Elon Musk’s SpaceX announced Monday it will acquire wireless spectrum licenses from EchoStar for approximately $17 billion, marking a pivotal move to accelerate the rollout of its Starlink direct-to-cell satellite network and expand its footprint in the competitive 5G connectivity space. The deal includes a strategic partnership enabling Boost Mobile—EchoStar’s prepaid wireless brand—to tap into…
Tag: Elon Musk
U.S. stocks mixed as tech weighs on market; Dow hits 5-month high
Tech slump offsets Dow gains as Trump-Musk feud, tariff worries rattle investors U.S. stocks were mixed in afternoon trading Tuesday, with the Dow Jones Industrial Average climbing to a five-month high while tech stocks dragged on the broader market. The S&P 500 edged up 0.1%, while the Dow gained 452 points, or 1%, to 44,500—its highest level since early…
Tesla sales rebound in Australia amid global challenges
Tesla reported a sales rebound in Australia in May, with deliveries reaching their highest level in nearly 12 months. The automaker sold 3,897 vehicles, driven by record sales of its updated Model Y SUV, which surged 122.5% year over year. However, Model 3 sales dropped significantly. Despite the May rebound, Tesla’s year-to-date sales in Australia…
Tesla’s Australian sales surge as Model Y demand soars
Tesla saw a rebound in Australian sales in May, hitting their highest level in nearly a year despite declines in the U.S. and Europe. The EV maker reported 3,897 deliveries, largely driven by strong demand for its revamped Model Y compact SUV, which surged 122.5% year over year. In contrast, sales of the Model 3…
Tesla Roundup: Crypto Endorsements, Political Backlash, and Charging Innovations
Elon Musk’s Crypto Endorsement and Political Moves Elon Musk, the Tesla billionaire, has recently endorsed bitcoin and backed Howard Lutnick for Trump’s Treasury secretary. This move comes amid Musk’s warnings about U.S. government spending and potential financial emergencies. His endorsement of Donald Trump has sparked anger among some Tesla owners, leading them to buy anti-Musk…
Tesla CEO Elon Musk loses $55 billion pay package after court ruling
Tesla shareholders have won a landmark legal victory against the company’s CEO Elon Musk and its board of directors, who had granted Musk an unprecedented $55 billion pay package in 2018. The Delaware Court of Chancery has ruled that the pay package was invalid and must be cancelled, saving Tesla stockholders from massive dilution. The…
Who are the world’s richest men in 2023?
According to Forbes’ 37th annual billionaires list, released on April 4, 2023, the world’s richest man in 2023 is Bernard Arnault, the head of luxury goods giant LVMH, with an estimated fortune of $211 billion. He is followed by Elon Musk, the founder of Tesla and SpaceX, with $180 billion. The third spot goes to…
xAI unveils Grok, a witty and rebellious AI chatbot inspired by Hitchhiker’s Guide to the Galaxy
xAI, the artificial intelligence company founded by Elon Musk, has finally revealed its first product to the world: a large language model (LLM) called Grok, named after the slang term that means “understanding”, according to VentureBeat. Grok is a chatbot that can answer almost any question, with a bit of wit and sarcasm, and even…
Elon Musk unveils xAI, his new AI startup with a curious mission
Elon Musk, the billionaire founder of Tesla, SpaceX and Twitter, revealed his latest venture on Wednesday: xAI, an artificial intelligence startup that aims to create a “maximally curious” AI that tries to understand the true nature of the universe. Musk, who has been a vocal critic of AI’s potential dangers and the need for regulation,…
Musk’s Neuralink gets FDA approval for brain implant trial
Neuralink, the neurotech startup co-founded by Elon Musk, has received approval from the Food and Drug Administration to conduct its first in-human clinical study of its brain implant device. The device, called the Link, is designed to help patients with severe paralysis control external technologies using only neural signals. This means patients with severe degenerative…
Elon Musk to step down as Twitter CEO, successor to join in six weeks
Elon Musk, the owner of Twitter and the founder of Tesla and SpaceX, has announced that he will step down as the CEO of the social media platform and hand over the reins to a new leader. Musk tweeted on Thursday that he has hired a new CEO for Twitter, but did not reveal the…
Elon Musk’s The Boring Company raises $675mn Series C funding
NEW YORK: Elon Musk founded The Boring Company announced Series C funding round of $675 million, led by Vy Capital and Sequoia Capital, with participation from Valor Equity Partners, Founders Fund, 8VC, Craft Ventures, and DFJ Growth. The financing now values The Boring Company at $5.675 billion. The funds from the round will be used…