As of July 2026, Elon Musk is the world's first trillionaire after SpaceX's IPO, and his AI company xAI has been renamed to SpaceXAI and absorbed into SpaceX. He is also disputing a Wall Street Journal report about an AI device prototype and petitioning to void an FTC consent order against Twitter.
SpaceX went public on June 11, 2026, with shares closing at $160.9 and a market cap of $2.1 trillion. The IPO pushed Elon Musk's net worth past $1 trillion in a single day, making him the world's first trillionaire. Musk holds majority voting shares, making SpaceX a controlled company exempt from independent oversight rules. The company handles 82% of U.S. rocket launches but burned $4.9 billion in 2025 and could exhaust its IPO funds within two and a half years.
Since the IPO, Musk has been active on multiple fronts. He denied a Wall Street Journal report that SpaceX showed investors a prototype AI device thinner than an iPhone, calling it 'Utterly false.' He announced Grok 4.5, based on a 1.5 trillion parameter model called V9, with beta testing underway at SpaceX and Tesla. He also petitioned the FTC to rescind a 2022 consent order against Twitter, arguing the company no longer exists after being renamed to X and acquired by xAI and then SpaceX. The FTC is accepting public comments until July 2, 2026.
xAI officially renamed to SpaceXAI on July 7, 2026, formalizing its absorption into SpaceX after the February acquisition. The move was consistent with Musk's earlier indication that xAI would dissolve into a SpaceX product. Meanwhile, China designated brain-computer interface as a national strategic priority and approved a commercial invasive BCI device ahead of Neuralink, putting Musk's other venture in a competitive position.
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Elon Musk's AI startup xAI officially changed its name to SpaceXAI on July 7, 2026, as reflected on its X account and website. The move follows SpaceX's acquisition of xAI in February 2026 and xAI's prior purchase of X in March 2025. Musk had indicated the name change in a post in early May, stating xAI would dissolve into a SpaceX product.
The Wall Street Journal reported that SpaceX showed investors a prototype AI device thinner than an iPhone ahead of its June IPO. Elon Musk posted "Utterly false" about 30 minutes after the article was published, denying the report without further explanation.
Elon Musk announced Grok 4.5, based on a 1.5 trillion parameter model called V9, with additional training on Cursor data. Beta testing is underway at SpaceX and Tesla. Initial evaluations show performance close to or exceeding Claude Opus in some cases. Musk said new models trained from scratch will release monthly from SpaceX.
SpaceX went public on the NASDAQ on June 11, closing at $160.9 per share with a market cap of $2.1 trillion. Elon Musk's net worth rose over $180 billion in a single day, surpassing $1 trillion and exceeding the GDP of Taiwan, Sweden, and Singapore. Musk holds majority voting shares, making SpaceX a controlled company exempt from independent oversight rules.
Elon Musk has petitioned the FTC to rescind a 2022 consent order against Twitter, arguing the company no longer exists after being renamed to X and acquired by xAI and then SpaceX. The FTC is accepting public comments until July 2, 2026, before deciding.
China has designated brain-computer interface technology as a key industry in its five-year plan, making it a national strategic priority. On the same day, a Shanghai startup received approval for NEO, a minimally invasive BCI device placed on the brain's protective membrane, claiming the world's first commercial invasive BCI ahead of Elon Musk's Neuralink.