News
Tesla, SpaceX, Elon Musk ventures cleared by SEC for private fundraising after tweet controversy
Tesla, SpaceX, The Boring Company (TBC), and Neuralink have all been granted waivers allowing them to continue raising capital by privately selling restricted securities (typically private equity or debt), heading off potential barriers that would increase the difficulty of raising capital through the sale of securities.
Cued by the commission’s settled suit over CEO Elon Musk’s improper and misleading dissemination of information material to Tesla shareholders, the United States Securities and Exchange Commission (SEC) has granted investment disqualification waivers – specifically “waivers of disqualification under Rule 506 of Regulation D” – to each of the four major companies owned by Elon Musk.
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- Building giant factories like Gigafactory 2 demands major capital investments that often require private equity sales. (Tesla)
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- Rockets are perhaps even more capital intensive. (SpaceX)
Losing the ability to raise funds in this manner would make it much harder for companies like Tesla and SpaceX to raise the money frequently needed for expansions and major R&D projects, described in the waiver requests as “extremely capital intensive.” However, the bulk of the arguments provided by each company’s legal representatives can be largely ignored. Arguing to the contrary – i.e. failing to make a strong case that the given company may need private equity investment – could close critical doors that each company may not need right this moment but would like to preserve as an option.
Still, each waiver request offers a slight glimpse into the inner-workings of SpaceX, TBC, and Neuralink, typically hidden from the public eye as privately held entities.
Tesla
Tesla, being a publicly-traded company, offered few secrets in its waiver request. However, it did publicize the best overview yet of what exactly the SEC’s demand for the regulation of Elon Musk’s Tesla-material communications might translate to inside the company. According to Tesla’s legal representatives, the company is arranging the creation of “new, permanent committee…of independent directors only [that] will provide an additional check on the procedures and processes for overseeing Mr. Musk’s Tesla-related public statements.” Tesla will also reportedly task “another experienced securities lawyer…to undertake an enhanced review of communications made through Twitter and other social media by the [sic] Tesla’s senior officers.”
The hope is that this new arrangement will prevent a recurrence of the misconduct that led to the SEC’s suit and the subsequent settlement. More likely, however, is that the threat of the modification or withdrawal of these four waivers will prevent Musk from stepping outside the bounds of the SEC’s binding settlement agreement, as doing so could truly harm the potential of all four companies.
SpaceX
In SpaceX’s waiver request, the company’s legal representatives confirmed that it has raised “more than $2 billion in [eleven separate] securities offerings” that fell under the purview of activities SpaceX would be disqualified from pursuing without a waiver from the SEC. The total value of investments on the public record currently hovers around $2.27 billion, including a partially-finished Series I round that has likely raised that to value to ~$2.5 billion since it surfaced in April 2018.
“The design and manufacture of launch vehicles and spacecraft is extremely capital intensive. SpaceX needs sufficient [and may need to raise additional] capital to fund its ongoing operations and future expansions, for example: development of its BFR launch vehicle and Crew Dragon spacecraft, continuing research and development projects, and making investments in tooling and manufacturing”
The Boring Company & Neuralink
As for TBC and Neuralink, the waivers didn’t offer anything unexpected, although they did provide great, brief overviews of what exactly the two companies are currently working towards. Although it was announced in late 2017 that Musk would sell stock to fund initial operations at TBC and Neuralink, both companies’ legal representatives confirmed the exact amount of funding raised by “Musk and various other third-party investors”: $112.5 million and $100.2 million, respectively.
Both expressly confirmed no intentions to pursue initial public offerings (IPOs) anytime soon, although Neuralink’s waiver indicated that it may invest in or acquire other companies pursuing brain-computer interfaces.
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- Musk believes that TBC will finish its first test-tunnel in roughly six weeks, in early December. (TBC)
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- The Boring Company’s next-gen tunnel-boring machine seen in its early stages, October 5th. [Credit: Tom Cross/Teslarati]
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- While we have no clue what Neuralink’s stealthed work has produced, it’s perhaps the most long-term venture Musk has started. The path to market for medical devices is very long and even more expensive.
The Boring Company
“The Boring Company (TBC) is a fast-growing infrastructure and transportation company focused on developing cost effective, and fast tunneling technology, along with electric mass transportation systems to alleviate the massive problem of traffic and congestion within cities. The research, development, design, manufacture, testing, and construction of tunnels and mass transit systems is a capital intensive business. TBC needs sufficient capital to fund its ongoing operations and future expansions, for example: continued development and improvement of Tunnel Boring Machines (“TBMs”) and electric skates, the construction of mass transit tunnels including publicly announced projects in Chicago, Los Angeles, and Washington D.C..”
