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☆ Trump has been tough on EVs. Now Elon Musk is his best friend and nobody knows how it'll play out.
▼ + stars: | 2024-11-25 | by ( Nora Naughton | ) www.businessinsider.com time to read: +4 min

AdvertisementTrump has been hard on EVs, but a new friendship with Elon Musk could change things. So far, Musk supports Trump's plans to dismantle EV tax credits. Automakers had hoped that Musk would support EV regulations and tax credits, but it appears the CEO is siding with Trump for now. An industry group representing many automakers (but not Tesla) pleaded with Trump to preserve EV tax credits but reconsider some of the more stringent emissions regulations. This was an about-face from Musk's stance a few months earlier when he advocated for trade barriers and warned that Chinese EV companies would "demolish" competition without guardrails.

Persons: Elon, Donald Trump, Elon Musk, Trump, he's, Trump's, Musk, Tesla Organizations: Trump, Biden, Government, Trump's, EV, Tesla, Twitter, US, Alliance, Automotive Innovation, Biden Administration Locations: Lago, China, Europe

☆ Elon Musk said the F-35's makers are 'idiots' for still building manned jets as drone tech rises
▼ + stars: | 2024-11-25 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

AdvertisementElon Musk criticized the F-35 program on Sunday. The GAO expects the F-35 program to cost about $2 trillion over its entire lifespan. The billionaire reposted a video montage of coordinated drone swarms on X, writing: "Meanwhile, some idiots are still building manned fighter jets like the F-35." Meanwhile, some idiots are still building manned fighter jets like the F-35 🗑️ 🫠pic.twitter.com/4JX27qcxz1 — Elon Musk (@elonmusk) November 24, 2024It's unclear if Musk intends to use his new position to impact any plans or costs for the F-35, the Pentagon's most expensive fighter program to date. AdvertisementMusk has said before that the US should consider remote-piloted alternatives to manned jets, both to keep up with the rise in drone warfare but also to help Air Force procurement stay competitive.

Persons: Elon Musk, Musk's, Trump, Donald Trump, emoji, Musk Organizations: GAO

☆ Travis Kalanick, Marc Andreessen, and other Silicon Valley leaders are reportedly getting involved with Elon Musk's DOGE
▼ + stars: | 2024-11-25 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

AdvertisementElon Musk and Vivek Ramaswamy are making plans for The Department of Government Efficiency. Several notable Silicon Valley figures are involved in plans for the department, per the Journal. Musk has said he wants to cut $2 trillion from the federal budget to make it more efficient. Elon Musk and Vivek Ramaswamy are starting to shape the Department of Government Efficiency, or DOGE, and they appear to be turning to Silicon Valley leaders for support. DOGE, headed by Musk and Ramaswamy, is set to be an advisory group outside the government.

Persons: Elon Musk, Vivek Ramaswamy, Musk, Steve Davis, Antonio Gracias, Joe Lonsdale, Marc Andreessen, Bill Ackman, Travis Kalanick —, Shiba, Vivek Organizations: The Department, Government, of Government, Boring Company, Street Journal, Twitter, Elon, Ramaswamy, Business Locations: Silicon

☆ A hybrid-car comeback is in the making — and it could be great news for your wallet
▼ + stars: | 2024-11-25 | by ( Nora Naughton | ) www.businessinsider.com time to read: +5 min

As EV sales slowed this year, major automakers had to reckon with their lofty goals and adjust for shifting customer bases. Toyota, which was once criticized for its slow adoption of EV technology, is now enjoying big increases in hybrid sales. That is elevating the brand's cache among green-car shoppers in general, with Toyota often at the top of brand considerations for EV shoppers today. The company has said that Ford's hybrid cars are converting more car buyers than any other segment. AdvertisementFord also announced plans in August to replace two electric three-row SUVs with hybrid models.

