SpaceX

SpaceX was founded in 2002 by Elon Musk, pursuing an ambitious long-term mission of enabling human settlement of Mars, and building toward that goal through a series of increasingly capable and cost-effective rocket programs, most notably pioneering commercially viable reusable rocket technology with its Falcon 9 vehicle, whose first-stage boosters routinely land and are reflown on subsequent missions, dramatically reducing launch costs relative to the fully expendable rockets that had dominated the launch industry for decades and giving SpaceX a commanding position as the dominant launch provider globally by launch cadence and cost. SpaceX has continued developing Starship, an enormous fully reusable rocket system intended eventually to replace Falcon 9 and support both Mars mission ambitions and NASA's Artemis lunar program, for which SpaceX holds a contract to provide a Starship-based lunar lander, while its Starlink satellite internet constellation, comprising many thousands of satellites in low Earth orbit, has grown into a major and highly profitable business line providing broadband internet service to customers in areas poorly served by traditional terrestrial internet infrastructure. The company completed a landmark initial public offering in 2026 at a valuation of approximately $1.75 trillion, the most valuable IPO in history, ending its status as the most valuable private company after nine consecutive quarters atop Augment's Power 20 pre-IPO company rankings, and shortly after its IPO announced an agreement to acquire AI coding startup Cursor for approximately $60 billion in an all-stock transaction. SpaceX had raised substantial private funding over its history from investors including Founders Fund and Sequoia Capital prior to its public listing, and merged with Elon Musk's xAI in a separate 2025 transaction, with the combined entity subsequently operating as SpaceXAI.

News

11/13/2026

SpaceX AI group cuts about 60 Grok Imagine staff

SpaceX laid off roughly 60 Grok Imagine employees as it refocuses on AI coding tools and Grok Bot, leaving the video-generation product's future uncertain and potentially ceding ground to Chinese rivals.

The Information

11/8/2026

Roelof Botha joins SpaceX board, reportedly blindsiding Sequoia partners

Botha's SpaceX board appointment reportedly blindsided Sequoia partners, highlighting internal shifts at the storied venture firm and raising governance and influence questions over key portfolio company seats.

TechCrunch

11/6/2026

SpaceX Shifts to Compute Deals, Reducing Reliance on U.S. Contracts

Elon Musk says SpaceX will pivot toward on-orbit compute deals, shrinking dependence on U.S. government contracts and diversifying revenue beyond traditional rocket launches.

Bloomberg

11/5/2026

SpaceX Stock Drops 5.3% Amid Political Uncertainty

SpaceX stock falls 5.3% following a Democratic sweep in the midterms, complicating Elon Musk's merger plans and regulatory challenges, despite a new deal with Qualcomm for Starlink Mobile.

Yahoo Finance

11/4/2026

Goldman, Apollo Start Sales of SpaceX's $40 Billion Chip Financing

Goldman and Apollo are marketing parts of a roughly $40 billion chip-financing package for SpaceX, potentially altering financing and chip supply for the company's AI hardware expansion.

Bloomberg