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SpaceX shareholders approve 5 for 1 split as Nasdaq IPO date nears June 12

SpaceX shareholders approve 5 for 1 split as Nasdaq IPO date nears June 12

SpaceX shareholders have approved the board recommended 5 for 1 stock split, according to Bloomberg. Shareholders were emailed that the stock’s fair market value would be adjusted to $105.32 per share from $526.59. The split is expected to be processed during the week of May 18 and completed by May 22. Separately, Reuters reports SpaceX is aiming to list on Nasdaq as early as June 12, with plans to pursue a massive capital raise at a valuation around $1.75 trillion.

Summarised by Beize from a story on The Economic Times on 16 May 2026
SpaceX speeds up IPO with June 11 pricing and a possible June 12 Nasdaq debut

SpaceX speeds up IPO with June 11 pricing and a possible June 12 Nasdaq debut

SpaceX has accelerated its IPO plans, with pricing expected as early as June 11 and a potential Nasdaq debut by June 12, sources told Reuters. The company is moving to make its prospectus public as early as next Wednesday, launching a roadshow around June 4. This schedule pulls the process forward from a previously expected late-June timeframe. A faster-than-expected SEC review of its filing is cited as a key driver, while Nasdaq 100 index inclusion remains part of the strategy.

Summarised by Beize from a story on The Economic Times on 15 May 2026

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Musk and Jensen Huang reunite in Beijing after a decade, and one caption says it all

Musk and Jensen Huang reunite in Beijing after a decade, and one caption says it all

U.S. President Donald Trump’s Beijing visit drew extra buzz with Elon Musk and Nvidia CEO Jensen Huang joining talks on Iran, trade, and AI. The reunion spotlighted their decade-long friendship, reignited when Musk reposted photos from 2016 and 2026 and endorsed a quote about true friends with a one-word reply. Huang’s AI legacy adds weight: in 2016 he personally delivered Nvidia’s first AI-focused supercomputer to OpenAI, built over five years, signaling a partnership that shaped today’s AI push.

Summarised by Beize from a story on The Economic Times on 15 May 2026
Musk vs OpenAI Heads to Verdict as Altman Credibility Attacked in Closing Arguments

Musk vs OpenAI Heads to Verdict as Altman Credibility Attacked in Closing Arguments

In closing arguments near the end of an Oakland federal trial, Elon Musk’s lawyers attacked OpenAI CEO Sam Altman’s credibility, arguing he misled investors and jurors in a dispute over whether OpenAI turned its nonprofit mission into an insiders’ profit engine. Musk claims he was manipulated into donating $38 million and wants about $150 billion in damages, alongside removal of Altman and Greg Brockman. OpenAI counters that Musk sought control and sued too late, blaming “selective amnesia.”

Summarised by Beize from a story on Republic on 15 May 2026
Elon Musk vs Sam Altman Jury Questions Explained What the Verdict Can Really Change

Elon Musk vs Sam Altman Jury Questions Explained What the Verdict Can Really Change

Nine California jurors are deliberating in Elon Musk’s case against OpenAI’s founders and Microsoft, but the courtroom fight boils down to a few specific legal questions. Jurors must weigh whether OpenAI breached a charitable trust tied to Musk’s donations, whether executives were unjustly enriched via OpenAI’s for-profit arm, and whether Microsoft knowingly aided any breach. OpenAI counters with statute of limitations, unreasonable delay, and “unclean hands,” while both sides prepare hearings on what a plaintiffs’ win could mean for OpenAI’s structure.

Summarised by Beize from a story on TechCrunch on 14 May 2026
SpaceXAI merger aftermath: over 50 researchers and engineers quit, sparking fears of burnout and culture collapse

SpaceXAI merger aftermath: over 50 researchers and engineers quit, sparking fears of burnout and culture collapse

SpaceXAI, Elon Musk’s newly rebranded merger of SpaceX and xAI, is reportedly losing significant talent. The Information says more than 50 researchers and engineers have left since February, including leaders tied to coding, world models, and Grok voice. Rivals such as Meta and Thinking Machine Labs are reportedly hiring away former staff, while SpaceXAI’s core pre-training team has dwindled to only a few people. The report cites burnout, leadership changes, aggressive deadlines, and possible retention issues tied to equity timing.

