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FILED BY ADEQUATE · DARPA-HRO-11-C-0031

The Decoder · WEDNESDAY, JULY 1, 2026

SpaceX Shows Investors an AI Smartphone Prototype Powered by Elon Musk's Other Company

ADEQUATE ASSESSMENT

The prototype was slim. Investors were shown the prototype. The companies involved share a controlling shareholder, which was not mentioned in the presentation. Adequate does not speculate. Adequate simply observes. Adequate observes the org chart.

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ORIGINAL FILING

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