SpaceX

OpenAI has revoked AI coding startup Cursor’s access to its language models, citing concerns over SpaceX’s adherence to terms of service. This escalates the feud between OpenAI and Elon Musk, whose SpaceX recently acquired Cursor. The decision stems from Musk’s legal dispute and public criticism of OpenAI’s leadership and its shift to a for-profit model. Cursor stated they are discussing a resolution with OpenAI.

SpaceX is building a $100 billion Starship launch facility in Louisiana, aiming for thousands of annual launches to support Starlink, orbital data centers, and Mars colonization. The site, selected after a seven-year process, will create 10,000 jobs and include a historic coastal restoration project. This move, part of Elon Musk’s broader Southern US expansion, aims to learn from past environmental challenges faced at their Texas facility.

Nvidia has revealed a substantial stake in SpaceX, valued at approximately $21 billion, making it the company’s second-largest holding. This investment stems from Nvidia’s initial $10 billion investment in Elon Musk’s AI venture, xAI, which was later acquired by SpaceX. SpaceX intends to exclusively use Nvidia chips for its AI data centers, highlighting a deep strategic partnership and the convergence of AI and aerospace technologies.

Norway’s $2.3 trillion sovereign wealth fund achieved a record $182 billion profit in the first half, driven by strong Asian tech stocks and equity market rallies. NBIM, its manager, revealed a new $1.2 billion stake in SpaceX, adding to its significant holdings in tech giants like Nvidia and Apple. The fund, a global investor in over 7,000 companies, strategically diversifies across equities, fixed income, and real estate, aiming for long-term value creation.

SpaceX shares surged 4%, surpassing their IPO price following strong Q2 2026 revenue exceeding analyst expectations. The company anticipates $100 billion in annualized recurring revenue by year-end, driven by its “neocloud” business and AI acquisition. Despite a recent stock unlock, investor confidence remains high, with analysts maintaining bullish outlooks and revising forecasts upward, though acknowledging long-term reliance on milestones like Starship.

Early SpaceX investors can now liquidate holdings as initial lockup restrictions expire, potentially increasing selling pressure on shares already down over 50% from their peak. Over 911 million shares become available, with further tranches unlocking later. Despite recent volatility and investor concerns over capital expenditures, some early investors, like Atlanta Falcons player Jessie Bates III, plan to sell to secure gains. Elon Musk’s shares remain locked until 2027.

SpaceX significantly increased its investment in Tesla Megapack battery energy storage systems in the first half of 2026, spending $329 million to power its “Colossus” data centers. This move supports SpaceX’s aggressive AI infrastructure expansion and aims to secure substantial power and cooling capabilities. The company plans to have 20 gigawatts of AI power and cooling online by the end of next year. This investment comes amidst community backlash over SpaceX’s use of natural gas turbines at its data centers.

Jim Cramer advises investors to view Elon Musk’s SpaceX through a generational lens, not a quarterly one. He likens it to long-term railroad bonds, emphasizing Musk’s transformative vision and the company’s future growth drivers like Starship, Starlink, and its compute infrastructure. Cramer believes SpaceX’s long-term value, though decades away, hinges on Musk’s leadership and ability to secure capital for ambitious projects.

Stock futures point higher, with major indexes poised to extend their record streak. SpaceX reported strong revenue but significant capital expenditures caused an 11% stock drop, despite a narrower than expected net loss. Disney’s shares rose on better-than-expected earnings, driven by parks, cruises, and streaming growth. Procter & Gamble acquired Thorne for $3.8 billion to bolster its health and wellness segment. Chipotle temporarily removed jalapeños due to salmonella concerns, impacting its stock. Palantir’s stock surged 29% following its earnings report, fueled by AI momentum.

The stock market saw record highs fueled by strong earnings and easing Strait of Hormuz tensions. Nvidia surged 4% after Elon Musk announced SpaceX would exclusively use its AI hardware. Honeywell Aerospace, recently spun off, is highlighted as potentially undervalued despite supply chain challenges. Other companies like Disney and Uber were also mentioned.