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SpaceX mulls $1.5tn IPO timed to ‘align with Musk’s birthday and the planets’

about 14 hours ago
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Elon Musk’s SpaceX is considering a flotation valuing the rocket company at $1.5tn (£1.1tn) that will reportedly be timed for early summer to coincide with a planetary alignment and the multibillionaire’s birthday.The world’s richest person is targeting a symbolic date of mid-June for the initial public offering, according to the Financial Times.This would be around the same time as Jupiter and Venus appear in close proximity to each other and shortly before Musk turns 55 on 28 June.

The FT also reported that SpaceX is seeking to raise $50bn – valuing it at $1.5tn – compared with previous reports that it was looking for $25bn at an $800bn valuation.Last week, it was reported that the rocket company was considering Bank of America, JP Morgan, Goldman Sachs and Morgan Stanley for leading roles in the share sale.Musk, whose $680bn fortune would be turbo-boosted by a SpaceX flotation, said last year the company’s annual revenue would be $15.5bn, with $1.

1bn of that coming from contracts with Nasa,The billionaire owns about 42% of SpaceX, as well as nearly 17% of the electric carmaker Tesla, where he is chief executive,He also owns more than three-quarters of the social media platform X,SpaceX generates revenues from deploying reusable rockets for missions such as launching satellites and restocking the International Space Station,It also operates the Starlink satellite high-speed internet service.

If the flotation goes ahead it would involve a bigger initial fundraising than the IPO of the oil company Saudi Aramco, which raised $29bn in 2019, although for a larger total valuation of $1,7tn,The chief financial officer of SpaceX, Bret Johnsen, has held talks and video conference calls with existing private investors since December to explore a mid-2026 IPO, the FT added,Musk has reportedly been swayed by the idea of a SpaceX float because of its growing valuation and the success of Starlink,Global financial markets are anticipating a year of significant US listings, with the artificial intelligence companies Anthropic and OpenAI also laying early groundwork for potential IPOs.

A rebound in the US equity capital market activity began in 2025 after three years of limited activity, partly as the result of volatility and geopolitical tensions.Space technology is a tightly held sector but is sought after by investors keen for exposure in light of rapid development prospects, analysts have said.Neil Wilson, an analyst at Saxo Capital Markets, said the mooted $1.5tn price tag was a “monster premium”.He added: “A valuation that big reflects not just a tech and AI premium but Elon Musk’s stardust and a frothy market, plus a heck of a lot of media narrative around this.

It is to some degree a kind of bet on the future space economy,”SpaceX has been approached for comment,
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US TikTok users: tell us how you feel about the app after the new US deal

TikTok users in the US appear to be deleting the app at higher rates after the announcement of a new deal securing its future in the country, according to reports. The short-form video app, which is owned by the Chinese company ByteDance, has faced years of uncertainty in the US amid concerns over data security and a possible ban.The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more

about 13 hours ago
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YouTube criticised after pulling out of UK TV audience measurement

YouTube has been criticised by the TV and advertising industry after suspending its participation in a key measurement system that compares viewership on the social media site with other streamers such as Netflix and TV broadcasters.YouTube’s owner, Google, has sent “cease and desist” letters to Barb, which publishes audience figures that are used as the UK industry standard, and Kantar Media, its research partner in the service.The decision came months after YouTube started to allow viewership of 200 of its channels on TV sets to be included in viewer measurements alongside broadcasters including the BBC, Sky, ITV and Channel 4.Google sent the legal letters blocking access to data to attribute viewing sessions to specific content creators citing a breach of its terms of service, according to the Financial Times, which first reported the story.“It does seem odd that YouTube has spent so much effort trying to convince advertisers that they are TV, and so gain the benefits of that reputation, but the moment there’s some TV-like scrutiny they go legal to avoid it,” said Lindsey Clay, the chief executive of Thinkbox, the TV body owned by ITV, Sky, Channel 4 and UKTV

about 15 hours ago
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Amazon tells workers it will cut 16,000 jobs worldwide in second big wave of layoffs

Amazon has told workers it is cutting 16,000 jobs around the world to streamline its operations, hours after sending out a message to staff about the layoffs apparently in error.It is the second big wave of job cuts at the US online retail company, and comes just three months after the company said it was slashing 14,000 roles. Amazon employs about 1.5 million workers worldwide.Most job cuts are expected to be in the US, although some roles in the UK may also be affected

about 18 hours ago
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Coinbase adverts banned in UK for suggesting crypto could ease cost of living crisis

A cryptocurrency company advised by George Osborne has been banned from showing a set of adverts that suggested using its services could be a solution to the cost of living crisis.Coinbase, which appointed the former Conservative chancellor to chair its global advisory council last year, has been told by the UK’s advertising watchdog that its adverts were “irresponsible” and “trivialised the risks of cryptocurrency”.The adverts from the US crypto exchange include a sarcastic two-minute video showing people singing “everything is just fine, everything is grand” as their home falls into a state of disrepair and suffers a power cut, while outside Britons cheerfully dance through streets littered with rats and piles of overflowing bin bags.As the ad progresses, a shopper faces rising prices for fish fingers in a supermarket, white-collar workers lose their jobs, a sewage pipe bursts and rubbish falls from the sky.The clip ends with large text saying: “If everything’s fine, don’t change anything”, before being replaced with the Coinbase logo

1 day ago
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Pornhub to stop new UK users accessing site from next week

Pornhub is to stop new users accessing its site in the UK from next week, citing the impact of mandatory age checks that were introduced last summer under the Online Safety Act.The pornography website, which is one of the most visited in the world, announced that from 2 February only users who have already verified their age will retain access through their existing accounts. The change also affects YouPorn and RedTube, explicit websites operated by the same Cyprus-based company, Aylo.The move comes after Pornhub said in October that its traffic was down 77% in the UK since July, when the age checks came in and began to be enforced by Ofcom, the communications regulator.In a statement, the company said that it would “no longer participate in the failed system” created as a result of the OSA

1 day ago
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How ICE is using facial recognition in Minnesota

Immigration enforcement agents across the US are increasingly relying on a new smartphone app with facial recognition technology.The app is named Mobile Fortify. Simply pointing a phone’s camera at their intended target and scanning the person’s face allows Mobile Fortify to pull data on an individual from multiple federal and state databases, some of which federal courts have deemed too inaccurate for arrest warrants.The US Department of Homeland Security has used Mobile Fortify to scan faces and fingerprints in the field more than 100,000 times, according to a lawsuit brought by Illinois and Chicago against the federal agency, earlier this month. That’s a drastic shift from immigration enforcement’s earlier use of facial recognition technology, which was otherwise limited largely to investigations and ports of entry and exit, legal experts say

1 day ago
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UK probably needs large new factory to meet target of 1.3m cars a year, say industry boss

about 6 hours ago
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Federal Reserve holds interest rates as Trump piles on pressure

about 10 hours ago
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Meta wows Wall Street despite spending billions on AI and facing social media addiction trial

about 6 hours ago
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Tesla discontinues Model X and S vehicles as Elon Musk pivots to robotics

about 7 hours ago
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ICE agents expected to be deployed for Super Bowl in California, officials say

about 11 hours ago
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Patrick Reed quits rebel LIV Golf tour in latest blow to Saudi-backed breakaway

about 13 hours ago