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CNBC Daily Open: Tesla makes up for Nvidia’s dip
  + stars: | 2024-11-19 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Individual stocks sway indexesOn Monday, the S&P 500 rose 0.4% and the Nadaq Composite added 0.6%, mostly spurred higher by Tesla . 'Europe-first' approachEuropean countries should adopt a "Europe-first" approach to technology, especially in response to Trump's protectionist inclinations, tech CEOs told CNBC. But investors should still be wary of certain headwinds, warned the bank's Chief U.S. Equity Strategist Mike Wilson.
Persons: Goldman Sachs, Salesforce, Donald, Andy Yen, Morgan Stanley, Mike Wilson Organizations: CNBC, Tesla, Dow Jones, Nasdaq, BDO, Proton, Chief U.S, Equity Locations: Europe
Mauro Pimentel/AFP/Getty ImagesThe moment was a fluke, the type of logistical error that’s almost inevitable at gatherings of almost two dozen world leaders. Yet it was difficult to ignore the impression it left: that Biden is disappearing from view as the world turns its attention to his successor. What members of Biden’s team have been willing to acknowledge is how little they actually know about what Trump and his team may be planning. In Lima and Rio de Janiero, Biden fielded no questions from the press and his aides spoke only off-camera. Reporters had opportunities to ask Biden questions at the G20 summit in Rome in 2021, in Bali in 2022, and in Vietnam in 2023, following the summit’s conclusion in India the prior day.
Persons: Joe Biden’s, Donald Trump, Trump, Biden, I’m, , ” Biden, he’s, Xi, India’s Narendra Modi, Turkey’s Recep Tayyip Erdoğan, Justin Trudeau, Mauro Pimentel, Erdogan, Trump’s, , ” Trump, Javier Milei —, , elect’s, ” Biden’s, Tulsi Gabbard, Pete Hegseth, Jake Sullivan, “ They’ll, White, Janiero, Sullivan, India’s Modi, Emmanuel Macron, Olaf Scholz, Barack Obama, Obama, we’re, ” Obama Organizations: Rio de Janeiro CNN, Trump, Biden, Canadian, Photographers, Getty, “ YMCA, Pentagon, White, Seven, NATO, Lima Convention Center, APEC Locations: Rio de Janeiro, South America, Peru, Brazil, AFP, Lago, Florida, America, Lima, Rio, Finland, Rome, Bali, Vietnam, India, France, Paris, Berlin, United States
Of that amount, roughly $4 billion will come from PC chips, Qualcomm said at its investor day on Tuesday. The chipmaker just introduced PC processors earlier this year, when it released Snapdragon X for Windows devices. In fiscal 2024, Qualcomm's handset business reported $24.86 billion in sales, about 75% of its entire chip business. Another $4 billion in revenue will come from industrial chips and $2 billion will come from chips for headsets, a category Qualcomm calls XR. But the company has warned investors that Apple could choose to stop buying Qualcomm parts as soon as 2027.
Persons: Cristiano Amon, Amon Organizations: Qualcomm, Nasdaq, Apple
Fortunately, Big Fig has designed a mattress specifically for larger bodies, and during Big Fig's Black Friday sale, you can get it at a whopping $500 off. If you're in the market for a mattress, this is the best deal you're likely to find on Big Fig all year. The best Black Friday Big Fig dealsBig Fig Mattress (Queen) $1,399.00 $1,899.00 Save 26% The Big Fig Mattress is constructed for heavier individuals with firm support and a high weight capacity. View at Big Fig What we like Check mark icon A check mark. View at Big FigBlack Friday Big Fig FAQsHow long is Big Fig's Black Friday sale?
Persons: Big, Read Organizations: Business Locations: Big
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Individual stocks sway indexesOn Monday, the S&P 500 rose 0.4% and the Nadaq Composite added 0.6%, mostly spurred higher by Tesla . Shares of Goldman Sachs and Salesforce fell, causing the Dow Jones Industrial Average to drop 0.1%. Autonomous vehicles on the agendaTesla shares jumped 5.6% after it was reported that President-elect Donald Trump's incoming administration plans to draw up a federal framework that will regulate self-driving vehicles.
