Quick Read

In the shadow of the massive SpaceX IPO, the stock of Elon Musk’s other big company is struggling. SpaceX could debut with a $2 trillion market cap as it raises $80 billion. It will need the money. The SpaceX loss in the first quarter was $4.3 billion against $4.69 billion in revenue. The loss was because of Musk’s AI ambitions. The AI division lost $2.5 billion. It hardly matters; Musk controls 85% of the SpaceX voting rights and can do as he pleases.

Musk has also said the future of Tesla (NASDAQ: TSLA) lies in AI and AI-related products, including its Robotaxi and Optimus robots (Tesla Bot). Musk says there will be 10 billion humanoid robots worldwide by 2040. These will be priced at $20,000 to…