass price increases on, it's clear that food inflation is going to rise in the months ahead." Chris Jaccarini, food and farming analyst at the Energy and Climate Intelligence Unit, said: "Forecasts that food inflation will approach double digits is deeply concerning. The war in the Middle East underlines just how quickly our dependence on fossil fuels can cost us. "Petrol prices have risen sharply, and businesses are already reporting higher costs for energy, transport, fertiliser and other inputs. While oil and gas companies' profits will likely rise, families will foot the bill through higher shopping and energy bills." "When Russia's invasion of Ukraine triggered a fossil fuel crisis, it helped drive a sharp rise in food prices. Across 2022 and 2023, households ended up paying around £600 more for food, with climate impacts on food production also adding to those costs. With wages still not having caught up, food remains less affordable for many families than it was before. "With scientists warning that El Niño could return sooner than expected and intensify the extreme heat that climate change is already driving around the world, food production is in jeopardy. 2026 is shaping up to be another year in which conflict and climate risks become a costly reality."
SpaceX files confidentially for IPO, targeting June listing
Investing.com -- SpaceX has filed confidentially for an initial public offering with the US Securities and Exchange Commission, according to a report from Bloomberg News, citing people familiar with the matter. The filing puts Elon Musk's rocket, satellite and AI company on track for a June listing. The company submitted its draft IPO registration to the SEC, the people said, requesting anonymity as the information is not public. The planned offering would mark the first of three anticipated mega-IPOs, ahead of OpenAI and Anthropic PBC. SpaceX could seek a valuation exceeding $1.75 trillion in the IPO. If completed, the listing would represent the largest IPO on record.
Why is Anthropic racing to contain the Claude Code leak -- is it exposing trade secrets, empowering hackers, and letting rivals clone its AI agent faster than ever?
The Anthropic Claude Code leak has exposed more than 8,000 copies of source code to developers worldwide. This accidental release reveals proprietary AI instructions that power Claude Code, giving competitors a roadmap to replicate its features. While no user data or model weights were compromised, the leak exposes critical AI security risks and intellectual property vulnerabilities. Experts warn this could accelerate cloning of AI coding tools and intensify competition in the artificial intelligence market. For developers, startups, and enterprise users, this incident highlights the fragility of AI systems and the urgent need for stricter AI code protection and cybersecurity protocols. Anthropic's reputation and innovation lead are now at stake. Anthropic is scrambling to contain a major leak of the Claude AI code that underpins its powerful Claude Code agent. On Tuesday, an internal file accidentally revealed sensitive instructions and proprietary tooling on GitHub. By Wednesday morning, the company had issued a copyright takedown request to remove more than 8,000 copies and adaptations of the exposed Claude AI code, according to multiple developer reports and GitHub activity. The incident exposed commercially valuable components that help steer the AI models behind one of the leading coding assistants in the industry. This leak of Anthropic's Claude AI code base did not include confidential customer data or the AI model weights themselves, the company said. But the leaked source code still contained crucial clues about the proprietary harness that makes Claude Code function as an intelligent coding assistant. Developers and competitors now have a roadmap to mimic features that until now were closely guarded trade secrets. The leak also triggered a rapid community response, with other programmers rewriting the core functions in new languages to evade takedowns. Anthropic has acknowledged the incident as a release packaging error rather than a security breach. Still, the exposure of Claude AI code and instructions raises fresh concerns about AI tooling safety, competitive advantage, and the ability of major AI developers to keep critical IP private in a hypercompetitive environment. The leaked material was not the Claude AI's core neural network weights -- the mathematical parameters that define how Claude thinks -- but it did include internal source files that show how Anthropic orchestrates its AI models for coding tasks. These files explained proprietary processes known in the industry as the "harness" -- the instructions and tooling that guide an AI model to behave in a practical, developer‑friendly way. In simple terms, the Claude AI code harness includes the logic that tells the model how to receive code input, break down tasks, remember context, and respond in structured formats. Developers described finding intriguing techniques in the leaked code: * A mechanism for the model to periodically review prior tasks and "consolidate memories," dubbed dreaming. * Instructions that in some cases may encourage Claude Code not to reveal its AI identity when generating code output. * Experimentation files pointing to future features and product directions. * Easter‑egg style elements -- including a Tamagotchi‑like interactive "Buddy" character embedded in the code. Although the leak exposed how Claude AI agents are controlled and coordinated, the core machine learning models and their calculations remain secure, Anthropic insisted. The company has said the incident was caused by human error during an update to the AI tool's repository, which mistakenly included files linking back to the full source. The Claude AI code leak is significant because it reveals techniques that Anthropic invested heavily to develop. These techniques differentiate Claude Code from