Markets

Elon Musk becomes world’s first trillionaire following SpaceX IPO

Elon Musk’s SpaceX began trading at $150 a share on Friday, above its listing price of $135 a share, making him the world’s first-ever trillionaire following the IPO. The rocket and satellite company raised a record $75 billion, valuing the company at about $1.8 trillion, pushing the value of Musk’s…

Meta’s Instagram and Facebook hit by outages

Facebook and Instagram were suffering from widespread outages on Friday morning.Outage reports spiked on the third-party website DownDetector.com.”We’re aware people are currently having trouble accessing our services,” Meta’s communication director, Andy Stone, said in a post on X. “We’re working on it.” Meta’s systems dashboard page also showed “high disruptions”…

What smart people are saying about rising AI costs

CIOs are worried their AI budgets are starting to max out with nothing to show for the costs incurred.Uber COO Andrew Macdonald gave voice to the growing concerns when he said in May that he’s yet to see direct improvements in line with AI spending.The rise of budget consciousness stands…