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Elon Musk’s xAI Projects Over $13 Billion Annual Earnings by 2029, Bloomberg Reports

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Artificial intelligence startup xAI, founded by Elon Musk, expects to generate more than $13 billion in annual earnings by 2029, according to data shared by its banker Morgan Stanley, Bloomberg News reported on Thursday.

Morgan Stanley is seeking investors for a $5 billion debt sale by xAI and has disclosed the AI company’s financials to potential investors willing to commit at least $50 million. The figures reveal that xAI aims to reach $1 billion in gross revenue by the end of 2025 and $14 billion by 2029.

In the first quarter of this year, xAI reported $52 million in gross revenue but faced a loss of $341 million before interest, taxes, depreciation, and amortization (EBITDA). Projections show a rapid improvement, with EBITDA expected to rise to $2.7 billion by 2027 and hit $13.1 billion in 2029.

Like many AI startups, xAI is investing heavily in infrastructure, planning $18 billion in future data center investments following $2.6 billion in capital expenditures so far.

This financial unveiling coincides with a highly public spat between Elon Musk and former U.S. President Donald Trump, involving threats over government contracts. The effect of this dispute on xAI’s debt sale remains unclear.

In addition to the debt raise, xAI is reportedly targeting a valuation of $113 billion in a concurrent $300 million share sale.

Neither Morgan Stanley nor xAI has responded to Reuters requests for comment.

Motorola Solutions Nears $4.5 Billion Deal to Acquire Military Tech Firm Silvus Technologies

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Motorola Solutions is in advanced negotiations to acquire Silvus Technologies — a privately held maker of advanced wireless communication systems — in a deal valued at approximately $4.5 billion, according to a report from Bloomberg News citing sources familiar with the matter.

While a final agreement has not yet been reached, the companies may announce the deal within the coming weeks. Motorola Solutions, Silvus, and Silvus’s private equity owner TJC declined to comment when contacted by Reuters.

About Silvus Technologies

Founded in 2004 and headquartered in Los Angeles, Silvus develops high-performance wireless radio systems used in military, defense, and maritime operations. The company has become increasingly relevant amid rising global geopolitical tensions, with many governments investing in the modernization of military communications and surveillance infrastructure.

Silvus had been exploring strategic alternatives, including a potential sale or initial public offering, before emerging as an acquisition target for Motorola.

Motorola’s Strategic Move

Chicago-based Motorola Solutions, best known for its public safety communications equipment such as walkie-talkies, body cameras, and surveillance software, appears poised to expand deeper into the defense and mission-critical communication markets with this acquisition.

In April, Motorola launched the SVX — an all-in-one device combining a remote speaker microphone, AI-powered assistant, and body camera aimed at first responders. The addition of Silvus could strengthen Motorola’s portfolio in military-grade mesh networking and field communications.

Financial Context

  • Motorola recently issued second-quarter guidance that missed analyst expectations.

  • Its stock is down 9% year-to-date.

  • The company holds a market valuation of $70.59 billion.

The acquisition of Silvus could bolster growth prospects and diversify Motorola’s critical communications offerings, especially at a time when demand for secure, resilient wireless infrastructure is rising across defense and public safety sectors.

Apple Developing Custom Chips for Smart Glasses, AI Servers, and Next-Gen Macs

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Apple is advancing its hardware ambitions with the development of specialized chips designed to power future products, including its first smart glasses, AI servers, and next-generation MacBooks, Bloomberg News reported on Thursday, citing sources familiar with the matter.

The tech giant’s reported progress on a low-power chip for smart glasses signals its intent to directly compete with Meta’s popular Ray-Ban smart glasses, a category that’s becoming increasingly central in the race toward consumer wearables integrated with AI.

The glasses-specific chip is said to be based on Apple Watch silicon, emphasizing power efficiency and compact form factors. It has been tailored to support multiple cameras — a key feature for augmented reality (AR) and immersive use cases — and could enter mass production as early as late 2026 or 2027, with TSMC (Taiwan Semiconductor Manufacturing Company) slated as the manufacturing partner.

Beyond Smart Glasses:
Apple is also reportedly working on AI-optimized server chips to support the Apple Intelligence platform — the company’s suite of on-device AI features introduced for iPhones. These capabilities include notification summaries, email rewriting, and integration with OpenAI’s ChatGPT.

The server chips would provide the infrastructure needed to process more complex AI workloads, marking a notable shift for Apple as it begins to build its own AI compute backbone, rather than relying entirely on third-party providers.

MacBook Chip Roadmap Expands:
In addition, Apple is said to be developing new Mac chips, expected to be named the M6 and M7, extending its in-house silicon strategy. Apple’s custom chips have already proven transformative in differentiating its Mac lineup, offering significant performance gains over Intel-based predecessors.

Earlier this year, Apple also unveiled its first custom modem chip for iPhones, reinforcing its long-term commitment to vertical integration — from semiconductors to software.

While Apple has not publicly commented on the report, its steady push into AR, AI, and custom hardware signals the company is not merely following trends — but aiming to shape them.