Valuations at Elon Musk’s SpaceX and xAI set to soar in new deals
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Two of Elon Musk’s private companies are set to secure multibillion-dollar jumps in valuation through new deals, as investors race to back the sprawling business interests of the world’s richest man.
xAI has been developing an enormous cluster of 100,000 graphics processing units, the chips used to train and run AI tools, in Memphis. The project, nicknamed Colossus, would be one of the biggest supercomputers in the world. Musk’s AI systems are likely to play a critical role across his many enterprises, which include X, Tesla, SpaceX and Neuralink.
SpaceX is also likely to benefit from closeness to Trump. As well as a long-stated ambition to launch a mission to Mars, Musk wants to add to the company’s network of 6,000 low Earth orbit satellites that constitute its Starlink broadband network. The billionaire has also regularly fought battles with an array of US regulators that he believes have stymied Tesla and SpaceX.
SpaceX declined to comment. Musk did not immediately respond to requests for comment.
