TECH

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Elon Musk's SpaceX has taken a decisive step toward going public after submitting a confidential filing with U.S. regulators, according to people familiar with the matter. The move positions the rocket maker for what could become the largest stock market debut in history.

The company, founded in 2002, has evolved from a bold startup into a dominant force in commercial spaceflight, routinely launching satellites, supporting NASA missions and expanding its Starlink internet network. Its recent merger with artificial intelligence venture xAI has further boosted its perceived value, with estimates now ranging up to $1.75 trillion.

If achieved, that figure would surpass previous IPO records, including Alibaba's landmark debut. It would also place Musk, already the driving force behind Tesla, in an unprecedented position as the leader of multiple trillion-dollar public companies.

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Intel said on Wednesday it will spend $14.2 billion to repurchase the 49% stake in its Ireland fabrication facility previously sold to Apollo Global Management, restoring complete ownership of the site as demand for artificial intelligence computing accelerates.

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A New Mexico court has ordered Meta to pay $375 million for misleading users about the safety of its platforms for children. A jury found the parent company of Facebook, Instagram, and WhatsApp liable for endangering minors by exposing them to sexual predators and explicit material. New Mexico Attorney General Raul Torrez described the verdict as a "historic" first, marking the first time a state has successfully sued Meta over child safety.

A spokeswoman for Meta, led by chairman and chief executive Mark Zuckerberg, said the company disagrees with the verdict and intends to appeal.

She said: "We work hard to keep people safe on our platforms and are clear about the challenges of identifying and removing bad actors and harmful content. We remain confident in our record of protecting teens online."

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A federal judge has halted the Pentagon's attempt to sideline artificial intelligence firm Anthropic, delivering a sharp rebuke to a controversial national security designation that threatened to cut the company off from lucrative government work.

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Closing arguments are scheduled Monday in a landmark trial in New Mexico where social media conglomerate Meta is accused of misleading its users about how safe its platforms are for children.

Jurors will take up the case after the arguments and six weeks of testimony from scores of witnesses that included teachers, psychiatric experts, state investigators, top Meta officials and whistleblowers that left the company.

The case in New Mexico state court is among the first to reach trial in a wave of litigation involving social media platforms and their impacts on children.

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A landmark court verdict in Los Angeles has sent shockwaves through Silicon Valley, marking what many are calling a turning point for the social media industry. A jury ruled that Instagram and YouTube are not only addictive but were deliberately designed that way, and that their parent companies, Meta and Google, were negligent in protecting young users. The ruling ordered the companies to pay six million dollars in damages to a young woman known as Kaley, who said prolonged use of these platforms contributed to serious mental health struggles.

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Facebook is making a bold move to win back the attention of major online creators, offering payments of up to three thousand dollars per month through its new Content Fast Track programme. The initiative targets influencers who already have large followings on competing platforms like TikTok, YouTube, and Instagram.