Persons: Goldman Sachs, Salesforce, Donald, Howard Marks, Goldman Organizations: CNBC, Tesla, Dow Jones, China's CSI, Nasdaq, BDO, Vice, JPMorgan, UBS Locations: Asia, Pacific, Hong Kong, China China, China
AdvertisementDonald Trump has selected several Big Tech critics for top roles in his second administration. A number of his picks have been harsh critics of the Big Tech industry. Tom Williams/CQ Roll CallTrump's pick for attorney general, former Florida Rep. Matt Gaetz, has for years criticized Big Tech companies. Anna MoneymakerVice President-elect JD Vance cut his teeth in venture capital, and has long been a proponent for breaking up Big Tech. AdvertisementVance said that his experience in Silicon Valley taught him to be weary of Big Tech.
Persons: Donald Trump, Matt Gaetz, JD Vance, Elon Musk, Brendan Carr, Trump's, Trump, Brendan Carr Trump, Tom Williams, Carr, Elon, Musk's, Matt Gaetz Trump, Gaetz, Lina Khan, Jonathan Kanter, Elon Musk Elon, Marc Piasecki, Musk, donald, Biden, Tim Cook, X, Anna Moneymaker, Vance, we're Organizations: Big Tech, Trump, GOP, Google, Apple, Microsoft, Federal Communications Commission, Inc, Getty, Heritage, FCC, TikTok, United, Florida Rep, Federal Trade, Elon, Government, of Government, SpaceX, OpenAI, Bloomberg News Locations: Starlink, Florida, Silicon Valley, Trump
And if you did miss them, both these revolutionary runways are part of a new London exhibition, “Vogue: Inventing the Runway,” at the Lightroom. Projected onto the venue’s 39-foot-high walls, a mixture of backstage and runway footage transports viewers into the epicenter of fashion history. Alexander McQueen's Spring-Summer 1999 show, featuring a duo of spray-painting robots, has gone down in fashion history. Coco Chanel would watch the her own fashion shows from the mirrored staircase in her apartment building in Paris. The Vogue exhibition at the Lightroom chronicles the history of the runway, using backstage and runway footage to immerse the audience.
Persons: you’re, Alexander McQueen’s, Chanel, , Chioma Nnadi, , Alexander McQueen's, Paul Vicente, John Galliano’s, Margiela, ’ Pont Alexandre III, Saint Laurent’s, Bella Hadid’s, Alex Consani strutting, Pharrell Williams, Louis Vuitton, Julien De Rosa, Charles Fredrick Worth, ” Dr, Kate Strasdin, dressmakers, Lucy, Lady Duff, Gordon, , I’ve, ’ ”, Karl Lagerfeld, David Fisher, ” Strasdin, Gabrielle “ Coco ” Chanel, tucking, — Marie, Kate, Ashley Olsen’s, Coco Chanel, Karl Lagerfeld’s, “ Voss, Anna Wintour’s, Justin Sutcliffe, McQueen, Dior —, Nnadi, It’s Organizations: London CNN, Vogue, British Vogue, Getty, England’s Falmouth University, CNN, Locations: , British, Saint, Paris, Pont, Pont Neuf, AFP, Worth, New York
Palmer wrote about their "unhealthy relationship" in her new memoir, "Master of Me." Keke Palmer is reflecting on her "unhealthy" relationship with ex-boyfriend Darius Jackson and why it had to end. In August 2023, Palmer seemingly referenced Jackson's comments in Usher's music video for 'Boyfriend'In Usher's music video, Palmer was seen wearing a white bathrobe and getting glammed up for a night out with friends. Later in the video, Palmer and Usher bumped into each other at a casino, wearing the same outfit. Palmer wrote about her relationship with Jackson in her memoir, 'Master of Me'In her book, Palmer writes about Jackson's reaction to her appearance at Usher's concert, calling it "unexpected."
Persons: Keke Palmer, Darius Jackson, Leodis Jackson, Palmer, could've, Jackson, Palmer's, Leo, Sarunas Jackson, Alejandro, Dro, who's, Issa Rae, Derek White, WireImage Palmer, they'd, Tamron, Bustle's Sylvia Obell, Obell, Palmer didn't, Leodis Andrellton Jackson, I'm, Gregg DeGuire, Usher, you've, it's, Pop Crave, Jackson trespassed, Jackson didn't, didn't, she's, we've, Gayle King, Libby Torres Organizations: Business, HBO, Las, Entertainment, Palmer, CBS Locations: gush, Jackson, Palmer, Pacific Palisades , California, Instagram
President-elect Donald Trump on Tuesday pushed his fellow Republicans in the Senate to stop Democrats from confirming any more of President Joe Biden's judicial nominees. The Senate has confirmed 216 of Biden's nominees to the federal judiciary. Biden has put forward 261 total judicial nominees, the White House said in a Nov. 8 press release announcing his 56th round of hopefuls. Incoming Senate Majority Leader John Thune, R-S.D., told ABC News he would continue to bog down the nomination process. "I was on the Senate floor until almost midnight last night voting to confirm President Biden's judicial nominees," Sen. Patty Murray, D-Wash., wrote on X.
