Key facts
- SpaceX's market capitalization reached $2.1 trillion, exceeding Tesla's $1.52 trillion.
- SpaceX is now the sixth most valuable U.S.-listed company.
- SpaceX's S-1 filing suggests potential future equity issuance for significant transactions.
- Waymo acquired a 5,500-acre proving ground in Arizona for $220 million.
- Several mobility and AI startups announced funding rounds and IPO plans.
SpaceX has surpassed Tesla in market capitalization, reaching $2.1 trillion compared to Tesla's $1.52 trillion, positioning it as the sixth most valuable U.S.-listed company. This valuation milestone comes amid intensified speculation about a potential merger between the two Elon Musk-led entities, fueled by new language in SpaceX's S-1 filing regarding future equity issuance and comments from SpaceX President and COO Gwynne Shotwell.
In other mobility news, Waymo has acquired a 5,500-acre proving ground in Arizona for $220 million from a shell company linked to Apple, signaling an effort to scale its autonomous driving operations. General Motors is reportedly exploring the use of lithium-iron-phosphate (LFP) cells for its Chevrolet Bolt and developing energy storage systems for AI data centers and the grid. Meanwhile, EV maker Lucid Motors is undergoing executive changes, with a top executive departing shortly after a promotion.
Several startups in the mobility and AI sectors have secured funding. CameraMatics raised €49 million, Clear Robotics secured $1.75 million, Evotrex raised $30 million, and Volteum raised €2.5 million. Additionally, Indian quick-commerce startup Zepto plans a $1 billion IPO, and Zūm is reportedly considering an IPO. AI startup Decart has unveiled Oasis 3, an interactive world model for simulating driving environments, and Wing is expanding its drone grocery delivery service with Walmart into more U.S. cities.