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Politics

Elon Musk emerges as top funder for U.S. Republicans as SpaceX federal awards surge

Elon Musk has spent about $366 million on at least 40 U.S. midterm election contests, emerging as the largest individual donor, while SpaceX won $6.78 billion in federal government work over the same period. Filings show much of the spending flowed to Republican groups and America PAC. With Congress overseeing budgets and regulation, attention is focusing on how election outcomes could affect Musk-linked companies, contracts and probes.

Mobility

EV charging demand shifts to highway rest stops as operators boost turnover with ultra-fast chargers

Competition in South Korea\'s EV charging business is expanding from charger output to utilisation rates and operational capability, as more charging demand concentrates at highway rest stops. Bright Energy Partners\' EV charging unit Water unveiled a charging station equipped with 400 kW ultra-fast chargers at Geumwang rest stop. CEO Yoo Dae-won said uptime and operations drive trust and repeat visits. He cited limits from 10-year contracts and regulated pricing, and said turnover and accurate station information are key to revenue.

Crypto

Bitcoin miners turn to AI, but profits uncertain despite $100 billion in deals

Bitcoin mining companies have secured about $100 billion worth of AI and high-performance computing contracts, but only a limited portion has translated into billed revenue so far. More than 4 gigawatts of capacity is contracted, while 550 megawatts is currently providing services. CoinShares estimates annual revenue at about $1.1 billion. IREN drew attention over a reported Anthropic deal, but it was not confirmed. The shift reflects worsening mining profitability and high costs for AI facilities.