other AI coding assistants in terms of performance, reliability, and developer experience. Until now, competitors had to infer these processes indirectly or rely on reverse engineering. With the source code accessible -- albeit briefly -- any developer or rival AI company can examine exact harness instructions and adapt them for their own use. Within hours, programmers were copying, modifying, and discussing the exposed Claude AI code in online forums. Some contributors even said they were "marveling at the ingenuity," while others warned that the leak could accelerate cloning efforts by competitors. In response, Anthropic issued takedown notices under copyright law to GitHub to remove copies and prevent further spread of its proprietary Claude AI code. More than 8,000 copies and adaptations of the exposed files were taken down, but programmers quickly reposted rewritten versions. One developer created a near‑functional clone of the Claude Code logic in another programming language to preserve the ideas without triggering additional removals. This game of digital cat‑and‑mouse highlights how difficult it is to contain copyrighted digital content once it escapes into open repositories -- especially in the fast‑moving world of AI. Anthropic maintains that no customer data or confidential user information was leaked, nor was the actual AI model architecture exposed. The company said the leak was a tooling delivery mistake, not a malicious breach. Still, experts warn that the exposure of internal tooling could attract security researchers and hackers alike to probe for vulnerabilities. The leaked code gives outsiders new hooks to analyze how Claude AI handles inputs and control instructions -- and could potentially be used to craft malicious prompts or exploit logic loopholes. Skilled attackers now have a much detailed internal look at how Claude Code orchestrates its AI reasoning for coding tasks. Security researchers reviewed the leaked Claude AI code and raised concerns that devs might find bugs that could be triggered in live use. For example, routines that iterate between memory and task planning may create unexpected loops if manipulated in unintended ways. While no major exploits have been reported publicly, the long‑term risk remains open until Anthropic can resecure its workflow and rebuild the codebase. Anthropic says it is implementing new checks and safeguards to prevent a repetition of such a leak. The company has not detailed exactly what those measures are but has described the mishap as a "release packaging issue" resulting from human oversight during a routine update. Once the Claude AI code contents were circulating, developers began combing the files. Social media platforms saw rapid posts parsing what the files actually did and what mechanisms controlled Claude Code's behavior. Many programmers publicly praised the architectural clarity of the harness logic, noting that the techniques for memory consolidation and task iteration could inspire new coding AI tools. Within hours of the leak, some individuals extracted the exposed logic and began porting it to alternative environments. One GitHub user said the new rewritten version aimed to "keep the educational value alive without risking ongoing takedown efforts." That version quickly gained attention and downloads, underscoring the difficulty in holding back distributed digital content once it escapes. Overflow discussions included: * Explanations of Claude AI's memory tagging and dreaming cycles. * Speculation about unused features hinted at in unshipped code segments. * Debates over whether rules advising Claude Code to conceal its AI origin should have been exposed at all. * Community forks and adaptations aimed at research, not commercial use. So far, there have been no public reports of the leaked code being directly used to commit harmful cyberattacks or widespread misuse. But "research clones" of Claude AI logic are multiplying fast in open developer forums. The Claude AI code leak is a stark reminder of the challenges that AI developers face in protecting proprietary tooling in an age of rapid sharing. For Anthropic, the leak threatens two major areas of strategic importance: safety reputation and competitive advantage. Anthropic's Claude Code has gained wide adoption among developers and enterprise customers. It also played a role in helping the company secure new funding at a valuation of $380 billion, fueling speculation about a possible IPO later this year. For enterprise buyers, confidence in tooling security and IP protection is essential. Industry analysts say this leak serves as a cautionary tale for all AI developers who rely on distributed version control systems like GitHub. Mistakes in release packaging can lead to outsized consequences given how quickly code spreads in the global open‑source ecosystem. Anthropic's response so far -- rapid takedowns, public acknowledgment of the error, and steps to prevent future leaks -- is aimed at limiting reputational damage. But the fact that rewritten versions of the Claude AI code are now circulating suggests that once valuable code is out in the wild, it is very hard to reel back in fully. What remains clear is that the AI coding tools race is now not just about model performance but about protecting the intellectual property and orchestration logic that make those tools actually useful in the real world. 1. What does the Anthropic Claude Code leak mean for AI developers and competitors? The Anthropic Claude Code leak gives developers and competitors a rare inside look at how a leading AI coding agent is structured and controlled. With access to these internal instructions, many can now replicate or adapt similar features without heavy research and development costs. This could speed up innovation across the AI industry but also intensify competition, making it harder for companies to maintain unique advantages in the rapidly evolving AI market. 2. Is the Anthropic Claude Code leak a security threat or just a technical mistake? The Anthropic Claude Code leak was officially caused by a human error during a software update, not a cyberattack, but its impact goes beyond a simple mistake. While no user data or core AI model weights were exposed, the leaked source code could still be analyzed for vulnerabilities, increasing potential cybersecurity risks. This makes the incident both a technical failure and a broader security concern for AI platforms and developers. (You can now subscribe to our Economic Times WhatsApp channel)
