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☆ IAC CEO Joey Levin on partnership with OpenAI
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIAC CEO Joey Levin on partnership with OpenAIIAC CEO Joey Levin joins CNBC's 'Money Movers' to discuss IAC's AI partnership with OpenAI, earnings, company forecast, and more.

Persons: Joey Levin, CNBC's Organizations: OpenAI IAC, OpenAI

☆ 81% of young people say a 4-day workweek would boost productivity, new CNBC/Generation Lab survey reports
▼ + stars: | 2024-05-07 | by ( Alex Koller | ) www.cnbc.com time to read: +3 min

Young adults are throwing their support behind calls for a four-day workweek. A new national survey from CNBC/Generation Lab of 1,033 people aged 18 to 34 found that an overwhelming 81% of respondents believe a four-day workweek would boost their company's productivity, while 19% said productivity would decline. Exos, a U.S. coaching company that trains top athletes and leads corporate wellness programs, recently reported results from the first six months of an ongoing four-day workweek experiment. Other four-day workweek trials have shown similar gains. Although respondents to the CNBC/Generation Lab survey largely agreed on workweek length, they were less unified when asked about work setting.

Persons: Sen, Bernie Sanders, Mark Takano, Barry Diller, Steven Cohen, Cohen Organizations: CNBC, Representatives, IAC, New York Mets Locations: USA, U.S

☆ Interest rates and the AI-fueled rally remain top of mind for stock investors in the week ahead
▼ + stars: | 2024-05-03 | by ( Alex Harring | ) www.cnbc.com time to read: +9 min

The Fed and economic policy were top of mind this week given the central bank's Wednesday decision to yet again leave interest rates unchanged , as it has since last summer. This week included the conclusion of April's trading month, which marked the first down month of the year for all three major market averages. Indeed, some recent earnings reports have raised doubts about the economy, with brands from McDonald's and Starbucks evidencing signs of strain among consumers. While no new inflation numbers are scheduled for release next week, investors will see reports on March wholesale inventories, March consumer credit and May consumer sentiment from the University of Michigan. AI trade Though interest rates took center stage this week, investors also continued monitoring companies tied to the artificial intelligence boom amid the stocks' recent choppiness.

Persons: they're, Jerome Powell, Larry Tentarelli, David Donabedian, Sam Stovall, There's, Stovall, Tom Hainlin, Tentarelli, CFRA's Stovall, Lyft, Cabot, Aramark, Tempur Sealy, Nikola, Walt Disney, Sally Beauty, Warby Parker, Krispy Kreme, Papa John's Organizations: Federal Reserve, Treasury, Nasdaq, Dow Jones, CIBC Private Wealth, Dow, CFRA, Citigroup, Bank of America, U.S, Bank Wealth Management, University of Michigan, Nvidia, Disney, Spirit Airlines, Tyson Foods, Pharmaceuticals, Lucid, Palantir Technologies, Simon Property, Tech, Lab, Goodyear Tire, Noble Corp, Vornado Realty, Coty, BellRing, Consumer, UBS, BP, Nintendo, Bloomin, Duke Energy, Rockwell Automation, Ferrari, NRG Energy, Electronic Arts, Cirrus, Adaptive Biotech, Arista Networks, Dutch Bros, Holdings, Virgin Galactic, IAC, Rivian Automotive, Brighthouse, Occidental Petroleum, Assurant, Kinross Gold, Labs, Diamond, Reddit, Anheuser, Busch InBev, Embraer, Health, United Parks & Resorts, Emerson Electric, Brookfield , New York Times, Food, Reynolds Consumer Products, Teva Pharma, Uber Technologies, Dine Brands, Liberty Broadband, Fox Corp, Cushman &, Liberty Media, Arm Holdings, Kodiak Gas Services, Solaredge Technologies, AMC Entertainment, Cheesecake, News Corp, Toyota Motors, Fair, US Foods, Hyatt Hotels, Warner Bros, Hilton, Warner Music Group, Unity Software, Insurance, Gen, Honda, AMC Networks Locations: Central, McDonald's, Expeditors, Occidental, Angi, Brookfield , New, Ambev, Cushman & Wakefield, Michigan

