Elon Musk
xAI poised for funding surge as Musk seeks “proper value” for AI startup: report
The report was initially shared by CNBC’s David Faber during a segment on the Faber Report.
During a recent investor call, Elon Musk reportedly hinted at a major valuation adjustment for his artificial intelligence startup, with the Tesla and SpaceX CEO stating that he was looking to put a “proper value” on xAI.
The report was initially shared by CNBC’s David Faber during a segment on the Faber Report.
Investor Call Sparks Speculation
Citing sources who were reportedly involved in the call, Faber noted that while Musk did not specifically state that he was looking to initiate another funding round, his comments about a “proper valuation” for xAI were interpreted by Faber’s sources that xAI may be setting the stage for a notable capital raise in the near future.
“Let me give you some takeaways from the call itself. It was with a number of the companies, the investors in xAI going over a number of important things, that included the closing of the X transaction… Remember, xAI and X are now one company valuing X at $33 billion going in. xAI had a value of as much as $80 billion.
“What I’ve heard is the company is setting up for another capital raise of great significance… But on the call, Musk is quoted as having said, ‘We’re going to put a proper value on the company in reference to xAI,’ and people took that to mean, and again this is speculation, that they will have a large raise,” Faber stated.
xAI’s Growth and Ambitions
Launched in July 2023, xAI introduced its Grok chatbot to challenge Anthropic’s Claude and OpenAI’s ChatGPT. In March, Musk merged xAI with X. “xAI and X’s futures are intertwined,” Musk wrote on X. “Today, we officially take the step to combine the data, models, compute, distribution and talent.”
The merger leverages X’s data to train Grok, boosting xAI’s competitive edge. xAI has also made a lot of headway in the artificial intelligence space, thanks in part to its speed, which allowed it to set up Colossus, a supercomputer cluster comprised of 100,000 GPUs, in just 122 days. Colossus has since been expanded to 200,000 GPUs, and plans are underway to expand the supercomputer even further.
Elon Musk
Tesla reveals major info about the Semi as it heads toward ‘mass production’
Some information, like trim levels and their specs were not revealed by Tesla, but now that the Semi is headed toward mass production this year, the company finally revealed those specifics.
Tesla has revealed some major information about the all-electric Semi as it heads toward “mass production,” according to CEO Elon Musk.
The Semi has been working toward a wider production phase after several years of development, pilot programs, and the construction of a dedicated production facility that is specifically catered to the manufacturing of the vehicle.
However, some information, like trim levels and their specs were not revealed by Tesla, but now that the Semi is headed toward mass production this year, the company finally revealed those specifics.
Tesla Semi undergoes major redesign as dedicated factory preps for deliveries
Tesla plans to build a Standard Range and Long Range Trim level of the Semi, and while the range is noted in the company’s newly-released spec list, there is no indication of what battery size will be equipped by them. However, there is a notable weight difference between the two of roughly 3,000 lbs, and the Long Range configuration has a lightning-fast peak charging speed of 1.2 MW.
This information is not available for the Standard Range quite yet.
The spec list is as follows:
- Standard Range:
- 325 miles of range (at 82,000 lbs gross combination weight
- Curb Weight: <20,000
- Energy Consumption: 1.7 kWh per mile
- Powertrain: 3 independent motors on rear axles
- Charging: Up to 60% of range in 30 minutes
- Charge Type: MCS 3.2
- Drive Power: Up to 800 kW
- ePTO (Electric Power Take Off): Up to 25 kW
- Long Range:
- Range: 500 miles (at 82,000 lbs gross combination weight)
- Curb Weight: 23,000 lbs
- Energy Consumption: 1.7 kWh per mile
- Powertrain: 3 independent motors on rear axles
- Charging: Up to 60% of range in 30 minutes
- Charge Type: MCS 3.2
- Peak charging speed: 1.2MW (1,200kW)
- Drive Power: Up to 800 kW
- ePTO (Electric Power Take Off): Up to 25 kW
It is important to keep in mind that the Semi is currently spec’d for local runs, and Tesla has not yet released or developed a sleeper cabin that would be more suitable for longer trips, cross-country hauls, and overnight travel.
