Exclusive: financial disclosures from Emil Michael – who also reaped millions from xAI stock earlier this year – show he sold his Perplexity stock for up to $25m

The top Pentagon official overseeing military artificial intelligence policy, who reaped profits earlier this year of up to $24m selling his private investment in Elon Musk’s AI company, has now sold his holdings in another AI company for between $5m and $25m, according to records seen by the Guardian. (Federal financial records show ranges of dollar values rather than specific figures.)

Earlier this year, the Guardian disclosed that the official, Emil Michael, had profited handsomely from his investment in Musk’s xAI in January, with a gain of between 400% and 4,800%.

Exclusive: Experts and former officials say accounts are running dry, and funding a war with no clear endgame is the main challenge

Donald Trump’s war on Iran has driven the US military into a severe financial crisis, with the US navy forced to transfer money from its payroll and other sources to cover the costs of combat, according to documents seen by the Guardian, and interviews with navy officials, contractors and defense analysts.

The US-Israeli operation, which has depleted US munitions stockpiles and prompted retaliatory Iranian strikes that have wrecked strategic bases across the Middle East, is piling pressure on budgets across the military.