☆ Barry Diller Bets on Media Veterans to Turn Around The Daily Beast
▼ + stars: | 2024-04-15 | by ( Benjamin Mullin | ) www.nytimes.com time to read: +1 min

The Daily Beast has long been an outlier in the digital empire of the billionaire Barry Diller. As sites like Match.com and Expedia made millions over the years, Mr. Diller’s digital tabloid lost money, publishing scoop after scoop but struggling to turn a profit. Mr. Sherwood and Ms. Coles will be granted an equity stake equivalent to roughly half of The Daily Beast, with IAC keeping the majority, according to a person familiar with the matter. Mr. Sherwood, 60, will be its chief executive and publisher, and Ms. Coles, 61, will be chief creative and content officer. The decision to bring in Mr. Sherwood and Ms. Coles came after Mr. Diller considered a sale of The Daily Beast and had conversations with various suitors.

Persons: Barry Diller, Expedia, Diller, he’s, Ben Sherwood, Joanna Coles, Sherwood, Coles, Janice Min Organizations: Disney ABC Television Group, Hearst Magazines, IAC, Daily, Hollywood, Ankler Media, The Hollywood Locations: Ben

☆ Some Trump stock investors have already lost half their money
▼ + stars: | 2024-04-12 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —Shares of Trump Media & Technology Group are in free fall. Trump Media is now trading below $31. Trump owns a dominant stake of 78.8 million shares in the company, which generates little revenue and is losing users. At the closing high for Trump Media’s stock price, the former president’s stake was valued at $5.2 billion. Trump Media disclosed losing $58 million in 2023 on very light revenue of just $4.1 million.

Persons: Donald Trump’s, Trump, ”, Shannon Devine, Capital’s Matthew Kennedy, Billionaire Barry Diller, ” Shannon Devine, it’s Organizations: New, New York CNN, Trump Media & Technology Group, Trump Media, Nasdaq, Trump, Big Tech, ” Trump Media, CNN, Expedia, People Magazine, IAC, CNBC Locations: New York

☆ Nelson Peltz might have scored $300 million after losing the Disney proxy war. But it was still a waste of time, expert says
▼ + stars: | 2024-04-05 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

Read previewThe proxy war between Disney and billionaire activist investor Nelson Peltz is over. According to The Wall Street Journal, Peltz's hedge fund Trian Partners may have profited about $300 million by waging a 16-month proxy battle against Disney, citing anonymous sources familiar with the matter. AdvertisementLast February, Bloomberg reported that Peltz made about $154 million in paper profit after buying 9.4 million shares of Disney. After all, Peltz waged two separate proxy battles against Disney in less than two years. AdvertisementWhen asked about the outcome of Peltz's proxy war, IAC chairman and billionaire Barry Diller told CNBC's Squawk Box on Thursday that the battle was a "grand waste of time" and questioned the value of Petlz's activist campaign.

Persons: —, Nelson Peltz, Bob Iger, Iger, Peltz …, Peltz, Trian, James Park, Barry Diller, CNBC's Organizations: Service, Disney, Wall Street, Business, Bloomberg, The, University of California, IAC, Trian Partners Locations: Los Angeles

☆ Trump Media stock sinks to post-merger low
▼ + stars: | 2024-04-05 | by ( Matt Egan | ) edition.cnn.com time to read: +1 min

CNN —Shares of Truth Social owner Trump Media & Technology Group tumbled 12% on Friday, sinking to their lowest level since the company went public last week. Despite this week’s losses, Trump Media shares have still spiked by more than 130% so far this year. Trump Media recently disclosed losing $58 million last year on very light revenue of just $4.1 million. Barry Diller, the billionaire chairman of Expedia and People Magazine owner IAC, told CNBC on Thursday that Trump Media is a “scam” and people buying the stock are “dopes.”“I mean, it’s ridiculous,” Diller said on CNBC. “The company has no revenue.”A Trump Media spokesperson denounced critics of the company.