Neuralink
“Neuralink is a fast-growing bio-technology and medical device company focused on developing high bandwidth, long term, brain computer interfaces (“BCI”). The research, development, design, manufacture, testing, and certification of medical devices and BCI’s is purely capital intensive business requiting deep investment for years prior to any initial revenue. Neuralink needs sufficient capital to fund its ongoing operations and eventually bringing products to marked, for example: continued development of BCI’s, continued testing of implantable devices, financing of multi-year FDA trials and certifications, and the construction of FDA-approved manufacturing facilities. Neuralink will need to raise capital for these operations and expansions, and given the development stage of the company, it is most likely that such financing will be through private securities offerings in reliance on Rule 506 of Regulation D.”
News
Tesla begins ‘honorable discharge’ of Model S, X with massive move
In a significant development that marks the beginning of the end for two of its longest-running models, Tesla has removed the custom order configurator for the Model S sedan and Model X SUV from its website.
Tesla has officially started the “honorable discharge” of the Model S and Model X with a massive move, removing the two vehicles from Custom Orders and only offering inventory options.
It is the latest move Tesla has made to pull the Model S and Model X from its lineup, a decision CEO Elon Musk announced during its last quarterly earnings call.
Tesla brings closure to flagship ‘sentimental’ models, Musk confirms
In a significant development that marks the beginning of the end for two of its longest-running models, Tesla has removed the custom order configurator for the Model S sedan and Model X SUV from its website.
As of April 1, visitors to tesla.com/model-s and tesla.com/modelx are now redirected exclusively to limited inventory listings rather than a design studio, allowing buyers to select paint, wheels, interior options, or performance upgrades. Only pre-built vehicles currently in stock are available for purchase or lease.
Tesla CEO Elon Musk confirmed the change directly on X, posting: “Custom orders of the Tesla Model S & X have come to an end. All that’s left are some in inventory.”
Custom orders of the Tesla Model S & X have come to an end. All that’s left are some in inventory.
We will have an official ceremony to mark the ending of an era. I love those cars.
This was me at production launch 14 years ago: pic.twitter.com/6kvCf9HTHc
— Elon Musk (@elonmusk) April 1, 2026
We will have an official ceremony to mark the end of an era.” Accompanying the statement was a throwback photo from the Model S production launch in 2012, underscoring the emotional weight of the decision.
Musk had first signaled the phase-out during the company’s Q4 2025 earnings call in January, describing it as time for an “honorable discharge” of the programs to free up resources at the Fremont factory for Optimus humanoid robot production and autonomous vehicle initiatives.
The Model S, introduced in 2012, and the Model X, which followed in 2015, were instrumental in establishing Tesla as a premium electric vehicle leader.
The sedan offered class-leading range and acceleration, while the SUV’s signature falcon-wing doors became an iconic feature. Together, they proved EVs could compete in the luxury segment. Yet sales volumes have dwindled in recent years as Tesla prioritized higher-volume Model 3 and Model Y vehicles.
The flagships now represent a tiny fraction of overall deliveries, making continued custom production inefficient as the company accelerates toward robotaxis and next-generation platforms.
Prospective buyers are urged to act quickly. Remaining U.S. inventory vehicles—some nearly new—may include incentives such as lifetime free Supercharging, Full Self-Driving (Supervised) capability, and premium connectivity, depending on configuration.
Leasing options start around $1,699 per month for select Model X units, though exact pricing and availability fluctuate. International markets, including Europe and China, have already seen similar restrictions in recent months.
The move aligns with Tesla’s broader strategy to streamline its lineup and redirect manufacturing capacity toward autonomy and AI-driven products. While some enthusiasts lament the loss of personalization, the company views the transition as necessary progress.
Tesla has indicated that once the current inventory sells out, new Model S and Model X vehicles will no longer be offered.
For loyal owners and fans, the promised “official ceremony” may provide a fitting send-off. In the meantime, the website change serves as a clear signal: the era of bespoke flagship Teslas has quietly concluded, and the focus has fully shifted to the future.
Elon Musk
SpaceX files confidentially for IPO that will rewrite the record books
SpaceX files confidentially for a record-breaking IPO targeting a $1.75T valuation and $80B raise, driven by Starlink growth and its xAI merger.
Elon Musk’s rocket and satellite company submitted its draft registration to the U.S. Securities and Exchange Commission today for an initial public offering, targeting June at a $1.75 trillion valuation. This would be the largest in history.
