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The Latest Breaking News from Benzinga

Why Did SpaceX Spend $295 Million on Tesla Batteries? The Latest Filing Offers a Clue as Elon Musk's Companies Grow Even More Intertwined

SpaceX (NASDAQ:SPCX) disclosed that it bought $295 million of Tesla Inc. (NASDAQ:TSLA) Megapack batteries during the second quarter, highlighting the circular flow of capital, hardware and equity across two of Elon Musk’s biggest companies.

Benzinga

Former Tesla Board Member Says xAI Can 'Break In With the Big Boys' Anthropic, OpenAI and Google— but There’s a Catch

Former Tesla Inc. (NASDAQ:TSLA) board member Steve Westly said Elon Musk’s xAI could challenge Anthropic, OpenAI and Alphabet Inc.’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, but warned that entering artificial intelligence’s top tier will demand heavy spending and execution.

Benzinga

JB Pritzker Signs Illinois Insurance Reform Law, Says 'Families Deserve Fairness' Amid Rising Premiums

Gov. JB Pritzker (D.Ill.) signed a new law giving state regulators more power to review and challenge insurance rate increases, aiming to protect residents from excessive premiums and unfair pricing practices.

Benzinga

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Will You Need An ID to Buy Discounted Groceries at Zohran Mamdani’s City-Owned NYC Stores? Here’s What the Proposal Actually Says

New York City shoppers will not need identification to buy discounted food at Mayor Zohran Mamdani’s five planned municipal grocery stores, officials said, rejecting viral claims that the program would verify customers’ identities, residency or income.

Benzinga

Gold Rallies, But New Data Shows It May No Longer Protect You

After coiling up for the entire month of July, gold is finally giving technical indications of a breakout, rallying over 2% intraday and moving toward a key resistance level of $4,200.

Benzinga

Chamath Palihapitiya Says AI Agents Will Undermine 'Bottoms Up' Software Strategy Amid 'IP/Alpha Leakage' Concerns

Venture capitalist Chamath Palihapitiya predicted that the rise of AI agents and growing corporate concerns over data security will fundamentally reshape how enterprises buy software.

Benzinga

Stock Market Today: S&P 500, Dow Futures Gain After Scott Bessent Signals Strait of Hormuz Deal With Iran in Sight— AMD, SpaceX, SanDisk in Focus (UPDATED)

(Editor’s note: The ETFs data was updated and economic data was added.)

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Trump Said 'Let's Do a Beauty'— Then Reportedly Made Crews Rip Up Weeks of Work on His $6 Million Granite Helipad

President Donald Trump ordered contractors to redo weeks of work on the White House’s new granite helipad after objecting to its appearance and seeking a landing pad level with the horizon.

Benzinga

'The Big Short' Investor Michael Burry Holds His Ground on Nvidia, Tesla and Other Shorts— Warns Of 1987-Style Crash: 'It Is Possible We Are Near...'

Michael Burry, famed for predicting the 2008 financial crisis, is maintaining his bearish stance despite the S&P 500 hitting record highs, warning that the market rally could still end in a steep sell-off.

Benzinga

Disney Sells A+E Stake to Hearst Amid Wall Street Calls to Focus on Core Businesses

The Walt Disney Co. (NYSE:DIS) is cashing out of A+E Global Media, agreeing to sell its 50% stake to media conglomerate Hearst for approximately $1.2 billion in cash as investors continue to debate Disney’s long-term media strategy

Benzinga

Stock Market: Will S&P 500 Open Up or Down Today?

The S&P 500 surged to a fresh record close on Tuesday as strong corporate earnings, easing oil prices and optimism over a potential breakthrough between the U.S. and Iran fueled another broad-based rally. Polymarket traders are now overwhelmingly betting the benchmark will extend those gains at Wednesday’s open.

Benzinga

Rand Paul Says COVID Exposed How Quickly Washington Could 'Strip Away Your Basic Freedoms'

Sen. Rand Paul (R-Ky.) criticized the government’s COVID-19 response, arguing that lockdowns, mandates and pandemic-era restrictions revealed how quickly officials could limit individual freedoms during a crisis.

Benzinga

Paramount CEO David Ellison Is 'Highly Confident' Warner Bros. Deal Will Close, Calls Antitrust Lawsuit a Fight Over Trust: 'The Issue Is… CNN'

Paramount Skydance Corp (NASDAQ:PSKY) CEO David Ellison said the antitrust lawsuits brought by 12 states and the Writers Guild are not really about competition, as he expressed confidence in the deal with Warner Bros. Discovery Inc. (NASDAQ:WBD).

