Elon Musk’s ventures are generating significant funding, despite his reduced involvement with government work. xAI, a company behind the AI chatbot Grok, plans to raise $300 million at a valuation of $113 billion through employee share sales. This valuation aligns with the blended values of xAI and social network X, which were announced in March.
Neuralink, another Musk-backed business, recently secured $650 million in funding. An earlier report stated that Neuralink had raised $600 million at a $9 billion valuation. Musk’s other companies, including SpaceX, continue to receive investments.
Musk has been making headlines for stepping back from government work, particularly with the Department of Government Efficiency (DOGE). Despite this, Tesla shares remain stable, bouncing off early 2025 lows. The company is focusing on its technology and expects significant milestones this month, including a robotaxi launch in Austin, Texas.
As of recent trading, Tesla shares were down 1.5% at $341. Investors closely watch the company’s performance amid sagging first-quarter auto sales.
Source: https://www.investopedia.com/elon-musk-has-stepped-away-from-doge-he-still-has-plenty-going-on-11746581