Elon Musk announces plan to give 'every kid in America' a share in SpaceX stock

Elon Musk, the world's richest man and founder of SpaceX, announced on Monday that he plans to give one share of his aerospace company, SpaceX, to every child in the United States next year, a pledge estimated to be worth approximately $10.5 billion.

According to the latest estimates from the us Census Bureau, approximately 72 million children under the age of 18 live in the United States. Distributing one share to each child would therefore require Musk to transfer approximately 72 million Spacex shares. musk's announcement follows a series of similar pledges by leading figures in the us technology industry to share some of the enormous wealth accumulated by their companies with the public. his statement came in response to an announcement by artificial intelligence company Anthropic just 12 hours earlier, in which it pledged to donate 5% of its shares to a new fund dedicated to public welfare.

The maker of the Claude ai Chatbot said the initiative would allow it to make substantial donations to nonprofit organizations or provide "direct distributions" to certain populations.

The giveaway is unrelated to, but is consistent with, the concept behind the new so-called Trump accounts that the Federal Government will seed with $1,000 for every child at birth.

Reference Sources

1. israelnationalnews - Elon Musk pledges $10.5 billion in SpaceX shares to every child in America
2. usatoday - Elon Musk's pledge could give 73 million children SpaceX stock
3. wsj - Elon Musk Beats Anthropic on Giveaways
4. ynetnews - Elon Musk announces plan to give 'every kid in America' a share in SpaceX stock
5. axios - Musk pledges 1 SpaceX share for every child in America

US Bans Chinese AI Firm Deepseek From Federal Civilian Networks Over Security Risks

The US Department of Homeland Security has banned Chinese artificial intelligence firm Hangzhou Deepseek from Federal civilian agency networks, citing espionage and Cybersecurity risks amid intensifying technological rivalry with Beijing. Department of Homeland Security general counsel James Percival warned that the company's servers operate in China, where domestic legislation "permits extensive authority to government Cyber and intelligence functions to access private company infrastructure." The directive cautioned that the platform's interactive structure could expose sensitive operational queries to foreign Interception.

It warned that transferring information to China "could produce actionable intelligence on US persons and/or government programmes."

Deepseek is one of China's leading and best-known AI companies, and its Open-Source models are widely available in countries including the United States.

Reference Sources

1. bernama - US Bans Chinese AI Firm Deepseek From Federal Civilian Networks Over Security Risks
2. cnbc - U.S. bans DeepSeek from government agency systems amid AI rift with China
3. usnews - China Defends DeepSeek After US Ban of Its AI From Government Systems
4. aawsat - US Bans Use of China’s DeepSeek by Govt Agencies
5. wsj - DHS Orders DeepSeek Technology Removed From Federal Civilian IT Systems

Apple gets a downgrade from Loop Capital on fears of slow iPhone sales

Loop Capital has downgraded Apple to hold from buy and lowered its price target on shares to $330 from $370, suggesting about 4% downside from Monday's close.

The investment firm believes Apple is on pace to miss revenue expectations tied to its iPhones, so investors should think twice before adding exposure to the Tech giant. Loop Capital's downgrade goes against the consensus on Wall Street. Of the 43 analysts covering Apple, 25 rate the stock a buy or strong buy, while 14 rate it a hold.

Apple shares slipped around 1% following the downgrade.

Reference Sources

1. cnbc - Apple gets a downgrade from Loop Capital on fears of slow iPhone sales

The CommonWealth English daily news digest is a service curated by CommonWealth English team with the help of AI tools.  

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