Persons: they're, Ford, Kelley, Donald Trump, Trump, Biden, Elon Musk, Trump's Organizations: EV, Automotive, Companies, Tesla, Toyota, Ford, JD Power, GM, North, P Global Mobility Locations: North American

☆ Elon Musk has a 'serious conflict of interest' due to xAI and his relationship with Trump, LinkedIn cofounder says
▼ + stars: | 2024-11-24 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

AdvertisementLinkedIn cofounder Reid Hoffman hopes a second Trump term can usher in an era of AI innovation. Hoffman warned that Elon Musk shouldn't use his relationship with Donald Trump to boost xAI. LinkedIn cofounder Reid Hoffman said Elon Musk has a "serious conflict of interest" when it comes to guiding a second Trump administration on AI policies in the US. Hours after the FT published the op-ed, Musk responded to an X post unrelated to Hoffman's column, criticizing people who post on LinkedIn. AdvertisementHoffman, who is also the cofounder of Inflection AI, shared his hopes and concerns for Trump's second term in the FT op-ed.

Persons: Reid Hoffman, Hoffman, Elon, Donald Trump, Elon Musk, Musk, Trump, Kamala Harris Organizations: Trump, Financial Times, LinkedIn, Biden Administration, Trump White, PayPal, Confinity, Republican Party, of Government Locations: America

☆ Chinese EV makers are not doing quite as well as you might think
▼ + stars: | 2024-11-24 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

Nio reported a widening net loss in its latest earnings, as the CEO of Xpeng warns many EV firms face a fight to survive. Xpeng delivered 24,000 vehicles last month, and Xiaomi sold over 100,000 of its SU7 EV this year alone. AdvertisementHowever, the booming sales come as many Chinese EV makers continue to report heavy losses, as they grapple with a brutal price war and intense pressure to quickly launch new affordable models amid a crowded field of battery-electric vehicles. The company reported a net loss of 5.06 billion yuan ($700 million), up 11% from the third quarter of 2023. Both companies narrowed their net losses year-over-year, but they remained sizable at 1.81 billion yuan ($250 million) for Xpeng and 1.14 billion yuan ($157 million) for Zeekr, respectively.

Persons: Nio, Xpeng, Tesla, they're, Xiaomi, William Li, Zeekr, Xpeng's, Jim Farley, Xiaopeng, BYD, outstripping Elon, JADE GAO, David Bailey Organizations: EV, Elon, Publishing, Getty, Zeekr, Ford, Singaporean, The Straits Times, outstripping Elon Musk's, University of Birmingham Locations: China

☆ DOGE coming: Beware these stocks that get the most revenue from the government
▼ + stars: | 2024-11-24 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Investors should be wary of the impacts several companies may bear from the cost-cutting goals of President-elect Donald Trump's Department of Government Efficiency, or DOGE, according to TD Cowen. "The announcement of DOGE has led to concerns about future revenue and profitability of USG [United States government] contractors," analyst Roman Schweizer said in a Friday note to clients. "It is too early to estimate potential negative impacts to USG contractors given the limited results of prior USG reforms, but cuts are possible and there will be uncertainty for several months." In an effort to find companies that have the most at stake under potential DOGE actions, TD Cowen identified the publicly traded government contractors with the highest amount of dollars obligated in fiscal year 2023, both overall and by individual federal department. Pharmaceutical giants such as Merck , Humana and Pfizer could also be impacted by potential DOGE cuts, as the firm found they receive large sums of money primarily through contracts with the Department of Health & Human Services.

Persons: Donald Trump's, TD Cowen, DOGE, Roman Schweizer, Elon Musk's, Vivek Ramaswamy's, Musk, Tesla, Ramaswamy, Lockheed Martin, Schweizer, headcount Organizations: Donald Trump's Department, Government, USG, United, Street, Trump, Congress, U.S, Northrop Grumman, Lockheed, Dynamics, Boeing, NASA, Department of Defense, Department of State . Defense, Leidos Holdings, DoD, Pharmaceutical, Merck, Humana, Pfizer, Department of Health & Human Services Locations: United States

☆ Elon Musk teases potential MSNBC offer: 'How much does it cost?'
▼ + stars: | 2024-11-23 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +2 min

AdvertisementElon Musk teased the idea of buying the TV network MSNBC. Elon Musk has teased the idea of buying the liberal TV network MSNBC. Musk floated the idea on social media, responding to a post on X shared by Donald Trump Jr. that said Comcast was putting the network up for sale. AdvertisementWhile there's no formal indication that Musk intends to go ahead with an offer for MSNBC, the idea has already sparked some concerns. President-elect Donald Trump.

