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OpenAI has proposed handing the US government a roughly 5% stake, worth about $43 billion, to seed a public wealth fund and ease mounting political pressure in Washington.
Cursor unveiled its first from-scratch AI model, an agent-first Git platform called Origin and an iOS app, days after SpaceX’s $60 billion acquisition of its parent.
SpaceX is pitching investors on a vertically integrated AI strategy spanning chips, data centers and even compute satellites in orbit, bankrolled by Starlink’s profits.
SpaceX IPO sold 555.6 million shares at a fixed $135, nearly tripling the prior record as heavy demand bets on Musk despite steep losses and no path to profit.
Goldman Sachs is projecting SpaceX’s AI revenues will grow roughly 100 times by 2030 – from $3.2 billion to $322 billion annually – figures the bank is using to anchor a $1.78 trillion IPO valuation for the company it is simultaneously leading to market.
SpaceX is a space, satellite connectivity, and AI company that acquired xAI effective February 2, 2026, bringing Grok, X, and AI infrastructure under SpaceX.
xAI is Elon Musk’s AI company behind Grok, real-time AI assistants, large-scale compute infrastructure, and AI products integrated with X.
Morningstar has valued SpaceX at $780 billion, far below the company’s reported $1.75 trillion IPO target. The research firm cited uncertainty around SpaceX’s AI business, Starlink’s long-term prospects, and unproven technologies.
OpenAI is preparing to confidentially file for an IPO that could become one of the largest public offerings in history.
A U.S. jury ruled in favor of OpenAI in Elon Musk’s lawsuit accusing the company of abandoning its nonprofit mission. The verdict removes a major obstacle to OpenAI’s potential IPO plans while intensifying the rivalry between Musk and Sam Altman.
xAI has launched Grok Build, a coding agent and command-line tool aimed at professional software development workflows. The early beta release targets competitors such as Anthropic’s Claude Code as xAI pushes deeper into the AI coding market.
More than 50 researchers and engineers have reportedly left Elon Musk’s SpaceXAI since February following the merger of SpaceX and xAI.
OpenAI has renewed calls for an international AI oversight body modeled after the IAEA ahead of the Trump-Xi summit in Beijing. The proposal would place the U.S. at the center of global AI governance while including China in cross-border safety coordination.
Elon Musk said xAI will cease operating as an independent company and become fully integrated into SpaceX under a new SpaceXAI structure. The move combines Musk’s AI models, compute infrastructure, and aerospace operations into a single organization.
Microsoft, Google, and xAI will provide the US government with early access to advanced AI models for national security testing. The agreements come amid growing concern over the cybersecurity risks posed by frontier AI systems.