Walmart Reaches Trillion-Dollar Market Cap, Musk Merges SpaceX and xAI, and Microsoft Enters AI Licensing Market
Walmart's stock surge propelled the company to a $1 trillion market valuation for the first time on Tuesday, while Elon Musk announced the merger of SpaceX and xAI in a deal valued at $1.25 trillion, and Microsoft unveiled plans to build an AI content licensing app store.
Walmart shares rose in Tuesday morning trading, reaching a new high as the company's stock increased by 2.1 percent, according to Al Jazeera. The surge was attributed to the news of a new CEO and anticipated trade negotiations with India, where Walmart has a significant presence in both supply chain and domestic markets.
In the tech world, Elon Musk announced on Monday the merging of SpaceX and xAI, according to The Verge. Musk stated the reason for the merger was to build data centers in space. The Verge noted that SpaceX is currently profitable, while xAI is reportedly burning approximately $1 billion per month.
Microsoft revealed its plans to create the Publisher Content Marketplace (PCM), an AI licensing hub designed to streamline the process for AI companies to license content from publishers, according to The Verge. Emma Roth of The Verge reported that the PCM would display usage terms set by publishers, enabling AI companies to easily establish deals for using online content to train their AI models, while ensuring content owners receive compensation.
In other tech news, Skyryse, an aviation automation startup based in El Segundo, California, secured over $300 million in a Series C investment, TechCrunch reported. The funding round, led by Autopilot Ventures, values the company at $1.15 billion, pushing it into unicorn status. TechCrunch noted that the capital will be used to integrate Skyryse's operating system, SkyOS, across various aircraft, including U.S. military Black Hawk helicopters, as the company nears the end of the Federal Aviation Administration certification process for its flight control system.
Meanwhile, Nintendo's Switch console has become the company's best-selling console and its most transformative, according to The Verge. Andrew Webster of The Verge reported that the Switch era has marked a period of increased ambition for Nintendo as an entertainment company.
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