Space Exploration Technologies Corp. (NASDAQ: SPCX) CEO Elon Musk has denied reports that the company attempted to acquire artificial intelligence startup Cognition. The denial comes after Bloomberg reported on Wednesday that SpaceX had tried to buy the firm.

Cognition CEO Scott Wu addressed the claims on social media platform X, stating, "This is not true." He added that while he holds "huge respect for the SpaceX team," Cognition is not for sale and no acquisition talks have taken place. Musk endorsed Wu’s statement, confirming its accuracy.

Scope of Discussions Limited to Grok

Musk clarified the nature of any interaction between the two entities, stating that SpaceX had not held conversations with Cognition regarding anything other than "making sure Grok works well for their needs." This suggests any engagement was operational rather than transactional, focusing on the integration of Musk’s AI model, Grok, into Cognition’s workflows.

Cognition Funding and Valuation Context

The denial of acquisition rumors coincides with Cognition’s active fundraising efforts. The startup is currently in talks to secure fresh funding, eyeing a $40 billion valuation. This represents a significant increase from its last funding round in May, which valued the company at $26 billion. The latest round aims to raise roughly $1 billion.

Other SpaceX Developments

Beyond the acquisition denial, Musk provided updates on other major projects. He confirmed that SpaceX is recovering the Starship rocket from the Indian Ocean near Christmas Island following its 13th flight test. The rocket had spent nearly 24 days at sea, with Musk previously noting that recovery efforts looked difficult.

Additionally, Musk warned that an Ohio data center project, backed by Nvidia Corp (NASDAQ: NVDA) and intended to support OpenAI, could take longer to come online than expected. Reports indicate SoftBank Group (OTC: SFTBF) (OTC: SFTBY)-owned SB Energy is developing the data center, with OpenAI providing a guarantee of up to $105 billion tied to the lease.

What the Numbers Show

The divergence between Cognition’s valuation trajectory and the denial of an acquisition highlights the competitive dynamics in the AI sector. With Cognition seeking a $40 billion valuation—up from $26 billion in May—the startup is positioning itself as a high-value independent entity rather than a potential acquisition target for larger tech or aerospace conglomerates like SpaceX.

SPCX shares were down 0.90% to $138.40 during pre-market trading on Thursday.

Elon Musk stated he is "trying to do the right thing" after former Ukrainian Defense Minister Mykhailo Fedorov credited Space Exploration Technologies Corp. (NASDAQ: SPCX) with blocking unauthorized Russian use of Starlink in Ukraine. Fedorov said the intervention protected the country’s air defenses and saved civilian lives.

"Trying to do the right thing. I hope there is peace soon," Musk wrote on X on Monday in response to Fedorov’s praise.

Ukraine Credits SpaceX With Saving Lives

In a CBS News interview on Monday, Fedorov called Musk "probably the most important tech person and entrepreneur in the world for our country." He said Musk and SpaceX, by shutting down Russia’s illegal Starlink use on Ukrainian territory, "protected our air defense, saved our air force, and spared thousands of civilian lives."

Fedorov also told CBS that he remains in contact with Musk as Ukraine considers whether Starlink could help target Russian ballistic-missile launchers. "We need to defeat Russia in every technological cycle, and we have to make decisions 24/7," he said.

Starlink Crackdown Disrupts Communications

Ukraine’s relationship with Starlink dates to Russia’s 2022 invasion, when Fedorov publicly appealed to Musk to activate the service. Musk responded within hours, and Ukraine now uses tens of thousands of terminals for battlefield communications and some drone missions. Musk later broadened Starlink’s permitted use to "anything to help Ukraine."

According to a Reuters source, the crackdown disrupted Russian communications and helped shift battlefield momentum. Ukraine now faces a new threat as Moscow accelerates its Rassvet satellite network, which Kyiv warns could eventually operate "like Starlink." A report last week said Russia targets 292 satellites by 2027 and 924 by 2035.

Past Limits Shadow Cooperation

Musk’s role has not always aligned with Kyiv. Reuters reported he ordered Starlink coverage restricted during a 2022 Ukrainian counteroffensive amid fears of nuclear escalation. SpaceX later disputed that account and has said Starlink remains committed to Ukraine.

Fedorov nevertheless described the latest cooperation as "an invaluable contribution to our defense."