OpenAI logo is seen in this illustration.
Image: REUTERS/Dado Ruvic/Illustration
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From boardroom shakeups and billion-dollar bets to the latest tech breakthroughs rewriting the rules, The Company Brief is your front-row seat to the stories moving markets and mindsets.
We cut through the noise so you can stay ahead of the curve, one bold business move at a time.
SpaceX weighs June 2026 IPO at $1.5 trillion valuation
Elon Musk's SpaceX is weighing a mid-June 2026 initial public offering, aiming to raise as much as $50 billion at a valuation of roughly $1.5 trillion, the Financial Times reported, citing people familiar with the matter. Reuters could not immediately verify the report.
SoftBank in talks to invest up to $30 billion more in OpenAI
SoftBank Group Corp is in talks to invest as much as an additional $30 billion in OpenAI, a person familiar with the matter said on Tuesday, as the Japanese conglomerate doubles down on its bet on the ChatGPT owner. The fresh investment would form part of a funding round that could raise up to $100 billion for OpenAI, valuing it at about $830 billion, the person said. The source declined to be identified as the information had not been publicly disclosed. Seeking to improve SoftBank's position in the artificial intelligence race, Chief Executive Masayoshi Son has made an "all-in" bet on OpenAI. In December, SoftBank said it had completed a $41 billion investment in OpenAI, giving it an 11% stake.
Gold's blistering rally continues past R82,000 as dollar plunges to 4-year low
Gold broke through $5,200 (R82,520) for the first time on Wednesday, after rising more than 3% on Tuesday, as the dollar plunged to a near four-year low amid persisting geopolitical concerns, ahead of a U.S. Federal Reserve monetary policy decision. Spot gold jumped 1.1% to $5,243.58 per ounce, after scaling a record high of $5,247.21 earlier, up more than 20% since the start of the year. U.S. gold futures for February delivery surged 3.1% to $5,237.70 per ounce. "(Gold's rise) is due to the very strong indirect correlation with the dollar and yesterday's price-rise in gold in the U.S. session was due to Trump's remark to a casual question about the dollar which implied that (there is) a broad-based consensus within the White House to have a weaker greenback going forward," said Kelvin Wong, a senior market analyst at OANDA.
Numsa calls for tariffs on vehicle imports from BRICS nations
The National Union of Metalworkers of South Africa (Numsa) has called on government to impose steep tariffs on imports from BRICS partners China and India, warning that local industry is under siege and that trade imbalances are deepening. Numsa general secretary Irvin Jim made the remarks during a parliamentary briefing by the Department of Trade, Industry and Competition (the dtic) and automotive industry stakeholders on the implementation of the South African Automotive Masterplan (SAAM) on Tuesday. While labour supports investment and does not oppose South Africa’s BRICS membership, Jim said government must reassess the value of its trade partnerships at a time when the domestic auto sector is facing intense import pressure and heightened global trade tensions.