"OpenAI held a secondary share sale in October that valued it at $500 billion, taking the lead from Musk's SpaceX by a cool $100 billion. Not one to cede ground to a rival, Musk is now planning his own secondary share sale at SpaceX, according to an internal letter to employees seen by multiple outlets. It would value the company at a whopping $800 billion. If that happens soon, it means Musk would have only let Altman hold the mantle for a couple of months."
"If Elon Musk and Sam Altman like each other, they hide it well. In the latest turn in the rivalry, the two are battling over the top spot on the list of the world's most valuable private companies. While the two cofounded OpenAI together back in 2015, the partnership has frayed spectacularly since. Musk left OpenAI in 2018 and later founded rival startup, xAI. Musk or his company, xAI, has filed lawsuits against OpenAI."
OpenAI surpassed SpaceX in October after a secondary share sale valued OpenAI at $500 billion, topping SpaceX by about $100 billion. The cofounders' relationship has deteriorated since 2015; Musk left OpenAI in 2018 and later founded xAI, and legal disputes have followed. Elon Musk is planning a secondary share sale for SpaceX that would value the company at about $800 billion, according to internal communications, and is exploring a potential blockbuster IPO. OpenAI restructured this year to enable a future IPO. Investors are channeling massive funds into frontier technologies such as AI, robotics, and defense tech.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]