SpaceX insiders have gained their first chance to sell stock publicly on Thursday as a lockup agreement expired, freeing up to 911.5 million shares valued at roughly $101 billion. This is likely to put pressure on the stock price of Elon Musk’s rocket company as insiders cash out.
Elon Musk’s SpaceX posted second quarter revenue above Wall Street expectations in its first earnings report as a public company, but shares dropped 10 percent in morning trading as investors reacted to ballooning AI investments.
SpaceX is preparing for two significant events that could trigger substantial volatility in its stock price: the company’s first quarterly earnings report as a public entity Tuesday and the expiration of a lockup period that will release nearly one billion shares into the market on Thursday.
Tesla CEO Elon Musk has publicly rejected a media report suggesting the EV giant is preparing to divest its Chinese operations to facilitate a potential merger with SpaceX. The tech tycoon called the report “fake news.”
Elon Musk’s social media platform X has reached a settlement with the World Federation of Advertisers, ending a contentious legal battle that began in 2024 over allegations of an advertising boycott.
Elon Musk’s artificial intelligence company xAI has filed a federal lawsuit against Minnesota, challenging a pioneering state law that prohibits “nudify” apps capable of creating AI-powered fake, sexualized images of individuals.
Elon Musk’s social media platform X officially launched “X Money” on Monday, a new banking and financial services feature that brings the billionaire entrepreneur closer to his long-stated goal of creating an “everything app.”
Approximately $650 billion to $700 billion of Elon Musk’s net worth has evaporated over a five-week period as both Tesla and SpaceX stock prices experienced significant declines.
World’s richest man Elon Musk now claims he became too consumed by politics during his alliance with President Donald Trump and his brief stint running DOGE.
If Elon Musk pulls this off, it will be seen as the biggest threat to Hollywood since the arrival of television.
Tech mogul Elon Musk has promised to harness artificial intelligence to create his own version of “The Odyssey” after becoming a vocal critic of Christopher Nolan’s adaptation.
The White House pushed back after leftist actor Richard Gere blasted the Trump administration for doing away with the wasteful USAID program, which for decades sent billions of American tax dollars to fund far-left programs and politicians in foreign countries.
AI startup Anthropic is scheduling investor meetings ahead of a possible IPO, advancing preparations for what could be one of the year’s most significant technology listings after Elon Musk’s blockbuster SpaceX public offering.
Elon Musk’s SpaceX aborted a planned test flight of its Starship rocket Thursday when several of the Super Heavy booster’s engines failed to ignite during the final countdown sequence at the company’s South Texas launch facility.
Elon Musk’s SpaceX stock price has fallen below its IPO price of $135, marking a significant downturn for Elon Musk’s rocket and AI company just over a month after it began trading publicly.
The New York Times has published a piece about Bernadette Meehan, who this year became CEO of the Wikimedia Foundation, which owns Wikipedia. The article praised Meehan’s background in diplomacy, serving primarily during the Obama and Biden administrations, and claimed the site was “in peril” from right-wing critics and AI with Meehan arriving to protect it. Despite mentioning Wikipedia co-founder Larry Sanger, the piece fails to mention his ban from the site, which the Times covered.
The Department of Government Efficiency (DOGE) formally closed its operations on July 4 as investigating fraud government-wide becomes an integral part of the Trump administration’s agenda.
A Tesla Semi truck struck two passenger vehicles at a highway intersection in western Nevada on Sunday, killing a married couple and critically injuring another person in what authorities are considering the first known fatal crash involving Elon Musk’s new EV commercial truck.
Elon Musk has publicly criticized the philanthropic efforts of Jeff Bezos’ ex-wife MacKenzie Scott on social media, claiming her billions in charitable donations are making the world a worse place.
OpenAI is leaning toward postponing its IPO until next year, according to three people involved in the company’s deliberations, marking a significant shift in strategy for the AI powerhouse.
Actor John C. Reilly blasted Elon Musk for warning about empathy exploitation, bizarrely claiming that conservatives don’t care about “human rights.”
