TNB Tech Minute: SpaceX Shares Dip Below IPO Price for the First Time
episodeTranscript
jump: chapters · speakers · find in transcriptTranscript
Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
Deloitte expects the space economy to reach $2 trillion by 2035. Jason Gersatas, CEO of Deloitte US, says that growth is fueled by data and its application for businesses across industries.
What's exciting is that the data and the analytic and the commercial application of the data will move to be more mainstream. It will be something that organizations of any size can benefit from the data that's being emitted from space that could be pertinent to their operations.
Visit Deloitte.com to learn how the space economy is creating new opportunities.
Here's your afternoon TNB Tech Minute for Wednesday, July 15th.
Why did SpaceX shares fall below the IPO price and what does it indicate for investors?
I'm Pierre Bien-Aimé for The Wall Street Journal. SpaceX shares traded below their IPO price of $135 for the first time today, in a sign of waning enthusiasm for the biggest listing of all time. Shares slipped more than 2.5% to roughly $132 in trading before rebounding slightly. The rocket maker is listed on the tech-heavy Nasdaq.
How might the upcoming Starship test flight affect SpaceX’s market outlook?
Shares of tech companies have been volatile in the past month. Investors will be watching the next test flight of SpaceX's Starship rocket, a mission the company may launch tomorrow evening. SpaceX has been pouring money into the vehicle, which is key for its AI and satellite communications plans. Australia plans to require data centers to underwrite their electricity and water supplies. The country's Prime Minister Anthony Albanese said today the government will soon introduce a set of standards for AI providers. The new standards will set out rules for large data centers, including a legal obligation to source their own new power supply, pay their full share of connection costs so consumers' energy bills aren't affected, reduce power when needed to strengthen the power grid, and be as water efficient as possible.
Albanese said the government will establish an office of AI to accelerate implementation of the industry standards on a national level. The national cabinet will discuss the new standards in August, and legislation is expected early next year.
What new rules is Australia proposing for data centers’ power and water responsibilities?
And a group of Meta employees is suing the social media company over how it carried out layoffs this spring, alleging that it used AI that disproportionately cut workers with disabilities or on protected leave. The federal lawsuit was filed this week in the Northern District of California. It's one of the first in the U.S. to scrutinize the potential role of AI in determining layoffs. Meta began laying off 8,000 employees, or roughly 10% of its workforce, in May. A company spokesman rejected the allegations and said workforce management decisions were made by people, not AI. And that's it for your TNB Tech Minutes.
How will Australia’s planned office of AI and industry standards impact AI providers?
We'll have another quick tech update in the morning.
Access to affordable credit helps me pay my employees, but I don't really need it.
Inflation is killing me. But who cares?
What are the allegations in the Meta lawsuit claiming AI-driven discriminatory layoffs?
Big retailers are making record profits. That's why we support the Durbin Marshall credit card bill. See?
Banks and credit unions help small businesses make payroll. This bill would cut the vital resources they need.
While increasing megastore profits. They deserve it, don't they?
Tell Congress, stop the Durbin Marshall money grab for corporate megastores. Paid for by the Electronic Payments Coalition.
No segments match your search.
Select any passage to copy it with its citation or turn it into a shareable card.
Chapters
6 chapters
1
What is the main topic discussed in this episode?
0:00–0:36
2
Why did SpaceX shares fall below the IPO price and what does it indicate for investors?
0:36–0:57
3
How might the upcoming Starship test flight affect SpaceX’s market outlook?
0:57–1:56
4
What new rules is Australia proposing for data centers’ power and water responsibilities?
1:56–2:31
5
How will Australia’s planned office of AI and industry standards impact AI providers?
2:31–2:43
6
What are the allegations in the Meta lawsuit claiming AI-driven discriminatory layoffs?
2:43–3:05
Speakers
2 identifiedMore from WSJ Tech News Briefing
AI Therapists Are Here. Are They Safe?
TNB Tech Minute: California Gov. Issues Executive Order to Weigh AI Oversight
TNB Tech Minute: Top OpenAI and Microsoft Staff Knew Scraping News Websites was an ‘Existential Threat’
How OpenAI Built a Billion-Dollar Ad Engine
TNB Tech Minute: The FAA to Use AI to Ease Air-Traffic Woes, Starting in D.C.
TNB Tech Minute: OpenAI Shares New Safety Incidents and Rules for Reporting Them