The federal lawsuit, filed Tuesday in Oxford, Mississippi, names xAI, its subsidiary MZX Tech, and SpaceX as defendants. Elon Musk is not named in the case. Three residents brought the complaint on behalf of a proposed class they estimate exceeds 10,000 members. Plaintiffs’ attorney Robert Wiygul framed the case in personal terms. “Our homes are supposed to be a sanctuary for us against the world. When they are invaded by noise 24 hours a day, it takes that fundamental peace of a good and decent life away from us.”

Residents sue xAI and SpaceX, alleging the effect of noise on daily life

Those residing in the area of interest say that the turbines have significantly interfered with their daily life due to their noise and vibration, which amounts to negligence and public nuisance. The noise and vibrations, according to Reuters, citing court filings, started in or about June 2025 and have continued to this day. The plaintiffs are suing for damages for their emotional distress, the diminution of the value of their property, and the disaggregation of profits.

xAI purchased a vacant power plant in Southaven and installed natural gas turbines to supply electricity to its data center operations across the Tennessee border in Memphis. The company has since committed more than $20 billion to expand data center infrastructure in Mississippi, a project backed by Governor Tate Reeves. The public and local media have said that xAI put up a sound barrier to mitigate its effect, but residents continued to complain about the noise

The class action comes after a separate April lawsuit filed by the NAACP, on behalf of the Southern Environmental Law Center, claiming that xAI is breaking federal Clean Air Act laws by operating the turbines without the proper environmental permits. Under Mississippi regulations, temporary or portable turbines can operate for up to one year without an air permit. The NAACP and its attorneys argue that the threshold has been exceeded.

The Justice Department signaled last month that it may intervene in the environmental case, saying it raises significant legal and policy questions involving the federal government’s role in AI infrastructure development. As Cryptopolitan earlier reported, xAI has already faced scrutiny over environmental and permitting concerns tied to its growing data center operations and power infrastructure. The new lawsuit increases the legal pressure on xAI as it continues to invest heavily in data centers and power infrastructure across Mississippi.

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As the product is synthetic, which means no real ownership, traders are only getting exposure to price swings. While markets await the IPO, the prices of the contract are based on investor sentiment derived from private investment rounds, trades among existing shareholders, and the information in SpaceX’s S-1 regulatory filing. After the IPO happens, Binance SPCXUSDT begins tracking the public share price directly. Trading opened at $206 and climbed to $224. It settled down around $208 at the time of writing.

Binance introduces users to a new IPO market

Elon Musk’s space venture has recently made its public offering intentions clear through updated SEC documents, as reported by Cryptopolitan. The company will be listed on Nasdaq with the ticker SPCX. Musk already has one company on the exchange, Tesla, which means he’ll be running two publicly traded operations, each approaching trillion-dollar territory, after the SpaceX IPO scheduled for June 8.

The public filing also shows Musk’s voting control reaches 85% through a combination of 849.5 million Class A shares and 5.57 billion Class B shares. No one else, person or organization, besides Musk owns more than 5%. The barrier for regular investors to get exposure to an IPO like SpaceX has fallen. Usually, they would need accredited investor credentials or ties to venture capital circles. Binance is not the first one to give that opportunity.

Hyperliquid, OKX, and Bitget are also offering their own SpaceX pre-IPO offerings. However, what Binance brings is scale. As the biggest crypto exchange globally, it offers liquidity and retail access that smaller platforms can’t duplicate. Anyone with a Binance account can now take a position well ahead of when IPO shares become available. Investors eyeing SpaceX’s eventual stock market debut may want to look at the numbers first, as early betting on the shares comes with serious pitfalls.

Trading in pre-IPO contracts carries dangers that regular investments don’t. Prices can swing far from what shares actually sell for when the company finally lists. Borrowed money makes losses hurt more. These contracts don’t come with shareholder perks like dividends or voting power. Jay Ritter, who runs the IPO program at the University of Florida, tracked roughly 9,300 companies that went public on major U.S. exchanges from 1980 through 2025. First-day trading typically pushed prices up 19% on average.

But the honeymoon doesn’t last. Looking at the ten biggest American IPOs, which include Alibaba, Meta, Uber, and Rivian, the pattern is clear. Three months after going public, these stocks had dropped by a median of 10%. After a full year, the median loss hit 31%. The bigger the launch, the harder the fall once the buzz dies down. Even the most recent hot IPO can be taken as such an example. Cerebras Systems dropped 4.0% during afternoon trading, hitting $291.51 after reaching a high of $338.

