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Tesla, SpaceX, Elon Musk ventures cleared by SEC for private fundraising after tweet controversy

(SpaceX)

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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.

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.

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A fleet of red Dual Motor/Performance Tesla Model 3s captured on July 10, 2018 at the Fremont factory [Credit: RS Metrics via Twitter]

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.

Building giant rockets and the factories needed for production is no less expensive. (Pauline Acalin)

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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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.”

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Eric Ralph is Teslarati's senior spaceflight reporter and has been covering the industry in some capacity for almost half a decade, largely spurred in 2016 by a trip to Mexico to watch Elon Musk reveal SpaceX's plans for Mars in person. Aside from spreading interest and excitement about spaceflight far and wide, his primary goal is to cover humanity's ongoing efforts to expand beyond Earth to the Moon, Mars, and elsewhere.

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Tesla launches amazing new feature for shared vehicles

Tesla has quietly introduced one of its most practical software features yet in update 2026.8: real-time visibility of the active driver profile directly in the Tesla mobile app. Available under the Security & Drivers section, this new tool lets owners see exactly who is behind the wheel or who last drove the vehicle.

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Credit: Tesla

Tesla is launching an amazing new feature for shared vehicles, giving owners more transparency when they choose to have a Tesla ownership experience with another driver.

This is one of the many advantages of having a Tesla. New features are constantly rolled out through software updates and Over-the-Air fixes, which download directly to the car with an internet connection.

Tesla has quietly introduced one of its most practical software features yet in update 2026.8: real-time visibility of the active driver profile directly in the Tesla mobile app. Available under the Security & Drivers section, this new tool lets owners see exactly who is behind the wheel or who last drove the vehicle.

The feature works seamlessly. While the car is driving, the app displays the name of the currently selected driver profile in real time.

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When the vehicle is parked or asleep, it shows the last active profile.

Requiring both the 2026.8 vehicle software and the latest Tesla app, the update brings this capability to every model in the lineup, including legacy Model S and Model X vehicles, which are unfortunately being phased out of the company lineup later this year.

Tesla makes latest move to remove Model S and Model X from its lineup

The feature was first reported on by Not a Tesla App.

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Tesla driver profiles have always excelled at personalization, automatically adjusting seat positions, mirrors, steering wheel height, climate settings, navigation recents and favorites, and media preferences.

These profiles link to specific phone keys for automatic activation and support PIN protection for privacy and security. Restricted profiles for teens can also limit speed or features.

This feature shines brightest in single-car households with multiple drivers. Families, couples, and roommates frequently share one Tesla, leading to constant adjustments and questions about settings. Now, a quick app check reveals the current profile, allowing users to anticipate seat configurations or confirm usage without entering the vehicle.

Tesla’s cloud-synced driver profiles to bring custom settings across multiple cars

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Parents particularly benefit: they can verify that teens are driving under their assigned (and possibly restricted) profiles, adding a layer of safety oversight and peace of mind. Teslas are already so incredibly safe that many parents dream of putting their kids in one.

Two kids around the same age could now share a Tesla, and this feature would make that effort, which is likely to be a difficult one at times, more seamless.

Beyond convenience, it promotes accountability and reduces everyday friction. No more manual profile switching or arguments over mirror positions. Before approaching the car, anyone can check the app and know exactly what to expect, no more wasted minutes readjusting everything.

In multi-driver setups, it transforms the shared EV into a truly intelligent, user-aware machine that respects individual preferences while keeping the primary owner informed.

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Tesla’s commitment to over-the-air updates continues to enhance ownership value years after purchase.

This small but significant addition highlights how software can solve real-world problems in multi-user environments, making Tesla vehicles more family-friendly and practical than ever. For the millions of owners sharing a single car, the 2026.8 update delivers transparency, time savings, enhanced safety, and effortless personalization. It is a great new feature that is rolling out to vehicles now.

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Elon Musk

Elon Musk’s TERAFAB project: Everything you need to know

The CEO has hinted heavily for several quarters that it would probably need to produce its own computing power to stay up to speed on the demand it is facing for its projects. It is now taking matters into its own hands.

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Credit: SpaceX

On Sunday, Elon Musk formally made TERAFAB official—a groundbreaking $20-25 billion joint venture uniting Tesla, SpaceX, and xAI, three of the world’s richest man’s most significant and powerful ventures.

Musk described the project as “the most epic chip building exercise in history by far.”

Elon Musk launches TERAFAB: The $25B Tesla-SpaceXAI chip factory that will rewire the AI industry

The initiative aims to produce over one terawatt of AI compute annually, dwarfing the global industry’s current output of roughly 20 gigawatts per year. Musk framed the effort as “the next step towards becoming a galactic civilization,” positioning it as essential for scaling humanity into a multi-planetary species.

