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Amazon to buy satellite firm Globalstar for $11.57bn in challenge to Musk’s Starlink

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Deal, subject to regulatory approval, would give Bezos firm access to Globalstar’s network of two dozen satellitesAmazon said on Tuesday it would acquire a satellite company in an $11.57bn deal, bolstering its own fledgling space business as it looks to take on Elon Musk-led bigger rival Starlink.The deal gives Amazon access to Globalstar’s network of […]

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Musk’s SpaceX courts retail investors as it aims for record-breaking stock market flotation

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Elon Musk’s aerospace to AI company will host summer event to try to convince buyers it is worth $2tnBusiness live – latest updatesSpaceX will kick off the marketing for its highly anticipated stock exchange debut by hosting an event in June for 1,500 retail investors, as executives set out to convince buyers that the aerospace-to-artificial-intelligence

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Staff complain that xAI is flailing because of constant upheaval

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Elon Musk has ordered another round of job cuts at xAI after growing frustrated with the poor performance of its coding product, forcing out several more cofounders and parachuting in “fixers” from SpaceX and Tesla to audit the startup. The latest overhaul of the 2-year-old startup follows the success of Anthropic and OpenAI, whose AI

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Why has Elon Musk merged his rocket company with his AI startup?

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SpaceX’s acquisition of xAI creates business worth $1.25tn but whether premise behind deal will work is questionedThe acquisition of xAI by SpaceX is a typical Elon Musk deal: big numbers backed by big ambition.As well as extending “the light of consciousness to the stars”, as Musk described it, the transaction creates a business worth $1.25tn

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Elon Musk is taking SpaceX’s minority shareholders for a ride | Nils Pratley

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Merger with loss-making xAI looks to some investors more like a bailout than a rocket trip to the futureElon Musk merges SpaceX with xAI at $1.25tn valuationTo Elon Musk’s fan club, there is nothing to see apart from more evidence of the great man’s visionary genius. SpaceX, the rocket firm, is buying xAI, the artificial

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Elon Musk merges SpaceX with xAI at $1.25tn valuation

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Aerospace business and artificial intelligence firm to unite for IPO as world’s most valuable private companyBusiness live – latest updatesElon Musk’s aerospace company SpaceX has acquired his artificial intelligence business xAI, in a $1.25tn (£910bn) merger that consolidates part of Musk’s empire as SpaceX prepares to go public later this year.The two companies announced the

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SpaceX reportedly mulling Tesla merger or tie-up with Elon Musk’s xAI firm

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Rocket company examining feasibility of both options before potential $1.5tn stock market flotation, report saysBusiness live – latest updatesSpaceX is reportedly considering a potential merger with the electric carmaker Tesla, or a tie-up with artificial intelligence firm xAI, as Elon Musk looks at options to consolidate his global empire.The rocket company is examining the feasibility

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SpaceX mulls $1.5tn IPO timed to ‘align with Musk’s birthday and the planets’

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World’s richest person targeting symbolic date in June for flotation of rocket companyElon Musk’s SpaceX is considering a flotation valuing the rocket company at $1.5tn (£1.1tn) that will reportedly be timed for early summer to coincide with a planetary alignment and the multibillionaire’s birthday.The world’s richest person is targeting a symbolic date of mid-June for

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SpaceX lines up Wall Street banks as Musk eyes blockbuster IPO

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US aerospace tech company reportedly held talks last year over private share sale that values business at $800bnElon Musk’s SpaceX is reportedly lining up four Wall Street banks to help the company list on the stock market as investors prepare for an expected rush of US tech listings.SpaceX is considering Bank of America, JP Morgan,

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The year of the ‘hectocorn’: the $100bn tech companies that could float in 2026

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OpenAI, Anthropic, SpaceX and Stripe are rumoured to be among ten of the biggest companies considering IPOsYou’ve probably heard of “unicorns” – technology startups valued at more than $1bn – but 2026 is shaping up to be the year of the “hectocorn”, with several US and European companies potentially floating on stock markets at valuations

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