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Home | Updates | OpenAI’s rise signals a shift in frontier tech investment
A planned SpaceX share sale could push the company’s valuation to $800 billion, giving Elon Musk the chance to retake the lead from OpenAI.
OpenAI overtook SpaceX as the world’s most valuable private company in October after a secondary share sale valued the AI firm at $500 billion. The deal put Sam Altman’s company about $100 billion ahead of Elon Musk’s space venture.
That lead may prove short-lived, as SpaceX is now planning its own secondary share sale that could value the company at around $800 billion. An internal letter seen by multiple outlets suggests Musk would reclaim the top spot within months.
The clash is the latest chapter in a rivalry that dates back to OpenAI’s founding in 2015, before Musk left the organisation in 2018 and later launched the startup xAI. Since then, lawsuits and public criticism have marked a sharp breakdown in relations.
Musk also confirmed on X that SpaceX is exploring a major initial public offering, while OpenAI’s recent restructuring allows it to pursue an IPO in the future. The valuation battle reflects soaring investor appetite for frontier technologies, as AI, space, robotics and defence startups attract unprecedented private funding.
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