Whalesbook
French Investigation Steps Up as IPO Nears
Ab dekho, French authorities ne X par apni jaanch tez kar di hai. Unhone Elon Musk aur ex-CEO Linda Yaccarino ko April 20, 2026 ko voluntary interviews ke liye bulaya hai. Yeh investigation January 2025 mein shuru hui thi aur February 2026 mein office raids bhi hue the. Ab toh yeh allegations bhi hain ki woh child abuse material, explicit deepfakes faila rahe hain, aur crimes against humanity ko deny kar rahe hain. Yahan tak ki X ka AI chatbot Grok bhi controversy mein hai, woh Holocaust denial aur nonconsensual deepfakes jaise bakwaas content generate kar raha hai. Paris prosecutor's office ne toh US authorities ko bhi bataya hai ki X ki value ko artificially badhaya gaya hai, jisse June 2026 mein hone wale stock market listing se pehle fayda ho sake. Isse Musk ke businesses mein uncertainty badh gayi hai.
Allegations of Inflated Valuations
French investigators yeh dekh rahe hain ki kya X aur uske AI ke controversies ko deliberateise banaya gaya tha taaki Musk ki companies ki valuation badh jaye. Prosecutors ne US Department of Justice aur SEC ko bhi alert kiya hai. Unhe lagta hai ki deepfake issues ko strategically use kiya gaya hoga X aur xAI ki value badhane ke liye, especially June 2026 mein hone wali SpaceX aur xAI ki merged entity ke IPO se pehle. Lekin, US Department of Justice ne reportedly French requests ko reject kar diya hai, unhe lagta hai ki yeh sab politically motivated actions hain jisse ek US company ko regulate karne ki koshish ho rahi hai. Isse international regulatory friction badh gayi hai aur Musk ke financial strategies par bhi sawal uth rahe hain.
SpaceX IPO Plans Amidst X's Valuation Struggles
Ek taraf X regulatory pressure mein phasa hai, toh doosri taraf uski parent company SpaceX ek historic IPO ki taiyari mein hai. February 2026 mein xAI ke saath merger ke baad, SpaceX ki valuation around $1.25 Trillion hai aur June 2026 tak unka target $1.75 Trillion se $2 Trillion tak jaane ka hai, jo ab tak ka sabse bada IPO hoga. Yeh valuation AI aur space infrastructure ko integrate karne ki strategy par based hai, jisme Starlink, X, aur xAI bhi shamil hain. X ki apni valuation bhi fluctuate hui hai, March 2025 mein $44 Billion thi, jo late 2024 mein $10 Billion se kam thi (Fidelity Investments ke mutabik). Competition ki baat karein toh Meta Platforms ka P/E ratio 28.5-29.3 hai. TikTok bhi regulatory challenges face kar raha hai. SpaceX entity aur X platform ki valuation mein itna bada difference dikhata hai ki kaise regulatory issues Musk ke empire ke alag-alag hisson ko affect kar rahe hain.
Risks to Trust and Advertiser Confidence
Yeh French investigation X ke liye kaafi risky hai. Isse regulatory penalties lag sakte hain aur advertiser confidence ko aur damage ho sakta hai, jo pehle se hi kam hai. X ki CEO Linda Yaccarino (May 2023 se July 2025 tak) se bhi unke tenure mein company ki leadership ke baare mein poochhtaachh ho rahi hai. Unka exit bhi Grok ke controversial content aur brand safety issues ke baad hua tha. Agar yeh allegations prove ho jaati hain ki controversies deliberately valuations badhane ke liye create ki gayi thi, toh yeh Musk ke risk-taking pattern ko dikhayega, jo institutional investors ko door kar sakta hai. US Department of Justice ka French authorities ke saath cooperate na karna global regulatory stance mein division dikhata hai, aur shayad doosre platforms ko bhi oversight se bachne ka encouragement mil sakta hai. Meta jaise rivals ke muqable, jinka P/E ratio strong hai, X ek direct criminal investigation face kar raha hai.
SpaceX IPO Faces Regulatory Clouds
Toh bhai, SpaceX ka June 2026 ka IPO plan, jiska target $2 Trillion se zyada hai, woh sabse bada focus hai. xAI ke saath merger se AI aur space infrastructure ka ek powerful combo banega. Lekin, France ki yeh ongoing investigation X, uske AI, aur valuation manipulation ke allegations ke karan kaafi uncertainty paida kar rahi hai. Yeh sab Musk ki sabhi ventures ki reputation ko damage kar sakta hai aur investor interest ko affect kar sakta hai. SpaceX Starlink aur Starship par build karna chahta hai, par X ke regulatory issues aur AI ethics par chal rahi debate investors ke liye bade factors honge.