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News on Medial
Musk taps investors for billions days after Washington exit
Economic Times
·
2m ago
Medial
Elon Musk is raising $5 billion in debt for xAI Corp, his AI startup, aiming to focus on business rather than politics. Morgan Stanley is handling the debt with a significant interest rate. The funds will support xAI’s AI infrastructure expansion, including a large data center in Memphis. This move follows Musk's departure from political roles and involves combined efforts across his ventures, including Neuralink and a secondary xAI stock offering.
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Elon Musk denies he has a drug problem after bombshell report
Gizmodo
·
1y ago
Medial
In a recent article by the Wall Street Journal, multiple sources claim that Elon Musk's drug use is ongoing and concerning. However, Musk denies these allegations and states that he agreed to undergo three years of random drug testing after smoking weed on Joe Rogan's podcast. The article suggests that excessive drug use could potentially jeopardize government contracts at Musk's companies, such as SpaceX, and put billions of dollars of investors' assets at risk. While Musk denies these allegations, stories about his drug use continue to circulate.
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SEBI bans JM Financial from managing new bond issuances
VCCircle
·
1y ago
Medial
India's market regulator, SEBI, has banned JM Financial from managing new bond issuances after a preliminary investigation found that it provided funds to investors to invest in public debt issues while assuring them of an exit at a profit on the listing day. However, JM Financial can still act as lead manager for public issues of debt for the next 60 days. SEBI's action comes as part of its efforts to regulate and enforce guidelines for bond issuances.
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Musk shares pic of 4 new Starship rockets days after it exploded
Twitter
·
1y ago
Medial
World's richest man Elon Musk shared a picture showing four new Starship rockets days after it exploded for the second time during a test flight. "Four more Starships, the last of V1," Musk wrote. SpaceX, Musk's startup that launched the rocket, clarified that the rocket blew itself up in air based on "available vehicle performance data" after loss of telemetry.
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Tesla’s real struggles have only just begun
The Verge
·
1m ago
Medial
Tesla is facing significant financial and reputational challenges as President Trump's new budget bill threatens billions in regulatory credit sales. CEO Elon Musk, accused of being late to recognize Tesla's mounting crisis, plans to establish a new political party in response. The bill removes tax credits for EVs, raising concerns over Tesla's future sales, with investors worried about Musk's political entanglements further weakening the company's standing.
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Elon Musk backs Jeff Bezos’ editorial shift at Washington Post
Economic Times
·
5m ago
Medial
Elon Musk supported Jeff Bezos' decision to alter the Washington Post’s editorial stance by focusing on “personal liberties” and “free markets.” Musk’s endorsement came as a one-word response, “bravo,” on social media. The shift led to the resignation of opinion editor David Shipley and sparked online debates, with varied reactions to Bezos' new direction. The Washington Post has not officially commented on Shipley's departure or the search for a replacement.
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Gulf Capital marks second exit from its third private equity fund
VCCircle
·
11m ago
Medial
Gulf Capital, a UAE-based private equity firm, has made a profitable exit from its investment in a top glass container manufacturer in the Middle East. The Abu Dhabi-based company, which manages billions of dollars in assets, plans to raise $800 million for its fourth private equity fund.
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Bitcoin hits record high, surpasses $75,000 as Trump leads in US exit polls
Economic Times
·
9m ago
Medial
Bitcoin reached a new all-time high of over $75,000 after early US presidential election exit polls indicated a slight lead for Republican candidate Donald Trump. This surpassed its previous high of $73,750 and reflected a positive response from the market. Trump won eight states while Harris secured three states and Washington, D.C., with the election remaining tight. Bitcoin was trading at $75,060, up 8.4%, while Ether also experienced gains, rising 7.2% to $2,576. Trump's perceived support for cryptocurrencies may have contributed to the market's optimism. The dollar index increased 1.25% to 104.72.
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Elon Musk is lashing out at MacKenzie Scott, Jeff Bezos' ex, for donating billions to charities for women and minorities
Business Insider
·
1y ago
Medial
Elon Musk criticized MacKenzie Scott's charitable donations, suggesting that "super rich ex-wives who hate their former spouse" are a reason for the decline of Western civilization. Musk has been vocal about his opposition to diversity and inclusion efforts. This isn't the first time he has targeted Scott for her philanthropy. Scott, on the other hand, has donated billions of dollars to various organizations supporting underserved communities with a no-strings-attached approach. Musk himself engages in philanthropy through the Musk Foundation, which has donated to causes such as renewable energy and space exploration. Neither Musk nor Scott has commented on this matter.
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Carlyle signs out of India firm in second exit move in two days
VCCircle
·
2m ago
Medial
In a strategic move, private equity firm Carlyle is capitalizing on a stock market rally to exit Indian investments and return capital to its partners. This marks Carlyle's second divestment in as many days, aligning with its efforts to raise a new Asia buyout fund. By monetizing assets amidst favorable market conditions, Carlyle aims to enhance liquidity and support its ongoing investment strategies while maximizing returns for its investors.
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Mutual fund stress tests show delays in exiting small caps
VCCircle
·
1y ago
Medial
Indian asset managers are facing delays of up to 30 days to exit a quarter of their small-cap stock portfolios, as revealed by stress tests conducted by these funds. The tests were carried out ahead of a deadline set by the market regulator, amid concerns of a bubble forming in the small- and mid-cap segments of the market. The delays in exiting holdings could have an impact on the return of funds to investors, who typically expect their money back within two to three days.
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