Latest news with #SpaceX
Yahoo
18 minutes ago
- Business
- Yahoo
This Space Stock Just Got a New Street-High Price Target
Space exploration is no longer the exclusive domain of governments. Thanks to rising private sector involvement, the industry is on track to become a multi-trillion-dollar economic force. Consulting powerhouse McKinsey & Company projects that space-related activity could inject a staggering $1.8 trillion into the global economy by 2035, driven largely by the rapid expansion of satellite networks and their far-reaching impact across various industries on Earth. That said, while Elon Musk's SpaceX remains a leading force in this domain, its private status keeps it out of reach for everyday investors. And that's where Rocket Lab (RKLB) enters the picture. As one of the only independent space providers capable of competing in the same orbit as SpaceX, Rocket Lab's stock has wooed investors thanks to improving fundamentals, an expanding space systems portfolio, frequent launches, and growing industry credibility. More News from Barchart Here's What Happened the Last Time Novo Nordisk Stock Was This Oversold As SoFi Raises 2025 Guidance, Should You Buy, Sell, or Hold SOFI Stock Here? Earnings Will Be 'Worse Than Expected' for UnitedHealth. How Should You Play UNH Stock Here? Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. In fact, Wall Street is certainly beginning to take note. Citi analyst Jason Gursky recently raised his price target on Rocket Lab to a new Street high of $50, well above the prior $33 target, highlighting rising confidence in the company's potential. With that in mind, here's a closer look at this fast-moving space stock. About Rocket Lab Stock Founded in 2006, Rocket Lab has evolved into a comprehensive space company with a proven track record of successful missions. The California-based company offers a range of services, from reliable satellite launches to spacecraft manufacturing and on-orbit management, making access to space faster, easier, and more cost-effective. Rocket Lab is best known for its Electron rocket, which has become the second-most frequently launched U.S. orbital rocket since its debut in 2018, delivering over 200 satellites into orbit for a mix of public and private clients. These missions support a range of activities, including national security, scientific research, climate monitoring, and communications. Just last month, Rocket Lab successfully completed its 68th Electron launch, delivering a satellite to orbit for a confidential commercial customer. The mission also set a new company record as the second launch from the same site in under 48 hours. Rocket Lab is also working on its larger Neutron rocket, designed to compete with SpaceX's Falcon 9 and support satellite constellations. Since its Nasdaq debut in August 2021 through a special purpose acquisition company (SPAC) merger, Rocket Lab's market capitalization has swelled to roughly $21 billion. With a monster 723% rally over the past year that dwarfs the broader S&P 500 Index's ($SPX) 17% return, Rocket Lab has kept its momentum going in 2025, adding 72% year-to-date (YTD). Over the past three months alone, RKLB stock has surged 95%, driven by bullish analyst coverage, a series of successful launches and a major deal with the European Space Agency (ESA). A Look Inside Rocket Lab's Q1 Earnings Report Rocket Lab kicked off fiscal 2025 with a strong start, as its first-quarter earnings report on May 8 highlighted steady revenue growth and continued momentum across both its launch and space systems segments. The company delivered a record $122.6 million in revenue, representing an impressive 32% increase over the same period last year. Operationally, Rocket Lab delivered a flawless performance, achieving 100% mission success for Electron during the quarter. It completed five launches supporting Earth-imaging, monitoring, intelligence, and global wildfire detection missions. Notably, the company successfully executed three of those launches in just 13 days, a rapid pace that highlights its growing efficiency and reliability. Meanwhile, Rocket Lab continues to advance its next-generation Neutron rocket, with Stage 2 qualification now complete and Stage 1 qualification in progress. A key highlight from the quarter was Neutron's selection for the U.S. Space Force's National Security Space Launch (NSSL) Phase 3 Lane 1 program, a major $5.6 billion initiative aimed at supporting critical national security missions. In fact, total operating expenses increased 40% annually in the first quarter, primarily driven by a rise in investment in Neutron development. GAAP R&D spending rose to $55.1 million, reflecting Rocket Lab's accelerated focus on its next-gen launch vehicle. On the bottom-line side, the company reported a net loss of $0.12 per share, worsening from a $0.09 loss per share in the same period last year. However, margins showed encouraging signs of improvement. GAAP gross margin rose to 28.8% in Q1 2025 from 26.1% a year ago, while non-GAAP gross margin improved to 33.4% from 31.7%. The company's backlog remained strong at $1.067 billion, with 60% tied to space systems and 40% to launch services. Commercial customers accounted for 54% of the backlog, while government clients made up the remaining 46%. Looking ahead to Q2, which is scheduled to be reported next month, Rocket Lab expects revenue to land between $130 million and $140 million, with non-GAAP gross margins forecast in the range of 34% to 36%. Additionally, operating expenses for the quarter are projected to range between $96 million and $98 million, as the company continues to scale its infrastructure and development efforts. What Do Analysts Expect for Rocket Lab Stock? On July 14, Rocket Lab shares popped nearly 11% after Citi analyst Jason Gursky