xAI Co-Founders Leaving Amid IPO as Elon Musk Announces Lunar AI Factory Plans (AAPL, BAC, CSCO, META, NVDA, SPAC)

On February 11, 2026, Elon Musk addressed xAI employees during an all-hands meeting,宣布 plans to establish a lunar manufacturing facility to produce AI satellites, citing higher compute capacity for the company’s world-model AI. The company is in transition, with six of its 12 founding members leaving amid a pending IPO rumored to target a $1.5 trillion valuation in the coming months. Co-founder Tony Wu and Jimmy Ba resigned within days of a February 9 press briefing where Musk outlined the lunar shift from Mars colonization, which he now says could be achieved in about half the time. The moves follow a leadership shakeup as xAI prepares for a potential SPAC merger and a significant stock offering. Legal and operational feasibility remain uncertain under the Outer Space Treaty and U.S. lunar resource extraction laws, with questions about governance and supply chain as the team shrinks. The IPO timing, valuation, and the path to realizing the lunar factory are key focuses for investors amid evolving strategic priorities.