Tesla Stock Rises. Musk’s Companies Had a Busy Weekend—EV Investors Take Note.

Tesla CEO Elon Musk, it seems, never sleeps. Neither can his investors.

Over the weekend, The Wall Street Journal reported that SpaceX, Elon Musk's rocket company, had invested $2 billion in xAI, Elon Musk's artificial intelligence company. Separately, The Financial Times reported that xAI was seeking a $200 billion valuation in a new capital raise.

The SpaceX investment likely relates to changes around the time xAI merged with X, Elon Musk's social media company. The $200 billion valuation is likely a separate transaction.

Tesla, SpaceX, and xAI, didn't respond to a request for comment. Musk, however, called the capital raise reference by the FT "false," adding xAI has "plenty of capital."…Read Full Article

Ken Anderson