Elon Musk’s SpaceX turned to the bond market for the first time, capitalizing on a post-IPO momentum that has vaulted its cash reserves past $100 billion as the rockets-to-AI group ramps up spending. Monday’s notes offering comes mere days after SpaceX’s IPO, signaling the company’s push to reshape its balance sheet by replacing short-term bridge … Read more
SpaceX’s long-term growth opportunity extends far beyond today’s artificial intelligence applications, with humanoid robots and fully autonomous vehicles likely to drive demand for computing power and communications on a massive scale, President and Chief Operating Officer Gwynne Shotwell said on Friday. Speaking exclusively to CNBC following the company’s market debut, Shotwell outlined how emerging AI-powered … Read more
The global rush into artificial intelligence (AI) investments continues to gather pace, even as investors debate whether current valuations can be sustained, according to Cameron Brandt, Director of Research at EPFR Global. Brandt said technology-focused funds saw another weekly inflow record, while large amounts of capital also moved into AI-linked markets such as South Korea … Read more
Saudi Arabia’s Public Investment Fund is considering taking an anchor stake of around $5 billion in Elon Musk’s SpaceX as the company eyes a whopping $2 trillion in valuation ahead of its planned IPO. The space exploration company is aiming to raise a record-breaking $75 billion in the listing scheduled for later this year, according … Read more
