According to a Bloomberg report, Musk’s xAI only has $4 billion left on its balance sheet out of the $14 billion it has raised since its founding in 2023.
Morgan Stanley’s James Faucette expects the company to raise the bottom end of its 2025 revenue guidance by 100 basis points, layering in longer-duration managed services contracts.
Despite global tensions, Indian markets rallied with broad-based gains across IT, real estate, and metals; Wholesale inflation eased to a 14-month low.
A Reuters report stated that between March and May 2025, nearly 97% of iPhones assembled by Apple's primary supplier in India, Foxconn, were shipped to the U.S.
The stock had gained over 5% after Morgan Stanley upgraded the stock last week, saying MP is the most vertically integrated rare earth metals company ex-China.
The company and its shareholders sold 32 million shares at $27 per share. The IPO price was slightly higher than the earlier marketed range of $24 to $26 per share.
Crude oil futures pulled back below the $68-a-barrel mark after jumping about 5% in the New York session on Wednesday amid escalating geopolitical tensions between the U.S. and Iran.
The analyst expects infrastructure-as-a-service to be in the spotlight again but forecasts a slight disappointment relative to the consensus expectation of $3.1 billion.
Morgan Stanley’s economics team expects a modest push from tariffs, underlined by firmer prices for new cars, apparel, and other goods such as household appliances.
