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Rani Molla

Prediction markets think Tesla investors will approve CEO Elon Musk’s $1 trillion pay package on Thursday

Polymarket users are highly convinced that Tesla investors will approve CEO Elon Musk’s $1 trillion pay package later this week, with the market-implied likelihood on the event contract at one point stretching above 97% today, though it’s since come down to around 94%.

Of course, even if investors approve his 2025 CEO Performance Award at the November 6 shareholder meeting, that doesn’t necessarily mean Musk will get the full payout. The deal is performance-based and requires Musk and Tesla to hit a number of lofty goals over the next decade, including:

  • Boosting the company’s market cap to $8.5 trillion from today’s $1.46 trillion.

  • Delivering 1 million AI robots (it has so far delivered none).

  • Having 1 million robotaxis in commercial operation (there are currently about 30 in Austin without a Tesla employee in the driver’s seat).

Tesla’s board and Musk have been loudly campaigning for the pay package’s approval. Board Chair Robyn Denholm wrote in an investor letter last week that it’s integral to keeping Musk. Musk himself took over the company’s earnings call last month to argue that the 29% voting control that’s part of the pay package would be integral to guiding Tesla’s development of AI robots.

“If we build this robot army, do I have at least a strong influence over that robot army?” Musk said.

Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.

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Report: OpenAI in early talks for new fundraising round with $750 billion valuation

Just yesterday, we were reading about how Amazon was in talks to invest as much as $10 billion in OpenAI, with an eye-popping valuation of more than $500 billion. But those numbers might already be old.

A new report by The Information says that OpenAI is in early talks to raise as much as $100 billion, with a $750 billion valuation.

The company is reportedly estimating its fast-growing revenue will hit $100 billion by 2028, but it also expects to burn $115 billion in cash through 2029.

OpenAI Has Discussed Raising Tens of Billions at Valuation Around $750 Billion

OpenAI Has Discussed Raising Tens of Billions at Valuation Around $750 Billion

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Rani Molla

Trump Media surges after announcing it is merging with fusion energy company TAE Technologies

Perhaps a strong late candidate for weirdest merger of the year, Trump Media — owner of Truth Social — is combining with fusion energy company TAE Technologies in a $6 billion all-stock deal.

As part of the deal, Trump Media will provide up to $200 million of cash to TAE at signing, with an additional $100 million available once the initial filing of the Form-S4 is completed (form for registering new securities).

The deal will create “one of the world’s first publicly traded fusion companies,” per the press release revealing the combination, which also states:

“In 2026, the combined company plans to site and begin construction on the world’s first utility-scale fusion power plant (50 MWe), subject to required approvals. Additional fusion power plants are planned and expected to be 350 – 500 MWe.”

The announcement sent Trump Media shares up as much as 30% in premarket trading on Thursday, though it’s since shed some of that bump, holding above a 20% gain as of 7:30 a.m. ET.

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