Australia’s wealthiest investors are eager to invest in Elon Musk’s SpaceX and his artificial intelligence company, xAI. One family office has reportedly raised over $US50 million ($72 million) to back Musk’s vision, which includes developing data centres in space. This surge in interest comes as SpaceX prepares to merge with xAI.
BFA Global Investors, managed by Jonathan Belz and Gavin Ezekowitz, offered clients another opportunity to invest in SpaceX last month, with a minimum investment of $US100,000 ($144,000). BFA is a private assets investment manager investing solely in US private assets. Last year, the firm raised $US35 million from high-net-worth clients, providing access to SpaceX, OpenAI, and PsiQuantum.
According to BFA, SpaceX’s long-term institutional investors include Google, Fidelity, Baillie Gifford, Andreessen Horowitz, and Founders Fund. Ezekowitz stated that they have raised over $US50 million in SpaceX and xAI combined over the past six months, noting unprecedented investor interest. Musk recently announced SpaceX’s acquisition of xAI, valuing the combined entity at $US1.25 trillion.
Musk envisions orbital data centres as crucial for the future of AI, arguing that terrestrial solutions alone cannot meet the growing electricity demands of AI without harming communities and the environment. Reuters reports that SpaceX is expected to go public later this year after generating approximately $US8 billion in profit on $US15 billion to $US16 billion of revenue in 2025. The IPO could potentially raise over $US50 billion.
