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Elon Musk is assembling a group of investors and tech entrepreneurs, characterized as budget-slashing billionaires, who aim to significantly reduce the size of the federal government. This coalition is poised to influence major policy decisions and reshape government spending priorities.
SpaceX has received conditional approval from US regulators to enhance T-Mobile's cellular network using its Starlink satellites. This initiative aims to extend mobile coverage to consumer phones by integrating satellite service with traditional mobile networks.
Neuralink has initiated its "CONVOY Study" to determine if its brain-computer interface (BCI) can enable patients to control a robotic arm, following the "PRIME Study" which assessed safety and utility. Two human patients have already been implanted, and recruitment for a new trial in Canada is underway for those with quadriplegia. The company continues to face competition in the BCI field, with no FDA-approved devices for commercialization yet.
Black Forest Labs, a German AI startup aiding Elon Musk's Grok in image production, is in discussions to secure up to $200 million in funding, led by Andreessen Horowitz. This investment could elevate the company's valuation to over $1 billion, though final decisions are pending.
In November 2024, Western Switzerland showcased significant advancements, including the award-winning Jimmy Jackson campaign promoting the region as a business hub. RealWear's acquisition of Almer Technologies aims to enhance AR solutions for frontline workers, while Bracco's new Geneva facility boosts ultrasound imaging capabilities. Additionally, Switzerland ranked second in the IMD World Digital Competitiveness Ranking, reflecting its commitment to digital innovation.
Tesla's recent stock surge, rising about 40% since the U.S. election, is largely sentiment-driven, according to UBS analysts. They warn that the automotive business now accounts for only 12% of Tesla's market value, with a price-to-earnings ratio exceeding 100 times, raising concerns about sustainability and future profits. Investors are urged to have strong conviction to support Tesla's ambitious targets, which far exceed current market expectations.
16:13 26.11.2024
In 2024, the tech landscape saw significant upheaval, with X (formerly Twitter) and Amazon facing major setbacks due to mismanagement and employee dissatisfaction. Meanwhile, AI tools and platforms thrived, with NVIDIA leading the charge in the AI sector, while Bluesky emerged as a popular alternative to X. The year also highlighted the rise of Arm-based chips and the successful collaboration of major tech companies through the Matter Protocol, enhancing smart home functionality.
The space industry is witnessing a surge in private investment, driven by companies like SpaceX, which is reshaping the market with innovative technologies and growing demand. Despite challenges in profitability and regulation, the sector is evolving, with 60% of venture-backed companies nearing profitability, indicating a potential for significant growth and M&A activity. As competition intensifies, particularly from China, the U.S. government is expected to increase support for private space ventures, further transforming the landscape.
California Governor Gavin Newsom may exclude Tesla from a revived EV subsidy program if the federal $7,500 tax credit is eliminated, partly due to Elon Musk's criticisms of the state and his relocation to Texas. While Tesla's Fremont factory supports local jobs, the state could aim to encourage new EV manufacturers or set limits on subsidies for established companies. The decision could hinge on various factors, including sales performance and company policies, but the exclusion of Tesla could also frustrate consumers who prefer its vehicles.
Stocks reached new highs on Monday, with 99 S&P 500 stocks hitting peaks and the Russell 2000 up 11% in November. Key reports on home prices and new home sales are expected Tuesday, while software stocks, led by AppLovin and Palantir, show significant gains since the election. Retailers like Burlington and Dick’s Sporting Goods are set to report earnings, with mixed performance noted in the sector.
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