financetom
Business
financetom
/
Business
/
SpaceX to invest $2 billion in Musk's xAI startup, WSJ reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
SpaceX to invest $2 billion in Musk's xAI startup, WSJ reports
Jul 13, 2025 2:11 AM

July 12 (Reuters) - SpaceX has committed $2 billion to

xAI as part of a $5 billion equity round, deepening the ties

between tech billionaire Elon Musk's ventures as his artificial

intelligence startup races to compete with rival OpenAI, the

Wall Street Journal reported on Saturday.

The investment follows xAI's merger with X and values the

combined company at $113 billion, with the Grok chatbot now

powering Starlink support and eyed for future integration into

Tesla's Optimus robots, the report added.

In response to a post on X about whether Tesla,

could also invest in xAI, Elon Musk said on Sunday, "It would be

great, but subject to board and shareholder approval," without

confirming or denying the Journal report on SpaceX's investment

plans in xAI.

SpaceX, xAI and Tesla did not immediately respond to

requests for comment. Reuters could not immediately confirm the

WSJ report.

Despite recent controversies involving Grok's responses,

Musk has called it "the smartest AI in the world," and xAI

continues to spend heavily on model training and infrastructure.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Concerned carmakers race to beat China's rare earths deadline
Concerned carmakers race to beat China's rare earths deadline
Oct 20, 2025
LONDON/BERLIN (Reuters) -Global automakers are scouring the globe for crucial rare earths ahead of looming Chinese export controls, with executives worried they could lead to parts shortages and plant closures. Rare earth magnets power motors in car parts such as side mirrors, speakers, oil pumps, windshield wipers and fuel leakage and braking sensors. They play an even bigger role in...
Brazil's Ambipar files for bankruptcy, Bloomberg News reports
Brazil's Ambipar files for bankruptcy, Bloomberg News reports
Oct 20, 2025
Oct 21 (Reuters) - Brazilian waste management firm Ambipar has filed for bankruptcy protection in Brazil, Bloomberg News reported on Tuesday, citing a statement from the company. The group's U.S.-listed subsidiary, Ambipar Emergency Response ( AMBI ) filed for Chapter 11 bankruptcy in Texas, according to a court filing late on Monday. Ambipar did not respond to a Reuters request...
Russia to discuss extra tax incentives for oil refineries, TASS reports
Russia to discuss extra tax incentives for oil refineries, TASS reports
Oct 20, 2025
Oct 21 (Reuters) - Russia's ministries and agencies will consider new financial and tax support measures for oil refineries during a meeting of the task force on the petroleum products market on Wednesday, TASS news agency reported. TASS, citing the agenda for the October 22 meeting of the task force, said the discussion on the measures would include insurance mechanisms...
OVHcloud founder Klaba returns as CEO amid 1 billion euros revenue milestone
OVHcloud founder Klaba returns as CEO amid 1 billion euros revenue milestone
Oct 20, 2025
(Reuters) -OVHcloud, Europe's largest cloud provider, announced that French-Polish founder Octave Klaba has returned as CEO effective immediately, after the board decided to merge the chairman and CEO roles. The move coincides with the company surpassing 1 billion euros ($1.17 billion) in annual revenue for the first time. Klaba, who led the company from its founding in 1999 until 2018...
Copyright 2023-2026 - www.financetom.com All Rights Reserved