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SpaceX’s Public Debut Falters: 49% Drop From IPO as Musk Emphasizes Long-Term Horizon
business1 month ago

SpaceX’s Public Debut Falters: 49% Drop From IPO as Musk Emphasizes Long-Term Horizon

SpaceX priced its IPO at $135 and, as of now, SPCX trades around $114—roughly 49% below its post-IPO peak. Elon Musk has warned that the company may miss quarterly earnings to fund Moon and Mars infrastructure, signaling a focus on decade-long returns rather than short-term profits. SpaceX also reserved a sizable portion of its IPO for retail investors, challenging Wall Street norms. Investors should weigh a long-term thesis over near-term price moves.

via 24/7 Wall St.|
#business#elonmusk#ipo
SpaceX Stock Sinks to Fresh Low as Starship Launch Scrubbed
business1 month ago

SpaceX Stock Sinks to Fresh Low as Starship Launch Scrubbed

SpaceX’s stock slipped below its $135 IPO price and continued to fall after the company canceled its first Starship launch since going public, wiping out roughly $320 billion in market value from IPO day and about $1 trillion from its June peak. The retreat comes amid looming lockup expirations that could unload hundreds of millions of shares, while investors await a retry of the Starship flight planned for early next week. Starship remains central to SpaceX’s future, supporting Starlink and NASA’s Artemis moon program, making the stock sensitive to flight and engine issues.

via Business Insider|
#business#elonmusk#ipo
Wisconsin panel says Musk’s $1 million voter payouts may violate state law
politics1 month ago

Wisconsin panel says Musk’s $1 million voter payouts may violate state law

Two complaints allege Elon Musk violated Wisconsin law by giving $1 million to voters before the 2025 state Supreme Court race; the Wisconsin Elections Commission voted 5-1 to refer the cases to Brown County prosecutors, who have 40 days to report back. Musk’s allied groups spent over $20 million supporting a Republican-backed candidate who lost to Susan Crawford, while watchdogs pursue further limits on cash payments in the state.

via CNN|
#campaignfinance#electionbribery#elonmusk
SpaceX IPO Draws Over $100 Billion in Retail Orders Ahead of Debut
business2 months ago

SpaceX IPO Draws Over $100 Billion in Retail Orders Ahead of Debut

Retail investors reportedly ordered more than $100 billion of SpaceX shares ahead of its IPO, with BlackRock placing at least $5 billion and individual orders totaling tens of billions; SpaceX aimed to price at $135 per share as it prepares for a trading debut that could set demand records, despite critics raising questions about valuation and Musk-controlled governance.

via Forbes|
#business#elonmusk#investing
OpenAI Chief’s Diary Read Aloud as Mission vs. Money Battle Heats Up in Court
technology3 months ago

OpenAI Chief’s Diary Read Aloud as Mission vs. Money Battle Heats Up in Court

In Elon Musk’s lawsuit over OpenAI’s nonprofit mission, OpenAI president Greg Brockman testified and was forced to read his private diary entries, which his team says reflect deep consideration of OpenAI’s mission rather than greed. The journals, dating from 2015 to 2023, contain notes about a potential for-profit arm and Brockman’s billionaire-style stake, which Musk’s lawyers seized on to portray a money-driven mindset. Brockman defended the entries as contextual and aimed at safeguarding the mission, while detailing board dynamics, Musk’s 2018 departure, and concerns about unilateral control. The trial continues to weigh whether OpenAI strayed from its nonprofit roots in pursuit of advancement in artificial intelligence.

via Ars Technica|
#elonmusk#forprofit#gregbrockman
Epstein’s Silicon Valley web widens in latest DOJ file release
technology6 months ago

Epstein’s Silicon Valley web widens in latest DOJ file release

New DOJ document releases show Epstein’s long-running effort to embed himself with Silicon Valley elites—including Elon Musk, Bill Gates, Sergey Brin, Peter Thiel, Reid Hoffman and Steven Sinofsky—through emails, meetings and island visits. While some interactions are described as legitimate or philanthropic, the materials do not prove wrongdoing, but they deepen scrutiny of these connections and Epstein’s role as a power broker before his 2019 death.

via CNBC|
#billgates#doj#elonmusk
Elon Musk Cuts Starlink Access for Russian Forces, Shaking Ukraine Battlefield Communications
world6 months ago

Elon Musk Cuts Starlink Access for Russian Forces, Shaking Ukraine Battlefield Communications

Elon Musk is reported to have cut Starlink service reaching Russian military units in Ukraine, a move that could disrupt battlefield communications and hinder Russian drone operations; the piece references Business Insider and Daily Kos, noting the potential strategic impact and inviting discussion about its significance.

via Daily Kos|
#elonmusk#military-communications#russia
Elon Musk bets on a SpaceX–xAI fusion in a $1.25 trillion, space-powered AI push
business6 months ago

Elon Musk bets on a SpaceX–xAI fusion in a $1.25 trillion, space-powered AI push

Elon Musk is merging SpaceX with his AI startup xAI in a deal valuing the combined company at about $1.25 trillion (SpaceX ~$1 trillion, xAI ~$250 billion) with an IPO planned for June. Musk argues the merger will move AI compute into space by building a vast network of solar-powered datacentres via up to a million satellites. Experts warn of technical and maintenance challenges for space-based datacentres and potential impacts on SpaceX shareholders, while investors see strategic value in pairing Musk’s rocket hardware with AI software. Analysts also hint at broader Musk consolidation, including a possible Tesla–SpaceX tie-up.

via The Guardian|
#aicompute#business#elonmusk
Europe urged to mirror Spain's social-media safety plan
politics6 months ago

Europe urged to mirror Spain's social-media safety plan

EU countries are urged to adopt Pedro Sánchez’s five-step plan to curb social-media misuse: hold platform executives liable for infringements, criminalize algorithmic manipulation, implement a hate-polarization footprint, ban minors under 16 with robust age verification, and empower prosecutors to pursue infractions by major platforms like Grok, TikTok, and Instagram.

via Daily Kos|
#elonmusk#europeanunion#onlinesafety
Experts Push Back on Musk's Vision of a Post-Savings Retirement
business7 months ago

Experts Push Back on Musk's Vision of a Post-Savings Retirement

Elon Musk claims AI, energy, and robotics will create such abundance that retirement savings won’t matter, but seven personal-finance and AI experts say Americans should still save for retirement. They warn about Social Security funding shortfalls, uneven productivity gains, and ongoing cost‑of‑living pressures, arguing that relying on future abundance is risky and that individual saving remains essential.

via Business Insider|
#ai#business#elonmusk