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Musk’s Business Empire Makes Bold Moves — But Not Without Its Architect

In the first week of June, U.S. stocks saw mild gains, but Elon Musk’s companies made bigger headlines. While the tech mogul continues to juggle ventures in AI, space, neuroscience, and electric vehicles, two of his flagship companies — Tesla and Neuralink — reminded investors why Musk’s presence still matters more than ever.

Neuralink Raises $650 Million, Eyes Commercial Future

On Monday, Neuralink — Musk’s brain-machine interface startup — confirmed it had closed a staggering $650 million funding round. This Series C raise was led by Peter Thiel’s Founders Fund and included participation from high-profile backers like Sequoia Capital, Google Ventures, and Dubai’s Sovereign Wealth Fund.

The company aims to use the funds to accelerate clinical trials, hire new engineers and neuroscientists, and push toward FDA approvals for its neural implant, which is being tested in quadriplegic patients. Neuralink claims that its brain-chip technology will one day allow users to control digital devices with their thoughts — an ambition far beyond the current medical applications.

While promising, the company still has to overcome regulatory and ethical hurdles. Its closest competitors — including Synchron and Precision Neuroscience — are also racing to commercialize similar technologies, albeit with more conservative designs.

Tesla Sales Soar in Norway — But Europe Tells a Different Story

Tesla, meanwhile, posted eye-catching sales figures in Norway. Official data showed that new car registrations of Tesla vehicles surged 213% year-over-year in May, totaling 2,600 vehicles. The Model Y accounted for the bulk of these numbers, reaffirming its status as one of the top-selling EVs in Europe’s most electrified market.

But zooming out, the picture is mixed. Across the broader European market, Tesla sales have slowed. According to the European Automobile Manufacturers Association, Tesla’s market share in the EU fell from 2.8% in Q1 2024 to 2.3% in Q1 2025, citing rising competition from BYD, Volkswagen, and Renault’s electric divisions.

Tesla’s global valuation remains strong at over $1 trillion, but recent price cuts and a softening EV demand curve — particularly in Germany and the UK — signal potential turbulence ahead.

xAI and the Race for Valuation

Beyond Tesla and Neuralink, Musk is aggressively pushing forward with his AI startup, xAI. The company, which aims to create an alternative to OpenAI, is reportedly seeking a valuation of over $120 billion. This dwarfs that of competitors like Perplexity AI ($14B) and Anthropic ($61.5B).

xAI recently unveiled Grok-2, a conversational AI integrated with X (formerly Twitter). However, despite hype and Musk’s influence, analysts argue the company needs more than branding to outperform entrenched players like Google DeepMind and OpenAI.

Success, Yes — But Still Steering-Dependent

While the Neuralink deal and Tesla’s Norway numbers may seem like signs of autonomous momentum, both happened when Musk was still involved with his so-called “Department of Government Efficiency” advisory stint in Washington. The implication? These successes weren’t achieved without Musk’s oversight.

Despite technological advances and billion-dollar valuations, Musk’s companies aren’t fully self-driving — figuratively or literally. Tesla’s “Full Self-Driving” (FSD) software, now in Beta v12, still requires driver intervention and regulatory approval before mass rollout.

As one fund manager put it, “Musk’s ventures are exciting, but they don’t run on autopilot. Without his intense focus, the wheels could wobble.”

The Bigger Picture

The broader market context adds more weight to this narrative. U.S. President Donald Trump’s recent announcement of a 50% steel import tariff is expected to raise domestic costs — possibly affecting Tesla’s margins on U.S.-made vehicles. Simultaneously, China’s factory output dropped at its fastest pace since 2022, signaling slower global demand — another red flag for the automotive sector.

In such an environment, companies need leadership clarity, not just vision. And while Musk’s multi-billion-dollar enterprises remain at the forefront of innovation, none are yet capable of steering themselves without their founder’s hand on the wheel.

Musk’s ecosystem of ventures is thriving on multiple fronts, but none are immune to market shifts, competitive pressures, or internal dependencies. For now, his leadership remains the essential software running the system.