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Tech firm announces two-part fundraising after Elon Musk warns hundreds of AI startups face collapse Business live – latest updates Mark Zuckerberg’s Meta has announced plans for a $95bn (£71bn) fundraising to cover its AI expenditure, even as Elon Musk warned that funding for smaller players in the sector was drying up. The owner of Facebook, Instagram and WhatsApp is a leading investor in AI and is ploughing multibillion-dollar sums into datacentres, the central nervous systems of the technology. Continue reading...

Rolling coverage of the latest economic and financial news Elsewhere in the bond markets, Brazil’s debt is dropping in value after president Luiz Inácio Lula da Silva won a dramatic victory over his far-right opponent, Flávio Bolsonaro , to claim a historic fourth term in power. Bolsonaro, son of the former president, had been expected to oust Lula, but instead the left-wing incumbent triumphed, with 51.79% of the vote to his 45-year-old rival’s 48.21%. “We have spent the past few years debating whether AI will replace people. But the more immediate question for many businesses is whether AI could end up costing more than the people and processes it replaces. “Businesses need to remember every decision an AI makes and every action an agent takes has a price tag. The AI people see and the prompt they enter is only part of the story. AI doesn’t just answer questions: it reasons, retries, checks and refines its response, drawing on models, enterprises data and computing power just to complete a single task. That iterative process and response refinement are what drive AI costs. Once agents are embedded across applications and running tasks throughout a business, the metre is always running – yet many companies still have no idea how many tokens they are using or what a particular task will cost because of this AI cost domino effect. Continue reading...

Investors are already questioning the debt-fueled expansion of neoclouds and whether the large AI infrastructure build-out will generate long-term returns.

SpaceX closed $40 billion in debt financing for GPU purchases as Elon Musk warns AI debt markets have shut off access for most companies.

Elon Musk said in an X post that SpaceX has closed $40 billion in debt financing to purchase GPUs.

PhillipCapital moved its rating on the Elon Musk giant to buy from sell, with the bullishness stemming from the company's AI business.

Musk is trying to raise money to fund a massive expansion in chips, data centers.

Elon Musk, Jeff Bezos, Larry Page, Sergey Brin, Michael Dell and Mark Zuckerberg lost a combined 12-figure sum on Thursday.

The people who want to stop AI data centers from being built in their backyards may wind up helping Musk put them over everyone's heads. The post Breitbart Business Digest: Don’t Want AI in Your Backyard? Musk Will Put It in Orbit appeared first on Breitbart .

Tesla and SpaceX CEO Elon Musk is encouraging shareholders to consider a merger of his two companies, saying that consolidating the two trillion-dollar businesses would be beneficial as they move into the future of artificial intelligence. “I do think there’s a lot of merit to combining companies as we are pretty much in the superintelligence […]

Tech stocks are up after the rocket and artificial intelligence company beat earnings estimates — and Elon Musk confirmed it is weighing a deal with Tesla.

A deal would consolidate Elon Musk’s holdings in rockets, cars and artificial intelligence into a company worth well over $3 trillion.

SpaceX reported a bigger quarterly profit than expected Tuesday as its satellite communications and artificial intelligence businesses boomed.

Elon Musk and Dario Amodei are offering gifts—with strings attached.

SpaceX and Tesla have formed special committees to discuss a potential merger — and Elon Musk thinks "it's a good idea," the CEO of both companies said Tuesday. Why it matters: SpaceX and Tesla have increasingly been collaborating on chips and AI projects — and Musk leads both companies — prompting widespread speculation that they could join forces. Driving the news: Musk said on SpaceX's earnings call that the two companies have formed committees of independent directors to explore the possibility of a deal. "Because I'm a conflicted party, I can't actually be in the discussions," he said, but he added that "I think it would be a good idea." Zoom in: Musk said "there's a lot to be gained" from cooperation on technologies like AI, chips, robotics and connectivity. But he said a deal is not certain. "I think that would be overstating it," he said, noting that 50% of Tesla shareholders would need to approve the deal, which he called a high hurdle. What they're saying: Tech analyst Gene Munster of Deepwater Asset Management said he believes there's a 95% chance a deal will take place in the next two years. "Believe me, shareholders would support this," Munster said Tuesday on X after Musk made his comments. Of note: Any combination would be massive: SpaceX has a market cap of more than $2 trillion, while Tesla's is nearly $1.5 trillion. Tesla reports its quarterly results on Wednesday. Editor's note: This story has been updated with additional details.

Elon Musk’s company reports a 161% growth in revenue year over year driven by its Starlink and AI segments SpaceX released its second-ever public earnings report on Tuesday, revealing a far better quarter than Wall Street projected. Elon Musk’s company, which encompasses rockets, artificial intelligence and satellite communications, reported a 161% growth in revenue year over year, driven by its Starlink and AI segments. The company declared $14.58bn in revenue against analysts’ projected $12.72bn. SpaceX reported earnings per share of 35 cents and a net income of $4.4bn. The company’s stock, which started the day down around 8% for the year, shot up 2% in after hours trading immediately after the results. Continue reading...