boosted his price target from $33 to $50 while keeping a 'Buy' rating on the stock. The upgrade came as Gursky shifted his valuation to reflect the company's longer-term outlook, projecting revenue to reach around $2.6 billion by 2029. Gursky pointed to several key areas that could drive momentum, including ongoing progress with the Neutron rocket, potential updates from the U.S. Department of Defense, and the company's ability to land more launch contracts. Looking ahead, the analyst expects Rocket Lab's growth to be driven by approximately 20 Neutron launches per year and a steady increase in satellite construction successes. The forecast also includes around $50 million in annual revenue from the Geost acquisition, which is expected to close in the second half of 2025. Overall, RKLB stock continues to earn Wall Street's trust, holding a steady 'Moderate Buy' consensus rating as analysts remain optimistic about its growth in the expanding space economy. Of the 15 analysts offering recommendations, eight advocate a 'Strong Buy' rating, one gives a 'Moderate Buy,' and six suggest a 'Hold.' The stock is already trading at a premium to its average price target of $34.42. However, Citi's Street-high target of $50 suggests that RKLB can still rally as much as 14% from here. On the date of publication, Anushka Mukherji did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Hindustan Times
an hour ago
- Business
- Hindustan Times
Meet the 10 richest people alive: Musk, Bezos, Zuckerberg dominate 2025 billionaires list
The ultimate guide to the top 10 richest billionaires on the planet is here. From Elon Musk and recently-married Jeff Bezos to Mark Zuckerberg, these individuals continue to dominate the global economy with their vast empires and are setting new benchmarks worldwide. Only one among them belongs to France, while the remaining nine out of 10 are Americans, as per the data shared by Forbes. Elon Musk is the only person with a net worth of over $400 billion.(REUTERS) Here's a look at the top 10 richest people alive: 1. Elon Musk ($408.5 billion) Despite his ongoing feud with US President Donald Trump, Elon Musk remains the wealthiest person on the planet. He is the only person to have a total net worth above $400 billion. To date, he has co-founded seven companies, which include the electric car maker Tesla, AI startup xAI and space tech firm SpaceX. Musk owns nearly 12 per cent of Tesla, which recently ventured into the Indian market. He has pledged over half of his total shares in the company as collateral for personal loans. Founded in 2002, SpaceX is a dominant force in the space and technology sector. Musk holds an estimated 42 per cent stake in the company. The 54-year-old took control of Twitter in 2022 as part of a $44 billion deal, per the outlet. Also read: Elon Musk slams rivals for too many satellites even as SpaceX owns over 60% of those orbiting Earth 2. Larry Ellison ($296.1 billion) The chairman, chief technology officer and co-founder of Oracle owns nearly 40 per cent of the software giant. He shifted his base to the Hawaiian island of Lanai in 2020. He purchased almost all of it for a whopping $300 million in 2012. He was also a part of Tesla's board between December 2018 and August 2022. 3. Jeff Bezos ($243.6 billion) The founder of Amazon owns 9 per cent of the company. He started the business from his garage in Seattle in 1994. Bezos recently tied the knot with Lauren Sánchez in Venice. This comes after he parted ways with MacKenzie Scott in 2019 after staying together for 25 years. Post their divorce, Bezos is believed to have transferred a quarter of his 16 per cent stake in the company to her. 4. Mark Zuckerberg ($241.6 billion) Zuckerberg kickstarted Facebook at the age of 19 in 2004. He made the platform public in 2012. At present, he owns roughly 13 per cent stock in the company. The name of the company was changed to Meta in 2021. 5. Larry Page ($160.8 billion) Page and Sergey Brin co-founded Google in 1998. He later served as the CEO of Alphabet, the parent company of Google, and stepped down from the role in 2019. As of now, he remains a part of the board as well as a controlling shareholder. 6. Sergey Brin ($153.5 billion) Brin, 51, currently serves on the board of Alphabet. He remains a controlling shareholder in the tech giant after stepping down as its president in 2019. He was six when his family shifted from Russia to the US. Also read: 'Buying CNBC could be tricky': Insider on Jeff Bezos's new interest in cable network 7. Jensen Huang ($152.7 billion) Huang is the CEO and president of Nvidia, a graphics-chip company that was co-founded by him in 1993. He owns 3 per cent of shares in the firm. 8. Bernard Arnault and family ($147.9 billion) Bernard Arnault from France takes care of the LVMH empire, which comprises dozens of fashion and cosmetics brands, including Louis Vuitton. His five children are also associated with the company. A few years ago, Arnault proposed a reorganization of Agache to become a limited partnership. 9. Steve Ballmer ($144 billion) Ballmer served as the CEO of Microsoft between 2000 and 2014. He joined the company in 1980. After that, he went on to purchase the Los Angeles Clippers in the NBA for $2 billion. 10. Warren Buffett ($142.1 billion) Warren Buffett is a hugely successful investor. His company, Berkshire Hathaway, is the owner of several companies like Geico, Duracell as well as Dairy Queen. FAQs: - Who are the top 10 richest people? The list includes Elon Musk, Larry Ellison, Jeff Bezos, Mark Zuckerberg, Larry Page, Sergey Brin, Jensen Huang, Bernard Arnault, Steve Ballmer and Warren Buffett. - Has anyone ever made $1 trillion? No person has ever amassed a net worth of $1 trillion or more. - Who has 400 billion dollars? Only Elon Musk owns more than $400 billion.
