Elon Musk can still enchant investors with his vision of the future. Any questions about SpaceX ’s record-breaking initial public offering — be it about the valuation, the company’s trajectory or technical execution — were brushed aside as the retail marketing for the deal got under way. Smitten with the world’s richest man and lauding his character, many participants at an investor event hosted b...
Elon Musk can still enchant investors with his vision of the future. Any questions about SpaceX ’s record-breaking initial public offering — be it about the valuation, the company’s trajectory or technical execution — were brushed aside as the retail marketing for the deal got under way. Smitten with the world’s richest man and lauding his character, many participants at an investor event hosted by Jamie Dimon at JPMorgan Chase ’s headquarters chose to focus on the big picture. “It was an epic event,” said Sidd Pagidipati , founder and chairman of Ayon Capital . “This company I think will be the biggest, largest, most iconic company in human civilization.” Though Pagidipati said he’d limit exposure to 1% to start, he is an unwavering believer in SpaceX. “As long as Elon stays alive, I’m not skeptical,” he said. Bankers across Wall Street have been meeting with potential buyers to pitch the terms of the listing by the rocket, satellite and artificial intelligence company as it targets a historic debut. The Starbase, Texas-based company kicked off the marketing process for its $75 billion initial public offering, set to be the biggest of all time, at a fixed price of $135 per share. Some research analysts are telling would-be buyers that their models show 100 times revenue growth for SpaceX’s AI division by the end of the decade, to help justify the targeted valuation of $1.8 trillion. For the investors emerging from the JPMorgan event, those numbers sounded entirely justified. It’s “not an outrageous valuation for the company,” said Dylan Hixon, president of Arden Road Investments , who’s gained exposure to the company over the years through venture funds and Special Purpose Banks. He estimates SpaceX comprises around 20% of their entire portfolio, and says they will continue to invest after the IPO. “This is a generational company.” Several investors Bloomberg spoke to said they had not read the prospectus, which details ambitions like building a colony on Mars and ...
(Bloomberg) -- Elon Musk can still enchant investors with his vision of the future.Most Read from BloombergSpaceX, Other Mega IPOs Denied Fast Index Entry by S&PSaylor’s Bitcoin Machine Is Misfiring on Every CylinderGlazer Family Members Study Manchester United Stake Sale‘Sell Indonesia’ Sweeps Trading Desks as Prabowo Tightens GripRepublican-Led House Votes to Stop Iran War, Rebuking TrumpAny que...
(Bloomberg) -- Elon Musk can still enchant investors with his vision of the future.Most Read from BloombergSpaceX, Other Mega IPOs Denied Fast Index Entry by S&PSaylor’s Bitcoin Machine Is Misfiring on Every CylinderGlazer Family Members Study Manchester United Stake Sale‘Sell Indonesia’ Sweeps Trading Desks as Prabowo Tightens GripRepublican-Led House Votes to Stop Iran War, Rebuking TrumpAny questions about SpaceX’s record-breaking initial public offering — be it about the valuation, the compa
(RTTNews) - The United States Supreme Court has ruled in favor of Hikma Pharmaceuticals PLC (HIK.L HKMPY) and its wholly owned subsidiary Hikma Pharmaceuticals USA Inc., effectively ending Amarin's patent infringement litigation against the company. This decision marks the conclu
(RTTNews) - The United States Supreme Court has ruled in favor of Hikma Pharmaceuticals PLC (HIK.L HKMPY) and its wholly owned subsidiary Hikma Pharmaceuticals USA Inc., effectively ending Amarin's patent infringement litigation against the company. This decision marks the conclu
【有線新聞】巴西揭發一宗離奇騙案。一名37歲女子涉嫌長期假扮12歲受虐自閉症兒童，行騙足跡遍及全國5個州份，至少7次成功得手。她除了成功誘騙善心夫婦供養長達14個月外，更曾狠心將至少100支針刺入體內，導致體內藏有超過200支針頭，以此偽造受虐經歷以博取同情。 化名潛入教會求助 涉案女子為37歲的奧利維拉（Amanda Maria Souza de Oliveira）。她早前使用假名「Gabrie...