Persons: Elon Musk, Musk, Donald Trump Jr, Trump, Elon, Thomas Whalen, Whalen, Vladimir Putin, Donald Trump, Chip Somodevilla, Donald J Organizations: MSNBC, Comcast, TV, Twitter, Boston University, Telegraph, Getty, Radical Left Democrats, Trump, Business Locations: Russia

☆ A Florida man pretending to be Elon Musk scammed an elderly woman out of over $250,000
▼ + stars: | 2024-11-23 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +2 min

AdvertisementA Florida man scammed a woman out of $250,000 by posing as Elon Musk, police say. The scam involved a fake Facebook account promising high returns on investments. A Florida man pretending to be billionaire Elon Musk on Facebook scammed an older woman out of over $250,000, police say. The 74-year-old victim befriended someone named "Elon Musk" on Facebook in 2023, police said. AdvertisementThe fake Musk account promised the woman a $55 million investment return.

Persons: Elon Musk, Jeffrey Moynihan, Jr, Dave Chappelle's, Moynihan, Elon, Musk Organizations: Facebook, Bradenton Police Department, Bradenton, SpaceX Locations: Florida, Texas, Hong Kong, Korea

☆ Trump's pick for Treasury secretary shows there's a limit to Elon Musk's influence
▼ + stars: | 2024-11-23 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Musk recently said his choice for the influential Treasury secretary role would be Howard Lutnick. As President-elect Donald Trump assembles the key players to drive his new administration's agenda, Elon Musk is rarely far away. Trump tapped hedge fund manager Scott Bessent, the founder and chief executive of Key Square Group, to be his next Treasury secretary on Friday. Bessent, a Wall Street veteran and a top economic advisor to Trump, emerged as a favorite of the president-elect while on the campaign trail this year. The Wall Street Journal reported that Trump sought advice from Wall Street leaders for the Treasury spot, and his advisors told him that analysts would view Bessent as a stabilizing figure.

Persons: Elon, Donald Trump's, Musk, Howard Lutnick, Trump, Scott Bessent, Donald Trump, Elon Musk, Vivek Ramaswamy, Bessent, Cantor Fitzgerald, — Organizations: Mar, UFC, of Government Efficiency, Trump, Key Square, Wall Street, Senate, Street Journal, Treasury, Business Locations: Lago, Florida, New York, Trump's, United States

☆ Elon Musk's Neuralink is hiring technicians to ramp up manufacturing
▼ + stars: | 2024-11-22 | by ( Grace Kay | Hilary Brueck | ) www.businessinsider.com time to read: +5 min

AdvertisementNeuralink, Elon Musk's neurotechnology company, is hiring for multiple manufacturing roles. Neuralink, Elon Musk's brain-computer interface company, is looking to hire manufacturing technicians and microfabrication specialists. Two manufacturing technicians work at the company, based on public LinkedIn profiles, with those employees joining in 2021 and February 2024. A Neuralink recruiter said the company is hiring manufacturing technicians to "boost production." Neuralink also appears to be hiring for manufacturing roles for its surgical robot, a job listing shows.

Persons: Elon Musk's, Elon, Neuralink, Tinglong Dai, Dai, John Donoghue, you'd, wouldn't, Donoghue Organizations: LinkedIn, Johns Hopkins University, Brown University, FDA, Reuters, SpaceX, Austin American, Statesman Locations: California, Texas, Austin, Nevada

☆ How Elon Musk’s plan to slash government agencies and regulation may benefit his empire
▼ + stars: | 2024-11-22 | by ( Magdalena Petrova | ) www.cnbc.com time to read: +2 min

Some of his ventures already benefit tremendously from federal contracts. SpaceX has received more than $19 billion from contracts with the federal government, according to research from FedScout. Musk, who has frequently blamed the government for stifling innovation, could also push for less regulation of his businesses. Musk and Ramaswamy also championed the large-scale auditing of agencies, calling out the Pentagon for failing its seventh consecutive audit. To learn how else Elon Musk and his companies may benefit from having the ear of the president-elect watch the video.