Persons: Donald Trump, Joe Biden's, Trump, Judge Embry Kidd, Biden, Chuck Schumer, Schumer, John Thune, Sen, Thune, Patty Murray, We'll, Murray, Kamala Harris, Susan Collins of, Lisa Murkowski Organizations: America, Policy, Tuesday, Senate, Radical, Republican, U.S ., Appeals, ABC News, Democrat, ABC, Republicans, GOP Locations: Palm Beach , Florida, U.S, Susan Collins of Maine, Alaska
Morgan Stanley reiterates Apple, Microsoft and Meta as overweight The firm says "mega-cap tech under-ownership narrows" in the third-quarter but that it's sticking with all three stocks. " UBS upgrades Comfort Systems to buy from neutral UBS says the HVAC company is a beneficiary in tech and data center cooling. UBS upgrades American Water Works to buy from neutral UBS says it sees "consistent" total returns for the water company. " Jefferies reiterates Netflix as buy The firm raised its price target on the stock to $1,000 per share from $800. TD Cowen names Datadog a best idea The firm says the stock is a top idea in 2025.
Persons: Stifel, it's, Morgan Stanley, Okta, , Jefferies, Uber, Needham, Joby, Piper Sandler downgrades Kraft Heinz, Piper, Kraft Heinz, Piper Sandler, Paul, Tyson, NFLX, TD Cowen, United, Datadog, Scott Thomson, it's bullish Organizations: Nvidia, Apple, Microsoft, Barclays, UBS, Comfort Systems, Works, Edison Electric, Kraft, Apollo, TAM, Netflix, Bank of America, Bank of, Scotiabank, JPMorgan Locations: Bank of Nova Scotia, robotaxis
CNN —The United States formally recognized Venezuelan opposition leader Edmundo Gonzalez as the country’s president-elect following the disputed July 28 presidential election, Secretary of State Antony Blinken announced Tuesday on X. “The Venezuelan people spoke resoundingly on July 28 and made Edmundo Gonzalez the president-elect. “The Venezuelan people overwhelmingly and unequivocally expressed their desire for democratic change—the publicly available voting tally sheets say so,” they said. Gonzalez on Tuesday thanked the US for the move, saying: “We deeply appreciate the recognition of the sovereign will of all Venezuelans. The Venezuelan opposition collected and published hundreds of thousands of vote tallies receipts claiming Gonzalez won with more than 70% of the vote.
Persons: Edmundo Gonzalez, Antony Blinken, Gonzalez, Nicolas Maduro, , Edmundo González Urrutia, , ” Gonzalez Organizations: CNN, United, State Department, Tuesday, Carter Center, UN Locations: United States, Venezuelan, Rio de Janeiro, Venezuela, Caracas, Spain
Robert F. Kennedy Jr.'s proposed appointment to lead the US Department of Health and Human Services could have big consequences for a booming weight-loss market. AdvertisementHis likely appointment comes at a pivotal moment for the weight-loss industry, as long-lasting shortages of drugs like Ozempic come to an end. When Farmbox launched in 2014 to deliver healthy food boxes and educate consumers about nutrition, "nobody wanted to invest in us," Tyrner-Dolce said. Doug Mills-Pool/Getty ImagesKennedy's crusade against Big Food could run up against Trump's pro-corporation agenda, though. AdvertisementWeight-loss companies could get more attention — at a costKennedy's focus on holistic chronic disease care, including obesity care, could see a renewed funding rush to the space.