Benzinga

Trump Presses Senate to Pass Permanent Daylight Saving Time 'ASAP' Even as Sleep Experts Say That's the Wrong Choice: 'People Are Sick and Tired...'

President Donald Trump urged the Senate to pass the Sunshine Protection Act "ASAP," saying Americans are fed up with changing their clocks twice a year and arguing that permanent daylight saving time would improve safety, health and economic activity.

Benzinga

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SpaceX CEO Elon Musk Thinks People Underestimate Starlink and That Is a 'Big Deal'

Space Exploration Technologies Corp. (NASDAQ:SPCX) CEO Elon Musk said Tuesday that people are underestimating Starlink’s long-term potential and believes the satellite internet network could eventually deliver a majority of the world’s internet traffic in less than a decade.

Benzinga

Bernie Sanders Slams Trump's Economic Agenda, Says It's for the 'Billionaire Class'

Sen. Bernie Sanders (I-Vt.) criticized President Donald Trump’s policy agenda, arguing that proposed spending priorities and changes to benefits would hurt working-class Americans while favoring wealthy individuals.

Benzinga

Hormuz Deal Near? CENTCOM Says Southern Shipping Route Remains 'Free and Open' as Trump Touts 'Very Good' Discussions

The U.S. military said the Strait of Hormuz remains open to commercial shipping, as Treasury Secretary Scott Bessent stated that Washington is close to reaching a deal with Iran.

Benzinga

Elon Musk Ties Tesla's Optimus to Starlink's Next Growth Phase: 'The Appetite for Bandwidth Will Be Much Greater'

Elon Musk said on Tuesday that artificial intelligence (AI), humanoid robots and autonomous vehicles will dramatically increase demand for network bandwidth, arguing the world will need far more connectivity than ever before.

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Benzinga

Scott Bessent Touts 'Strong Relationship' Between Trump, Takaichi as Reports Emerge Japan PM Asked BoJ to Buy Bonds

Japan’s Prime Minister Sanae Takaichi reportedly urged Bank of Japan Governor Kazuo Ueda during a meeting in May to purchase Japanese government bonds if necessary to curb rising long-term interest rates.

Benzinga

Gavin Newsom Says Trump's 'Biggest Concern' Is His 'Botched' Reflecting Pool, While California Tops Federal Minimum Wage: 'We Are Not the Same'

Gov. Gavin Newsom (D-Calif.) criticized President Donald Trump over the White House Reflecting Pool renovation controversy, contrasting the project with California’s minimum wage policies and accusing Trump of focusing on the wrong priorities.

Benzinga

AMD Says Unexpected Demand Is Squeezing Server CPU Supply, But Lisa Su Forecasts a Brighter 2027: ‘Should Be Better Than 2026’

On Tuesday, Advanced Micro Devices, Inc. (NASDAQ:AMD) said stronger-than-expected demand has tightened the server CPU supply chain, but CEO Lisa Su expects conditions to improve in 2027.

Benzinga

Elon Musk Pulls Forward $1 Trillion Revenue Target for SpaceX as Revenue Jumps 92% — 'There's a Non-Zero Chance…'

Elon Musk on Tuesday said that Space Exploration Technologies Corp.’s (NASDAQ:SPCX) in-house forecast for hitting $1 trillion in annual revenue has been pulled forward to 2030 from 2031.

Benzinga

MyPillow Guy Mike Lindell Resigns as CEO to 'Devote' 100% of Time and Energy to Governor Campaign: 'Minnesota Comes First'

MyPillow founder Mike Lindell stepped down as chief executive officer and reduced his ownership stake to focus full-time on his campaign for governor of Minnesota.

Benzinga

Cathie Wood Cashes in on Palantir's 29% Pop as Ark Sells $6.4 Million Worth of Shares — Doubles Down on Spotify After Its Earnings Miss

On Tuesday, Cathie Wood-led Ark Invest executed notable trades involving Palantir Technologies Inc. (NASDAQ:PLTR) and Spotify Technology S.A. (NYSE:SPOT).

Benzinga

Elon Musk Says He Tries to 'Warn' Short Sellers, but They Just 'Double Down' as SpaceX Short Interest Climbs to 34%

Space Exploration Technologies Corp. (NASDAQ:SPCX) reported stronger-than-expected first quarterly financial results as a public company, prompting CEO Elon Musk to mock short sellers after bearish bets against the stock climbed to about one-third of its public float ahead of the earnings.

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