Summarised by Beize from a story on TechCrunch on 14 May 2026

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California and New York pension chiefs warn SpaceX IPO rules could leave investors powerless

California and New York pension chiefs warn SpaceX IPO rules could leave investors powerless

Three of America’s largest public pension systems have urged Elon Musk to change SpaceX’s planned governance before its IPO. New York State Comptroller Thomas DiNapoli, New York City Comptroller Mark Levine and California PERS CEO Marcie Frost say the proposed structure gives Musk outsized control, including voting dominance and veto power over his removal, plus litigation protections such as mandatory arbitration. They also warn Musk’s cross-company leadership could create conflicts. The IPO is projected to be the biggest ever, targeting $75 billion raised at a $1.75 trillion valuation.

Summarised by Beize from a story on The Economic Times on 14 May 2026
Elon Musk faces China scrutiny after Trump Xi summit as Tesla rivalry and Starlink security fears collide

Elon Musk faces China scrutiny after Trump Xi summit as Tesla rivalry and Starlink security fears collide

Elon Musk arrives in China for a summit tied to US President Donald Trump and meets Xi Jinping amid a complicated mix of praise and backlash. Tesla’s tech leadership still inspires competitors as sales near 626,000 units, with China contributing about a fifth of revenue. Yet Musk also faces regulator and public criticism over customer complaints, while SpaceX’s Starlink alarms Beijing’s military planners. Musk must navigate intensifying domestic EV competition and China’s shifting security priorities.

Summarised by Beize from a story on The Economic Times on 14 May 2026
Musk closes arguments to hit OpenAI leaders with $150 billion fight over its mission

Musk closes arguments to hit OpenAI leaders with $150 billion fight over its mission

Elon Musk’s lawsuit against OpenAI and CEO Sam Altman is entering its final stages in Oakland, California, as lawyers deliver closing arguments. Musk alleges OpenAI betrayed its safe-AI charitable mission by turning the nonprofit into a profit engine to enrich insiders, claiming he was steered into a $38 million gift before the nonprofit was linked to a for-profit structure and major investor funding. OpenAI argues the model strengthens the mission, while Musk seeks about $150 billion and leadership removals.

Summarised by Beize from a story on The Economic Times on 14 May 2026
US SEC and Elon Musk push 1.5 million settlement over Twitter stake disclosure delay

US SEC and Elon Musk push 1.5 million settlement over Twitter stake disclosure delay

Attorneys for the US SEC and Elon Musk will argue for a $1.5 million settlement before a DC judge over Musk’s delayed disclosure of a 5% stake in Twitter. The SEC lawsuit alleges that by not reporting it promptly in April 2022, Musk avoided costs worth about $150 million. The hearing focuses on whether the settlement is acceptable and how it ends the dispute.

Summarised by Beize from a story on The Economic Times on 13 May 2026

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Sam Altman denies Elon Musk betrayal claims as fight over OpenAI control heats up

Sam Altman denies Elon Musk betrayal claims as fight over OpenAI control heats up

OpenAI CEO Sam Altman testified that Elon Musk’s accusations of betrayal are false, saying Musk instead sought control and financial gain from the ChatGPT maker. Musk’s lawsuit seeks major damages and Altman and Greg Brockman’s removal. The high-stakes trial may influence OpenAI’s leadership and its road to a possible trillion-dollar valuation.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Musk considered giving OpenAI to his kids as Altman recounts a tense conversation

Musk considered giving OpenAI to his kids as Altman recounts a tense conversation

OpenAI CEO Sam Altman testified about a “particularly hair-raising” conversation with Elon Musk, recalling that Musk mulled handing OpenAI to his children. The remarks add new context to a long-running dispute over the company’s control and direction, underscoring how personal and governance questions have intertwined with the race to build advanced AI systems.

Summarised by Beize from a story on TechCrunch on 12 May 2026
Musk and Tim Cook to join Trump in China alongside Boeing and Wall Street heavyweights

Musk and Tim Cook to join Trump in China alongside Boeing and Wall Street heavyweights

Elon Musk, Tim Cook, Boeing CEO Kelly Ortberg and GE Aerospace’s Larry Culp are set to join US President Donald Trump on his China trip, Reuters reports. The delegation also includes Meta’s Dina Powell McCormick, BlackRock’s Larry Fink, Blackstone’s Stephen Schwarzman, Micron’s Sanjay Mehrotra, and leaders from Mastercard, Qualcomm and Visa—highlighting high-stakes business diplomacy.