Persons: Trump, Robert F, Kennedy Jr, Kennedy, he's, Obama, Ashley Tyrner, Dolce, Farmbox, FarmboxRx, Michelle Obama, SAUL LOEB, Kennedy's, Jeff Nobbs, Nobbs, Doug Mills, Elon Musk, Donald Trump Jr, podcaster Joe Polish, Brooke Boyarsky Pratt, There's, Knownwell Pratt, Pratt, John Stanford Organizations: Human Services, US Department of Health, National Institutes of Health, Food and Drug Administration, Trump, Big Pharma, Senate, Novo Nordisk, Centers, Medicare, Services, Getty, Street, Department of Health, US Department of Agriculture, Shack, Business, Big Food, Trump's, KFC, McDonald's, Fox, FDA, Moderna Locations: Pennsylvania, Washington
There's a hero we need: Pop Crave. Bluesky has seen explosive growth in the last few weeks — hitting 20 million users. What Bluesky has right now is a ton of new users, mostly of a certain type — the brainiac set. However, there is a Pop Base account — a competitor to Pop Crave. Pop Base confirmed to me that they're on Bluesky — they said they joined in 2022 but only started posting regularly in the last few weeks.
Persons: it's, Bluesky, Elon Musk's, Donald Trump, — brainiacs, Max Read, Sabrina Carpenter stan, , Olivia Rodrigo Organizations: Twitter, Pop Base Locations: Bushwick, Brooklyn, Manhattan, Forest Hills, Queens
AdvertisementX has added Twitch as a defendant in a suit accusing advertisers of colluding to withhold ad spend. Ad revenue on X has plummeted since Elon Musk acquired the platform in 2022. Elon Musk's X is suing Twitch, alleging that the Amazon-owned video streaming platform and other companies illegally conspired to boycott advertising on the platform formerly known as Twitter. Twitch, X, and the WFA didn't immediately respond to requests for comment made by Business Insider outside normal US business hours. Musk's own behavior on and off the platform — including famously telling advertisers who boycotted X to "go fuck yourself" — hasn't encouraged advertisers to place their budgets there, either.
Persons: Elon Musk, Elon Musk's, Twitch, Stephan Loerke, it's, Ørsted, Twitch —, X's, hasn't, Jim Jordan, Donald Trump's, Abraham Yousef, Yousef Organizations: Global Alliance of Responsible Media, Elon, Twitter, Federation, WFA, Business, Unilever, CVS Health, Twitch, Google, Committee, WPP, Diageo, Tower Locations: Texas, Ohio
"We know lots of people are importing their old posts, and we're excited about that," Liu says. To be honest, I've found it a bit weird to see my old tweets in my new home. To fix that — and to minimize the potential for tampering with old tweets — Bluesky is planning to label posts that are moved over from other platforms. "We're about to ship an update to show old posts that are imported with an archival tag," Liu says. Once I've got all my old tweets unpacked on Bluesky, I'm going to head back over to X and torch my entire archive.
Persons: Elon Musk, Trump, We've, Emily Liu, Nicolas Castellani, Amos da Silva Bezerra, They've, X, Bezerra, Musk, Mastodon, Bluesky, it's, Castellani, Donald Trump, David Shiffman, Liu, backdating, I've, Joe Bak, Coleman, Adam Rogers Organizations: Elon, Bluesky, Twitter, Business Locations: decamp, Canada, Europe, Brazil, Bluesky
Israel’s military has issued 1,126 arrest warrants for ultra-Orthodox conscripts who have not responded to drafting orders, in a move likely to fuel discontent over a controversial decision to remove their decades-long exemption from service. The move is likely to fuel the discontent that has roiled the country since a Supreme Court ruling in June that ultra-Orthodox Jews could not be exempt from military service, as they have been since the founding of Israel. ‘Death rather than draft’Anger had been simmering among the ultra-Orthodox community even before the news of the arrest warrants. For many Haredis, the idea that they would be pulled from studying scripture and drafted into Israel’s military is simply out of the question. However, the community has since grown exponentially, allowing tens of thousands of ultra-Orthodox men to now avoid the draft.
Persons: Shay Tayeb, Benjamin Netanyahu, Israel Katz, Yoav Gallant, Tayib, , Yair Lapid, Katz, scuffles, Yona Kaye, , ” Kaye Organizations: Defense, dodgers, Reuters Locations: Brig, Israel, Gaza, Lebanon, Gen, Bnei Brak, Tel Aviv
CNN —This has been a blockbuster election year politically, so it’s fitting that a new movie shines a light on an ancient and highly secretive voting process: the selection of a new pope. Brían F. O'Byrne as Cardinal O'Malley (L) and Ralph Fiennes as Cardinal Lawrence (R) in the movie "Conclave." They cast them in the Sistine Chapel, in front of the awe-inspiring sight of Michelangelo’s “Last Judgment,” writing their choices on paper ballots that are then burnt after being counted. The crowd waiting outside is informed that a pope has been elected when the chimney above the Sistine Chapel billows out white smoke. White smoke emerged from the chimney on the Sistine Chapel when a new pope was elected on March 13, 2013.
