Elon Musk News Highlights - June 2, 2025
xAI Valued at $113 Billion Amid Major Share Sale
Elon Musk's artificial intelligence company, xAI, is conducting a $300 million share sale, valuing the firm at $113 billion. This move allows employees to liquidate shares and sets the stage for a larger funding round. xAI recently merged with X (formerly Twitter) and has developed the Grok chatbot and the Colossus supercomputer in Memphis.
XChat Launches with Encrypted Messaging and Calls
Musk announced the rollout of XChat, a new encrypted messaging feature integrated into X. XChat offers end-to-end encryption, disappearing messages, and supports all file types along with audio and video calls. Built on the secure Rust programming language, it aims to enhance user privacy and functionality.
Musk Exits U.S. Government Role, Trump Says He's 'Not Really Leaving'
Elon Musk has stepped down from his role leading the Department of Government Efficiency. Despite his departure, President Trump stated that Musk 'will, always, be with us, helping all the way,' suggesting ongoing informal involvement.
Tesla Supercharger Shutdowns in New Jersey
Tesla CEO Elon Musk responded to the decommissioning of over 60 Superchargers on the New Jersey Turnpike, a move that has sparked discussions about infrastructure and regulatory challenges.
Bitcoin Prices Dip Amid Musk-Related News
Bitcoin prices have declined, with analysts pointing to recent news involving Elon Musk as a contributing factor. Predictions suggest a potential drop to $97,000.