SpaceX has filed confidentially with the SEC, first reported by Bloomberg. SpaceX would be valued above every S&P 500 company except Nvidia, Apple, Alphabet, Microsoft, and Amazon.
The filing uses a confidential process that allows companies to work through SEC disclosures privately before initiating a public roadshow. With a June target, official details through a formal prospectus is expected to go public in April or early May, after which SpaceX must wait at least 15 days before beginning investor marketing.
While SpaceX is best known for its Falcon 9 and Starship rockets, the $1.75 trillion valuation is anchored by Starlink, its satellite internet service. Starlink ended 2025 with 9.2 million subscribers and over $10 billion in revenue, which is a figure analysts project could reach a staggering $24 billion by the end of 2026. A February all-stock merger with xAI, Musk’s artificial intelligence venture, further boosted the valuation.
SpaceX officially acquires xAI, merging rockets with AI expertise
Bank of America, Goldman Sachs, JPMorgan Chase, and Morgan Stanley are lined up as senior underwriters. SpaceX is also considering a dual-class share structure to preserve insider voting control, and plans to allocate up to 30% of shares to retail investors, which is roughly three times the typical norm.
Elon Musk
Elon Musk hints at “official ceremony” with throwback photo to close Tesla Model S, Model X chapter
Elon Musk promises an official ceremony to mark the end of Tesla Model S and Model X production.
Tesla has officially begun winding down production of the Model S and Model X, sending farewell emails to U.S. customers on March 27 and updating the website to reflect the end of the line. Shoppers visiting Tesla.com now find only a limited set of Model S and Model X inventory units available for purchase, with no option to configure a new factory build. The move formalizes what CEO Elon Musk announced on the company’s Q4 2025 earnings call in January, when he said it was “time to basically bring the Model S and X programs to an end with an honorable discharge.”
Musk posted on X a throwback photo of himself speaking at the Model S production launch in 2012, and noting “We will have an official ceremony to mark the ending of an era. I love those cars.”
The mention of an official ceremony is notable. Tesla has not held a formal farewell event for a vehicle before, and Musk’s wording suggests this will be something deliberate rather than a quiet line shutdown. Given that Musk’s X post shows a photo of him on stage with a microphone in front of an audience at the Fremont factory, it wouldn’t be too far-fetched to expect a closing ceremony to take place at the same location. Perhaps? Whether it becomes a public event, a private gathering for employees, or a livestreamed moment on X remains to be seen.
Custom orders of the Tesla Model S & X have come to an end. All that’s left are some in inventory.
We will have an official ceremony to mark the ending of an era. I love those cars.
This was me at production launch 14 years ago: pic.twitter.com/6kvCf9HTHc
— Elon Musk (@elonmusk) April 1, 2026
The Model S first went on sale nearly fifteen years ago and was Tesla’s first fully in-house designed vehicle, proving that an electric car could be fast, desirable, and capable of long distance on a single charge. The Model X followed in 2015, turning heads with its unmistakable and distinctive falcon-wing doors, while becoming one of the first all-electric SUVs on the market. Tesla’s two flagship vehicles would ultimately push legacy automakers to take all-electric transportation seriously and help fund development of the more affordable Model 3 and Model Y.
By 2025, however, both models had been reduced to a rounding error in Tesla’s sales figures. Musk was direct about what comes next, stating “We are going to convert that production space to an Optimus factory. It’s part of our overall shift to an autonomous future.”
Elon Musk’s $10 Trillion robot: Inside Tesla’s push to mass produce Optimus
That shift is already underway. Tesla officially started Optimus Gen 3 production at its Fremont factory in January 2026, with the line targeting a run rate of one million units per year. The Gen 3 robot features 22 degrees of freedom per hand, runs on Tesla’s AI5 chip, and shares the same neural network architecture as Full Self-Driving. A dedicated Optimus factory at Gigafactory Texas is also under construction, with a planned annual capacity of 10 million units. The production lines that once built the Model S and Model X are being converted to support that ramp.
Tesla confirmed it will continue to support existing owners with service, software updates, and parts for as long as people own the vehicles. For buyers still interested in a new example, remaining U.S. inventory is discounted and the window is closing fast.
Tesla begins ‘honorable discharge’ of Model S, X with massive move
SpaceX files confidentially for IPO that will rewrite the record books
Elon Musk hints at “official ceremony” with throwback photo to close Tesla Model S, Model X chapter
Elon Musk says Tesla is developing a new vehicle: ‘Way cooler than a minivan’
Elon Musk launches TERAFAB: The $25B Tesla-SpaceXAI chip factory that will rewire the AI industry