Persons: , Edward Berger, Ralph Fiennes, Stanley Tucci, Isabella Rossellini, John Lithgow, Robert Harris, F, O'Byrne, Cardinal O'Malley, Cardinal Lawrence, Bishop Robert Barron, egotism, Fiennes ’, Pope Francis, Steven P, Millies, Bernardin, , Joe Raedle, Harris, Cormac Murphy O’Connor, Peter Straughan, Tom Reese Organizations: CNN, Roman Catholic Church, Fire Catholic, Bernardin Center, Catholic Theological Union, Jesuit Locations: British, Central, Chicago, Washington ,
The two-stage megarocket — which features the Starship spacecraft stacked atop the Super Heavy booster — will attempt liftoff during a 30-minute window that opens at 5 p.m. If the test flight team deems conditions are favorable for a landing attempt, booster touchdown should occur about seven minutes after launch. Joe Skipper/ReutersThe Starship spacecraft, meanwhile, will fire up its own six engines before entering a coasting phase as it soars through space. During the fourth integrated Starship test flight in early June, the spacecraft endured significant damage. “In 2025, SpaceX plans to undertake a long-duration flight test and a propellant transfer flight test,” according to a recent report from NASA’s Office of the Inspector General, or OIG.
Persons: CNN —, Sergio Flores, “ chopsticks, , , Elon Musk, SpaceX's, Joe Skipper, ” Musk, Artemis III Organizations: CNN, SpaceX, Super, Federal Aviation Administration, FAA, Getty, Starship, NASA’s Locations: Brownsville , Texas, Starbase, AFP
AdvertisementNvidia's Blackwell chip presents cooling challenges for customers. First, there were chip design issues, which CEO Jensen Huang has since said are fully resolved. "I think the overheating issues have been present for months and they have largely been addressed," Patel told Insider. AdvertisementIn addition to engineering and operational challenges, liquid cooling at scale brings with it a list of environmental concerns. Despite the hard work and environmental strain, of converting to liquid cooling, the incentives are strong.
Persons: Nvidia's Blackwell, Blackwell, Jensen Huang, Dylan Patel, Patel, Meta, Eugene Kim, Semianalysis, Huang Organizations: Nvidia, Blackwell, Semianalysis, BI, Amazon Locations: Semianalysis, Blackwell
The narrative from Silicon Valley is that the AI train has left the station and any smart investor had better hop on before these products become “superintelligent” and start solving all the world’s problems. Now, some of the leading language models appear to be hitting a wall, according to at least three reports last week. But if we have indeed hit a scaling wall, “it may mean that the the mega-cap technology companies have over-invested” and it’s possible that they could scale back in the near future. That’s the AI optimist/pragmatist view. For a less rosy outlook, I turned to Gary Marcus, NYU professor emeritus and outspoken critic of AI hype.
Persons: CNN Business ’, New York CNN — It’s, OpenAI, , that’s, , Orion “, Ilya Sutskever, ” Sutskever, Marc Andreessen, Sam Altman, ” Gil Luria, Davidson, it’s, ” Luria, Gary Marcus, ” Marcus, “ LLMs Organizations: CNN Business, New York CNN, Nvidia, Tech, ” Bloomberg, ” Reuters Locations: New York, GPT
Tech: We're in the middle of a white-collar recession, and tech workers are shouldering much of it . We're in the middle of a white-collar recession, and tech workers . AdvertisementElon Musk's government efficiency commission has been tasked with cutting government spending, raising questions about the future of millions of jobs. Tech jobs are mired in a recession. White collar hiring is in a huge slump, and tech workers are some of the hardest hit .
