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The Latest Breaking News from SpaceX

Elon Musk Loses Brief “Trillionaire” Status as Tech Sell-Off Hits SpaceX and Tesla Shares

Elon Musk has reportedly slipped below the symbolic $1 trillion net worth mark after a sharp downturn in technology stocks, particularly affecting Tesla and SpaceX, according to Bloomberg’s Billionaires Index. His estimated wealth has fallen to around $957 billion following recent market volatility.

Whats Hot

Elon Musk is no longer a trillionaire as fortune drops after SpaceX sell-off

Continued weakness in SpaceX shares could threaten Musk’s wealth

The Independent UK

As mega-funds grab 72% of all capital raised, the gap between VC's haves and have-nots keeps widening

PitchBook's midyear data shows an increasingly skewed VC ecosystem.

Fortune

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Why SpaceX Stock Is Crashing: Thin Float and Lockup Fears Explained

SpaceX shares are falling due to thin float and upcoming lockup expirations, creating volatility for retail investors. Learn about the August sell-off and its potential impact.

International Business Times UK

Reid Hoffman says SpaceX ‘isn’t an AI company,’ xAI is ‘a complete train wreck’—and there’s room for both OpenAI and Anthropic

The LinkedIn cofounder and investor in both Anthropic and OpenAI offers his most pointed public assessment yet of Elon Musk’s AI ambitions.

Fortune

Tesla cofounder JB Straubel’s failed pitch to Elon Musk led to a $1.3 trillion success story

JB Straubel was the architect of Tesla’s core tech, but his first pitch to Elon Musk fell flat.

Fortune

Musk loses trillionaire status as SpaceX shares ‘come down to earth with a bump’ – as it happened

Rolling coverage of the latest economic and financial news, as drops in SpaceX and Tesla’s shares eat into Musk’s wealth

The Guardian - UK

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Why Are Nvidia, AMD, and Micron Stocks Falling? AI Valuation Fears and Fed Jitters Explained

Nvidia, AMD, and Micron led a tech sector sell-off as investors reacted to Federal Reserve signals on inflation, raising concerns about prolonged high interest rates and AI stock valuations.

International Business Times UK

Israel smuggled Starlink systems into Iran, former PM says

Former Israeli Prime Minister Naftali Bennett revealed he initiated smuggling Starlink receivers into Iran to aid anti-government protesters, aiming to ensure internet continuity. He criticized the current Israeli government for halting the plan, stating it left protesters without crucial infrastructure during unrest. Bennett urged regional nations to unite against Iran's…

The Economic Times

SpaceX shares eke out a gain to snap three day losing streak

SpaceX shares rebounded Tuesday, halting a three-day slump that saw over $600 billion vanish from its valuation. The stock climbed significantly after a brief dip below its IPO price. Meanwhile, the company is experiencing immense investor interest, attracting approximately $89 billion in demand for its inaugural US bond sale, signaling…

The Economic Times

What is Starfall? A look at SpaceX's mysterious new return capsule

SpaceX just launched its Starfall return capsule for the first time. What does the company plan to do with the new vehicle?

Space

Cathie Wood Just Doubled Down on SpaceX. Instead of Panicking About the Sell-Off, She Is Betting Big on the Long-Term Potential of SPCX Stock.

Cathie Wood added another 210,000 SpaceX shares after a sharp post-IPO sell-off, signaling continued confidence despite the stock's recent volatility.

Barchart

Nvidia Is No Longer the Ultimate AI Play, But NVDA Stock Is a Buy Anyways

While Nvidia might have lost its position as the pre-eminent AI play, the stock looks like a buy on tepid valuations.

Barchart

A $6.3 Billion Reason to Buy SpaceX Stock Here

A new $6.3 billion AI infrastructure deal is giving investors another reason to pay attention to SpaceX stock.

Barchart

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The Economic Times

US Stock: S&P, Nasdaq end lower on semiconductor selloff as AI spending concerns mount

Indian markets mirrored global trends as major indices, including the Nasdaq and S&P 500, closed at over a week's low on Tuesday. Semiconductor stocks experienced significant declines, fueled by investor concerns over debt-fueled AI spending and anticipation of a more hawkish stance from the U.S. Federal Reserve. Traders are now…

Barchart

SpaceX Is Eyeing a $20 Billion Bond Sale After Its Historic IPO. What That Means for SPCX Stock Investors.

SpaceX has barely settled into life as a public company, yet it’s already eyeing a $20 billion bond sale. What could that mean for SPCX investors?

International Business Times

Magnificent 7 Selloff Is a Buying Opportunity as AI Spending Boom Continues, Strategist Says

The Magnificent 7, which consists of Apple, Microsoft, Nvidia, Amazon, Meta, Alphabet and Tesla, remains the dominant force in U.S. equities. A strategist said the recent selloff is a new opportunity to buy them.

The Independent UK

AI stock slump raises the question if investors are just taking profits or getting very nervous

Tech companies are spending big on AI, but investors are getting nervous

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Fortune

Cursor’s 25-year-old CEO turned a Discord server into a talent pipeline to build his $60 billion SpaceX-backed AI company

Cursor CEO Michael Truell hired many of his employees straight out of a Discord server.

Space

NASA wants to dump the ISS in the sea. Experts say the plan 'raises serious concerns for ocean health'

NASA's plan to deorbit the International Space Station in coming years has stirred up a wave of reaction by a leading ocean conservation organization.

International Business Times

Global M&A Deal Value Set For Strongest Year Since 2021 As AI Drives Megadeals

Despite geopolitical tensions and economic uncertainty, large corporate takeovers continued to gather pace across the technology sector, according to a new report.

International Business Times UK

$350 Billion Wipeout: Trillionaire Elon Musk Breaks World Record for Biggest Wealth Loss Ever as SpaceX Slumps

Elon Musk has lost an estimated $350bn in a week after a steep slide in SpaceX shares slashed his paper fortune from about $1.45tn to just under $1.1tn.

The Economic Times

US Stocks Today | Chip stocks plunge, but bargain-hunters stem losses in other tech names

US chip stocks experienced a significant tumble, impacting the broader market and wiping out billions in value. While tech giants like Nvidia and Tesla saw declines, bargain hunters emerged, offering some support. This selloff, attributed to concentrated trading and shifting sentiment rather than AI fundamentals, highlights the volatility in the…

The Economic Times

US Stocks | AI chip slump extends on Wall St as SanDisk sinks 12%, Micron drops 9% and AMD falls 5%

Wall Street witnessed a significant downturn in semiconductor stocks Tuesday, impacting major AI beneficiaries. Memory chipmakers like SanDisk and Micron saw substantial drops as investors re-evaluated high valuations amid escalating AI spending. This correction, also affecting broader tech, signals growing caution about the speed of returns from massive AI investments,…

Barchart

Coinbase Is Offering Pre-IPO Perpetual Futures on OpenAI and Anthropic. That’s Better News for COIN Stock Than It Is for You.

The gap between digital assets and traditional public company stocks has been narrowing, and recently, that trend has been accelerating. On Monday, Coinbase (COIN) officially launched pre-IPO perpetual futures contracts tied to artificial intelligence heavyweights OpenAI and Anthropic, following its earlier rollout of a similar vehicle for the recently public…

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