SpaceX

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SpaceX sends Starship rocket into orbit for first time ever

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SpaceX sends Starship rocket into orbit for first time ever

A crucial day for SpaceX: Elon Musk's aerospace outfit launched Starship early Monday, getting the rocket into orbit for the first time. The test flight — Starship's 14th overall — could prove vital to SpaceX's future, which the company is building in large part around Starlink, its biggest and only profitable business. The launch carried more than two dozen new Starlink V3 satellites into space. Last month, Musk said, "It’s not out of the question that at some point, Starlink will deliver a majority of the world’s internet."

3 min read A Admin

SpaceX reached one of the most important milestones in the history of its Starship program early Monday, successfully sending the enormous rocket into orbit for the first time. The achievement came during Starship’s 14th integrated test flight and marked a...

SpaceX fortifies AI foothold with $60B Cursor deal

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SpaceX fortifies AI foothold with $60B Cursor deal

SpaceX officially owns Cursor after Elon Musk's juggernaut on Friday completed a $60 billion acquisition of the San Francisco-based coding startup. The deal, which was first announced in April, gives SpaceX a boost in its bid to compete with rivals Anthropic and OpenAI. Last month, SpaceX and Cursor debuted Grok 4.5, a joint model that specializes in coding, finance and legal tasks. Musk told SpaceX staff at a recent meeting that "AI will be 99% of the value of SpaceX" within about five years.

3 min read A Admin

SpaceX has officially completed its $60 billion acquisition of Cursor, the artificial intelligence coding startup behind one of the fastest-growing developer tools in the industry. The transaction became effective on August 14, marking a major expansion of...

SpaceX, Tesla to splash out $16.8B on AI-chip facility in Texas

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SpaceX, Tesla to splash out $16.8B on AI-chip facility in Texas

"Everything's bigger in Texas": Seems like Elon Musk is taking that old saying to heart. The billionaire entrepreneur on Thursday announced that SpaceX and Tesla will spend nearly $17 billion to build a massive AI chip complex in Grimes County, Texas. The planned 100-million-square-foot Terafab plant will employ at least 3,000 people, Musk said, to produce the cutting-edge chips needed to support SpaceX's orbital data centers and Tesla's Optimus robots. That $16.8 billion is just the start, though — Terafab's total cost could ultimately reach as much as $119 billion.

3 min read A Adam Hanafi

Elon Musk is making one of his biggest manufacturing bets yet with plans to build a massive artificial intelligence chip complex in Texas. Announced on Thursday, the project will be a joint effort between SpaceX and Tesla and is expected to transform Grimes...

SpaceX stock rises as 900M insider shares are unlocked

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SpaceX stock rises as 900M insider shares are unlocked

SpaceX stock rose slightly Thursday as lockup expirations made over 900 million shares newly available to trade. Representing some $100 billion in market value, the unlocked shares have doubled the number previously available, as SpaceX employees and early investors enter the market looking to lock in gains. The company's phased, nine-stage lockup structure aims to soften potential selling waves, but adds complexity for investors who are still holding on to SpaceX shares, which now sit below the $135 IPO price and have plunged since June.

3 min read A Adam Hanafi

SpaceX shares posted modest gains on Thursday even as one of the largest insider lockup expirations in recent market history officially took effect. More than 900 million previously restricted shares became eligible for trading, dramatically increasing the...

SpaceX investors free to unload $101B in stock amid slump

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SpaceX investors free to unload $101B in stock amid slump

SpaceX faces a major test as $101 billion in insider stock becomes tradable Thursday. Over 900 million shares will become available, more than doubling the roughly 639 million available now. The phased, nine-stage lockup structure aims to soften potential selling waves but adds complexity for investors who are still holding on to SpaceX shares, which now sit below the $135 IPO price and have plunged since June. "We're in uncharted waters," one investment manager tells WebNovare. With additional unlocks through December, trading conditions will likely remain unsettled.

1 min read A Admin

SpaceX faces a significant test on Thursday as $101 billion worth of insider stock becomes eligible for trading. More than 900 million shares will enter the market, more than doubling the approximately 639 million shares currently available. The company...

SpaceX reports first results since IPO

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SpaceX reports first results since IPO

SpaceX smashed revenue expectations in its first quarterly earnings report since its blockbuster IPO, though shares sank in after-market trading. Elon Musk's hybrid space-internet-AI company reported $7.81 billion in quarterly revenue on Tuesday — a 92% year-over-year jump — largely driven by the $4.29 billion amassed by its connectivity division. CFO Bret Johnsen noted that growth was spread "across all our business segments," with space and AI divisions also beating estimates. Connectivity remained the only profitable division, however, with AI capital expenditures ballooning to $15.8 billion in the quarter.

1 min read A Admin

SpaceX exceeded revenue expectations in its first quarterly earnings report since its high-profile IPO. Despite the strong results, the company’s shares declined in after-market trading. Elon Musk’s hybrid space, internet, and AI company reported $7.81...

Musk's Terafab plans to spend as much as $119B in Texas

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Musk's Terafab plans to spend as much as $119B in Texas

Terafab is coming to Texas, and it's spending big. SpaceX plans to splash out $55 billion building a new chipmaking plant in Grimes County, according to a newly posted public notice. Elon Musk's chip-production moonshot could ultimately spend as much as $119 billion "if additional phases of the project are completed." Terafab, a joint venture between SpaceX and Tesla, aims to boost semiconductor production to a level that can one day support a terawatt of computing power annually. A public hearing on the matter is scheduled for June 3.

2 min read WebNovare

SpaceX Proposes Massive Semiconductor Facility in Texas Elon Musk expands vertical integration with ambitious chip manufacturing plans Elon Musk’s SpaceX has unveiled plans for a major semiconductor manufacturing project in Texas, proposing an initial...