Persons: Donald Trump’s, Barry Diller, ”, ” Diller, Trump, ” Shannon Devine Organizations: CNN, Social, Trump Media & Technology Group, Trump Media, Nasdaq, Trump Media’s, Wall Street, Expedia, People Magazine, IAC, CNBC Locations: ”

☆ Barry Diller on Truth Social: It's a scam
▼ + stars: | 2024-04-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBarry Diller on Truth Social: It's a scamBarry Diller, IAC chairman and senior executive & Expedia chairman and senior executive, joins 'Squawk Box' to discuss Disney's proxy fight win over activist investor Nelson Peltz, Paramount's merger discussion with Skydance, whether TikTok poses a national security threat, DOJ's antitrust lawsuit against Apple, Truth Social, AI regulation, the prospect of a 4-day workweek, and more.

Persons: Barry Diller, Nelson Peltz Organizations: Truth, IAC, Apple

☆ Barry Diller thinks companies will move to a standard of four days in office with Friday flexible
▼ + stars: | 2024-04-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Companies may eventually transition to four days in person, with a flexible Friday option, according to Barry Diller. Which is what is going to lead to — I think sensibly — not necessarily a four-day work week, but four days in the office, and Fridays you can work from home or work at your own schedule." In the wake of the Covid-19 pandemic, companies have gravitated toward flexible working schedules, but the multitude of options has created some "chaos" at companies, according to Diller. Diller isn't the only investor calling for a more flexible working norm. During an interview with CNBC's "Squawk Box" on Wednesday, Mets owner Steve Cohen said that the growth of artificial intelligence could lead to a shortened four-day work week.

Persons: Barry Diller, CNBC's, Diller, Steve Cohen Organizations: IAC, Wednesday, Mets

☆ Barry Diller says Trump Media is 'a scam' and people buying shares are 'dopes'
▼ + stars: | 2024-04-04 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +1 min

Barry Diller thinks that shareholders of Truth Social's owner have been scammed. The IAC chairman pointed to Trump Media's low revenue and said he doubts Truth Social will grow. Shares for Trump Media and Technology Group initially surged after going public, but have since tumbled. AdvertisementBarry Diller has a message for Trump Media shareholders: "I think they're dopes." But that moment in the sun was short-lived, and shares of the former president's social media platform have since come crashing down to earth.

Persons: Barry Diller, — Organizations: Truth, IAC, Trump, Trump Media, Technology Group, Service, Business

☆ Watch CNBC's full interview with IAC chairman and senior executive Barry Diller
▼ + stars: | 2024-04-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with IAC chairman and senior executive Barry DillerBarry Diller, IAC chairman and senior executive & Expedia chairman and senior executive, joins 'Squawk Box' to discuss Disney's proxy fight win over activist investor Nelson Peltz, Paramount's merger discussion with Skydance, whether TikTok poses a national security threat, DOJ's antitrust lawsuit against Apple, AI regulation, the prospect of a 4-day workweek, and more.

Persons: Barry Diller Barry Diller, Nelson Peltz Organizations: IAC, Apple

☆ Barry Diller thinks we're going to have 4-day workweeks — kind of
▼ + stars: | 2024-04-04 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

Barry Diller thinks employees should come into the office — but he'll settle for four days a week. Diller told CNBC different hybrid work models are causing chaos, and advocated for a standard model. On Fridays, Diller sees a future where people "can work from home or work at your own schedule." AdvertisementBarry Diller believes all the hybrid work models adopted by different companies in the wake of the pandemic are spawning "chaos." On Fridays, Diller foresees a future where employees "can work from home or work at your own schedule," he said.

Persons: Barry Diller, Diller, —, Diller foresees Organizations: CNBC, Service, IAC, Business

☆ Barry Diller shares urgent warning about AI
▼ + stars: | 2024-04-04 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

Billionaire Barry Diller said it's time to get serious about regulating AI. Diller has two suggestions for legislators about how to reel in AI. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The latest titan to voice alarm is the media billionaire Barry Diller, who raised his concerns about AI to CNBC on Thursday. "All attention should go towards regulating artificial intelligence, and we don't have a minute to lose," the IAC chairman said.

