Musk to Push for Lighter AI Regulations at G20 Meeting

SpaceX's stock price rose by 0.94% on August 27 to $140, ahead of Elon Musk's speech at the G20 Innovation Ministerial Summit. The event, taking place between September 1 and 2 in North Carolina, will see Musk join Nvidia's CEO Jensen Huang and Sam Altman from OpenAI in addressing attendees.

The White House Crypto and AI czar David Sacks will also be present, as the US pushes for lighter regulations on AI. The country aims to convince G20 members not to create new regulatory bodies but instead work with private companies on testing emerging technologies.

SpaceX's expansion into the AI industry continues, with its xAI division seeing potential revenue increases after improvements to the Grok AI model. JPMorgan raised SpaceX's stock target to $240, citing this possibility.