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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.

AI & Enterprise

Southeast Asia generative AI users hit 243 million as shopping and ads outpace subscriptions

Generative AI users in Southeast Asia have reached 243 million in less than three years, equal to about 58 percent of the region’s workforce, CNBC reported. Adoption has been four times faster than the spread of mobile internet, while only 1 to 2 percent of the population pays for personal subscriptions. Companies are expanding monetisation through e-commerce, digital advertising and automated customer service, with early cases showing higher conversion rates and larger order values.

Crypto

Tesla-SpaceX merger possibility raised, with bitcoin also in scope

Elon Musk has formalised the possibility of a merger between SpaceX and Tesla, saying each board has set up an independent special committee to review it, while cautioning that treating a deal as certain would be an exaggeration. A combined company would integrate assets including Grok, X, Starlink, Tesla’s robotaxi and Optimus, and projects such as Terafab chips and the Starmind orbital data centre plan. The companies hold 30,221 bitcoin in total.