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Space stuff: We’re launching more stuff into orbit... way more

Space stuff: We’re launching more stuff into orbit... way more

Hard launch

We are launching more stuff into space than ever before. Indeed, us Earth-dwellers launched a record-breaking 2,664 objects into space last year… with the US — be that American companies or government agencies — responsible for 81% of them.

That’s per recent numbers from the United Nations Office for Outer Space Affairs (UNOOSA), via Our World in Data, which revealed that the number of objects launched into space (everything from satellites to crewed spacecrafts) rose by almost 200 in 2023.

Brave new world

Decades on from the space race, the boom in launches has been variously attributed to lower launching costs, cheaper parts to build satellites and spacecrafts, and the rise of the private space industry, with companies like Elon Musk’s SpaceX turning space exploration — that used to be a government-only-affair — into big business. As of last December, Musk’s company was responsible for more than 80% of commercial space launches in the US in 2023.

While there’s clearly rapid progress being made in the space space, some are starting to ask at what cost: for example, piles of junk and debris have been amassing over decades as Earth-orbiting objects deteriorate, which could artificially brighten the night sky and cause other unwanted side effects.

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Norway’s wealth fund, Tesla’s sixth-largest institutional investor, votes against Musk’s pay package

Norway’s Norges Bank Investment Management, the world’s largest sovereign wealth fund, said Tuesday that it voted against Tesla CEO Elon Musk’s $1 trillion pay package, ahead of the EV company’s annual shareholder meeting Thursday. The fund, which has a 1.2% stake in Tesla, is the company’s sixth-largest institutional investor, according to FactSet, and the first major investor to disclose how it voted on the matter.

Tesla is down nearly 3% premarket, amid a wider pullback in equities that’s most pronounced in AI-related stocks.

“While we appreciate the significant value created under Mr. Musk’s visionary role, we are concerned about the total size of the award, dilution, and lack of mitigation of key person risk- consistent with our views on executive compensation,” NBIM said in a statement.

Tesla’s board considers Musk’s mammoth, performance-based pay package necessary to retain Musk. For what it’s worth, prediction markets are quite certain investors will pass the proposition.

Tesla is down nearly 3% premarket, amid a wider pullback in equities that’s most pronounced in AI-related stocks.

“While we appreciate the significant value created under Mr. Musk’s visionary role, we are concerned about the total size of the award, dilution, and lack of mitigation of key person risk- consistent with our views on executive compensation,” NBIM said in a statement.

Tesla’s board considers Musk’s mammoth, performance-based pay package necessary to retain Musk. For what it’s worth, prediction markets are quite certain investors will pass the proposition.

tech

Waymo to expand robotaxi service to Detroit, Las Vegas, and San Diego

Google’s Waymo robotaxi service is expanding to three new cities — Detroit, Las Vegas, and San Diego — where it has previously tested its driverless vehicles. Waymo plans to bring its Jaguar I-Pace and Zeekr RT vehicles to those three markets this week, but they won’t be immediately available to the public.

Currently Waymo is available in five US cities: Atlanta, Austin, Los Angeles, Phoenix, and San Francisco.

Tesla is currently testing in Las Vegas, while Amazon’s Zoox has limited service in the city.

Currently Waymo is available in five US cities: Atlanta, Austin, Los Angeles, Phoenix, and San Francisco.

Tesla is currently testing in Las Vegas, while Amazon’s Zoox has limited service in the city.

tech

Microsoft pledges $8 billion for data centers, cloud computing in UAE

Microsoft announced another large AI-related investment in the United Arab Emirates today, pledging $7.9 billion for data centers and cloud computing.

The deal adds to the $7.3 billion it has already poured into the Gulf state, including a $1.5 billion equity stake in G24, the country’s sovereign AI company.

Microsoft President Brad Smith said in a post on X:

“This reflects a shared vision for AI innovation, economic growth, and ensuring that the benefits of AI are diffused broadly. Microsoft is committed to the future of the UAE and the strong ties between our two nations.”

Microsoft had previously been approved by the Biden administration to send the equivalent of 21,500 of Nvidia’s less powerful A100 GPUs. The Trump administration, which has made a big push for investments in the UAE since President Trump’s visit in May, recently approved shipments of several billion dollars’ worth of Nvidia chips to the nation.

The new deal involves the equivalent of 60,400 A100 GPUs, which include some of the state-of-the-art GB300 GPUs.

Microsoft President Brad Smith said in a post on X:

“This reflects a shared vision for AI innovation, economic growth, and ensuring that the benefits of AI are diffused broadly. Microsoft is committed to the future of the UAE and the strong ties between our two nations.”

Microsoft had previously been approved by the Biden administration to send the equivalent of 21,500 of Nvidia’s less powerful A100 GPUs. The Trump administration, which has made a big push for investments in the UAE since President Trump’s visit in May, recently approved shipments of several billion dollars’ worth of Nvidia chips to the nation.

The new deal involves the equivalent of 60,400 A100 GPUs, which include some of the state-of-the-art GB300 GPUs.

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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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