Technology shares fell sharply worldwide as investors questioned whether massive AI spending can support lofty valuations. Chipmakers, Alphabet and newly public SpaceX were among the names hit as the sell-off spread to Asian markets.
Posts tagged as “Elon Musk’”
Janeese Lewis George is poised to become Washington, D.C.’s next mayor after Kenyan McDuffie conceded the Democratic primary. Her campaign centered on childcare, education, housing and a more confrontational stance toward President Donald Trump.
SpaceX has agreed to buy Anysphere, the maker of AI coding assistant Cursor, for $60 billion in stock after its major Nasdaq debut. The deal expands Elon Musk’s company further into AI as it seeks to strengthen xAI and Grok against rivals including OpenAI and Anthropic.
SpaceX raised $75 billion in the largest IPO ever, with shares jumping in their Nasdaq debut and valuing the company above $2 trillion. The listing pushed Elon Musk’s paper net worth past $1 trillion, though analysts questioned the company’s valuation.
OpenAI said it has submitted a confidential S-1 filing, giving the ChatGPT maker the option to pursue an IPO. The move follows similar filings by Anthropic and SpaceX as major AI companies seek more capital for computing power and model development.
SpaceX is seeking to raise $75 billion in a record IPO that would value the company at roughly $1.75 trillion. The company proposed a $135 share price ahead of an expected Nasdaq debut next week, though the final price remains uncertain.
A Senate amendment requiring photo identification for voting failed to advance after a 53-47 vote, amid heated debate over the broader SAVE America Act, which seeks to impose stricter voter ID and citizenship verification measures. Democrats opposed the amendment, citing concerns about voter access and ballot secrecy, while Republicans argued it was necessary for election integrity and reflected public opinion favoring voter ID laws. Additional election-related controversies include fears of ICE presence at polling places and a lawsuit demanding transparency over a voter data sharing agreement involving Social Security Administration staff, highlighting ongoing tensions ahead of the 2026 midterms.
Linda Yaccarino, the current Chairman of Global Advertising and Partnerships at NBCUniversal, is reportedly in talks to become the new CEO of Twitter. If appointed, she would be the first female CEO of the company and the first executive from outside of the tech industry to lead the company. Yaccarino has a strong relationship with advertisers and marketing groups, which could help quell the ongoing concerns companies have with Twitter following CEO Elon Musk's takeover.