Summarised by Beize from a story on Republic on 12 May 2026
Nadella Fires Back at OpenAI Board as Microsoft Defends $13 Billion Deal in Musk Case

Nadella Fires Back at OpenAI Board as Microsoft Defends $13 Billion Deal in Musk Case

Satya Nadella testified in Elon Musk’s lawsuit in California, defending Microsoft’s $13 billion OpenAI partnership. Nadella said Musk never personally contacted him to oppose Microsoft’s investment. He also criticized OpenAI’s board over Sam Altman’s ouster, arguing the relationship was driven as a commercial deal, not charity—turning the focus back on Microsoft’s role.

Summarised by Beize from a story on Republic on 12 May 2026

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Grok stumbles in AI race as downloads plunge and paid users lag behind ChatGPT and Claude

Grok stumbles in AI race as downloads plunge and paid users lag behind ChatGPT and Claude

Elon Musk’s Grok chatbot is losing ground as rivals like ChatGPT, Claude, and Google’s Gemini accelerate. New figures show Grok downloads down nearly 60% since January and paid adoption hovering at just 0.174%. The “anti-woke” bot has also faced criticism after deepfake controversies and struggles to win enterprise customers.

Summarised by Beize from a story on Republic on 12 May 2026
Altman vs Musk trial puts OpenAI CEO on the line and could reshape AI trust

Altman vs Musk trial puts OpenAI CEO on the line and could reshape AI trust

A high-stakes courtroom battle pits Elon Musk against OpenAI CEO Sam Altman, turning leadership scrutiny into a reputational risk. Testimony reportedly raises allegations of dishonesty and pushback against oversight, with potential consequences for Altman’s future. The trial also threatens to cloud the AI industry’s public image, especially as major IPO plans loom.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Sutskever claims he spent a year collecting evidence against Altman dishonesty in OpenAI battle

Sutskever claims he spent a year collecting evidence against Altman dishonesty in OpenAI battle

Former OpenAI executive Ilya Sutskever testified that he spent a year gathering evidence tied to claims of Sam Altman’s dishonesty. His account feeds into a high-stakes legal fight involving Elon Musk, who is suing OpenAI and Microsoft over allegations the company abandoned its nonprofit mission. The trial’s outcome could directly affect OpenAI’s future and control structure.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Elon Musk and Tim Cook join Trump for China trip with 15 top CEOs in tow

Elon Musk and Tim Cook join Trump for China trip with 15 top CEOs in tow

Elon Musk and Apple’s Tim Cook are set to accompany US President Donald Trump on a China visit this week, according to a White House official. The plan reportedly includes Musk and Cook alongside 15 other CEOs, as part of a broader US business delegation. The move underlines how technology and corporate interests may intersect with high-level diplomacy.

Summarised by Beize from a story on The Economic Times on 11 May 2026

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Elon Musk backs Warren Buffett plan to fix US debt fast as it nears 40 trillion

Elon Musk backs Warren Buffett plan to fix US debt fast as it nears 40 trillion

Elon Musk has endorsed Warren Buffett’s proposal aimed at tackling America’s rising national debt, now projected to approach $40 trillion. Buffett’s plan centers on swift action to curb deficits through targeted legislation, triggering renewed debate over fiscal discipline and who should be held accountable politically. The endorsement has amplified calls for faster, concrete debt control measures.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Satya Nadella to testify in Musk lawsuit over OpenAI funding and profit shift emails

Satya Nadella to testify in Musk lawsuit over OpenAI funding and profit shift emails

Microsoft CEO Satya Nadella is set to testify Monday in Elon Musk’s lawsuit against OpenAI. The case hinges on newly disclosed Microsoft emails from January 2018, which Musk argues track how funding coincided with OpenAI’s move from a philanthropic model to a for-profit AI power. Nadella is expected to argue Microsoft only supported the shift once profitability became plausible.

Summarised by Beize from a story on The Economic Times on 11 May 2026
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