Persons: Barry Diller, Diller, —, we're Organizations: Service, CNBC, IAC

☆ Trump Media is 'a scam' and people buying its stock are 'dopes,' Barry Diller says
▼ + stars: | 2024-04-04 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Trump Media is "a scam," and people buying its high-flying stock are "dopes," IAC and Expedia Chairman Barry Diller said Thursday in a scathing takedown of the social media company whose majority shareholder is former President Donald Trump. "I mean, it's ridiculous," Diller said on CNBC's "Squawk Box" when asked about Trump Media. When Trump Media began trading last week with the ticker DJT, its share price rocketed up about 50% to close to $80 before settling down. As of Thursday morning, Trump Media shares were selling for nearly $47. Trump Media on Monday reported it had net losses of $58 million in 2023.

Persons: Barry Diller, Donald Trump, Diller, Trump Organizations: Trump Media, IAC, CNBC

☆ Barry Diller: Sensible for companies to move to a '4 days in office, Fridays flexible' standard
▼ + stars: | 2024-04-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBarry Diller: Sensible for companies to move to a '4 days in office, Fridays flexible' standardBarry Diller, IAC chairman and senior executive & Expedia chairman and senior executive, joins 'Squawk Box' to discuss Disney's proxy fight win over activist investor Nelson Peltz, Paramount's merger discussion with Skydance, whether TikTok poses a national security threat, DOJ's antitrust lawsuit against Apple, AI regulation, the prospect of a 4-day workweek, and more.

Persons: Barry Diller, Nelson Peltz Organizations: Sensible, IAC, Apple

Kushner and Kloss take over Life magazineLife, the iconic photography-focused chronicler of the 20th century, has taken on many forms, including a weekly magazine, a website and the occasional special issue. Kushner and Kloss are buying the publication rights to Life from Dotdash Meredith, the print and digital publisher. The deal is being done through Bedford Media, the media start-up that Kloss leads as C.E.O. Life was once a central part of American culture, featuring the work of renowned photographers like Robert Capa and writing by top authors. (Ernest Hemingway’s “The Old Man and the Sea” first appeared in its pages.

Persons: Kushner, Kloss, Barry, Josh Kushner, Dotdash Meredith, Robert Capa, Ernest Hemingway’s “ Organizations: IAC, Bedford Media Locations: OpenAI

☆ 3-Stock Lunch: IAC, HOOD, LYFT
▼ + stars: | 2024-02-14 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email3-Stock Lunch: IAC, HOOD, LYFTAadil Zaman, Wall Street Alliance Group partner, joins 'Power Lunch' to discuss three stock plays for companies including: IAC inc, Robinhood and Lyft.

Persons: LYFT Aadil Organizations: IAC, HOOD, Wall Street Alliance Group

☆ Stocks making the biggest moves after hours: Lyft, Robinhood, Airbnb, MGM Resorts and more
▼ + stars: | 2024-02-13 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

The company posted adjusted earnings per share of 18 cents for the fourth quarter, topping analysts' estimates of 8 cents, according to LSEG. Earnings came in above analysts' estimates, while revenue missed expectations. Adjusted earnings before interest, taxes, depreciation and amortization came in at $157 million, which was higher than analysts' estimates of $125 million, per StreetAccount. Revenue of $140 million for the quarter beat analysts' estimates of $135 million. In the fourth quarter, Airbnb reported $2.22 billion in revenue, while analysts predicted $2.17 billion, per LSEG.

Persons: Robinhood, Lyft, GoDaddy, Zillow, amortization, LSEG, Airbnb, Instacart, DaVita, FactSet, Angi, Yun Li, Tanaya Macheel, Darla Mercado Organizations: Revenue, Akamai Technologies, MGM Resorts, IAC, Topgolf Callaway Brands Locations: LSEG, China, U.S, Detroit, FactSet

☆ Jeff Bezos and Lauren Sanchez had a 2nd star-studded engagement party attended by guests including Kris Jenner, Oprah, and Robert Pattinson
▼ + stars: | 2023-11-15 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Call it déjà vu: Jeff Bezos and fiancée Lauren Sanchez had an engagement party, again. Guests included the likes of Oprah, Kris Jenner, Barbra Streisand, and Robert Pattinson. AdvertisementWhy have one engagement party when you can have two? Guests included the likes of Kris Jenner, Oprah Winfrey, Robert Pattinson, Salma Hayek Pinault, and Barbra Streisand, per Vogue. AdvertisementGuests at Bezos' and Sanchez's first engagement party included big names like Leonardo DiCaprio, Bill Gates, the Queen of Jordan, Andrew Garfield, and Bumble founder Whitney Wolfe Herd, according to Page Six.