Yahoo
2 hours ago
- Business
- Yahoo
I Asked ChatGPT What Would Happen If Elon Musk Paid Taxes at the Same Rate as the Middle Class
The wealth gap in America is staggering, but the tax gap might be even more shocking. When I asked ChatGPT to calculate what would happen if Elon Musk paid taxes at the same effective rate as middle-class Americans, the AI's response revealed numbers that will make you question everything you thought you knew about tax fairness. Explore More: Read Next: The answer involves billions in potential revenue, fundamental questions about how wealth should be taxed and a tax loophole so effective that billionaires have turned it into an art form. The Massive Tax Rate Gap Between Billionaires and Regular Americans According to ChatGPT's analysis, the effective tax rate difference between Musk and middle-class Americans is almost unbelievable. While middle-class households typically pay an effective tax rate of 20% to 25% when combining federal income tax, payroll taxes and other obligations, Musk's situation tells a very different story. Based on ProPublica's investigation of IRS files, ChatGPT revealed that Musk paid a 'true tax rate' of just 3.27% on his wealth growth between 2014 and 2018. In 2018 specifically, he reportedly paid $0 in federal income tax despite his wealth increasing dramatically. The AI explained this isn't because Musk is breaking the law — it's because most of his wealth exists as unrealized gains in Tesla and SpaceX stock, which aren't taxed until sold. He can also borrow against his equity holdings, and loans aren't considered taxable income. What $3 Billion in Extra Tax Revenue Could Actually Fund ChatGPT ran the numbers on what would happen if Musk paid a 25% effective tax rate during that 2014 to 2018 period. With his wealth increasing by approximately $13.9 billion, he would have owed about $3.475 billion in taxes instead of the roughly $455 million he actually paid. That extra $3 billion could have funded some serious public programs: Free community college for over 1 million students Universal school lunches for millions of children Clean water infrastructure projects in cities like Flint Significant boosts to child tax credits or affordable housing grants The AI shared that this represents just one person over five years, making the potential impact even greater. How the Bezos and Buffett Comparisons Make It Even More Shocking ChatGPT compared Musk with other billionaires and the results were even more eye-opening. According to the same ProPublica data: Jeff Bezos saw his wealth grow by $99 billion from 2014- to 2018 while paying $973 million in taxes — an effective rate of just 0.98%. Warren Buffett increased his wealth by $24.3 billion during the same period but paid only $23.7 million in taxes — a microscopic 0.10% effective rate. If all three paid taxes at a 25% rate on their wealth growth, ChatGPT calculated they would have collectively contributed an additional $32.85 billion to federal revenue over just five years. 'That's from three people,' the AI shared, which really puts the spotlight on the scale of potential revenue from properly taxing extreme wealth. The 'Buy-Borrow-Die' Strategy That Makes It All Possible ChatGPT explained the sophisticated but perfectly legal strategy that allows billionaires to avoid most taxes: Buy assets (stocks, real estate, businesses) that appreciate over time. Borrow against those assets at low interest rates — loans aren't taxable income. Die and pass appreciated assets to heirs, who receive a 'stepped-up basis' that eliminates taxes on all previous gains. This approach allows billionaires to fund lavish lifestyles through borrowed money while their actual wealth compounds tax-free indefinitely. The AI pointed out that regular Americans can't use this strategy because we rely primarily on taxable wages rather than appreciating assets we can borrow against. Why Current Tax Rates Miss the Real Problem ChatGPT clarified an important distinction that often confuses discussions about billionaire taxes. When billionaires do have taxable income, they often pay rates similar to or higher than middle-class Americans on that specific income. But here's the key insight the AI provided: 'The tax code isn't broken because billionaires are cheating it. The tax code is broken because it treats labor as taxable and capital as optional.' Middle-class Americans pay taxes on nearly 100% of their economic gains through wages. Billionaires pay taxes on maybe 5% to 10% of their economic gains, since most wealth growth remains unrealized and untaxed. The Market Impact Question ChatGPT Couldn't Ignore The AI also addressed potential downsides of requiring billionaires to pay higher effective tax rates. Forcing someone like Musk to sell billions in stock to pay taxes could significantly impact share prices, potentially affecting retirement accounts and institutional investors. However, ChatGPT