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According to reports, Elon Musk will earn the compensation if SpaceX reaches a $7.5 trillion valuation, puts a permanent human population on Mars, and builds space-based data centers with compute power so large it sounds like something only this company would put in paperwork. The plan was shown inside SpaceX’s private registration filing with the US Securities and Exchange Commission in recent weeks.

SpaceX board approves new pay package for Elon Musk

SpaceX is still privately held, but it is preparing for a possible IPO around June 28, which is coincidentally Elon’s birthday, at a possible value of about $1.75 trillion. That alone is expected to push the company into the same weight class as the biggest public names, while Tesla (TSLA) shareholders also watch the same CEO chase another huge award outside the electric vehicle business. The largest part gives Elon up to 200 million restricted shares.

Aside from hitting the valuation, SpaceX claims that the human settlement population on Mars should be around 1 million. The filing turns a Mars dream into a corporate pay target. No vague hype. No soft language. It puts a population number beside a valuation number and links both to Elon’s stock award. A second part of the package gives Elon as many as 60.4 million restricted shares from an award dated March 23.

That part depends on separate company value targets and SpaceX running data centers in outer space that can provide at least 100 terawatts of computing power. That power figure is massive. 100 terawatts equals 100,000 gigawatts, or about 100,000 nuclear reactors of one gigawatt each running at the same time. Both stock awards use Class B restricted shares. Each Class B share carries 10 votes, while each Class A share carries 1 vote. That gives the package a control angle, not just a money angle. The shares vest in parts as SpaceX grows in value.

Elon gets none of those shares if SpaceX fails to hit the board’s targets. The plan does not have a calendar deadline, except that he must keep working at the company. Since 2019, SpaceX has paid him a yearly salary of $54,080. SpaceX cannot place a clean dollar value on the package yet because its shares do not trade publicly. Elon already held 68.8 million Class B stock options as of December 31. Those earlier options have a strike price of about $42 and expire in 2031, so any gain above that price belongs to him if he exercises them before they lapse.

However, it is expected that the SpaceX award may create friction between SpaceX investors and Tesla shareholders. Elon runs both companies, and corporate governance experts have warned that investors may question how much attention each business gets when both have giant targets attached to him. SpaceX is also ending a separate fight in California. The development comes as the California Coastal Commission apologized to Elon’s rocket company and settled a lawsuit filed after SpaceX accused the agency of political bias against the company and its chief executive.

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The announcement, made Tuesday in a post on X, puts one of Silicon Valley’s most talked-about startups squarely inside Musk’s expanding orbit, just months before SpaceX is expected to go public in what could be the largest stock market debut in history. Cursor, owned by parent company Anysphere and co-founded in early 2022 by four MIT students, Michael Truell, Aman Sanger, Sualeh Asif, and Arvid Lunnemark, builds tools that use artificial intelligence to help software developers write code faster.

SpaceX secures option to acquire coding startup Cursor

The company released its first product in March 2023, and within months, it had spread rapidly through the developer community. By November 2023, it had cataloged 150,000 codebases. In June 2024, it raised $60 million in Series A funding led by Andreessen Horowitz. What followed was a funding streak rarely seen in enterprise software. In 2025, Cursor raised three additional rounds totalling $3.3 billion.

The company’s valuation opened 2025 at $2.5 billion and closed the year at $29.3 billion after a $2.3 billion Series D in November. Before that came a $900 million round in June 2025 when it was valued at $9.9 billion. The company is now in talks to raise another $2 billion at a valuation above $50 billion, with Andreessen Horowitz and Thrive Capital expected to co-lead, joined by Nvidia and Battery Ventures.

“If you subtract out the dollars invested, it’s the fastest-growing company we’ve ever seen,” said Martin Casado, Andreessen Horowitz general partner and Cursor board member. Revenue has grown at a similar pace. Annualized revenue hit $500 million in May 2025, doubled to $1 billion by October, and crossed $2 billion in February 2026. Cursor says its tools are now used by 67% of the Fortune 500, including Uber and Adobe, and generate 150 million lines of enterprise code every day.

SpaceX, for its part, has its own reasons to move fast. The company filed IPO paperwork with the SEC in early April and plans a roadshow in early June. It merged with xAI in February in a deal valued at $1.25 trillion and is now seeking a $1.75 trillion valuation, which would make it the biggest IPO ever. It ended 2025 with $24.7 billion in cash. Cursor CEO Michael Truell, 25, said the deal was “a meaningful step on our path to build the best place to code with AI.”

