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Skeptics Question Whether SpaceX Is Worth $1.77 Trillion

11 June 2026 at 19:50
Elon Musk’s rocket company is spending big and losing money. That has raised questions about whether it can justify its valuation for its blockbuster initial public offering.

© John Raoux/Associated Press

SpaceX has set an initial public offering price of $135 a share, which would value it at $1.77 trillion. Some investors are skeptical that the valuation is justified.

The SpaceX Shareholder at the Helm of a Multibillion-Dollar Payout

11 June 2026 at 18:02
Justin Fishner-Wolfson, long a minor figure in Elon Musk’s orbit, is at the helm of a multibillion-dollar payout

© Aaron Wojack for The New York Times

Justin Fishner-Wolfson’s firm now owns more than 1 percent of SpaceX, worth roughly $20 billion at the company’s expected $1.77 trillion valuation at its listing price.

Musk’s xAI fired engineer for raising concerns about Grok chatbot, lawsuit claims

Former xAI engineer Devin Kim alleges he was illegally fired for trying to implement safety mechanisms for the chatbot

A former engineer at Elon Musk’s xAI who now heads a thinktank focused on AI safety filed a lawsuit claiming he was fired from the SpaceX subsidiary for raising concerns about the risks artificial intelligence poses to humanity.

Devin Kim claims in the lawsuit filed in California state court on Tuesday that his efforts to place guardrails on the development of the chatbot Grok made him a target for company leadership.

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© Photograph: Harun Ozalp/Anadolu via Getty Images

© Photograph: Harun Ozalp/Anadolu via Getty Images

© Photograph: Harun Ozalp/Anadolu via Getty Images

Trump raises specter of fraud with baseless accusations about California elections

11 June 2026 at 11:00

President Donald Trump was displeased with the outcome of the California primary elections. Convinced his intervention was decisive, he insists that without the pressure he exerted in recent days on behalf of the Republican candidate for governor, Steve Hilton, he would not have advanced to the November runoff, where he will face the candidate backed by the Democratic establishment, Xavier Becerra. “But the only reason they approved Steve Hilton, it was going to be two weeks, they said. And then they approved it that night because the heat was on them because they’re cheating dogs,” the president said Wednesday from the Oval Office.

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© AARON SCHWARTZ / POOL (EFE)

Donald Trump in the Oval Office on Wednesday.

How the far right stirs up protests against immigration in Britain

11 June 2026 at 10:13

It was extreme even for a figure like Nigel Farage. Hours after the police footage of officers handcuffing Henry Nowak on the fatal night of December 3 in Southampton became public and spread like wildfire on social media, the Reform UK leader called on citizens to respond with “pure, cold rage.” The young Nowak had been fatally stabbed by a man of Sikh faith and Asian descent, who later falsely accused him of a racist attack. “I can’t breathe,” the victim shouted up to nine times, to the officers’ disbelief as they moved against him. His cry of agony echoed the words George Floyd uttered on the streets of Minneapolis, which sparked the Black Lives Matter movement.

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© Christopher Furlong (Getty Images)

Protest in London called by far-right leader Tommy Robinson.

Trump administration land gift to SpaceX would hurt Texas habitat, lawsuit says

10 June 2026 at 23:12

Environmental groups say exchange between US government and SpaceX would worsen ecological risks

Environmental groups on Wednesday sued in an attempt to stop the Trump administration from giving SpaceX more than 700 acres (280 hectares) of wildlife refuge in Texas, claiming it would worsen ecological risks to a Gulf coast region already transformed by billionaire Elon Musk’s rocket operations.

The US Fish and Wildlife Service this month approved moving forward with the deal with SpaceX, which would surrender 683 acres (276 hectares) the company owns in exchange for federal land in the Lower Rio Grande Valley national wildlife refuge. The 103,000-acre (41,700-hectare) refuge spans four counties along the Texas border and is home to animal habitats and historical landmarks.

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© Photograph: Eric Gay/AP

© Photograph: Eric Gay/AP

© Photograph: Eric Gay/AP

Elon Musk’s X not facing action from UK government over posts inciting violence in Belfast

Any official reprimand will come from regulator Ofcom, but not for at least two months

Elon Musk’s X will face no action to remove a mass of posts inciting violence in Northern Ireland for at least two months, despite widespread condemnation of the platform and its billionaire owner.

Concern over the role social media played in spreading disturbing images and fuelling anger continued to grow on Wednesday as police and community leaders urged calm.

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© Photograph: David Swanson/Reuters

© Photograph: David Swanson/Reuters

© Photograph: David Swanson/Reuters

BCE entre a espada e a parede e a prestação da discórdia

10 June 2026 at 18:05
A reunião do BCE deve trazer uma subida das taxas. O BCE está entre a inflação e a economia. Em Portugal, discute-se a prestação social única. E há uma operação milionária em Wall Street.

Investors Feed A.I. Firms’ Voracious Appetite for New Money

In the race to dominate the artificial intelligence industry, companies like SpaceX and Alphabet are borrowing cash and raising equity from investors at the fastest pace in decades.

© Joe Raedle/Getty Images

The amount of cash needed for A.I. development is thought to be so enormous that already cash-rich companies are looking for more money.

Violence erupts against immigrants in Belfast following attempted beheading: ‘Burning families out of their homes is nothing less than disgusting cowardice’

10 June 2026 at 15:28

Political and religious leaders in Northern Ireland saw early Wednesday morning — with the embers of a long night of violence in Belfast and other parts of the region still smoldering — that their calls for calm had fallen on deaf ears. Cars, buses, phone booths, and trash cans set ablaze. Homes where immigrants — or simply people from ethnic minorities — were believed to live, completely engulfed in flames after violent groups targeted them as places that needed to be “liberated.”

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© Peter Morrison (AP Photo/Peter Morrison)

Protesters in Belfast following a stabbing incident, June 9.

SpaceX IPO: What You Need to Know

10 June 2026 at 10:02
As the company prepares for its stock market debut, here’s what the initial public offering means for banks, Elon Musk and everyday investors.

© Gabriel V. Cárdenas for The New York Times

Shares of SpaceX are expected to start trading on Friday.

Compute becomes lifeblood, constraint of AI boom

10 June 2026 at 11:00
Computing power has become the lifeblood — and a key limiting factor — of the race to develop AI, as the push to integrate the technology into daily life clashes with the finite supply of one of its most crucial inputs. Often referred to simply as “compute,” the processing power that forms the foundation of…

Compute becomes lifeblood, constraint of AI boom

10 June 2026 at 11:00
Computing power has become the lifeblood — and a key limiting factor — of the race to develop AI, as the push to integrate the technology into daily life clashes with the finite supply of one of its most crucial inputs. Often referred to simply as “compute,” the processing power that forms the foundation of…

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