Persons: Jeff Bezos, fiancée Lauren Sanchez, Barry Diller, Diane von Furstenberg, Oprah, Kris Jenner, Barbra Streisand, Robert Pattinson, —, Lauren Sanchez, Oprah Winfrey, Salma Hayek Pinault, Bezos, Leonardo DiCaprio, Bill Gates, Queen, Jordan, Andrew Garfield, Bumble, Whitney Wolfe, Sanchez Organizations: Service, Beverly, Vogue

☆ IAC narrowly beats Wall Street third-quarter revenue estimates
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

Nov 7 (Reuters) - Internet holding company IAC (IAC.O) beat Wall Street third-quarter revenue estimates on Tuesday, as the owner of publisher Dotdash Meredith saw traffic growth return for core brands. IAC owns Dotdash Meredith, America's largest digital and print publisher, as well as brands such as the Daily Beast and care services platform Care.com. Revenue fell 15% to $1.11 billion, narrowly beating analyst estimates, amid a challenging advertising market. Revenue at Dotdash Meredith, its biggest business, fell 11% to $417.5 million, with digital and print revenue declining 4% and 16%, respectively. Consolidated adjusted EBITDA grew 83% year-over-year, with adjusted core earnings growing at home services platform Angi and Dotdash Meredith.

Persons: Dotdash Meredith, We've, Joey Levin, GAI, Helen Coster, Manya, Krishna Chandra Organizations: IAC, Daily, Revenue, Consolidated, Dotdash Media, . Copyright, Manya Saini, Thomson Locations: Dotdash, New York, Bengaluru

☆ Match Group stock plunges after decline in people paying for Tinder
▼ + stars: | 2023-11-01 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +2 min

Match Group , the parent company of dating apps Tinder and Hinge, is trading at its lowest price since it spun out into a separate company from IAC in July 2020. Analysts expressed concern about lower fourth-quarter revenue projections and a falling number of people paying for Tinder. "Beyond the guide, we suspect a key area of scrutiny will be around trends in Tinder payers. This metric was down 6% y/ y in 3Q (in line with guidance) – but MTCH called out a ~200K sequential headwind in 4Q as weekly subscribers churn out of the system." Match also agreed to use Google's User Choice Billing by March 31, 2024, which will oblige Match to pay a cut of subscription fees to Google.

Persons: MTCH, Bumble Organizations: IAC, LSEG, Tinder, JPMorgan, Equity Research, Google, Deutsche Bank, CNBC PRO Locations: 4Q

☆ Investing in Space: A reality check on SPAC frenzy revenue projections
▼ + stars: | 2023-10-12 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +13 min

Overview: Forecast or fantasyWe're now at least two years on from when a slew of space companies went public during the SPAC frenzy, and, look, none of them look great. Now a bit further down the road, I want to look at a different financial metric: 2023 revenue projections. I ran an informal series for a while to mark when a space company announced it was going public. The rest of the pack isn't as on the mark: A few companies are roughly halfway to their earlier 2023 revenue projections, or performing even better. Spire forecast 2023 revenue of $227 million and is closing in on about $107 million.

