Altman Accuses Musk of Hyping Space-Datacenter Venture to Investors
OpenAI's Sam Altman says Elon Musk is using space and datacenter hype to court investors as SPCX stock hovers near a 52-week low.
A public feud between two of the most prominent figures in the technology world has taken a sharper financial edge, with OpenAI CEO Sam Altman accusing Elon Musk of leveraging grandiose narratives around space infrastructure and datacenters to attract investor capital. The accusations arrive at a notable moment: SPCX, the exchange-traded fund tied to space economy exposure, is trading near its 52-week low, raising questions about whether retail and institutional enthusiasm for Musk-adjacent ventures has begun to cool.
Adding pointed analytical weight to Altman's critique, Morgan Creek Capital's Mark Yusko drew a provocative comparison, likening SpaceX to Dogecoin. His argument centers on the concept of float — or rather, the lack of it. Because SpaceX remains a private company with a thin publicly tradable float, Yusko contends there is insufficient exit liquidity for ordinary investors, a structure that primarily benefits Musk and early-stage backers who got in before the hype reached its current pitch.
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The Yusko framing is worth unpacking. When float is thin, price signals can become distorted — a small number of transactions can move valuations dramatically, creating an illusion of robust market demand. Critics argue this dynamic can draw in later-stage investors chasing momentum, while those who hold the bulk of equity remain largely insulated from downside risk. Whether or not one accepts Yusko's Dogecoin analogy in full, the underlying concern about liquidity asymmetry in high-profile private ventures is a legitimate and longstanding issue in venture markets.
The timing of these accusations also intersects with broader anxieties about AI infrastructure spending. Musk has been publicly skeptical of OpenAI's direction since his departure from its board, and Altman's willingness to fire back with investor-protection framing signals that the rivalry has moved well beyond personal grievance into a battle for capital credibility. Both men are competing, directly or indirectly, for the same pools of institutional and sovereign wealth money flowing into AI and adjacent infrastructure.
For investors watching SPCX drift toward multi-month lows, the public sparring between Altman and Musk may reinforce caution about space-economy narratives more broadly. Continue reading at Yahoo.
