Business

SpaceX is planning to go public at a valuation that would make it the biggest listing of all time, Bloomberg reports. “The Elon Musk-led company is targeting a valuation of about $1.5 trillion for the entire company” and while they’re saying they plan for next year, it’s a Musk company so you know what that means: “the timing could slip until 2027.” SpaceX expects $15 billion in 2025 revenue, and $22 billion to $24 billion in 2026, mostly due to Starlink.

As Ted Sarandos and David Ellison play out a public spat over whose turn it is to play with Warner Bros., while trying to impress Trump and the regulators along the way, just remember that the real winners at the end will be HBO Max subscribers.

Since Netflix announced that it was the frontrunner to buy Warner Bros., David Ellison’s Paramount Skydance has been getting more hostile in its bids to own the legacy studio. But Semafor reports that Paramount’s tactics have raised eyes in Washington, where some think Ellison is banking on favoritism from Trump’s Justice Department.

After a string of exec departures from Apple, Bloomberg’s Mark Gurman reported a few days ago that Srouji, who oversees the chips that have helped iPhones, Macs, and other devices lead their categories, had discussed leaving for another company.

In the story I wrote about CoreWeave, analyst Gil Luria told me the company has “to keep borrowing more and more because they spend more money than they can get, structurally. They have to continue to borrow to pay interest on the last loan.” Aren’t you glad Nvidia helped them go public?

After launching a hostile bid for the entertainment giant, Paramount’s Ellison told CNBC that Netflix’s deal to buy part of WBD would create a company with “unprecedented market power:”

Warner Bros. has a long history of bad buyouts and mergers, but maybe Netflix co-CEO Ted Sarandos has been watching a little too much Arrested Development on his own platform.

Despite Netflix co-CEO Ted Sarandos’ efforts to woo the president last month, Trump said on Sunday that plans to combine the streamer with Warner Bros. “could be a problem.” Trump said that Netflix already has a “very big market share,” which will “go up by a lot” if the $83 billion buyout goes ahead.

Alex Karp — the CEO of Palantir, the not-a-surveillance company put forward by Elon Musk’s DOGE to supply the US government with software that allows ICE to track immigrants — is very offended that anyone would suggest he is running a surveillance company.

Multiple sales teams lowered how much salespeople are expected to grow annual sales of Foundry and other AI products, reports The Information, citing sources who called the move “rare.”

The Italian software company just announced billion-dollar deals to purchase AOL and Vimeo, and now it has reached an agreement to acquire Eventbrite for $500 million. Bending Spoons has added several other digital businesses to its portfolio in recent years, including Evernote, Meetup, Filmic, WeTransfer, and TapeACall.

Along with pro-AI, pro-pollution, and pro-surveillance plans, the spending bill signed in July introduced investment accounts for children with $1,000 contributed for US citizens born from 2025 through 2028. Today, Michael and Susan Dell announced they would also contribute:

Fresh off a settlement with the DOJ over its software allegedly enabling landlord collusion to raise rents, RealPage is now suing the state of New York over a new law that bans algorithmic rent pricing, claiming it violates the company’s First Amendment rights.

Samsung promoted its head of consumer hardware to co-CEO, joining Young Hyun Jun, head of the memory business. Roh led mobile since 2020, taking on TVs and appliances in an acting role this year, which is now permanent too.

Everyone expected drama after Ubisoft delayed its financials at the last minute — a sale, a disruption to the Tencent deal, something else!? — but the reality is less thrilling.

Last week, Ubisoft delayed releasing its most recent earnings report and asked European markets to stop trading its shares. This week, the company says it’ll release the report before trading opens on November 21st. So whatever’s going on over there, we’ll find out soon enough.

After CEO Sam Altman was fired and then unfired from OpenAI, Larry Summers was added to OpenAI’s board to replace the board members that had nixed Altman. In recently-released email messages, Summers seeks advice from Epstein on pursuing a woman he describes as a “mentee.” Hm!

American Telephone & Telegraph says it has deployed the $23 billion worth of mid-band spectrum it acquired from EchoStar to nearly 23,000 cell sites in the continental US, which is now boosting 5G download speeds “by up to 80 percent.” Ya’ll seeing a difference?

Despite a $50 price hike to offset Trump’s tariffs, Sony shipped 3.9 million PS5 units globally in the recent quarter (up slightly from 3.8 million last year) with help from Ghost of Yōtei sales that reached 3.3 million after just one month. Lifetime shipments now sit at 84.2 million consoles after five years, putting it roughly in line with the PS4.