According to Bloomberg, although Tesla’s stock price has continued to decline in the past few months, Elon Musk’s private company valuation has increased. Secondary market investors have pushed up the combined valuation of Musk’s four unlisted companies by 45% since the U.S. election, according to a new analysis provided exclusively to Bloomberg by trading platform Caplight.
Caplight integrates secondary market transaction data with other signals such as buyer interest to estimate the daily stock prices of Musk's SpaceX, Neuralink, Boring and xAI companies. Caplight said xAI was the main upside driver of the portfolio's returns. The company’s data shows that xAI shares have risen 110% since November 5 last year. xAI is an AI laboratory built by Musk to compete with OpenAI.
xAI’s recent deal talks with investors put the startup’s valuation at around $75 billion. However, Caplight estimates that as of March 10 this year, xAI’s transaction valuation in the secondary market has reached $96 billion. The trading platform provides buyers with investment opportunities in these four Musk-owned companies as well as Tesla, forming an investment portfolio called the "Elon Musk Crossover Index" (Elon Musk Crossover Index).
Caplight CEO Javier Avalos said the company did not include Musk's X in its analysis because the social media platform's secondary market trading activity is "extremely limited."