Persons: Trump hasn't, Tesla, Chelsea Jia Feng, Madison Hoff, Vivek Ramaswamy, Musk, Alice Tecotzky, John L, Dorman, Allison Robbert, Scott Bessent, Cantor Fitzgerald, Howard Lutnick, Marc Rowan, Kevin Warsh, Trump, Goldman Sachs, Morgan Stanley, Natalie Ammari, Uber, Verily, , Rebecca Zisser, Elon Musk, Bluesky —, Jake Paul's, Netflix's Jake Paul, Mike Tyson, wasn't, Donald Trump's, Satya Nadella, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Google, Trump, Tech, Getty, Elon, Department of Education, Veterans Affairs, Department of Government, Social Security, Medicare, Twitter, Getty Government, Allison, Treasury, BCA Research, Goldman, BI, LinkedIn, Microsoft, China Economic, Security, Walmart Locations: Washington , DC, China, Brazilian, New York, Chicago, London
However, there are consequences for failing to file a tax return that you should be aware of. Why filing taxes is importantLegal obligationsFirst things first: Do you even need to file a tax return? However, you are required to file a tax return if you have $400 or more in net self-employment income. FAQs on what happens if you don't file taxesHow long can I go without filing taxes? If you don't file a tax return and don't owe any taxes, you have up to three years to claim any refund that might be due.
Persons: David Beck, Beck, filers, TurboTax, you'll, It's, it'll, there's, There's, haven't, Morgan, Tanza, Read Organizations: Free, NEC, TurboTax, Budget, Social Security, State, IRS, Levy, Railroad, Board, Military, garnishment, Chevron, Finance, Morgan Stanley Wealth Management, Fidelity, BI, Elon University Locations: U.S, Dix Hills, NY, TheStreet
J35-A stealth fighterMore than a decade in the making, China’s much-anticipated new stealth fighter jet, the J-35A, is widely seen as part of Beijing’s bid to match the United States’ stealth fighter capabilities. The HQ-19 surface-to-air missile system is among the most anticipated new weapons displayed at the airshow in Zhuhai, China. The Chinese military's new unmanned aerial vehicle, "Jetank," is displayed at the Zhuhai airshow on Nov. 12, 2024. It comes with folding tailfins, a design that allows for more compact stowage to fit the country’s stealth fighter jets. A Russian Sukhoi Su-57 fifth-generation fighter aircraft flies during the airshow in Zhuhai, China on November 14, 2024.
Persons: , Xinzhi, , Wei Dongxu, Du Wenlong, Zhuhai . Long Wei, Zou Wei, Russian Sukhoi Su, Hector Retamal, Sergei Shoigu Organizations: Hong Kong CNN, PLA Air Force, CCTV, US, Air Defense, US Defense, PLA, PLA Academy of Military Sciences, Kyodo, Future Publishing, China Military, China Military Online, Aviation Industry Corporation of China, Air Missile, International Institute for Strategic Studies, AIM, Getty, Tass Locations: Hong Kong, China, Zhuhai, United States, Beijing, Asia, Ukraine, Taiwan, States, Zhuhai . Long, Air Missile China, Russian Sukhoi, AFP, Russia, Russian
AdvertisementOpenAI Head of Product Nick Turley said users should experiment with ChatGPT's voice mode. Turley offered chatbot users tips on how to upload documents or make their own GPTs. Many people use ChatGPT to create recipes or write work emails, but OpenAI's Head of Product Nick Turley has some handy tips users might want to try. ChatGPT's voice feature comes in nine human-like voices developed with professional voice actors, which can be changed in the website's settings, according to the company. "It is a completely different way of using ChatGPT," Turley said.
Persons: Nick Turley, Turley, OpenAI, It's, they've, ChatGPT, you've Organizations: Twitter, Pixar, Enterprise
AdvertisementIn an email to subscribers, Ark Invest highlighted its exposure to Elon Musk's private companies. Its venture fund includes stakes in SpaceX, X, and xAI, totaling nearly 15% of net assets. Ark Invest hyped Musk's influence with Donald Trump, saying his companies could also benefit. SpaceX was Ark Venture Fund's largest holding, with about 13% of assets, worth an estimated $8.7 million. In a recent interview, Winton illuminated the factors that drove Ark's investments in Musk's companies.
Persons: Elon, Donald Trump, Elon Musk, Brett Winton, Elon Musk's, Ark, xAI, Trump, Musk, He's, Winton Organizations: Ark Invest, SpaceX, Ark, Elon, Invest, ARK Venture Fund, Ark Venture, Trump megadonor, Trump's, Winton Locations: Elon, United States
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