Persons: Elon, Geoff Orazem, Vivek Ramaswamy, Trump, Ramaswamy, Elon Musk, Lora Kolodny Organizations: Company, SpaceX, Trump, Republican, Department of Government, Street, Congress, Pentagon, CNBC Locations: FedScout

☆ Why X's new terms of service are driving some users to leave Elon Musk's platform
▼ + stars: | 2024-11-22 | by ( Cj Haddad | ) www.cnbc.com time to read: +2 min

X's new terms of service, which took effect Nov. 15, are driving some users off Elon Musk's microblogging platform. The terms are prompting some longtime users of the service, both celebrities and everyday people, to post that they are taking their content to other platforms. Although Musk said in May that X has 600 million monthly users, market intelligence firm Sensor Tower estimates X had 318 million monthly users as of October. That same month, Meta said Threads had nearly 275 million monthly users. Here are some of the noteworthy changes in X's new service terms and how they compare with those of rivals Bluesky and Threads.

Persons: Gabrielle Union, Donald Trump, Musk, Meta, Bluesky Organizations: Elon Musk's, Twitter, Bluesky's, CNBC Locations: Bluesky, Bluesky's U.S

☆ Jeff Bezos says Elon Musk's claims are '100% not true' after the Tesla CEO reignites their feud
▼ + stars: | 2024-11-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

AdvertisementElon Musk reignited his long-running feud with Jeff Bezos in an X post on Thursday. Musk said Bezos told people they should sell Tesla and SpaceX stock because Donald Trump would lose. Bezos said Musk's claim was "100% not true," to which Musk replied, "I stand corrected." XBusiness Insider was unable to confirm the veracity of Musk's post. AdvertisementNovember 22, 2024: This story has been updated to include Bezos' response to Musk's Thursday X post, and Musk's response to Bezos.

Persons: Elon Musk, Jeff Bezos, Musk, Bezos, Donald Trump, Trump, wasn't, he'd, Musk's, Tesla, SpaceX isn't, Thomas Roulet, Elon, Bill Gates, Gates Organizations: SpaceX, X, Mar, Department of Government, Amazon, Trump, Tech, Bloomberg, University of Cambridge, Twitter, Microsoft Locations: Trump's Florida, China

☆ CNBC Daily Open: Expectations can be an irrational thing. Just look at Nvidia
▼ + stars: | 2024-11-22 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Markets digest Nvidia earningsU.S. markets rose on Thursday after digesting Nvidia's earnings release. "If someone bought or if the Bluesky company went down, everything is open source." [PRO] Focus on Nvidia's BlackwellDespite Nvidia's revenue growth rising at a slower pace each subsequent quarter, analysts are still optimistic on the stock.

Persons: Donald Trump, Michael Novogratz, Trump's, Trump, Bluesky, Jay Graber, Nvidia's Blackwell, Blackwell, Colette Kress Organizations: CNBC, U.S . Department of Justice, Google, Chrome, JD Sports, Galaxy Digital, U.S . Federal Reserve, Elon, Nvidia Locations: British

☆ Planned Parenthood says it's seen a 1,200% spike in vasectomy appointments as Musk's DOGE targets it for cuts
▼ + stars: | 2024-11-22 | by ( Katie Balevic | ) www.businessinsider.com time to read: +3 min

They named Planned Parenthood as something that could be targeted for cuts. Planned Parenthood is preparing to face off with Elon Musk's Department of Government Efficiency after it identified the reproductive health provider as fat to be trimmed. We fended off a number of these attacks during Trump's first term — and Planned Parenthood health centers are still there serving millions of patients across the nation." AdvertisementIn a press release, the organization said its health centers saw a surge in appointments following Trump's reelection, including a 1,200% increase in vasectomy appointments and a 760% in IUD appointments. Advertisement"Like any other healthcare provider or hospital, Planned Parenthood affiliates are reimbursed for services provided to patients at health centers.

