As SpaceX edges closer to what could be the largest IPO in history, Goldman Sachs has projected that the company's artificial intelligence division will see revenue explode from $3.2 billion to $322 billion by 2030 — fueled by Elon Musk’s ambitious plan to build orbital data centers. The forecast underscores a Wall Street bet that space-based compute could reshape the AI economy.
Elon Musk's SpaceX is planning a $75 billion initial public offering that would dwarf the previous record set by Saudi Aramco. The company, valued at approximately $1.8 trillion at the offering price, would list with Musk holding over 80% voting power through dual-class shares, according to an updated SEC filing.
OpenAI CEO Sam Altman announced a dedicated robotics division over the weekend, while Nvidia partnered with China’s Unitree, piling pressure on Tesla’s still-unveiled Optimus humanoid robot and sending TSLA shares lower on Monday.
The U.S. Securities and Exchange Commission defended its settlement with Elon Musk over his delayed disclosure of Twitter share purchases, saying it reflects necessary compromises and was not the result of collusion, after a federal judge raised concerns about the deal.
In its IPO filing, SpaceX says it is helping create a 'Kardashev II-level civilization.' But astronomers say Earth hasn't even reached Type I—and the claim could attract SEC scrutiny.
Wall Street is buzzing over SpaceX's record-breaking IPO, but a Reuters analysis of the 50 largest IPOs from the past five years reveals that investors would have been better off buying an S&P 500 index fund roughly 75% of the time. High valuations like SpaceX's near 100 price-to-sales ratio historically lead to disappointing returns, underscoring the challenge of finding bargains after a company's pre-IPO hype.
British Prime Minister Keir Starmer condemned violent protests that erupted over the case of 18-year-old Henry Nowak, who was handcuffed while dying after his killer falsely accused him of a racist attack. Starmer urged the public to heed the victim’s father’s call for restraint, as the controversy reignites debates over policing and racial bias.
Global oil inventories, which cushioned the initial shock of the Hormuz stoppage, are now drawing down at an accelerating pace. Trading firms like Trafigura, along with ExxonMobil and Chevron, warn that stockpiles of crude and refined products may hit critical lows within weeks. As Iran strikes Kuwait and the U.S. faces midterm political pressures, the risk of sustained high oil prices — and broader market turbulence — grows.
The tech-heavy index surged past the milestone on Tuesday, closing at 30,001.32, as renewed enthusiasm for artificial intelligence stocks and optimism over potential progress in Iran conflict talks lifted investor sentiment.
An 87-year-old man died after his Tesla Model Y, operating in Autopilot mode, veered off the road and submerged in a Tampa pond. The crash has reignited questions about Tesla’s driver-assistance technology as the company faces ongoing legal and regulatory scrutiny.
Kyiv’s expanded drone capabilities have helped counter the impact of reduced American military support, shifting the war’s trajectory in Ukraine’s favor.
SpaceX’s Starlink crosses 12 million active customers across 160+ countries, with subscriber growth outpacing earlier projections and third-generation satellite launches on the horizon.
The Canadian Food Inspection Agency imposed a temporary ban on Texas livestock after the flesh-eating parasite was detected in the U.S. for the first time in decades, sparking criticism from Texas officials who called the move an overreaction.