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According to the report, the listing could see the company’s valuation jump close to $1.75 trillion. The idea was shared with banks by SpaceX CFO Bret Johnsen, who has reportedly told Wall Street firms how the deal could be structured. The plan is still being worked on and can change at any time. The goal is clear: Elon Musk wants strong demand from everyday investors who already follow his companies.

Elon Musk says retail investors could get 30% of SpaceX after IPO

Demand from retail investors is expected to be strong, which includes family offices that have backed SpaceX for years and smaller investors who follow Elon closely. Many of them already tracked the company while it was private, and Elon expects them to hold their shares longer and avoid quick selling right after the IPO. Meanwhile, Elon Musk is apparently personally choosing the banks involved with SpaceX’s merger and giving each one a specific job.

Bank of America will handle retail investors inside the United States, Morgan Stanley will bring in smaller investors using its E*Trade platform, UBS will focus on wealthy investors outside the US, and Citi is handling global distribution across both retail and big institutions. Other banks are tied to regions, like Mizuho working in Japan, Barclays covering the United Kingdom, Deutsche Bank responsible for Germany, and the Royal Bank of Canada, of course, handling Canada.

Cryptopolitan had reported earlier that the retail share could go above 20%, and internal talks now point closer to 30%. Meanwhile, Elon Musk is still busy making changes inside X, having removed its chief marketing officer, Angela Zepeda, who had been in the role since September 2024. Her exit came after Musk announced a merger between xAI and SpaceX. In addition, the company has also cut more than 20 employees in recent weeks.

The job cuts affected those who were in nontechnical roles across marketing and other teams. These jobs were seen as overlapping with roles inside the combined structure. Staff who remain at X are now focused on revenue. Jon Shulkin is leading that effort. Shulkin is the chief revenue officer at xAI and also a partner at Valor Equity Partners. His role covers both the social platform and the AI business.

Revenue numbers show the current position. US ad revenue at X is expected to rise 1.5% to $1.27 billion. Global ad sales are projected to increase 2.2% to $2.19 billion. Back in 2021, before Elon took the company private, Twitter reported $4.51 billion in advertising revenue. These changes are happening while SpaceX moves closer to its public debut.

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The disclosure follows claims earlier this week that the Russian military had begun equipping long-range drones, such as the Molniya-2 model, with Starlink devices in order to circumvent local jamming systems. The issue was initially raised by Mykhailo Fedorov, Ukraine’s minister of defense, last Thursday. The minister expressed gratitude to SpaceX President Gwynne Shotwell and Musk for their prompt action.

SpaceX stops Russian forces from using Starlink without permission

Fedorov stated that the initial efforts are already yielding “noticeable results” and that his government is still collaborating with SpaceX on “the next important steps” to ensure that the service solely supports civilian and democratic interests. SpaceX is using advanced tracking technologies to prevent Russian access. The system depends on location restrictions and speed monitoring software.

The company has incorporated automatic shutoffs, which cut off any terminal moving faster than a predetermined speed, usually between 75 and 90 km/h. This stops the terminals of fast-moving assault drones from functioning. The technical limitations were created expressly to prevent Starlink from operating on high-speed platforms while maintaining steady communication for immobile ground users.

On the ground, troops and aid workers are still using their smartphones as usual. Additionally, SpaceX revised its global privacy policies in mid-January 2026. The company can now use the communication and location information from Starlink to build machine learning systems. These systems could eventually spot unusual usage on their own that might point to unauthorized military use as it happens.

Starlink’s finances have hit a major milestone while these political and military issues play out. Fresh numbers released today show that Starlink now brings in more than two-thirds of all SpaceX revenue. Last year, the satellite business pulled in roughly $10.4 billion. SpaceX as a whole made $15.9 billion. Because SpaceX is preparing for a significant public market debut in 2026, investors are closely monitoring the situation.

According to those who have seen the company’s financial results, SpaceX produced almost $8 billion in profit last year. The company might be valued at more than $1.5 trillion after going public, according to big banks. Additionally, there is speculation that before the stock listing, Musk may merge SpaceX with his artificial intelligence business, xAI.

Starlink has also added new users beyond the conflict zone in Ukraine. As of February 2026, the service works in 155 countries. That’s after adding 35 new locations in Africa and Southeast Asia. The company is also working to start operating in India. Experts say that could be one of the biggest launches in the history of worldwide communications.

