A fleet of Tesla Cybertrucks sits outside the Starbase Build Site at SpaceX's South Texas testing facility on Feb. 6, 2026. Reginald Mathalone | Nurphoto | Getty Images SpaceX is expected to start trading on the Nasdaq in just over two weeks, but Morningstar analysts have warned that Elon Musk's tech behemoth is "significantly overvalued." The hotly-anticipated debut is expected to be the largest ...
A fleet of Tesla Cybertrucks sits outside the Starbase Build Site at SpaceX's South Texas testing facility on Feb. 6, 2026. Reginald Mathalone | Nurphoto | Getty Images SpaceX is expected to start trading on the Nasdaq in just over two weeks, but Morningstar analysts have warned that Elon Musk's tech behemoth is "significantly overvalued." The hotly-anticipated debut is expected to be the largest ever initial public offering, with SpaceX reportedly targeting a $75 billion fundraise and a valuation of $1.75 trillion. "We think the company has been significantly overvalued and investors will have opportunities to buy the stock at more attractive levels after the IPO," Morningstar analysts wrote in a note published Monday. The analysts see a wide range of possibilities for the potential profitability of SpaceX's xAI and find its "economic moat indeterminate." They view the unit as posing a "material threat of value destruction" to the company. As such, Morningstar's discounted cash flow valuation of SpaceX is $780 billion, which is roughly 48% below its private market valuation of $1.5 trillion. Morningstar said the upcoming IPO does not offer the best entry point for retail investors. However, long-term investors eager to participate in the company's potential future success will have more opportunities later down the line, with "a greater margin of safety" than at the time of flotation, the analysts added. "With a small initial float boosted by almost every investment bank on the planet, buoyant investor appetite for AI infrastructure bids, and an unprecedented path to inclusion in the Nasdaq 100 Index just 15 trading days after the IPO, we expect SpaceX's share price will likely survive separation and may even ascend, at least for a time," Morningstar said. SpaceX recorded a net loss in the latest quarter of $4.28 billion after losing $4.94 billion in 2025. Its Starlink arm generated $3.26 billion in revenue in the latest quarter, accounting for 69% of the total. It...
Energy and military sites targeted as guests gather for economic forum where Putin is due to speak on Friday Ukrainian drones hit energy and military sites in St Petersburg early on Wednesday hours before international guests gathered for the city’s flagship economic forum, in a blow to Vladimir Putin. Several long-range drones crashed into oil storage facilities after Russian air defences tried u...
Energy and military sites targeted as guests gather for economic forum where Putin is due to speak on Friday Ukrainian drones hit energy and military sites in St Petersburg early on Wednesday hours before international guests gathered for the city’s flagship economic forum, in a blow to Vladimir Putin. Several long-range drones crashed into oil storage facilities after Russian air defences tried unsuccessfully to shoot them down. There were loud explosions and black smoke rose high above the city from the blazing oil terminal. Continue reading...
Hungary’s bonds, the world’s best emerging-market performers in the past months, are set to rally further, according to asset manager PGIM Ltd . The firm, which has about $60 billion in EM fixed-income assets, sees further upside for Hungary from the planned injection of billions of euros in European Union aid, potential interest rate cuts and new Prime Minister Peter Magyar ’s plans to quickly jo...
Hungary’s bonds, the world’s best emerging-market performers in the past months, are set to rally further, according to asset manager PGIM Ltd . The firm, which has about $60 billion in EM fixed-income assets, sees further upside for Hungary from the planned injection of billions of euros in European Union aid, potential interest rate cuts and new Prime Minister Peter Magyar ’s plans to quickly join the euro currency area. Hungary is a go-to choice for investors and offers trading opportunities amid the noise from the Iran war, Magdalena Polan , head of emerging-market macro research at PGIM, said in an interview. The country’s local-currency bonds have returned more than 11% since Magyar defeated veteran leader Viktor Orban in April’s ballot, the most among EM peers. “Hungary is indeed one of the strongest stories right now,” Polan said. “We haven’t had a situation of such a deep political change in a country for a while, and one that would elicit such a strong sentiment response.” The forint has gained more than 13% against the euro in the past year, with yields plunging as Magyar’s victory approached and he swiftly started an overhaul after defeating Orban. Upside Triggers The currency and Hungary’s foreign debt “have probably priced in a lot” of the upside from Magyar’s policies, leaving more potential gains ahead for domestic debt securities, Polan said. Still, there may be more gains for the country’s external debt when the fresh EU aid actually starts flowing and credit rating firms begin to react, she added. While Magyar last week secured an agreement with the EU’s executive on the release of €16.4 billion ($19.1 billion) in funding, a further rally is on the cards if the cabinet delivers the required projects within the tight August deadline needed to tap the bloc’s post-Covid recovery program. “Once these disbursements really occur within the tight deadline, this would be an additional boost too for Hungarian hard-currency bonds,” Polan said. Hungary’s 10-...
