Fox Bought Roku
Fox has taken control of Roku’s streaming platform, which reaches more than 100 million US households. The acquisition gives Fox a major foothold in streaming distribution. (theverge.com)
Tesla and SpaceX lose over $420B in combined market cap in the two days
cnbc.com84 points66 comments
Tesla and SpaceX shed more than $420 billion in combined market value during the two trading days after the U.S. midterm elections, amid a broader technology-stock sell-off and investor concerns about political and regulatory risks. On Thursday, Tesla shares fell about 11% and SpaceX shares about 9%; by the close, their combined losses since Tuesday’s close were reported at roughly $456 billion. Elon Musk’s fortune also fell by about $90 billion in a week, taking it below $800 billion, though he remained the world’s richest person.
The political shift may complicate Musk’s plans: Democrats won control of both chambers of Congress, and Texas elected Democrats James Talarico and Gina Hinojosa, defeating Musk allies Ken Paxton and Greg Abbott. Musk had contributed more than $470 million to Republican candidates and causes, most of whose supported candidates lost. Analysts expect possible congressional scrutiny and tougher rules for the companies’ Texas AI and data-center projects. Hinojosa campaigned for a pause on new data-center approvals pending stronger protections for water, electricity costs, local authority and incentives. Potential delays or added costs could affect SpaceX’s computing expansion and the planned Terafab complex. Scrutiny could also hinder a proposed Tesla-SpaceX merger. Separately, SpaceX has been told to preserve records related to Starlink restrictions in Ukraine that reportedly hampered the country’s defense against Russian attacks.
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