Elon Musk’s SpaceX may pursue an acquisition of T-Mobile if it cannot secure a wholesale network agreement to fuel its expansion of Starlink into the consumer mobile industry, according to an analyst.
Shares of Elon Musk’s SpaceX climbed five percent on Tuesday morning after briefly falling below its $150 debut price following several losing sessions that erased investors gains over its first week trading.
The concept of building AI data centers in orbit has gained renewed momentum following SpaceX’s record-breaking IPO that raised over $85 billion and valued the company in the trillions. Elon Musk’s success and the massive pushback against AI data centers in rural and suburban communities has spurred competitors including Jeff Bezos to develop their own plans for space-based data centers
A Tesla Model 3 crashed into a residence in Katy, Texas, killing a 76-year-old grandmother who was inside the home. The driver claims he was using Elon Musk’s “Autopilot” software at the time of the crash.
Yann LeCun, regarded as one of the “Godfathers of AI,” has publicly denounced Elon Musk’s AI company xAI, describing it as a “failure” and claiming Musk faces significant challenges in attracting top talent because the SpaceX and Tesla CEO has “not behaved in very good ways towards the previous team.”
Speculation is mounting among investors and analysts about a possible merger between Elon Musk’s two public companies, Tesla and SpaceX, following the rocket company’s blockbuster IPO that valued it at over a trillion dollars more than Musk’s electric vehicle manufacturer.
Actor Jeremy Allen White has praised the United Kingdom implementing a ban on social media, including apps like TikTok and YouTube, for children under 16.
Tesla CEO Elon Musk has vowed to sue German public broadcaster ZDF over a programme in which it accused the X owner of using his platform to encourage rioters in Belfast to “hunt migrants”.
The DOJ has intervened in a pollution lawsuit against Elon Musk’s xAI company, now a division of SpaceX, claiming the AI firm plays a vital role in military operations and national security.
Elon Musk’s SpaceX announced Tuesday it will acquire Anysphere, the software company behind the AI coding tool Cursor, in a $60 billion transaction aimed at expanding its footprint in the enterprise AI sector. Shares jumped more than nine percent in morning trading, giving SpaceX a similar market capitalization to Amazon.
Elon Musk’s SpaceX has continued the positive momentum from Friday’s IPO by jumping eight percent in morning trading. Analysts continue to issue mixed ratings on the company, with analyst CFRA initiating coverage with a sell rating.
German state media has accused Tesla trillionaire Elon Musk and anti-grooming gang activist Tommy Robinson of calling for the “hunting” of migrants in the wake of an alleged asylum seeker beheading attempt in Belfast.
4,000 current and former SpaceX employees are already mapping out plans to spend their anticipated wealth from the company’s expected initial public offering, with luxury real estate, high-end watches, and private jet travel topping their wish lists. Even the company’s cafeteria workers are expected to cash in on the rocket-based gravy train.
Millionaire left-wing TV host Jimmy Kimmel was slammed for warning against “obscenely wealthy weirdo” Elon Musk getting richer. “The class envy from multi millionaires of billionaires is really something to behold,” one X user quipped.
SpaceX opened trading Friday at $150 per share under the ticker SPCX following the largest IPO in history, with shares quickly climbing above $160 and pushing the company’s market capitalization beyond $2 trillion.
Financial research giant Morningstar has placed a fair value estimate of $63 per share on SpaceX, representing a 53 percent discount to the company’s upcoming initial public offering price of $135 per share. Other analysts believe Elon Musk’s rocket company will increase in value from its IPO price over the next year.
Iranian state media announced Thursday that all of Elon Musk’s business operations in the Middle East including SpaceX will be considered military targets as part of Iran’s ongoing retaliation against the United States.
Elon Musk’s SpaceX has reportedly attracted more than $250 billion in investor interest for its blockbuster IPO on Friday.
The FCC has granted Amazon a regulatory reprieve by waiving a requirement that the company launch half of its satellite broadband constellation by the end of July. The decision creates competition in the satellite broadband market for Elon Musk and SpaceX’s Starlink service.