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Amazon told the Federal Communications Commission on Friday that it needs an extension to deploy approximately 1,600 satellites by a July 2026 cutoff date. The company wants regulators to push that deadline back two years to July 2028. The request is made as Amazon prepares to introduce its newly renamed satellite internet service, Amazon Leo. The network is intended to provide web connections from space, and the corporation has allocated at least $10 billion for its construction.

Amazon blames rocket shortage and manufacturing problems

The complaint claims that Amazon’s progress has been hampered by uncontrollable challenges. The corporation alluded to a dearth of usable rockets in the foreseeable future, combined with challenges at manufacturing facilities, failures of new vehicles, and restricted space at launch sites. Amazon told regulators it can build satellites much faster than launch providers can send them into orbit.

The company originally planned to deploy 3,236 satellites in low Earth orbit. Federal rules require Amazon to get roughly half of them up by the original deadline. Amazon first announced its satellite constellation in 2019. The network is designed to provide fast internet with minimal delays to homes, businesses, and government agencies through square-shaped receiving devices.

To get its satellites into space, Amazon has reserved more than 100 launches. Recent purchases include 10 additional flights with SpaceX, the company run by Elon Musk, plus 12 more launches with Blue Origin, the space venture started by Amazon founder Jeff Bezos. While its launch partners have hit important milestones with their rockets over the past year, Amazon said development schedules for these newer vehicles have taken longer than expected, causing deployment setbacks.

Progress made as competition in the space intensifies

Since April, Amazon has sent more than 150 satellites into orbit. The company projects it will have about 700 satellites in space by July 30, which would make it the second-largest satellite network in operation. Another 32 satellites are scheduled to launch on February 12 aboard a rocket from Arianespace, a French launch company.

Amazon Leo will compete primarily with SpaceX’s Starlink, which currently operates more than 9,000 satellites and serves roughly 9 million customers. Another competitor, OneWeb, is run by France’s Eutelsat and has more than 600 satellites in orbit. Last November, Amazon opened a limited trial version of Leo for selected business customers before a full public launch.

In its filing, Amazon warned that rejecting the extension would work against the FCC’s own objectives of expanding spectrum use and encouraging quick deployment of new services. The company noted regulators have approved similar deadline extensions for other operators in the past. Amazon told the FCC it is actively deploying satellites and ready to offer Americans a new competitive service option.

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This is the second transfer SpaceX has made from its Bitcoin holdings within a week. Just a few days earlier, the company transferred $268 million worth of BTC into new wallets. The movement of coins doesn’t indicate an intention to sell but rather suggests that SpaceX is migrating its holdings from legacy wallets to new and more secure wallets.

SpaceX moves a new batch of BTC

SpaceX currently holds 6,970 bitcoins, worth around $772.15 million. SpaceX, along with Tesla, started accumulating Bitcoin around 2020 to 2021. A year later, Elon Musk began his advocacy for cryptocurrencies. That was during the previous crypto bull run, where the entrepreneur consistently endorsed Dogecoin and Bitcoin.

Around that time, Tesla announced it would begin accepting Bitcoin as payment from electric vehicle buyers. But after about three to four months, Tesla scrapped those plans due to Bitcoin mining’s environmental impact. Tesla purchased $1.5 billion worth of Bitcoin. But the EV maker later sold a major portion of its BTC holdings. It originally held around 48,000 BTC and sold 75% of its position in 2022. Tesla missed out on billions of dollars by selling BTC early.

As of today, Tesla holds 11,509 BTC, according to data from Arkham Intelligence. SpaceX, on the other hand, has not made any major Bitcoin purchases or sales since 2022. The company has not officially disclosed its Bitcoin acquisition strategy. Meanwhile, the US government has moved a bunch of coins seized from Alameda Research over 2 years ago. It moved $1 worth of Viberate token, $36 of OCEAN tokens, and $60 of HOT tokens.

Bitcoin is currently trading at $111,017, with a market capitalization of $2.2 trillion and a trading volume of $50 billion. Ethereum is standing at $3,940 and has been struggling to break over the $4,000 barrier over the last 24 hours. Bitcoin’s dominance is standing strong at 57.7%, while Ethereum has a 12.4% share of the crypto market. The overall market sentiment is labeled fear-based on the Crypto Fear and Greed Index.

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This record comes less than a year after Elon Musk passed the $400 billion mark in December, with the new figure now putting him on the pathway to becoming the first trillionaire. The development came after Tesla stock registered a 4% surge in a day, with the one-day surge seeing Elon Musk add $9.3 billion to his fortune.