Tesla Semi sleeper section and large side storage teased in new video
Instead, the vehicle will be initially used for regional deliveries, as it has in the pilot programs for Pepsi Co. and Frito-Lay for the past several years.
It will enter mass production this year, Musk confirmed on X over the weekend.
Now that the company’s dedicated Semi production facility in Sparks, Nevada, is standing, the timeline seems much more realistic as the vehicle has had its mass manufacturing date adjusted on several occasions.
Elon Musk
Elon Musk pivots SpaceX plans to Moon base before Mars
The shift, Musk explained, is driven by launch cadence and the urgency of securing humanity’s long-term survival beyond Earth, among others.
Elon Musk has clarified that SpaceX is prioritizing the Moon over Mars as the fastest path to establishing a self-growing off-world civilization.
The shift, Musk explained, is driven by launch cadence and the urgency of securing humanity’s long-term survival beyond Earth, among others.
Why the Moon is now SpaceX’s priority
In a series of posts on X, Elon Musk stated that SpaceX is focusing on building a self-growing city on the Moon because it can be achieved significantly faster than a comparable settlement on Mars. As per Musk, a Moon city could possibly be completed in under 10 years, while a similar settlement on Mars would likely require more than 20.
“For those unaware, SpaceX has already shifted focus to building a self-growing city on the Moon, as we can potentially achieve that in less than 10 years, whereas Mars would take 20+ years. The mission of SpaceX remains the same: extend consciousness and life as we know it to the stars,” Musk wrote in a post on X.
Musk highlighted that launch windows to Mars only open roughly every 26 months, with a six-month transit time, whereas missions to the Moon can launch approximately every 10 days and arrive in about two days. That difference, Musk stated, allows SpaceX to iterate far more rapidly on infrastructure, logistics, and survival systems.
“The critical path to a self-growing Moon city is faster,” Musk noted in a follow-up post.
Mars still matters, but runs in parallel
Despite the pivot to the Moon, Musk stressed that SpaceX has not abandoned Mars. Instead, Mars development is expected to begin in about five to seven years and proceed alongside the company’s lunar efforts.
Musk explained that SpaceX would continue launching directly from Earth to Mars when possible, rather than routing missions through the Moon, citing limited fuel availability on the lunar surface. The Moon’s role, he stated, is not as a staging point for Mars, but as the fastest achievable location for a self-sustaining off-world civilization.
“The Moon would establish a foothold beyond Earth quickly, to protect life against risk of a natural or manmade disaster on Earth,” Musk wrote.
Elon Musk
SpaceX strengthens manufacturing base with Hexagon Purus aerospace deal
The deal adds composite pressure vessel expertise to SpaceX’s growing in-house supply chain.
SpaceX has acquired an aerospace business from Hexagon Purus ASA in a deal worth up to $15 million. The deal adds composite pressure vessel expertise to SpaceX’s growing in-house supply chain.
As per Hexagon Purus ASA in a press release, SpaceX has agreed to purchase its wholly owned subsidiary, Hexagon Masterworks Inc. The subsidiary supplies high-pressure composite storage cylinders for aerospace and space launch applications, as well as hydrogen mobility applications. Masterworks’ hydrogen business is not part of the deal.
The transaction covers the sale of 100% of Masterworks’ shares and values the business at approximately $15 million. The deal includes $12.5 million in cash payable at closing and up to $2.5 million in contingent earn-out payments, subject to customary conditions and adjustments.
Hexagon Purus stated that its aerospace unit has reached a stage where ownership by a company with a dedicated aerospace focus would best support its next phase of growth, a role SpaceX is expected to fill by integrating Masterworks into its long-term supply chain.
The divestment is also part of Hexagon Purus’ broader portfolio review. The company stated that it does not expect hydrogen mobility in North America to represent a meaningful growth opportunity in the near to medium term, and that the transaction will strengthen its financial position and extend its liquidity runway.
“I am pleased that we have found a new home for Masterworks with an owner that views our composite cylinder expertise as world-class and intends to integrate the business into its supply chain to support its long-term growth,” Morten Holum, CEO of Hexagon Purus, stated.
“I want to sincerely thank the Masterworks team for their dedication and hard work in developing the business to this point. While it is never easy to part with a business that has performed well, this transaction strengthens Hexagon Purus’ financial position and allows us to focus on our core strategic priorities.”