Greggory DiSalvo Senior U.S. officials have held preliminary discussions with major AI companies about the possibility of the federal government acquiring equity stakes in AI firms, according to a report by NOTUS that cites three people familiar with the matter. Sam Altman, CEO of OpenAI ( OPENAI ), has discussed with the Trump administration a proposal for AI companies to voluntarily cede equity ...
Greggory DiSalvo Senior U.S. officials have held preliminary discussions with major AI companies about the possibility of the federal government acquiring equity stakes in AI firms, according to a report by NOTUS that cites three people familiar with the matter. Sam Altman, CEO of OpenAI ( OPENAI ), has discussed with the Trump administration a proposal for AI companies to voluntarily cede equity stakes to the U.S. government, with proceeds potentially funding public benefits such as dividend payments to American households. These talks emerge as OpenAI ( OPENAI ) and Anthropic ( ANTHRO ) prepare for potential IPOs and seek ways to address public concerns about AI's economic impact. Anthropic ( ANTHRO ), however, is not having conversations with the administration about providing equity to the government, the source added . AI profit sharing with the public could ease concerns about AI's economic impact and ensure its benefits extend beyond private investors. However, government ownership could create conflicts of interest by making the U.S. both a regulator and shareholder while arguably increasing the incentives for a federal bailout, the report added. The legal framework for transferring equity to the government remains unclear, and sources cautioned that no agreement may ultimately materialize. The Trump administration has previously taken stakes in several U.S. companies, including a deal involving Intel ( INTC ), IBM ( IBM ), and other names like D-Wave Quantum ( QBTS ), Rigetti Computing ( RGTI ), and Infleqtion ( INFQ ). After the Intel ( INTC ) deal was reached, Trump said publicly, "I hope I’m going to have many more cases like it." Dear readers, We recognize that politics often intersects with the financial news of the day, so we invite you to click here to join the separate political discussion. More on AI companies Intel: Getting Better, But Not Quite There Yet Anthropic: A Strong Buy And Not As Expensive As Many Think 5 Things To Consider Ahead Of Anth...
Bear believed to have unlatched and opened a locked window, and was seen turning on and drinking from a tap Police and hunters in Fukushima, Japan were searching for an “extremely intelligent” bear which, after attacking four people, apparently evaded capture by unlocking a window from the inside. The one-metre-long bear was seen drinking from a tap and showed no reaction when struck by a tranquil...
Bear believed to have unlatched and opened a locked window, and was seen turning on and drinking from a tap Police and hunters in Fukushima, Japan were searching for an “extremely intelligent” bear which, after attacking four people, apparently evaded capture by unlocking a window from the inside. The one-metre-long bear was seen drinking from a tap and showed no reaction when struck by a tranquilliser dart. On Wednesday, the bear was filmed on CCTV chasing and then mauling an employee in a company car park before being chased off by a quick-thinking passerby who drove their car at the animal. Unfortunately, the animal escaped by running inside the office building where it attacked another man, before taking flight again. Continue reading...
The threat by the US to impose additional tariffs on imports from India over forced labour supply-chain concerns is a “pressure” tactic deployed by Washington to drive a harder bargain in its trade talks with New Delhi, according to analysts. Following a Section 301 unfair trade practices investigation, the Trump administration proposed that products from India, China, Japan, South Korea, Brazil a...
The threat by the US to impose additional tariffs on imports from India over forced labour supply-chain concerns is a “pressure” tactic deployed by Washington to drive a harder bargain in its trade talks with New Delhi, according to analysts. Following a Section 301 unfair trade practices investigation, the Trump administration proposed that products from India, China, Japan, South Korea, Brazil and Switzerland would be subject to a 12.5 per cent levy, while a 10 per cent rate would apply to...