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Sources say Elon Musk’s SpaceX is seeking an IPO valuation of at least $1.8 trillion, down from earlier reports of $2.0 trillion after consultations with advisers and investors. The company could begin its roadshow as soon as June 4 and price as earl

2026-05-29

Sources say Elon Musk’s SpaceX is seeking an IPO valuation of at least $1.8 trillion, down from earlier reports of $2.0 trillion after consultations with advisers and investors. The company could begin its roadshow as soon as June 4 and price as early as June 11, though the timetable, deal size and valuation remain subject to investor feedback and may shift; SpaceX could raise its target during the roadshow. Prospectus shows 2025 revenue of $18.7 billion (2024: $14.0 billion) and a swing from a $791 million profit in 2024 to a $4.94 billion loss in 2025. In February SpaceX announced acquisition of XAI; that deal had implied about a $1.0 trillion valuation for SpaceX and $250 billion for XAI.

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2026-05-29

China's National Climate Center says equatorial central-eastern Pacific sea surface temperatures entered El Niño in May. The event is expected to develop into a moderate-or-strong El Niño in summer–autumn and peak in autumn–winter, with rising odds o

China's National Climate Center says equatorial central-eastern Pacific sea surface temperatures entered El Niño in May. The event is expected to develop into a moderate-or-strong El Niño in summer–autumn and peak in autumn–winter, with rising odds of a strong event; it is likely to decay by next spring. El Niño is in a rapid development phase this spring–summer and the atmosphere is responding markedly, favoring a strengthened northwest Pacific subtropical high that will steer increased moisture into China, especially boosting rainfall south of the Yangtze River, while much of the country will see temperatures above normal.
2026-05-29

A report says China had set up 1,513 government investment funds by end-2025 with combined scale of about 6.56 tln yuan. Beijing–Tianjin–Hebei ranks first by cumulative scale; the Yangtze River Delta has the most funds. New fund formation has slowed

A report says China had set up 1,513 government investment funds by end-2025 with combined scale of about 6.56 tln yuan. Beijing–Tianjin–Hebei ranks first by cumulative scale; the Yangtze River Delta has the most funds. New fund formation has slowed but average single-fund size rose to 8.65 bln yuan in 2025, up from about 2–4 bln before 2019. Government funds are increasingly active as LPs and are directing capital mainly into hard tech; reinvestment constraints have been relaxed, exit channels diversified, and due-diligence and exemption loss-tolerance mechanisms are being rolled out, easing prior reluctance to invest.
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