Since Elon Musk stepped down from his role at DOGE, Tesla stock has nearly doubled in value, bringing the company’s total market cap to within 10% of its highest-ever valuation. As of now, Elon’s 12% stake in Tesla is valued at $191 billion, and it doesn’t even include the massive performance-based stock options package from 2018, which would be worth another $133 billion today, but sadly, a Delaware judge voided the award last year.

Elon Musk hits $500 billion net worth as Tesla board proposes $1 trillion pay package

While the 2018 stock grant remains stuck in a legal tussle, Tesla’s board of directors introduced a new pay plan for Elon Musk in September. This newly proposed package could give him stock worth up to $1 trillion, before taxes and share unlocking costs, if Tesla reaches extreme growth milestones. The plan includes a target for Tesla to multiply its market cap more than eight times over the next ten years.

“It’s not about ‘compensation’, but about me having enough influence over Tesla to ensure safety if we build millions of robots,” Musk said on X. “If I can just get kicked out in the future by activist shareholder advisory firms who don’t even own Tesla shares themselves, I’m not comfortable with that future.” But Tesla alone isn’t what made the $500 billion number possible. Elon Musk also owns a huge share of SpaceX, the rocket company he started in 2002.

In August, SpaceX’s private valuation surged to $400 billion, up from $350 billion in December after a new tender offer. Elon Musk holds 42% of SpaceX, and that stake is now worth $168 billion according to Forbes at press time. On top of that, there’s xAI Holdings, Elon’s AI startup that he merged with X (formerly Twitter). The combined entity is valued at $113 billion, and Elon owns 53%, which equals $60 billion more in his pocket.

Elon Musk was worth $24.6 billion just five years ago, in March 2020, but by August of that same year, Tesla’s stock rally had made him the fifth person to hit $100 billion. In November 2021, Elon Musk became the world’s richest person after reaching $190 billion. He became the third person to cross $200 billion in September 2021, after Jeff Bezos and Bernard Arnault. Then came $300 billion in November, and finally $400 billion in December 2024.

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According to reports, the guest list includes Meta founder Mark Zuckerberg, Apple CEO Tim Cook, Microsoft co-founder Bill Gates, and OpenAI founder Sam Altman. Each executive is expected to attend this private meeting, which is by invitation. Others include Greg Brockman, who is president of OpenAI, Sergey Brin from Google, Shyam Sankar from Palantir, and Alexandr Wang, who co-founded Scale AI and now leads a superintelligence group at Meta.

Donald Trump hosts tech execs amid surprise Elon Musk snub

Other attendees include Google’s CEO Sundar Pichai, Microsoft’s CEO Satya Nadella, Oracle’s Safra Catz, and Micron Technology’s David Limp. All of these names either share an affiliation with Trump’s second-term economic reshoring agenda or played roles in past administration-led announcements on emerging technologies. David Sacks, a venture capitalist who now holds the title of White House crypto and AI czar, is expected to be seated at the table.

Also in attendance will be Jared Isaacman, founder of Shift4, even though Donald Trump canceled his NASA nomination earlier in June without explanation. One high-profile absence is Tesla and SpaceX boss Elon Musk. Musk previously held a position as a special government employee in the early months of Trump’s current term and later ran the administration’s DOGE office, before leaving the position in May.

Trump discusses Musk’s absence amid feud

When he was asked about the snub on a phone interview on The Scott Jennings Show, Donald Trump addressed the topic in full. “He’s got 80% super genius, and then 20% he’s got some problems. And when he works out the 20%, he’ll be great,” Donald Trump said. He continued, “I always liked him. I like him now. But he went off the reservation, and he wished he didn’t do it.”

Trump described Elon as “a man of common sense” and “a good man,” then added, “I don’t think he has a choice. What’s he gonna do? He’s gonna go with the radical left lunatics? They’re lunatics.” Elon reportedly contributed at least $277 million to support Trump and other Republican campaigns. He later took credit for Trump’s 2024 victory and the GOP’s Senate edge.

In a June 5 post on X, Elon claimed, “Without me, Trump would have lost the election, Dems would control the House, and the Republicans would be 51-49 in the Senate.” He followed that with “Such ingratitude.” The feud escalated after Elon publicly slammed the administration’s latest tax legislation, nicknamed the “Big Beautiful Bill,” which had passed earlier in the year. On social media, Elon called it a “MOUNTAIN of DISGUSTING PORK.”

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