Good morning, you're listening to Markets Desk.
Elon Musk is promising every child in America a share of SpaceX, a gesture that sounds generous until you do the math. Spread across seventy-two million kids, the total gift would run roughly ten point seven billion dollars, and it raises immediate questions about valuation, liquidity, and whether private company equity means anything to a ten-year-old without a brokerage account.
That SpaceX headline connects directly to a longer-running conversation on Wall Street about a potential SpaceX-Tesla merger. Analysts are increasingly uneasy about what such a deal would actually look like on a balance sheet. The two companies operate in entirely different industries with different capital structures, different regulatory environments, and different investor bases, making any combined valuation deeply difficult to model and potentially impossible to price cleanly.
Meanwhile, the broader AI trade is showing its first real cracks. Investors have poured capital into artificial intelligence positions for years with near-religious conviction, but doubts are accumulating. Global markets are pulling back as oil prices rise and traders digest earnings from Meta and Tesla, suggesting the consensus that AI answers every question is finally getting a second look.
That's the tape. Markets Desk, signing off the floor.