Persons: Elon Musk, Vivek Ramaswamy, Ramaswamy, Alexis McGill Johnson, Donald Trump, McGill Johnson, We've, Trump's, Douglas Holtz, it's, Holtz, Eakin Organizations: of Government Efficiency, Elon, Elon Musk's Department, GOP, Planned Parenthood Federation of America, Congressional, Office, Management

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow SpaceX, Tesla, xAI and X may benefit from Elon Musk's position as head of government efficiencyAs head of the Department of Government Efficiency, Elon Musk has promised to slash $2 trillion from the federal budget. One way he's suggested doing this is by consolidating some of the country's over 400 federal agencies, many of which regulate his companies.

Persons: Elon Musk, he's Organizations: Tesla, Elon Musk's, Department of Government Efficiency

☆ Grimes says she was 'going bankrupt' during custody battle with Elon Musk
▼ + stars: | 2024-11-21 | by ( Lauren Edmonds | Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

AdvertisementGrimes shared new details about her custody dispute with her former partner, Elon Musk. Grimes said she was "going bankrupt" during the dispute and had a "fraction" of Musk's resources. Grimes says she was "going bankrupt" during her custody dispute with Tesla CEO and billionaire Elon Musk, with whom she shares three children. Grimes, whose real name is Claire Elise Boucher, became embroiled in a custody dispute with Musk in 2023 over X Æ A-Xii , Exa Dark Sideræl, and Techno Mechanicus. Related VideoGrimes and Musk have largely been quiet about the custody dispute, however Grimes on Wednesday shared some details about how going to court against her billionaire ex impacted her.

Persons: Grimes, Elon Musk, Claire Elise Boucher, Musk, hasn't, August Grimes, Donald Trump, group's Organizations: Tesla, Business, Department of Government Locations: California, Texas, , Texas, Austin , Texas

☆ Marjorie Taylor Greene picked to lead a new DOGE House panel to slash government funding
▼ + stars: | 2024-11-21 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +2 min

AdvertisementRep. Marjorie Taylor Greene is set to chair a new subcommittee that works with Elon Musk's DOGE. Rep. Marjorie Taylor Greene is set to get a plum new role next year: chairing a new House panel that will work with Elon Musk and Vivek Ramaswamy's Department of Government Efficiency. AdvertisementThe DOGE subcommittee will be tasked with investigating "wasteful" spending, examining ways to reorganize federal agencies and supporting the work of the DOGE commission. Related stories🚨🚨🚨BIG NEWS🚨🚨🚨Comer to create @GOPoversight DOGE subcommittee chaired by Marjorie Taylor Greene to work with @elonmusk, @VivekGRamaswamy https://t.co/b85arhjM5d — Rep. Marjorie Taylor Greene🇺🇸 (@RepMTG) November 21, 2024"Wasteful government spending must end, and taxpayers deserve to see their money used effectively and efficiently," Comer told Fox News. "I look forward to working with Rep. Marjorie Taylor Greene, Elon Musk, and Vivek Ramaswamy to deliver on these goals to make America great again."

Persons: Marjorie Taylor Greene, Elon, Greene, Elon Musk, James Comer, Ramaswamy, Taylor, gove Organizations: Elon Musk's DOGE, Elon, Vivek Ramaswamy's Department, Government, Georgia Republican, Fox News, Rep Locations: sion

☆ Elon Musk says he's had little to do with Trump's cabinet picks — he just likes 'spending time' with the man
▼ + stars: | 2024-11-21 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

But the Tesla and SpaceX CEO said he's had little input on Trump's Cabinet picks. Elon Musk says he's had little input on President-elect Donald Trump's cabinet picks. He was a major contributor to Trump's campaign, spending just under $119 million on his pro-Trump political action committee, America PAC. Musk, according to multiple media reports, has joined Trump's calls with Ukrainian President Volodymyr Zelenskyy and Google CEO Sundar Pichai. Lutnick, Musk wrote in an X post on November 16, "will actually enact change," compared to another candidate, hedge fund CEO Scott Bessent.

