{"id":704633,"date":"2026-05-21T00:00:00","date_gmt":"2026-05-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=704633"},"modified":"2026-05-21T12:13:27","modified_gmt":"2026-05-21T12:13:27","slug":"elon-musk-on-track-to-become-first-tnaire-nvidia-investors-unimpressed-despite-positive-results","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/21\/elon-musk-on-track-to-become-first-tnaire-nvidia-investors-unimpressed-despite-positive-results\/","title":{"rendered":"Elon Musk on track to become first t\u2019naire + Nvidia investors unimpressed despite positive results"},"content":{"rendered":"

Good afternoon, folks, and congratulations on making it to the weekend<\/strong> \u2014 and if you\u2019ve cashed in your PTO for Sunday and Monday, happy early Eid break. It\u2019s a cool (and calm) day in Cairo, and we\u2019ve got an issue to match. Today, we\u2019re breaking down Swatch\u2019s ingenious marketing strategy<\/strong> after making headlines for shutting its stores this week, revisiting a 2008 melodrama that had us reaching for the Kleenex, listing all the footie we\u2019re watching this weekend, and more.<\/p>\n

But first, the news\u2026<\/strong><\/p>\n

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THE BIG STORY ABROAD-<\/p>\n

\ud83c\udf10 No single story is getting top billing, with a hodge-podge of <\/strong>headlines dominating the front pages this afternoon.<\/strong> Still getting plenty of ink, however, is SpaceX\u2019s historic IPO \u2014 hailed as the largest IPO in history<\/a> \u2014 as the aerospace giant filed its prospectus with the Securities and Exchange Commission last night, paving the way for a global roadshow starting 4 June. The company is eyeing a 12 June Nasdaq debut at a USD 1.75 tn valuation, with expected proceeds of USD 70-75 bn \u2014 more than double the USD 29.4 bn record set by Saudi Aramco in 2019. If the IPO achieves its target, the world\u2019s richest man \u2014 Elon Musk \u2014 could become its first t\u2019naire.<\/p>\n

SpaceX, the world\u2019s leading rocket maker and a major US government contractor, confidentially filed for an IPO last month<\/strong>, giving regulators time to review the offering before its public reveal. \u201cOur mission is to build the systems and technologies necessary to make life multiplanetary, to understand the true nature of the universe, and to extend the light of consciousness to the stars,\u201d SpaceX declared in its filing.<\/p>\n

^^Read more on: AP News<\/a>, The Guardian<\/a>, Reuters<\/a>, and BBC<\/a>.<\/p>\n

Also making the rounds in the business press is AI giant Nvidia\u2019s shares falling by 1.6% in after-hours trading<\/strong> after failing to wow skeptical investors despite positive results<\/a>. Now the world\u2019s most valuable company, with a market capitalization hovering around USD 5.3 tn, Nvidia saw its shares dip in extended trading amid what analysts described as the inevitable pressure of scale. With the chip giant now accounting for roughly 8% of the S&P 500, some investors are no longer reacting to strong results alone, but instead looking for signs of continued hypergrowth.<\/p>\n

^^Read more on: Financial Times<\/a>, BBC<\/a>, and Bloomberg<\/a>.<\/p>\n

MEANWHILE- In a departure from diplomatic norms<\/strong>, US President Donald Trump claims he is willing to speak with Taiwanese leader Lai Ching-te, in an unprecedented move from a US leader since 1979. After being asked on Wednesday whether he would consult with Lai before making a decision on US arms sales, Trump signaled he was open to discussions, saying: \u201cI'll speak to him. I speak to everybody. We'll work on that, the Taiwan problem.\u201d This could potentially roil US-China relations, with China\u2019s foreign ministry spokesperson denouncing the comments.<\/p>\n

^^Read more on: BBC<\/a>, The Guardian<\/a>, and CNN<\/a>.<\/p>\n

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