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After SpaceX’s huge IPO, Americans’ financial future will be bound to AI

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They’re about to get more AI rammed down their throats, stuck into their pension plans and investment portfoliosAmericans are growing worried about what artificial intelligence portends for their futures. Eight in 10 Americans report concern over AI, compared with a third who report being excited, according to a recent Quinnipiac poll. More than half think […]

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SpaceX to list on US stock market at historic $1.77tn valuation

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IPO for Elon Musk’s company comes in what is predicted to be a banner year for public offerings of AI companiesSpaceX will become publicly traded on Friday after nearly two and a half decades as a private company. Executives are slated to ring the bell on Wall Street with the rocket ship maker’s historic stock

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Stock markets fall as concerns persist over tech firms at heart of AI boom

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Falls follow sharp sell-off of US tech stock last week while oil prices jump after Iran and Israel exchange strikesBusiness live – latest updatesGlobal stock markets have fallen amid concern about the prospects for tech stocks while oil prices have risen as attacks in the Middle East stoked fears that a fragile truce in the

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Billions spent and hypothetical returns: the AI boom explained with six charts

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Expenditure is growing fast and consumer take-up accelerating. But alarm bells are sounding The race is very much on. Elon Musk’s SpaceX, which makes AI models as well as space rockets, announced last week it is seeking a $1.77tn (£1.31tn) valuation on the US stock market while Anthropic, the startup behind the Claude chatbot, said

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SpaceX will get off the ground – but a descent from a silly valuation must follow | Nils Pratley

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Investors will buy into the market-leading tech and cult of Musk despite a price that is defying gravity“Our mission,” says the opening sentence of SpaceX’s listing document with a straight face, “is to build the systems and technologies necessary to make life multi-planetary, to understand the true nature of the universe, and to extend the

SpaceX will get off the ground – but a descent from a silly valuation must follow | Nils Pratley Read More »

SpaceX targets biggest ever stock market debut, putting Musk on course to be trillionaire

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IPO could raise up to $75bn, giving SpaceX market value of $1.77tn as it sets up Musk for extraordinary wealthSpace X is seeking to raise about $75bn (£55bn) through its imminent stock market listing, , the company has said, which would make it the largest initial public offering ever.If the stock market launch – primed

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As the tech mega-IPO race hots up, has OpenAI missed its moment?

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With rivals racing to market to raise ‘eye-popping sums’, the spotlight is now on the AI sector’s one-time ‘poster child’A year is a long time in AI. Just 12 months ago, Sam Altman was predicting his company OpenAI would build a super intelligence and fundamentally remake society. Now the boss of the ChatGPT developer is

As the tech mega-IPO race hots up, has OpenAI missed its moment? Read More »

Chip, chip … boom? South Korea tech makers join the trillion-dollar club but some fear a short-circuit looms

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South Korea’s Kospi stock market has hit record highs thanks to AI, but experts urge caution over boom-bust cycles and a heavy reliance on two chipmakersSouth Korea has leapfrogged India to become the world’s sixth largest share market, leaving equity markets in the UK, Germany and France trailing in its dust. But despite the runaway

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Alphabet to raise $80bn from share sales to fund AI spending splurge – business live

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Rolling coverage of the latest economic and financial newsGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.The economics of the AI boom are back in focus today, after Google’s parent company Alphabet said it plans to raise up to $80bn in equity to fund its vast AI

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Oil at three-week high as US-Iran peace talks stall; China blocks Meta’s takeover of AI agent Manus – business live

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Rolling coverage of the latest economic and financial newsShares in athletic apparel and footwear company Adidas have jumped by almost 1.75% in early trading after three of its athletes shone at the London Marathon yesterday.Sabastian Sawe and Yomif Kejelcha both smashed the two-hour barrier in the men’s marathon race, and Tigist Assefa set a women-only

Oil at three-week high as US-Iran peace talks stall; China blocks Meta’s takeover of AI agent Manus – business live Read More »