Persons: Angela Weiss, CNBC's Michael Sheetz, it's, I'd, Here's, Derek Tournear, Ron Rosano, Trevor Beattie, Namira Salim, –, REx, Christopher Povak, Lisa Watson, Morgan, – Watson, Morgan Starliner, General, NASA Astrobotic, Andy Lapsa Organizations: New York Stock Exchange, AFP, Getty, Terran, Galactic Astra, CNBC, Pentagon, Space Development Agency, LinkedIn, Galactic, NASA, NASA NRO, Soyuz, – Reuters, Reuters SpaceX, FAA, Federal Aviation Administration, IAC, Lunar Research, SpaceX, Boeing NASA, Moonshots Capital, Lavrock Ventures, Veteran Fund, Mana Ventures, AIN Ventures, Capital Factory, Astra, – Bloomberg, ViaSat, Viasat Locations: Russian, Azerbaijan, Russia, Venezuela, South Africa, Florida, Washington, CNBC Los Angeles

☆ 4 experts explain why Elon Musk's plan to colonize Mars is 'romanticized', not 'realistic', 'cosmic vandalism'
▼ + stars: | 2023-10-07 | by ( Maiya Focht | ) www.businessinsider.com time to read: +17 min

Four scientists told Insider his plan is bad for technical, scientific, and ethical reasons. Yes, experts agree we might want to settle other worlds, but Mars might not be our best bet, at least not now, four scientists told Insider. SpaceX's first priority is "establishing a cargo route to Mars," Musk told the Washington Post in 2016. From Mars, Musk told the IAC, people could go to the asteroid belts, the moons of Jupiter and Saturn, and the Kuiper belt. AdvertisementAdvertisementEssentially, terraforming Mars would involve melting its polar ice caps, which would release CO2 reserves.

Persons: Elon Musk, —, Ray Bradbury's, Arnold Schwarzenegger, Christopher Edwards, He's, Musk, Refugio Ruiz Musk's, they'd, he's, Edwards, PATRICK T, FALLON, there's, Bruce Jakosky, Jakosky, Andrew Coates, Coates, Mars, terraformed, Alexander Gerst, Rachael Seidler, Refugio Ruiz, Seidler, Jeff Bezos, Buzz Aldrin, Chris McKay, " Edwards, that's Organizations: Service, Northern Arizona University, SpaceX, Mars SpaceX, International Astronautical, Washington Post, IAC, Elon Musk, NASA, Getty, Mars, ESA, University College London's, Science, University of Florida, AP, JPL, Caltech, SETI, Center for Strategic, International Studies, NASA's Ames Research Center Locations: Texas, Mars

☆ A pair of Bahamian private jets said to be funded by a 'handshake deal' with Sam Bankman-Fried are set to be confiscated by the US government
▼ + stars: | 2023-10-06 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Prosecutors said Wednesday that two private jets linked to Sam Bankman-Fried are subject to forfeiture. FTX loaned a Bahamian jet charter company $28.4 million to buy the planes, Insider reported. AdvertisementAdvertisementTwo private jets linked to Sam Bankman-Fried are set to be confiscated by the US government, according to a forfeiture bill filed Wednesday. The court filing says he tried to sell the Global to help repay the loan, before the US Marshals Service seized it in February. Bankman-Fried, nor any other FTX executives, ever flew on the Global or Embraer, a person familiar with the situation previously told Insider.

Persons: Sam Bankman, FTX, —, Damian Williams, Paul Aranha, Fried, Aranha, SBF's Organizations: Service, Bombardier Global, Embraer, EMB, Capital, IAC, Air Capital, Trans Island Airways, Global, US Marshals Service, Cessna Locations: Bahamian, Delaware, FTX, Florida, Bahamas

☆ Watch Elon Musk give updates about SpaceX from annual space congress
▼ + stars: | 2023-10-05 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Elon Musk is speaking Thursday during the world's annual space congress, where the SpaceX CEO is expected to give updates on development of the company's monster Starship rocket. SpaceX earlier this year made its first attempt at launching Starship into space, but the craft exploded a few minutes into the test flight. The company is now preparing to make its second Starship flight attempt, as regulators review its application for a launch license. Musk is speaking virtually at the 74th edition of the International Astronautical Congress (IAC), which this year is held in Baku, Azerbaijan. The space conference comes two weeks after Azerbaijan military forces converged on the disputed Nagorno-Karabakh region, to the west of Baku.

Persons: Elon Musk, Musk, Ilham Aliyev Organizations: Elon, SpaceX, International Astronautical Congress, IAC, Azerbaijan Locations: Baku, Azerbaijan, Mars, Nagorno, Karabakh

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