WSJ Tech News Briefing
TNB Tech Minute: Here Are SpaceX’s Big Tech Investors
· Summarized
Key takeaways
- SpaceX's ownership is heavily concentrated with Elon Musk holding almost half of the shares, and major tech investors like Nvidia and Google holding significant stakes.
- Spin Master is diversifying into AI technology by acquiring Habico, creators of Stickerbox, which combines AI and children’s creative activities.
- Warehouse automation is experiencing a robust growth phase, with companies investing heavily in robotics to cut costs and improve efficiency, even amidst economic challenges.
Summary
SpaceX's Major Investors Revealed
This section discusses the recent regulatory disclosures about SpaceX's largest investors. Nvidia owns nearly 123 million shares and uses Nvidia chips exclusively for SpaceX. Alphabet's Google holds a 7.2% stake, stemming from an investment made over a decade ago, while Antonio Gracias's entities own 6.5%. VC investor Peter Teal holds a 5.5% stake, and Harvard University's Endowment Fund owns approximately 12.9 million shares worth about $2.2 billion. Elon Musk himself holds a significant 48.4% ownership stake, highlighting his dominant position in the company.
Acquisition of Kid-empowered AI Company
Spin Master, known for products like Rubik's cubes and Paw Patrol, is acquiring Brooklyn-based Habico for around $35 to $50 million. Habico develops Stickerbox, an AI-powered device that generates images based on children’s spoken descriptions, printing stickers that children can then color. This move signifies Spin Master's expansion into AI-driven products targeted at children.
Robotics and Warehouse Automation Trends
The segment reports a rise in warehouse automation across North America, with nearly 18,000 robots ordered in the first half of this year, valued at approximately $1.2 billion. Despite challenges such as tariffs and high fuel prices, companies increased their robot purchases by 2% in units and 7% in value compared to last year. Over 36,700 robots were purchased in 2022, marking a post-pandemic surge. Most surveyed companies (92%) plan to continue increasing automation investment to reduce operational costs.
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Show notes
Plus: The maker of Rubik’s Cubes and Paw Patrol is buying AI company Hapiko, the maker of Stickerbox. And warehouses are bringing in more robots, per a new report. Julie Chang hosts.
Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.
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