SpaceX acquires xAIPress Coverage
All-stock acquisition Feb 2, 2026 (xAI ~$250B, combined entity ~$1.25T — billed as the largest private merger in history); renamed SpaceXAI mid-year
The rename month differs between two sources; using "mid-2026"
Series EPress Coverage
Jan 2026: $20B (oversubscribed, originally targeting $15B); valuation ~$230B
Investors: Valor, Fidelity, QIA, MGX, NVIDIA, Cisco
FinancialsLaunched
SpaceX S-1: xAI FY2025 revenue $3.2B, net loss $6.4B; Q2 2026 AI revenue $2.56B (+213% YoY)
Q1 2026 operating loss -$2.47B; burn ~$1B/month
Cursor acquisitionLaunched
All-stock acquisition announced June 16, closed Aug 14; Cursor is now a wholly owned SpaceX subsidiary
Previously a radar-zone rumor; confirmed by the audit
Compute leased to AnthropicLaunched
SpaceX S-1 (May 2026) discloses lease through 2029-05; Anthropic IPO prospectus shows a $84.5B cap (through 2029), terminable on 90 days' notice
~$1.25B/month; previously a radar-zone rumor, confirmed by the audit
Compute leased to GoogleLaunched
Confirmed in person by Musk on 9-2 at the G20 innovation ministers' meeting; contract through 2029-06 (~110K GPUs), terminable on 90 days' notice after 2026-12-31
~$920M/month; previously a radar-zone rumor, confirmed by the audit
SPCX Nasdaq listingLaunched
Listed in June; raised $75B at $135/share (IPO valuation ~$1.77–1.8T)
Listing vehicle for the combined entity; previously a radar-zone rumor, confirmed by the audit