spacex8 articles
SpaceX's Quiet Chinese Investors: Military-Linked Backers, Qatari Royals, and a Middleman Who Promised CFO Access
A ProPublica investigation has revealed that a Chinese businessman with ties to military contractors, along with other overseas investors from China, Hong Kong, and Russia, secretly acquired small stakes in SpaceX through a US middleman firm called Tomales Bay Capital between 2018 and 2021. This raises national security concerns given SpaceX's extensive work on sensitive US government contracts, such as building spy satellites for the Pentagon. The revelations are particularly notable as SpaceX recently barred Chinese and Hong Kong investors from its record-breaking IPO, citing "regulatory and compliance risks."
SpaceX Drops $60 Billion on Cursor to Close the Coding AI Gap
SpaceX has acquired Anysphere, the company behind AI coding assistant Cursor, for $60 billion in a stock deal, just days after SpaceX's Nasdaq IPO. The acquisition is driven by xAI's need to close the gap with OpenAI and Anthropic in AI-assisted coding, while also addressing a significant talent shortage within the division. Cursor gains access to SpaceX's large chip stockpile, and the two companies are already jointly developing a new AI model.
SpaceX Is Renting Out Its Nvidia Chips to Google for $920 Million a Month
SpaceX has signed a $920 million per month deal with Google, running from October 2026 to June 2029 and potentially worth around $30 billion in total, granting Google access to approximately 110,000 Nvidia AI chips to support its Gemini Enterprise agent platform. The agreement comes ahead of SpaceX's IPO, where Google — which holds a roughly 5% stake — stands to benefit from a strong debut. SpaceX has also secured a separate $1.25 billion monthly deal with Anthropic, positioning itself as a major AI infrastructure provider by leasing out computing capacity originally built for Musk's own xAI lab.
SpaceX Lands $2.3 Billion Contract to Build the Pentagon's Space Targeting Network
The US Space Force has awarded SpaceX a $2.29 billion contract to build the Space Data Network (SDN) Backbone, a low-Earth orbit communications network designed to connect military sensors and targeting systems globally and securely, leveraging technology from SpaceX's Starlink and Starshield satellite platforms. The contract comes after the Pentagon's previous Space Development Agency (SDA) approach — which distributed work across multiple contractors — stalled due to supply chain bottlenecks and integration difficulties. SpaceX is required to deliver a fully operational prototype by the end of 2027, though the decision to consolidate the network under a single company has raised concerns among lawmakers about competition and open standards.
SpaceX Is Burning $2.8 Billion on Gas Turbines While Regulators Circle Its AI Data Centres
SpaceX has committed over $2.8 billion to purchase gas turbines to power AI data centers for its xAI unit, which operates the Colossus 1 and Colossus 2 facilities in Tennessee and Mississippi. The investment comes despite public backlash, a lawsuit, and regulatory scrutiny over environmental concerns, including allegations that the company operated turbines without proper air permits. The disclosures emerged from SpaceX's IPO prospectus, as the company prepares to list on the Nasdaq stock exchange in the coming weeks.
SpaceX Starship Launch Scrubbed at T-40 Seconds While Crypto Billionaire Books Mars Seat
SpaceX aborted the twelfth Starship test flight with seconds to spare due to a ground equipment failure, specifically a hydraulic pin on the launch tower arm failing to retract. It was the first launch attempt from a new pad using the latest vehicle iteration, making reaching the T-40 second hold point a minor milestone in itself. During the scrub, SpaceX also announced that crypto billionaire Chun Wang will fly on a future Mars flyby mission.
SpaceX Tells IPO Investors That Grok's 'Unhinged' Mode Is, Officially, A Risk
In its IPO filing, SpaceX warned investors that Grok's "Spicy" and "Unhinged" AI modes pose significant reputational and regulatory risks, including ongoing investigations over allegations that Grok was used to generate sexualized imagery of apparent minors and several class action lawsuits. These risks emerged after SpaceX acquired Elon Musk's xAI startup in February, with the company setting aside $530 million for potential litigation losses. SpaceX's AI division, which includes X and xAI, recorded an operating loss of over $6.3 billion last year, though subscription revenues for Grok and X are growing steadily.
SpaceX's IPO Filing: Monopoly Ambitions, Mounting Losses, and Musk at the Controls
SpaceX has filed for a long-awaited IPO, arguing that its extreme vertical integration across rocket manufacturing, satellite deployment, AI, and data centre infrastructure makes it uniquely positioned to dominate a self-claimed $28.5 trillion total addressable market. Despite revenues of $18.7 billion in FY2025, the company posted a $4.9 billion loss, with losses accelerating into 2026. The filing grants Elon Musk near-total control as CEO, CTO, and board chairman, leaving investors largely betting on his vision and execution.