Economy

Space X stock market trip
Space X bull market slows down – research house predicts price doubling

Space company Space X is falling for the second day in a row, after a very strong start for the stock market newcomer.

On Thursday, the stock was down around 10 percent at most, but has recovered and is down around 5 percent in closing trade.

– Given the size of the listing and the strong price development in the first few days, it is not surprising that some investors choose to take profits, Ipox Schuster analyst Kat Liu told Reuters.

At the same time, a research house on Wall Street predicts that the stock will more than double from today's levels, writes CNBC. Arete Research sets a target price of $401 by the end of 2027.

The company believes that SpaceX can leverage progress for the Starship program, an increased launch rate and a continued expansion of Starlink.

– Expect SpaceX shares to trade on news about how well Starship can be reused and the launch rate, Aretes analysts write in an analysis on Thursday.

Open AI's future
Expert on office plans: Looks like the focus will be on sales

Open AI's Swedish office looks to be a sales office to a large extent, writes EFN.

The site has taken a closer look at the AI ​​giant's job advertisements, which are aimed at salespeople, technical advisors and specialists who help companies get started with AI.

The fact that Open AI has so far had a weak presence in Europe and wants to improve it, and to better understand how customers use the services, is behind the establishment, says tech profile Jens Nylander at The Intelligence Company.

The AI ​​race
“Godfather of AI” sees Musk’s AI company as “a failure”

AI researcher Yann LeCun, who is often referred to as one of the “godfathers of AI”, is directing scathing criticism at Elon Musk’s AI company XAI and at the same time raising a warning finger for a potential AI bubble.

– XAI is honestly a bit of a failure, LeCun tells CNBC.

He points out that the founding team has left the company, and that Musk is now in a difficult situation to successfully recruit the best AI talents. This is because he did not treat the previous team “particularly well”.

Peace talks
Harvard professor sees Trump as “a major defeat”

The preliminary peace settlement is a “major defeat for the US” and puts the dollar’s ​​dominance to the test. Harvard professor Kenneth Rogoff tells Affärsvärlden.

He believes that Trump gave in “on almost every point,” which will weaken the country’s interventionist policy for many years to come and the country’s role as an economic powerhouse.

The winner in the currency market is China’s renminbi in the long term, says Rogoff.

The future of the automotive sector
BMW after unexpected profit warning: On the right track

The price-squeezed BMW is “on the right track” with its next generation of car models. This is what Chairman Nicolas Peter says after the automotive giant’s unexpected profit warning earlier this week, according to Reuters.

He believes that the order intake for the company’s so-called Neue Klasse models is strong.

It was on Tuesday that BMW lowered its forecast for the operating margin in its automotive business to 1–3 percent, from previously up to 6 percent. The reduction was greater than expected, according to analysts at Berenberg.

Peter does not want to comment on the finances in detail, but states that Europe “continues to be a mainstay of the export business.”

Today's stock market
Amazon: In talks to sell AI chip – the stock is rising

E-commerce giant Amazon is in talks to sell the company's AI chip Trainium for use in other companies' data centers. This is what the company's AI chief Peter Desantis told Bloomberg.

He states that the company has begun discussions, without going into details about potential customers.

- We see AI infrastructure as an area that is developing rapidly and we are constantly looking for ways to reach more customers, he says and adds:

- The AI ​​market is still far from saturated.

Amazon shares rise 3 percent on Friday.

Fuel prices
Gasoline prices in the US fall to three-month lows

For the first time since March, gasoline in the US costs less than $4 per gallon. Bloomberg reports.

The decline comes after the US and Iran signed a preliminary agreement to end the war and reopen the Strait of Hormuz, which has put pressure on oil prices. As a result, gasoline prices have retreated from their peak in May of more than $4.50 per gallon.

However, prices are still some way from reaching pre-war levels. Experts say they are not expected to return there until next year, the news agency writes.