Elon Musk lost his trillionaire status after his net worth fell rapidly over three days amid declines in SpaceX and Tesla shares. His net worth dropped from $1.05 trillion to $987 billion between Tuesday and Thursday. The shift underscores that his wealth moves with company valuations, and he argues money will matter less over time as AI changes work.
Financing deals are increasingly shaping how AI chipmakers and AI labs secure customers instead of relying only on better hardware and technology. Broadcom was reported to be seeking about $30 billion in debt to help OpenAI buy chips they develop together, after a $35 billion Anthropic deal and a separate $60 billion package for Anthropic and others. As more capital is tied to purchasing and equity terms, customers may have fewer easy options to switch providers and labs may face new constraints, especially as they pursue IPOs and higher disclosure requirements.
Nvidia defended the Open Secure AI Alliance, saying it was created to develop and share AI safety and cybersecurity tools and to avoid repeating the Hugging Face hack. It said the Linux Foundation is vetting “hundreds and hundreds” of companies for entry into the alliance. This framing positions the coalition as more than symbolic by emphasizing an ongoing, structured onboarding process for participants.
Firmus scrapped plans for a major Australian stock market listing after citing market volatility and saying the IPO would not be in shareholders’ interests. It had been aiming for a valuation above $30bn. The company will seek funding in private markets and consider other public or private options instead.
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