The broader crypto market may be down in 2026, but that doesn't mean all cryptos are in the red this year. Far from it. In fact, many AI cryptos are surging as a result of continued investor excitement for all things AI . That's why I believe that the next cryptocurrency to go mainstream will come from this group of AI cryptos. The one on my radar right now is Bittensor (CRYPTO: TAO) . Here's why....
The broader crypto market may be down in 2026, but that doesn't mean all cryptos are in the red this year. Far from it. In fact, many AI cryptos are surging as a result of continued investor excitement for all things AI . That's why I believe that the next cryptocurrency to go mainstream will come from this group of AI cryptos. The one on my radar right now is Bittensor (CRYPTO: TAO) . Here's why. Bittensor , up 15% to start the year, currently has a market cap of $2.8 billion. That's good enough to rank it among the top 35 cryptocurrencies in the world. Continue reading
Ford Motor Company 's (NYSE: F) electric vehicle (EV) ambitions fell far short of its goals. The EV division bled cash, leading to billions in losses and cancellations. It was one of the most costly failures in the history of the American car market. While many investors lost interest in Ford, I'm bullish on the stock, and not because of any new car or truck model. Ford is doing something unusual,...
Ford Motor Company 's (NYSE: F) electric vehicle (EV) ambitions fell far short of its goals. The EV division bled cash, leading to billions in losses and cancellations. It was one of the most costly failures in the history of the American car market. While many investors lost interest in Ford, I'm bullish on the stock, and not because of any new car or truck model. Ford is doing something unusual, but quite innovative and opportunistic. The automaker decided that instead of scrapping its battery infrastructure entirely, it could be repurposed. Ford Energy was born from this idea and is a wholly owned subsidiary of Ford that will focus on battery energy storage systems for data centers, industrial customers, and utilities. That's right, Ford is entering the artificial intelligence (AI) infrastructure game, and it's in a fortuitous position to do so. Specifically, Ford will reoutfit its EV battery facility in Kentucky as part of this pivot, giving the factory new life rather than abandoning it. Power demand from data centers is a rapidly expanding opportunity. The battery storage market is projected to grow to $161 billion by 2034. Continue reading
Earnings are the principal driver behind the breathtaking rallies achieved by Korean and Taiwanese benchmark indices in 2026, and Goldman Sachs thinks the market is still underestimating the longevity of the chip cycle.
Earnings are the principal driver behind the breathtaking rallies achieved by Korean and Taiwanese benchmark indices in 2026, and Goldman Sachs thinks the market is still underestimating the longevity of the chip cycle.
South Korea’s ruling Democratic Party is on track to win a clear majority of key local offices in a nationwide vote, providing President Lee Jae Myung a boost as he enters his second year in office. The DP is projected to secure 11 of 16 major posts in elections held Wednesday for provincial governors and mayors, according to a joint exit poll by South Korea’s three broadcasters, KBS, MBC and SBS....
South Korea’s ruling Democratic Party is on track to win a clear majority of key local offices in a nationwide vote, providing President Lee Jae Myung a boost as he enters his second year in office. The DP is projected to secure 11 of 16 major posts in elections held Wednesday for provincial governors and mayors, according to a joint exit poll by South Korea’s three broadcasters, KBS, MBC and SBS. The party is also leading in the race for mayor of Seoul, a position currently held by the opposition People Power Party. It will likely take hours until the vote is confirmed. The PPP, which took 12 of then 17 posts in the last election four years ago, is so far estimated to win just one post. Still, the votes for four positions, including mayor of Busan, are too close to call, according to the poll. Lee’s DP has been leading in many of the opinion surveys in the run-up to the election. Expanding his party’s control of regional posts will leave Lee with fewer hurdles at the local level to push ahead with his policy goals. His party already holds a majority in the parliament. “Conservatives are no longer the mainstream in South Korea,” said Kim Joonil, a political analyst, pointing to the continuing disarray in the opposition conservative party. “The People Power Party camp is increasingly left with only its most hardline supporters, and the ideological territory they occupy is becoming ever narrower.” The election results will “demonstrate the reality that, if conservatives continue on their current path, they will have little choice but to remain a long-term minority party,” Kim said. According to the poll, the DP is expected to take control of the Seoul metropolitan area, not just the capital, including the mayoral and governor posts in the nearby Incheon and the Gyeonggi Province. Together, about half of the country’s population live in the area. Since taking office a year ago, Lee has been riding a wave of support that has consistently hovered around 60% in opinion po...