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Industry

Tesla proxy reveals SpaceX links, signals picked up for merger preparations

Tesla’s newly released proxy statement for its 2026 annual meeting contains details that have fueled debate over a possible merger with SpaceX. It notes that independent director Ira Ehrenpreis joined SpaceX’s board in February, while CEO Elon Musk’s pay terms could change in a control transaction. Tesla also proposed an automatic voting instruction for retail shareholders on future meetings. The proxy also outlines Tesla’s holdings and revenue linked to SpaceX and xAI.

Crypto

Nasdaq-listed XRPN stake structure revealed, Ripple co-founder and SBI among key holders

The final ownership structure of Nasdaq-listed XRPN has been disclosed, identifying Ripple co-founder Chris Larsen, Ripple and Japan\'s SBI Holdings as key shareholders in the new XRP treasury structure. A new SEC 8-K filing corrected technical errors and detailed share allocations to anchor investors. Larsen holds 2,340,249 Class A shares. Ripple holds 1,678,382 Class A shares and voting control over additional shares. The stock fell back from an early surge.

AI & Enterprise

Morgan Stanley keeps SpaceX target at $300, says $600 possible if Cursor deal delivers

Morgan Stanley kept its official price target on SpaceX at $300 but outlined a most-optimistic scenario in which shares could be valued at $600. The bank said the bull case assumes stronger execution across AI, Starship, orbital computing and other new businesses and is not an official target. SpaceX was trading around $139. The analysis centers on SpaceX’s acquisition of Anysphere, which operates AI coding platform Cursor, expected to close in the third quarter of 2026.