Elon Musk and Sam Altman are locked in a fierce competition over the valuation of their companies, OpenAI and SpaceX, respectively. Co-founders of OpenAI in 2015, their partnership has deteriorated since Musk’s departure in 2018 to launch competing firm xAI and file lawsuits against OpenAI. In October, OpenAI’s secondary share sale valued it at $500 billion, surpassing SpaceX by $100 billion. In response, Musk is planning a secondary share sale for SpaceX, which could push its valuation to $800 billion, potentially reclaiming the top private company spot. Musk also hinted at an initial public offering (IPO) for SpaceX, while OpenAI has restructured for a potential IPO to enhance its position. This rivalry reflects a surge in frontier-tech investments, encompassing AI, robotics, and defense tech, showcasing a paradigm shift in how investors view these once-speculative ventures. Thus, both companies symbolize the burgeoning landscape of cutting-edge technology investments.
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