suggested this concern might be overblown, noting that well-designed tax policies could include provisions for gradual implementation or alternative payment methods to minimize market disruption. Policy Solutions That Could Actually Change Things ChatGPT outlined several approaches that could create more tax equity: Wealth taxes that apply annual rates to net worth above certain thresholds Minimum tax rates on total income including unrealized gains for ultra-high-net-worth individuals Closing borrowing loopholes by treating large loans against equity as taxable events Capital gains reform that taxes investment profits at the same rates as wages The AI wrote that while these changes would require significant political will, they're not technically impossible to implement. What This Means for Regular Taxpayers ChatGPT's analysis revealed that the current system essentially subsidizes billionaire wealth accumulation through tax policy. While middle-class Americans pay substantial portions of their income in taxes, the ultra-wealthy can legally structure their finances to minimize tax obligations dramatically. This creates a compounding effect where wealth concentrates at the top not just through investment returns, but through preferential tax treatment that allows more capital to remain invested and growing. The AI's Bottom Line on Tax Fairness When I asked ChatGPT for its overall assessment, the AI concluded that requiring billionaires to pay taxes at middle-class rates would generate massive federal revenue while establishing important principles about shared civic responsibility. 'The federal government could collect billions more in revenue annually,' the AI explained. 'It would set a precedent for tax equity.' However, ChatGPT wrote that achieving this would require 'major changes to the U.S. tax code, especially how wealth (not just income) is taxed.' The AI's analysis suggested that while the technical solutions exist, the political challenge lies in restructuring a tax system that currently treats different types of economic gains very differently. Why These Numbers Matter Beyond Politics ChatGPT's calculations reveal something beyond partisan tax policy debates — they show how current tax structures affect public investment capacity. The AI noted that tens of billions in additional revenue could fund infrastructure, education and social programs that benefit everyone, including the wealthy. 'If Musk, Bezos and Buffett paid taxes like the middle class, tens of billions more would flow into public programs,' the AI concluded. 'It would dramatically shift the conversation about economic fairness and tax equity.' Whether you think that's good policy or not, ChatGPT's analysis made clear that the current system creates vastly different tax obligations for different types of Americans — and the numbers are bigger than most people realize. More From GOBankingRates The 10 Most Reliable SUVs of 2025 This article originally appeared on I Asked ChatGPT What Would Happen If Elon Musk Paid Taxes at the Same Rate as the Middle Class Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
USA Today
2 hours ago
- Science
- USA Today
What time is SpaceX, NASA Crew-11 launch? How, when to watch on Netflix, Amazon Prime
The launch of four astronauts on a mission to the International Space Station known as Crew-11 will be the first NASA mission to stream on Netflix. The next rocket to launch on a mission transporting astronauts to space is coming to a streaming platform near you. Two major streaming services – Netflix and Amazon Prime – will provide NASA's coverage of a mission known as Crew-11 getting off the ground from Florida. While the U.S. space agency's live cosmic programming has been available on Prime since May, the upcoming mission marks the first launch with astronauts to be broadcast on Netflix – one of the largest streaming platforms in the world. The four astronauts selected for the Crew-11 mission, a joint venture between NASA and SpaceX, are due to travel to the International Space Station about 250 miles above Earth. At the orbital laboratory, the spacefarers will spend a few months performing scientific research designed to be carried out in microgravity. But the otherwise routine mission also bears a little more significance: The Crew-11 astronauts will replace the Crew-10 contingent who arrived in mid-March at the space station in a headline-grabbing spaceflight that set the stage to end the infamous Starliner saga. Here's what to know about the upcoming launch, as well as how to watch a livestream of the SpaceX rocket get off the ground from the Kennedy Space Center in Florida. Crew-11 launch: Remembering how departing Crew-10 astronauts set stage for 'stuck' Starliner crew to leave What is Crew-11? What to know about NASA, SpaceX mission As the name suggests, Crew-11 is NASA and SpaceX's 11th science expedition to the International