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Unity surges on partnership with its biggest development rival, “Fortnite” maker Epic Games

Epic and Unity Software, two fierce game development rivals, have announced a partnership to bring games made on Unity’s engine to “Fortnite.” Unity shares surged on the announcement.

Epic has made an effort in recent years to become more of a platform, filled with user-created islands similar to Roblox. Epic CEO Tim Sweeney told the Verge that the Unity partnership will “greatly expand the developer base.”

According to the announcement, developers will have the ability to publish Unity games on “Fortnite” and become a part of the game’s creator economy.

“Just like the early days of the web, we believe that companies need to work together in order to build the open metaverse in a way that’s interoperable and fair,” Sweeney said in a statement.

At the end of last year, Epic said it had 70,000 creators that had made 198,000 islands. Unity’s more than 1.2 million monthly active users have the potential to vastly expand those numbers. Shares of Roblox fell following the news, trading down more than 6% on Wednesday.

According to the announcement, developers will have the ability to publish Unity games on “Fortnite” and become a part of the game’s creator economy.

“Just like the early days of the web, we believe that companies need to work together in order to build the open metaverse in a way that’s interoperable and fair,” Sweeney said in a statement.

At the end of last year, Epic said it had 70,000 creators that had made 198,000 islands. Unity’s more than 1.2 million monthly active users have the potential to vastly expand those numbers. Shares of Roblox fell following the news, trading down more than 6% on Wednesday.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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