Follow SpaceX’s Q3 2026 earnings live, with updates on revenue, Starlink, AI spending, Starship, guidance and SPCX stock.

As SpaceX impacts Ukraine and AI-generated music divides artists and fans, critics are asking what happens when technology has too much control over our lives This was originally published in TechScape, a newsletter about how technology shapes our lives. Sign up to receive it here Hello, and welcome to TechScape. I’m Blake Montgomery, US tech editor at the Guardian, writing to you while sitting in front of Roy Lichtenstein’s monumental Drowning Girl, on view in New York City . Today in tech, we’re discussing the perils of Elon Musk’s one-man global infrastructure, AI-generated music, and a Guardian AI conference in Paris. Continue reading...

Slowly but surely, the leading AI companies are creating a national self-governing structure to oversee their technology and its societal impact. With the federal government largely hands-off, Anthropic, OpenAI and others are self-regulating their technology and now setting up their own plans to redistribute their wealth. Why it matters: Not since the age of the robber barons have America's industrial titans wielded such sweeping power to shape society — and decide how their private fortunes should serve the public good. In the modern era, Washington has largely exercised those powers through regulation, taxation and public spending. The big picture: President Trump has no interest in new regulations. Instead, he has blessed a basic framework for the AI companies to regulate themselves — and potentially each other — outside of formal government monitoring. Anthropic, OpenAI, Google, Elon Musk's XSI, Meta and Nvidia are working on different versions of this. This is all voluntary and rests on the public trusting companies the size of industrialized nations to responsibly police themselves. These companies are in a frantic race to create human-surpassing superintelligence. All are pressing ahead, even as their leaders — particularly at Anthropic — warn of potentially catastrophic risks and profound economic disruption. At the same time, some AI leaders are promising to direct a portion of their vast wealth to benefit those outside their companies. Zoom in: At least three competing visions are emerging for sharing the spoils of the AI boom, each with a different answer to who should control the wealth. Anthropic: The company. On the eve of its blockbuster IPO, Anthropic pledged 5% of its shares to a new public benefit fund that could grow into one of the largest philanthropic institutions in history. At a hypothetical $2 trillion valuation, its stake would be worth $100 billion — more than the Gates Foundation's current endowment. Including earlier founder and employee pledges, roughly 20% of Anthropic's shares are earmarked for the public good. Musk: The people. Musk responded to Anthropic's announcement by urging the company to give shares "directly to the public." On Monday, Musk pledged to give every American child a share of SpaceX next year — a staggering $10.5 billion giveaway at current prices. Musk called it the "first of many," though he offered no details on how the unprecedented distribution would work. OpenAI: The government. CEO Sam Altman has floated giving the U.S. government a 5% stake in OpenAI through a sovereign wealth fund — potentially handing Washington a multibillion-dollar interest in one of the world's most powerful AI companies. Altman envisions an Alaska-style fund that could distribute the industry's investment returns directly to Americans, though the plan remains preliminary and would likely require congressional approval. Reality check: The numbers are staggering. So are the assumptions about future wealth, billionaire follow-through and the public's willingness to trust its benefactors. Bill Gates and Warren Buffett launched the Giving Pledge in 2010, a voluntary promise by billionaires — including Musk — to give away most of their fortunes. Gates built a philanthropic empire, only to become a lightning rod for conspiracy theories. Anthropic's ambitions depend on extraordinary growth projections — its own employees envision 17% GDP growth in 2030 — while Musk has a history of making spectacular promises that fail to materialize. Anthropic's roots in effective altruism , a philosophy deeply distrusted by the Trump administration and its allies, also raise a more fundamental question: Who gets to define the public good? Between the lines: No industry requirements or consensus exist on how best to redistribute their expected wealth. But Trump Accounts — which allow families, businesses and individuals to invest in tax-advantaged funds for children — are emerging as a favorite vehicle for free-market AI leaders. Billionaire investor Brad Gerstner, a driving force behind the program, is championing a vision of broad-based ownership in which ordinary Americans share directly in the economic upside of the AI revolution. SpaceX President Gwynne Shotwell and her husband in July pledged roughly $320 million in company shares to 2 million children through Trump Accounts — a potential blueprint for distributing an even larger slice of Musk's fortune. What to watch: The Trump administration hasn't fully relinquished its regulatory authority, potentially complicating the emerging experiment in AI self-governance. After Anthropic disclosed that its AI had submitted a false homicide tip to Philadelphia police and improperly interacted with government websites, the White House declared that AI companies must report security incidents and remedy any harm. "This notification and remediation process is not optional," Trump's Super Intelligence Force warned — a striking assertion of federal authority just weeks after the president blessed a voluntary system of industry oversight. Axios' Zachary Basu and Bradley Olson contributed reporting.

Bernie Sanders wants to nationalize 50% of the AI industry and jail scientists, while Trump and Elon Musk push for a technological golden age.