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Trade Wars
SpaceX Plans To Set IPO Price At $135 Per Share, Targeting Record $75 Billion Raise, Source Says
In a surprise move ahead of its investor roadshow, Elon Musk's SpaceX plans to fix its IPO price at $135 per share to raise a record-setting $75 billion, according to a source familiar with the matter. The rocket and satellite communications company plans to sell 555.6 million shares, the source said. It is aiming for a valuation of $1.75 trillion, two other people said. Companies planning to go public typically set a price range to frame valuation expectations and allow pricing to be adjusted based on investor demand. Strong demand can push the final price to the top of the range, or above it, ahead of the market debut.
The company's valuation relies on SpaceX dominating technologies and markets that do not yet exist – from Mars missions to AI data centers in space. Reuters previously reported that the company is considering allocating as much as 30% of the offering to individual investors, an unusually large retail tranche aimed at tapping into Musk's cult-like following and broadening ownership of the company. The IPO is expected to be structured as an all-primary offering, meaning all proceeds would go to the company and existing SpaceX shareholders will not be able to sell any of their shares in the IPO, the sources said. Proceeds of the IPO will be used for purposes including expanding AI computing resources and SpaceX's satellite network, the source added.
Read more at Reuters
Unilever to Test Quantum Computing in U.S. Innovation Center
Unilever is aiming to unlock new advances in technologies such as AI and quantum computing through a new global innovation center. Located in New Haven, Connecticut, the center will house research and development efforts for the company's beauty, well-being and personal care power brands — categories that currently represent 51% of Unilever's business and will grow to two-thirds. " With faster materials discovery, product testing and development — and with each stage of the innovation cycle (formulation, fragrance creation, packaging design, consumer insights) under one roof — Unilever expects to get products to market faster.
The innovation hub will include:
- A global center for skin care and cleansing, as well as a polycultural skin and hair center of excellence, which specializes in creating ingredients and products that address unmet consumer needs.
- A human performance lab that will generate new data and insights into human physiology, enabling on-site testing of ingestibles.
- A Unilever fragrance house where perfumists, chemists and packaging designers will work together from the earliest stages of development to product creation and developing sensory experiences.
- A packaging innovation studio that incorporates real-time consumer feedback to enable the faster development of packaging prototypes.
Read more at the WSJ
Novelis Aluminum Plant To Resume Operations Following Fire Damage
Novelis’ largest aluminum plant will resume hot mill operations sooner than expected following two fires last fall, CEO Steven Fisher said on an earnings call Tuesday. The company has already started commissioning the Oswego, New York, location, and will have coils coming off the mill in the next few weeks to support “pent-up” demand in the automotive and beverage packing industries, Fisher said.
Novelis expects a “total negative cash flow impact” of $1.7 billion from the fires, including repair, clean-up and idle worker costs, according to an investor filing. The September and November fires primarily affected Oswego’s hot mill, finishing and motor room areas. No injuries were reported from the incidents. While Oswego’s hot mill operations have been idle over the past several months, Fisher said Novelis has focused on recovery and mitigation efforts by rerouting shipments globally and leveraging alternative sourcing to meet customer demand.
Read more at Ward’s Auto
Testing Starts for The Airbus A350-1000ULR, The Longest-Range Commercial Jet
Airbus completed the first test flight for a custom-designed aircraft that will have the longest range for any commercial jet capable of completing flights of nearly 10,000 nautical miles (18,520 km / 11,508 miles) without refueling. The Airbus A350-1000ULR is the first of 12 ultra long-range aircraft being developed for Australia’s Qantas Airways, which aims to offer non-stop service from Sydney to London, or potentially to New York.
The -1000ULR is the fourth variant of the A350 twin-engine widebody aircraft, powered by twin Rolls-Royce Trent XXWB high-bypass turbofan engines. The jet builder is preparing to introduce a cargo jet version, the A350F, later this year. For the A350-1000ULR, Airbus incorporated an extra fuel tank (rear center tank), which - together with interior design details to enhance passenger comfort for flights of up to 22 hours reduces the capacity from more than 300 passengers on other A350 models to just 238 passengers in a four-class cabin arrangement. The test flight for the first A350-1000ULR (MSN 707) was conducted over three hours, 43 minutes at Airbus headquarters in Toulouse, France. Outfitted with special test flight instruments, MSN 707 reached an altitude of just over 41,000 feet.
