Gate News message, April 12, Musk’s social app XChat will officially launch on the App Store on April 17. Musk previously said that XChat’s goal is to replace the old Twitter direct message system and build a fully encrypted platform supporting text, file transfers, and audio and video calling.

OpenAI CEO Sam Altman responds to the Molotov cocktail attack, admits he underestimated the societal impact of AI-related anxiety, calls for democratizing technology, and acknowledges mistakes in corporate governance, reiterating his refusal to comply with Elon Musk’s demands for control of OpenAI to ensure the company develops independently.

Musk confirmed on the X platform that Grok 4.2 has 0.5 trillion parameters. Calculations suggest that Claude Opus has about 5 trillion parameters, and Sonnet has 1 trillion. Although Anthropic has not disclosed the model parameters, these figures come from Musk’s remarks. Meanwhile, SpaceX AI’s Colossus 2 supercomputer is training a model with the largest scale of 10 trillion parameters, which will become a key competitive factor.

Gate News message: According to Gate’s official announcement, Gate’s stock section has launched pre-IPO SPACEX perpetual contract trading, with USDT settlement. This contract supports 1–10x long and short operations, and the leverage ratio can be selected by the user at the time of placing the order. SpaceX was founded by Elon Musk in 2002 and is the world’s largest commercial aerospace company. This contract is set up based on SpaceX’s current pre-IPO stage, and is intended to provide market-based valuation and price discovery for its stock. The valuation unit is 1 billion; for example, if SpaceX’s company valuation is 800 billion USD, then 1 SPACEX is priced at 800 USD.

SpaceX executive Michael Nicolls said in a memo that xAI’s training performance is poor and clearly behind its competitors. As a result, it decided to reorganize the engineering team, appoint a new leader, and aim to catch up with companies like OpenAI and Google. This move is part of the rebuilding plan pushed by Elon Musk.

Elon Musk and the U.S. Securities and Exchange Commission (SEC) failed to reach a settlement, and will head to trial to resolve allegations that he misled investors before acquiring Twitter. Both sides filed a joint case-status report, stating that the court’s alternative dispute resolution options are unhelpful.

Elon Musk denied reports that SpaceX’s IPO would exclude Robinhood and SoFi, emphasizing that retail investors still have an opportunity to participate. SpaceX plans to set aside 30% of the IPO shares for retail investors, estimating fundraising of up to $75 billion. The market is expected to remain stable, and younger investors will continue to invest in high-growth technology companies.

Gate News message, March 31: After Elon Musk on the X platform reposted discussions related to Google’s quantum security white paper, he commented: “On the bright side, if you forget your wallet password, maybe in the future you can still get it back.” This remark sparked interest in the crypto community, and advances in quantum computing technology may bring new changes to the field of cryptography.

Elon Musk is considering allocating 30% of shares to retail investors in the SpaceX IPO, significantly higher than the traditional proportion. This move aims to leverage the fan base to stabilize demand after the listing. The IPO is expected to be valued at $75 billion, with plans to kick off the roadshow in 2026. Meanwhile, SpaceX is making management adjustments to optimize costs, attract long-term investors, and reduce trading volatility risk. This strategy could influence the listing models of future tech companies.

Gate News reports that on March 27, The Information stated that SpaceX plans to submit an IPO application as early as this week, with market sources indicating they aim to raise up to $75 billion in the IPO. Additionally, sources familiar with the matter revealed that Elon Musk's X company is undergoing layoffs and restructuring, but specific details have not been disclosed.