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Tesla and SpaceX are now worth over half a trillion dollars combined
With Tesla’s (NASDAQ:TSLA) rise on Thursday that saw the electric car maker end the day with a market cap of $473.259 billion, and amidst recent estimates from Wall Street suggesting that SpaceX is worth about $100 billion today, Elon Musk now stands as the CEO of two companies whose combined market cap stands at over half a trillion dollars. While impressive, it is pertinent to note that both companies are only getting started.
The milestone was acknowledged by Elon Musk himself on Twitter, who responded to a post shared by Box CEO Aaron Levie. In his tweet, Levie noted that Tesla and SpaceX’s half-a-trillion valuation today is proof that it’s possible to “transform earth and space travel at the same time.” Musk seemed quite excited in his response as well, responding with a short “Wild times!”
Tesla’s recent rally seems to be motivated in no small part by the EV maker’s upcoming addition to the S&P 500, one of the most notable benchmark indexes in the market. The company’s official addition to the S&P 500 came after Tesla posted five consecutive profitable quarters. This was despite the arrival of competing electric cars from established automakers, as well as the fact that the company still receives an immense amount of criticism from skeptics.
Nevertheless, Tesla has executed well on its plans this year, with the company still aiming to pursue its original goal of delivering 500,000 electric vehicles in 2020. Tesla seems to be on track to coming close, or perhaps even meeting, this ambitious goal, despite the fact that the world is still reeling from the ongoing pandemic. Tesla needs to deliver over 180,000 cars this Q4 to hit the 500,000-vehicle mark, and it appears that Elon Musk and his team intend to go full throttle with vehicle production and deliveries all the way to the end of the year.
Interestingly enough, even Elon Musk’s privately-owned space venture, SpaceX, has also caught the eye of Wall Street. Last month alone, estimates published by Morgan Stanley pointed to SpaceX having an estimated valuation of over $100 billion. Morgan Stanley listed several factors for its estimate, such as the company’s potential as an internet provider with its Starlink satellites, as well as its presence in the US launch market. “The pieces are coming together for SpaceX to create an economic and technology flywheel,” Morgan Stanley wrote.
What is remarkable is that both Tesla and SpaceX are nowhere near their respective endgames yet. Tesla’s mission is to accelerate the advent of sustainability. SpaceX, on the other hand, aims to turn humans into an interplanetary species. Both Tesla and SpaceX have taken significant steps towards their respective missions, but it’s evident that both companies are only getting started at this point. Needless to say, it appears that Tesla and SpaceX together could reach heights in the future that may very well be difficult to imagine today.
Disclaimer: I am long TSLA.
Elon Musk
Tesla Korea hiring AI Chip Engineers amid push for high-volume AI chips
Tesla Korea stated that it is seeking “talented individuals to join in developing the world’s highest-level mass-produced AI chips.”
In a recent post on X, Tesla Korea announced that it is hiring AI Chip Design Engineers as part of a project aimed at developing what the company describes as the world’s highest-volume AI chips. CEO Elon Musk later amplified the initiative.
Tesla Korea stated that it is seeking “talented individuals to join in developing the world’s highest-level mass-produced AI chips.”
“This project aims to develop AI chip architecture that will achieve the highest production volume in the world in the future,” Tesla Korea wrote in its post on X.
As per Tesla Korea, those who wish to apply for the AI Chip Design Engineer post should email Ai_Chips@Tesla.com and include “the three most challenging technical problems you have solved.”
Elon Musk echoed the hiring push in a separate post. “If you’re in Korea and want to work on chip design, fabrication or AI software, join Tesla!” he wrote.
The recruitment effort in South Korea comes as Tesla accelerates development of its in-house AI chips, which power its Full Self-Driving (FSD) system, Optimus humanoid robot, and data center training infrastructure.
Tesla has been steadily expanding its silicon development teams globally. In recent months, the company has posted roles in Austin and Palo Alto for silicon module process engineers across lithography, etching, and other chip fabrication disciplines, as noted in a Benzinga report.
Tesla Korea’s hiring efforts align with the company’s long-term goal of designing and producing AI chips at massive scale. Musk has previously stated that Tesla’s future AI chips could become the highest-volume AI processors in the world.