Space Station. The missions, most of which last about six months, are contracted under NASA's commercial crew program. The program allows the U.S. space agency to pay SpaceX to launch and transport astronauts and cargo to orbit aboard the company's own vehicles, freeing up NASA to focus on its Artemis lunar program and other spaceflight missions, including future crewed voyages to Mars. The arrival of the astronauts selected for the Crew-11 mission at the space station will also pave the way for four others to leave. Their Crew-10 predecessors arrived at the ISS in mid-March in a headline-grabbing mission that set the stage for the long-awaited departure of Butch Wilmore and Suni Williams − the NASA astronauts who crewed the ill-fated Boeing Starliner space capsule. The Crew-10 astronauts – NASA astronauts Nichole Ayers and Anne McClain, Japanese JAXA astronaut Takuya Onishi and Roscosmos cosmonaut Kirill Peskov – will depart a few days after their replacements arrive to make a water landing off the coast of California. What time is the launch of Crew-11 mission from Florida? The Crew-11 mission is due to get off the ground no earlier than 12:09 p.m. ET Thursday, July 31, from near Cape Canaveral, Florida, according to NASA. SpaceX uses its Falcon 9 rocket – one of the most active in the world – to launch the crew missions from Launch Complex 39A at NASA's Kennedy Space Center. The astronauts themselves ride a Dragon crew capsule – the only U.S. spacecraft capable of carrying astronauts to and from the space station. The Falcon 9 accelerates to approximately 17,500 miles per hour after liftoff before the Dragon separates in orbit to use its own thrusters to power its way to the space station. NASA and SpaceX mission control will monitor a series of maneuvers guiding Dragon to the Earth-facing port of the station's Harmony module, where it is expected to dock autonomously around 3 a.m. ET Saturday, Aug. 2, according to NASA. How to watch livestream of Crew-11 launch on Netflix, Prime Viewers have plenty of ways to follow along with NASA's planned live coverage of both the Falcon 9 launch and Dragon's arrival at the space station. Launch coverage begins at 8 a.m. ET Thursday, July 31, on NASA+, the U.S. agency's free streaming platform. Content through NASA+ is available to watch on desktop from the agency's official site and YouTube channel, and can be downloaded as a mobile app on smartphones. NASA has also recently made all of the platform's content available on Amazon Prime and Netflix. NASA+ made its debut in May on Prime's live channels, available to users even without a subscription. But viewers will need a Netflix subscription to view NASA content on the popular platform, which boasts a global audience of 700 million people. Viewers should be able to find live NASA+ content in the Netflix interface alongside other popular series. A post-launch news conference is scheduled to take place at 1:30 p.m. ET and will be available only on NASA's YouTube channel. NASA+ coverage is scheduled to resume around 1 a.m. ET Saturday, Aug. 2, as the Dragon approaches and docks at the space station, followed by the hatch opening around 5:30 a.m. to allow the crew to enter the station and greet the other astronauts. Who are the astronauts on the Crew-11 mission? The Crew-11 mission includes four spacefarers: Eric Lagatta is the Space Connect reporter for the USA TODAY Network. Reach him at elagatta@
Zawya
2 hours ago
- Business
- Zawya
China's SpaceX rival LandSpace eyes IPO in Shanghai
BEIJING - Chinese rocket developer LandSpace Technology is seeking to list on the Shanghai Stock Exchange's tech-focussed STAR Market, according to a document released by the securities regulator on Tuesday. The document did not state how much the company aims to raise. Beijing-based LandSpace was the world's first company to launch a methane-liquid oxygen rocket in July 2023, ahead of U.S. rivals including Elon Musk's SpaceX and Jeff Bezos's Blue Origin. It completed a test of the first-stage propulsion system of its Zhuque-3 launch vehicle in June, paving the way for the reusable rocket's first launch scheduled for the second half of 2025, according to a statement posted on the company's WeChat account. A successful test of Zhuque-3 would make LandSpace the second company after SpaceX to launch a reusable rocket, which is cheaper and faster in launch turnaround compared with expendable rockets. Founded in 2015, LandSpace has secured funding from investors including venture capital firm HongShan, known at that time as Sequoia Capital China, the investment arm of Chinese property developer Country Garden and the state-backed China SME Development Fund. LandSpace raised 900 million yuan ($125 million) in December from a state-owned fund focussed on advanced manufacturing, while in 2020 it raised 1.2 billion yuan, Chinese corporate databases showed. ($1 = 7.1796 Chinese yuan renminbi)
