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By Laura Michelle Davis According to several news reports, including a detailed piece by The New York Times, thousands of current and former SpaceX employees could become overnight millionaires, thanks to today's IPO. Why does this coverage feel like a red herring? Probably because Elon Musk has become the world's first trillionaire, while other billionaires in his circle, along with a flock of Silicon Valley venture capitalists and private investment firms, are going to hit the jackpot again. The rest of us can barely afford to eat the proverbial cake. It's worth a reminder that SpaceX, whi

After months of absorbing higher costs for memory and storage chips, which have quadrupled in price since 2025, Apple says it can no longer shoulder the expense. "We have never seen a component price increase this much, this quickly," a company representative told CNET via email.  But with Big Tech sitting on some of the largest cash piles in history while reporting consistently strong profit margins, many loyal customers are pissed they're being made to foot the bill. Or maybe millions of Americans don't even notice because they're too busy scraping their paychecks to cover groceries, rent, i

Over the last year, we've seen major tech conglomerates like Google, Microsoft, Meta and Amazon spend huge sums to build massive computer systems for AI. These hyperscalers paid top dollar to secure the available supply of components for their generative AI and large language models, or LLMs -- which then drove up prices across the rest of the tech industry. Apple, in the meantime, deliberately sat out the massive AI infrastructure spending race. Instead of burning cash on its own AI data centers and cloud warehouses, the company is now integrating Google Gemini models to power its AI-upgraded

The confidential submission means we don't yet have access to the documents required for a public stock sale, including a prospectus that details the business's operations and the risks and challenges it faces. That eventual public filing will have to include details on the company's financials and the numerous potential risks it faces. Transparency will also be key. "If they lie to investors, then the company could be held liable," Corrigan said. Just as companies like Google, Apple, Meta and Microsoft have quarterly earnings calls, where CEOs take questions from investment analysts about the