Persons: Elon Musk, Donald Trump, he's, Musk, Donald Trump's, Haven't, Robert F, Kennedy Jr, cott, ott Organizations: SpaceX, Cabinet, New York Post, Trump's, UFC, Trump, Madison Locations: Lago, Palm Beach , Florida, usk

☆ Elon Musk just reignited his feud with Jeff Bezos
▼ + stars: | 2024-11-21 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

AdvertisementElon Musk reignited his long-running feud with Jeff Bezos in a X post on Thursday. Musk said Bezos told people that Trump would lose and they should sell their Tesla and SpaceX stock. Elon Musk has taken aim at Jeff Bezos once more, reigniting the war of words between the world's two richest people. In a X post on Thursday, Musk said that Bezos had told people to dump their shares in his companies because Donald Trump was bound to lose the presidential election. This message about Bezos is a way to give himself an excuse to legitimately do so, by saying that 'Bezos started it.'"

Persons: Elon Musk, Jeff Bezos, Musk, Bezos, Trump, Donald Trump, ince, ould, ake Organizations: SpaceX Locations: lon, usk, ehicles,

☆ Elon Musk and Grimes have ended their custody dispute in Texas
▼ + stars: | 2024-11-21 | by ( Grace Kay | ) www.businessinsider.com time to read: +2 min

AdvertisementThe Travis County clerk's office told BI Elon Musk and Grimes have ended their custody dispute. Musk sued Grimes in the Texas court last year, and Grimes countersued in San Francisco. Elon Musk and Grimes' legal dispute in Texas over their three children has been resolved. Related VideoRepresentatives for Musk and Grimes did not respond to a request for comment. Musk first filed the custody lawsuit against Grimes in September 2023.

Persons: Grimes, Musk, Grimes countersued, Elon Musk, Claire Boucher Organizations: Elon, Musk, San Francisco Superior Locations: Travis, Texas, San Francisco, Travis County

☆ Hyundai's incoming CEO on Elon Musk's proximity to Trump: It's good for electric vehicles
▼ + stars: | 2024-11-21 | by ( Phil Lebeau | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHyundai's incoming CEO on Elon Musk's proximity to Trump: It's good for electric vehiclesJosé Muñoz. incoming CEO of Hyundai, joins Phil LeBeau on CNBC's 'The Exchange' to discuss the company's EV future, what the incoming administration's economic policy could mean for business, and more.

Persons: Phil LeBeau Organizations: Elon, Hyundai, EV Locations: Trump

☆ Elon Musk's DOGE is looking to Argentina for inspiration to slash public spending
▼ + stars: | 2024-11-21 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +5 min

Both men admire Javier Milei, the Argentine leader elected on a pledge to slash the state. About a year ago, standing in front of a whiteboard with a gleam in his eye, Javier Milei started pulling apart Argentina's government. Javier Milei pulls apart a chart of Argentina's state in a video published on September 9, 2023. AdvertisementHarsh medicineHis measures helped tame a crisis: Argentina's inflation was 25.5% when Milei took office, and as of October, it was 2.7%. Argentinians have taken to the streets to protest against Javier Milei's economic policies since his election.

Persons: Elon Musk, Vivek Ramaswamy, Javier Milei, Milei, Lex Fridman, — Milei, Maria Victoria Murillo, Argentinians, Javier, Luciano Gonzalez, Donald Trump's, Trump, Ramaswamy, Musk Organizations: Argentine, Ministry, of Environment, Sustainable, Government, Social Security, US, Institute of Latin American Studies, Columbia University, Anadolu, Getty Images Kimberley, Economics, America, Republicans Locations: Milei, Argentine, Argentina, Mar, Buenos Aires

☆ This chart shows how crazy-fast the value of Elon Musk's xAI has grown in 16 months
▼ + stars: | 2024-11-21 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

AdvertisementElon Musk's AI startup xAI has been valued at a reported $50 billion 16 months after its founding. One of his other companies, his artificial intelligence startup xAI, has catapulted from launch just 16 months ago into an AI company now worth a reported $50 billion. Related Video How Elon Musk makes and spends his billionsThe chart below helps put that meteoric rise into perspective. How does that $50 billion valuation compare to the competition? It took OpenAI, last valued at $157 billion in October, around 9 years to pass the $50 billion milestone, according to PitchBook.

Persons: OpenAI, Elon Musk, — Organizations: Elon, SpaceX Locations: xAI

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