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The Need for TERAFAB

Existing chip suppliers such as TSMC, Samsung, and Micron cannot expand quickly enough to meet the explosive demand for AI hardware.

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Musk explained the situation clearly:

“We’re very grateful to our existing supply chain… but there’s a maximum rate at which they’re comfortable expanding. We either build the Terafab or we don’t have the chips, and we need the chips, so we build the Terafab.”

The CEO has hinted heavily for several quarters that it would probably need to produce its own computing power to stay up to speed on the demand it is facing for its projects. It is now taking matters into its own hands.

Chip Types and Production Goals

The facility will manufacture two specialized chip families, according to the presentation:

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  • Edge-inference AI5 and AI6 processors optimized for Tesla’s Optimus humanoid robots and Full Self-Driving systems in vehicles and Robotaxis
  • High-power D3 chips hardened for space environments

Musk outlined annual output targets, which are between 100 and 200 gigawatts of terrestrial compute for robotics, supporting Musk’s vision of producing 1-10 billion Optimus units per year, and the majority (80%) of chips dedicated to orbital AI data centers. Overall, TERAFAB aims to produce 100-200 billion custom AI and memory chips each year.

Scale and Strategy

The size of the TERAFAB project will be remarkable, as Musk indicated after the presentation that the entire Gigafactory Texas campus would not be large enough to fit the needs of the project. In fact, Musk said it would be around 100 million square feet in size, the equivalent of 15 Pentagons or three Central Parks.

Yes, the one in New York City.

Construction will begin with an “advanced technology fab” on the Giga Texas campus in Austin, enabling rapid iteration: design a chip, fabricate lithography masks, produce and test wafers, all within days.

However, the full-scale TERAFAB requires thousands of acres and over 10 gigawatts of power, far exceeding what Giga Texas can accommodate. Musk stated:

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“We couldn’t possibly fit the Terafab on the GigaTexas campus. It will be far bigger than everything else combined there.”

Multiple large sites are currently under consideration, but this will need a sprawling land mass to get started.

Key Applications

TERAFAB will be a crucial part of the development of some of Tesla’s most valuable projects, including Optimus and data center development, especially from an orbital standpoint. For that reason, we will break this down into Terrestrial and Orbital applications:

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  • Terrestrial: Powers autonomous vehicle fleets and billions of Optimus robots performing physical labor
  • Orbital: Starship will launch massive AI satellite constellations, starting with 100-kilowatt “Mini” units, and scaling to larger Megawatt models, creating the world’s largest data center in low-Earth orbit.

Space-based advantages include five times greater solar irradiance, efficient vacuum heat rejection, and freedom from terrestrial grid constraints (U.S. electricity generation totals just 0.5 terawatts). Musk emphasized the principle:

“Quantity has a quality all its own.”

We wrote about SpaceX’s recent filing with the FCC for 1 million orbital data center plans.

Strategic Vision

TERAFAB represents vertical integration at an unprecedented scale, combining AI hardware, robotics, and orbital infrastructure.

Musk described the project as “the final missing piece of the puzzle.” With production ramping toward 2027, TERAFAB is set to accelerate an era of abundance, transforming science fiction into reality and positioning Musk’s companies at the forefront of galactic-scale innovation.

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Elon Musk offers to pay TSA salaries as government shutdown leaves agents without paychecks

Elon Musk offered to personally cover TSA salaries as the DHS shutdown deepens travel chaos nationwide.

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Elon Musk says that he is willing to personally cover the salaries of Transportation Security Administration (TSA) workers caught in the crossfire of a partial government shutdown that has now dragged on for over a month. “I would like to offer to pay the salaries of TSA personnel during this funding impasse that is negatively affecting the lives of so many Americans at airports throughout the country,” Musk wrote.


The offer arrives as Congress let funding expire for the Department of Homeland Security on February 14, amid a disagreement over immigration enforcement, leaving most TSA employees classified as essential and on duty but working without pay. The timing could not be more disruptive, as the shutdown is colliding directly with spring break travel season when millions of Americans are in the air.

This is not the first time TSA workers have endured this kind of hardship. TSA agents are being asked to work without pay until congressional action unblocks their paychecks, having previously held out through the longest government shutdown in U.S. history at 43 days. The pattern reveals a systemic failure in how Congress funds critical security infrastructure, and Musk’s offer shines a spotlight on that recurring failure at a moment when the public is directly feeling its effects through long lines and terminal closures.

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Whether Musk can legally follow through remains unclear, as federal law generally prohibits government employees from receiving outside compensation related to their official duties.

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