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Elon Musk's day-trading followers are actively investing in high-risk assets, including Dogecoin and the closed-end fund Destiny Tech100 Inc. (DXYZ), which has surged 280% following Donald Trump's election victory. The fund, which includes holdings in SpaceX and OpenAI, experienced significant volatility, with shares rising 38% after a 64% jump. Meanwhile, Dogecoin saw a nearly 20% increase amid a broader crypto rally.
United Launch Alliance (ULA) is advancing its Vulcan rocket's reusability through the Sensible Modular Autonomous Return Technology (SMART), focusing on recovering the engine section. Meanwhile, European companies like PLD Space are developing reusable launch vehicles, aiming for profitability and sustainability, with Miura 5 set to launch in 2025. The industry is witnessing varied approaches to reusability, with some companies prioritizing it while others remain skeptical about its necessity for survival.
NASA has extended cargo contracts with Northrop Grumman, Sierra Space, and SpaceX through 2030 to ensure continued resupply services to the International Space Station, which is set to retire that year. The agency received proposals from three other companies but found none met its requirements. The CRS-2 contracts, valued at $14 billion, have seen $6.9 billion obligated to date.
Elon Musk's vision for human transportation to Mars is set to gain prominence under President-elect Donald Trump's administration, according to sources. This shift is expected to lead to significant changes in NASA's moon program and provide a boost to Musk's SpaceX initiatives.
Elon Musk has publicly criticized German Chancellor Olaf Scholz, calling him a "fool" on the social media platform X, in response to the collapse of Germany's "socialist government." Musk, a prominent supporter of Donald Trump, did not elaborate on his remarks but confirmed they were directed at Scholz. His comments come as he continues to influence American politics while Tesla maintains significant investments in Germany.
Donald Trump’s victory in the 2024 election is poised to benefit Elon Musk and his companies, particularly xAI, which may gain favor as a government contractor for AI services. The anticipated repeal of Biden's AI Executive Order could accelerate the development of AI models, enhancing competitiveness in the sector.Musk's other ventures, including Tesla, SpaceX, Starlink, and Neuralink, are also expected to thrive under a Trump administration, with potential reductions in regulatory burdens and expedited trials for new technologies.
Globalstar's stock surged over 30% following Apple's announcement of a $1.7 billion investment to enhance satellite communications for iPhones. The deal includes a 20% equity stake for Apple and $1.1 billion in cash prepayments, alongside $232 million to help Globalstar refinance debt. This partnership aims to improve emergency services and basic texting capabilities via Globalstar's L-band satellite network, while Apple will retain 85% of the network's capacity for its use.
Apple has committed $1.5 billion to Globalstar to enhance iPhone satellite services, including $1.1 billion in cash and a 20% equity stake. This investment will help Globalstar expand its satellite network and infrastructure, as it continues to allocate 85% of its capacity to Apple. Following the announcement, Globalstar's stock surged by 36%.
The U.S. Space Force has opened bidding for the National Security Space Launch (NSSL) Phase 3 Lane 1 program, allowing new space launch providers to compete for a share of a projected $5.6 billion contract over five years. Proposals are due by December 13, with awards expected by Spring 2025, and the program aims to conduct at least 30 missions from 2025 to 2029. Emerging contenders like Rocket Lab and Relativity Space are positioning themselves for potential contracts, enhancing competition and ensuring reliable access to space for national security.
Elon Musk and hedge fund manager John Paulson advocate for significant U.S. budget cuts, proposing a $2 trillion reduction if Trump is re-elected. However, historical precedents of "shock therapy" in other nations show that such drastic measures often lead to economic turmoil and social unrest. A more measured approach, like the Simpson-Bowles plan, could provide thoughtful solutions to address the nation's budget deficits and entitlement program funding.
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musk investment frenzy drives speculative market surge after trump's election
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