SpaceX and its investors have agreed to purchase as much as $1.25 billion of insider shares in a transaction valuing Elon Musk’s rocket and satellite maker at about $350 billion, according to an internal email seen by Bloomberg. The per-share price of $185 is up substantially from the $112 set in a prior valuation less…
Elon Musk’s xAI has raised $6 billion in new capital, according to a regulatory filing, wrapping up a funding round that has been in the works for months and was said to value the artificial intelligence startup at more than $40 billion. The equity financing came from 97 investors, and includes stakes as small as…
China launched its first rocket from a new commercial space site on Saturday night as the country attempts to expand its presence in a business currently led by Elon Musk’s SpaceX. The rocket successfully placed two experimental satellites into orbit, China Central Television reported. Source link
Hi, I’m Merryn Somerset Webb, Bloomberg UK Wealth’s editor-at-large. Welcome to the Merryn Talks Money newsletter. Every Saturday, I’ll bring you micro to macro thoughts on your money and investments. I welcome your feedback. Just when you think Warren Buffett has imparted all the advice anyone could possibly need, he produces a bit more. This…
Australia’s controversial new law barring under-16s from social media is one of the toughest crackdowns yet on platforms including Facebook and TikTok as governments worldwide grasp for ways to protect children from harmful content. The blanket ban, passed late Thursday night, establishes some of the most stringent internet usage restrictions outside of China and other…
Even as Tesla Inc. Chief Executive Officer Elon Musk is set to become a more controversial figure in China as part of Donald Trump’s administration, his mother is still a clear-cut favorite in the country. This month, Maye Musk attended the Shanghai store opening of Chinese mattress brand AISE Baobao, for which she’s a global…
Jeff Bezos has shot down Elon Musk’s claim that the Amazon.com Inc. founder told “everyone” Donald Trump would lose the US election and they should sell off their SpaceX and Tesla Inc. stock. “Nope. 100% not true,” Bezos said in a rare post Thursday on X, the social media platform Musk owns. Musk then appeared…
While Tesla Inc. is grabbing the headlines, Xpeng Inc. has been the hottest electric vehicle stock over the past few months as investors rapidly warm to its product strategy. The company’s Hong Kong-listed shares have surged 93% from an August low, far outpacing gains in peers from Tesla to fellow Chinese EV maker Nio Inc….
Xi Jinping used his final meeting with Joe Biden to send a clear message to Donald Trump: China wants to be friends, but is ready for a fight if necessary. With Biden set to leave the White House in January, China’s leader took Saturday’s meeting as a chance to spell out his approach toward Trump….
AST SpaceMobile Inc., which aims to challenge Elon Musk’s SpaceX in the nascent market for space-based cellular service to mobile phones, has signed contracts with Jeff Bezos-founded Blue Origin and at least one other unnamed provider to launch dozens of its satellites into orbit. The Midland, Texas-based company will use Blue Origin’s forthcoming New Glenn…