Read more at American Machinist
Stellantis Turns To Industry Partners For Developing Its Next-Gen Vehicle Platform
Among the major announcements at Stellantis’ Investor Day event on May 21 was the unveiling of its new STLA One vehicle platform the automaker plans to utilize for over 30 Stellantis models totaling 2 million units by 2035. The new vehicle platform will be a key part of Stellantis’ new five-year strategy to accelerate growth and profit, which includes a planned investment of up to 60 billion euros (approximately $70 billion).
But like other automakers working to launch new software-defined vehicles and advanced levels of autonomous driving technology, Stellantis has tapped the specialized expertise of industry partners, including Qualcomm Technologies and Applied Intuition. “Speed, scalability and quality are critical as we bring new technologies to our vehicles,” said Ned Curic, Stellantis’ Chief Engineering and Technology Officer, in a statement. “Our collaboration with Applied Intuition helps us accelerate the development of a common software foundation across our technology platforms. For customers, this means a faster delivery of new features, a more seamless in-vehicle experience and continuous improvement over time.”
Read more at Ward’s Auto
UAW Strike Against GM Axle Supplier Continues Without Talks, Union Official Says
Negotiations between a General Motors pickup truck axle supplier and the United Auto Workers have not taken place since the union launched a strike against the company on Sunday, according to a local union negotiator. Josh Jager, a 24-year employee and bargaining chairman for Local 2093, the UAW chapter representing about 1,000 union workers at the plant, said on Tuesday that the company, Dauch Corp, has not called to resume negotiations. The union handed a contract proposal to the company on Sunday night, he said. The union is seeking wage increases, better work-life balance issues addressed, and its healthcare benefits maintained.
A majority of the axles made at the Three Rivers plant are sent to GM's Flint, Michigan, heavy-duty truck plant, Jager said. The plant also supplies GM's Wentzville, Missouri, factory, where GM makes midsize trucks and commercial vans, according to sources. Jager and other sources have said GM has about two weeks of axle supplies to continue production. The union has seen about 250 salaried workers going into the plant to make axles, Jager said. A GM spokesperson said its truck production continued on Tuesday, but did not directly address the current level of axle supplies.
Read more at Reuters
US Nuclear Fuel Enricher Scales Up to Offset Russia Uranium Ban
Urenco USA, the only commercial-scale nuclear fuel producer in the US, aims to lift its capacity to make enriched uranium by almost 50% through a multibillion expansion project as America moves to wean itself off of Russian uranium. The British, Dutch and German consortium announced plans on Tuesday to expand its enrichment facility in Eunice, New Mexico. Urenco aims to have its plant update operational in six years, helping address concerns of possible fuel shortages at US nuclear sites amid a ban on Russian uranium.
Urenco’s expansion plans come as the Trump administration pushes to quadruple output from US nuclear plants, which will require a leap in uranium fuel production to meet that challenge. The US has been racing to provide huge amounts of electricity for AI data centers, with nuclear power emerging as one of the big winners. Still, the Energy Information Administration said last September that owners and operators of US reactors face possible uranium shortages over the next decade. While Russia dominates the global market for the nuclear fuel — the nation supplied around a fifth of US demand two years ago — the US banned imports of Russian uranium in 2024, though there are allowances for limited waivers until 2028.
Read More at Yahoo Finance
DOE Issues Grid Reliability Orders Ahead of Summer
As summer approaches, power system reliability is drawing increased attention. During May 2026, the U.S. Department of Energy (DOE) issued a series of emergency orders under Section 202(c) of the Federal Power Act, directing grid operators and generators to maintain availability of specific power plants across multiple regions including PJM and MISO. Most orders extend through the summer peak period.
The measures are targeted in scope, focusing primarily on ensuring that select coal- and gas-fired units remain available to support system operations when needed. In some cases, orders also authorize the use of backup generation resources or reinforce transmission and operational readiness. Many of the orders include provisions for economic dispatch, reinforcing a focus on maintaining cost-conscious system operations while preserving flexibility. These actions reflect ongoing coordination between federal agencies, grid operators, and asset owners to support reliable service during periods of higher seasonal demand.
Read more at The DOE
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