# Rinehart Backs SpaceX in Bold AI Bet

Page: https://stenobird.com/podcast/melbourne-news-today-2-min-news-the-daily-news-now-7572838/rinehart-backs-spacex-in-bold-ai-bet
Text version: https://stenobird.com/podcast/melbourne-news-today-2-min-news-the-daily-news-now-7572838/rinehart-backs-spacex-in-bold-ai-bet.md
Podcast: [Melbourne News Today | 2 Min News | The Daily News Now!](https://stenobird.com/podcast/melbourne-news-today-2-min-news-the-daily-news-now-7572838)
Published: 2026-06-15T07:20:52+00:00
Episode link: https://api.fastcast.ai/audio/0a8c4274-4d94-45a8-893e-4ad46ad5aff6.mp3
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Duration seconds: 119

## Resource

Australian billionaire Gina Rinehart has poured at least $1.4 billion into SpaceX, betting big on Elon Musk’s vision to revolutionize space, AI, and beyond. With SpaceX’s record-breaking IPO valuing the company at $2.1 trillion, Rinehart sees the venture as a rare opportunity to invest in long-term, transformative tech — especially its AI and off-world ambitions. Hancock Prospecting, already leveraging AI, may even supply critical minerals for SpaceX’s future infrastructure. Despite SpaceX’s unprofitable start and lofty goals like space datacenters and colonies, the stock surged 18% on day one, outpacing even Tesla and Meta. Rinehart’s move signals deep confidence in Musk’s ability to reshape humanity’s future — one rocket, one AI algorithm, one star at a time. Support the show: Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN: advertise@thednn.ai This is an automated, high-level news summary based on public reporting. Report issues to feedback@thednn.ai. View sources & latest updates: https://sources.thednn.ai/13acbe73d06a1915

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