The move also comes amid Tesla’s broader expansion into AI initiatives. The company recently committed about $2 billion into xAI as part of a Series E funding round, reinforcing its focus on artificial intelligence across vehicles, robotics, and compute infrastructure.
Elon Musk
SpaceX and xAI tapped by Pentagon for autonomous drone contest
The six-month competition was launched in January and is said to carry a $100 million award.
SpaceX and its AI subsidiary xAI are reportedly competing in a new Pentagon prize challenge focused on autonomous drone swarming technology, as per a report from Bloomberg News.
The six-month competition was launched in January and is said to carry a $100 million award.
Bloomberg reported that SpaceX and xAI are among a select group invited to participate in the Defense Department’s effort to develop advanced drone swarming capabilities. The goal is reportedly to create systems that can translate voice commands into digital instructions and manage fleets of autonomous drones.
Neither SpaceX, xAI, nor the Pentagon’s Defense Innovation Unit has commented on the report, and Reuters said it could not independently verify the details.
The development follows SpaceX’s recent acquisition of xAI, which pushed the valuation of the combined companies to an impressive $1.25 trillion. The reported competition comes as SpaceX prepares for a potential initial public offering later this year.
The Pentagon has been moving to speed up drone deployment and expand domestic manufacturing capacity, while also seeking tools to counter unauthorized drone activity around airports and major public events. Large-scale gatherings scheduled this year, including the FIFA World Cup and America250 celebrations, have heightened focus on aerial security.
The reported challenge aligns with broader Defense Department investments in artificial intelligence. Last year, OpenAI, Google, Anthropic, and xAI secured Pentagon contracts worth up to $200 million each to advance AI capabilities across defense applications.
Elon Musk previously joined AI and robotics researchers in signing a 2015 open letter calling for a ban on offensive autonomous weapons. In recent years, however, Musk has spoken on X about the strengths of drone technologies in combat situations.
News
Doug DeMuro names Tesla Model S the Most Important Car of the last 30 years
In a recent video, the noted reviewer stated that the choice was “not even a question.”
Popular automotive reviewer and YouTuber Doug DeMuro has named the 2012 Tesla Model S as the most important car of the last 30 years.
In a recent video, the noted reviewer stated that the choice was “not even a question,” arguing that the Model S did more to change the trajectory of the auto industry than any other vehicle released since the mid-1990s.
“Unquestionably in my mind, the number one most important car of the last 30 years… it’s not even a question,” DeMuro said. “The 2012 Tesla Model S. There is no doubt that that is the most important car of the last 30 years.”
DeMuro acknowledged that electric vehicle adoption has faced recent headwinds. Still, he maintained that long-term electrification is inevitable.
“If you’re a rational person who’s truthful with yourself, you know that the future is electric… whether it’s 10, 20, 30 years, the future will be electric, and it was the Model S that was the very first car that did that truthfully,” he said.
While earlier EVs like the Nissan Leaf and Chevrolet Volt arrived before the Model S, DeMuro argued that they did not fundamentally shift public perception. The Model S proved that EVs “could be cool, could be fast, could be luxurious, could be for enthusiasts.” It showed that buyers did not have to make major compromises to drive electric.
He also described the Model S as a cultural turning point. Tesla became more than a car company. The brand expanded into Superchargers, home energy products, and a broader tech identity.
DeMuro noted that the Leaf and Volt “made a huge splash and taught us that it was possible.” However, he drew a distinction between being first and bringing a technology into the mainstream.
“It’s rarely about the car that does it first. It’s about the car that brings it into the mainstream,” he said. “The Model S was the car that actually won the game even though the Leaf and Volt scored the first.”
He added that perhaps the Model S’ most surprising achievement was proving that a new American automaker could succeed. For decades, industry observers believed the infrastructure and capital requirements made that nearly impossible.
“For decades, it was generally agreed that there would never be another competitive American car company because the infrastructure and the investment required to start up another American car company as just too challenging… It was just a given basically that you couldn’t do it. And not only did they go it, but they created a cultural icon… That car just truly changed the world,” he said.