SpaceX's business and finances: rockets, satellite communications and budding AI
April 1 (Reuters) - SpaceX is gearing up for a stock market debut that could value it at more than $1.75 trillion, Bloomberg News reported on Wednesday, as the Elon Musk-led company reaches for the stars in what could be the largest IPO in history. Here are some details about SpaceX - what it does, what is known about its financials, and other topics. SPACEX IN BRIEF SpaceX, founded in 2002, is the largest private space company in the U.S. and conducts more launches annually than any other company globally. It offers launch services on its reusable Falcon 9 rockets and is developing a larger "Starship". Its Starlink satellite communications network offers internet service to individuals and organizations, with more than 9,500 satellites deployed since 2019 to service more than 9 million users globally. Starlink generates 50%-80% of SpaceX's revenue. Musk's mega-merger of his companies SpaceX and xAI in February combined the space-and-defense contractor with a fast-growing, money-losing AI developer spending heavily to build data centers. SpaceX's main rocket customers include NASA, the U.S. Department of Defense, international space agencies, and commercial satellite companies. The Starship system, a combination of SpaceX's Super Heavy booster and Starship upper stage, is designed for full reusability and built to carry crew and cargo. NASA has been pressing SpaceX to advance Starship toward lunar mission readiness. Musk sees Starship as core to fulfilling his goal of routinely ferrying humans to Mars. SpaceX launched five Starship flight tests last year, the first three of which suffered complex and explosive setbacks, while the last two were successful. Looking ahead, SpaceX has filed plans to launch a constellation of 1 million solar-powered AI data center satellites. Musk's vast business empire -- unofficially dubbed the "Muskonomy" by some investors and analysts -- also encompasses brain-chip company Neuralink and tunneling venture the Boring Company. SPACEX FINANCIALS SpaceX generated roughly $8 billion in profit against $15 billion to $16 billion in revenue in 2025, Reuters exclusively reported in January. The profit figure reflects EBITDA -- earnings before interest, taxes, depreciation, and amortization -- a measure of operating performance. Revenue increased 51% to $13.1 billion in 2024, according to media reports. SpaceX's revenue reportedly doubled from $2.3 billion in 2021 to $4.6 billion in 2022, then rose 90% to $8.7 billion in 2023. Musk has noted that NASA will contribute only 5% of SpaceX's revenue this year, adding that the vast majority of revenue is from the commercial Starlink system. BEYOND EARTH, TO THE MOON AND MARS In 2021, NASA tapped Starship as the lunar lander for its Artemis III mission, which aims to return humans to the Moon for the first time since the Apollo program, followed by a second selection to serve as the lander for Artemis IV. Musk in February said that SpaceX has shifted its focus from Mars to building a "self-growing city" on the moon, which could be achieved within a decade. SpaceX still intends to start on Musk's long-held ambition of a city on Mars within five to seven years, "but the overriding priority is securing the future of civilization and the Moon is faster," he said. ACQUISITION OF XAI Musk launched artificial intelligence startup xAI in July 2023 as an alternative to OpenAI's ChatGPT. SpaceX acquired xAI in a transaction that valued SpaceX at $1 trillion, and xAI at $250 billion, according to a person familiar with the matter. Musk chose to maintain xAI, which operates X and developed the Grok chatbot, as a wholly owned SpaceX subsidiary rather than fully integrating the two companies. XAI reportedly posted a net loss of $1.46 billion for the September quarter, compared with a loss of $1 billion in the previous three months. Revenue nearly doubled sequentially to $107 million in the period ended September 30, 2025. The AI startup acquired messaging and social media service X in March last year, valuing xAI at $80 billion and X at $33 billion. THE COMPETITION Amazon founder Jeff Bezos started the rocket company, Blue Origin, in 2000. The company created a business carrying paying passengers to the edge of space aboard its New Shepard rocket but has shuttered its space tourism flights to redirect resources toward its Blue Moon lunar lander program, with an uncrewed surface mission planned for this year. Blue Origin and SpaceX are building their moon landers with billions of dollars in funding from NASA, which aims to use them for a series of astronaut moon landings starting with SpaceX's Starship. Blue Origin has a $3.6 billion contract with NASA that helps fund the development of the Blue Moon lander. In April 2025, it was awarded a contract for seven missions worth a combined $2.3 billion by the U.S. Space Force. United Launch Alliance, or ULA, is a joint venture of Boeing and Lockheed Martin. It won a U.S. Space Force contract worth $5.3 billion for 19 missions in April last year, and its new Vulcan rocket had its first two launches in 2024. The Pentagon certified Vulcan for national security missions in April after months of review into a mishap with its solid rocket motors during one of its flights. Here is a list of some publicly listed U.S. space companies: (Reporting by Juby Babu in Mexico City; Editing by Leroy Leo)
