SpaceX has appointed longtime Elon Musk ally Roelof Botha as an independent director and audit committee member days after its record IPO. The move adds a key Sequoia Capital figure to a board where Musk holds overwhelming voting control.
Musk controls more than 82 percent of voting rights at SpaceX and owns shares worth over $1 trillion, a governance structure that limits outside shareholders' influence.
Botha becomes the latest longtime Musk ally to join the board of one of his companies.
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SpaceX has agreed to acquire Grain Management's nationwide 800 MHz spectrum portfolio, which it says will pave the way for Starlink Mobile to become a major US mobile carrier. The deal needs FCC approval, and financial terms were not disclosed.
SpaceX is seeking $40 billion in debt financing led by Apollo Global Management to buy Nvidia AI chips, with talks still early and a possible 2027 close. The move highlights the scale of capital required for AI infrastructure expansion across Musk's companies.
Elon Musk said on October 4 that SpaceXAI will be renamed SpaceXSI, adopting "SI" for super intelligence after President Trump's push to drop "AI."
SpaceX Starship reached orbit for the first time on its 14th test flight from Texas on September 28 despite an early engine shutdown. The vehicle is expected to complete six orbits over 10 hours and deploy 26 Starlink V3 satellites before Pacific splashdown.
NASA awarded SpaceX a $946 million contract for three more crewed missions to the ISS, bringing the company's total under the deal to 17 flights through 2030 and the contract value to $5.92 billion. The expansion helps NASA sustain access to the station while Boeing prepares its Starliner for crewed operations.
