Elon Musk Extends His Anywhere-but-Delaware Campaign
Summary
Dozens of states have sought in recent years to lure companies away from Delaware — which became the home base for much of corporate America because of its extensive business-friendly court system — by pitching themselves as being even friendlier. Warren Buffett’s conglomerate sold about 1 percent of its holdings in the iPhone maker, according to regulatory filings, reducing a stock position that had assumed an outsize proportion of Berkshire’s investment portfolio. A parade of analyst upgrades and pent-up anticipation for next week’s big earnings call have helped power a blistering rally for shares in Nvidia, pushing the chipmaker closer to the $2 trillion club. Investors certainly appear to have cooled on Intuitive Machines: Shareholders in the SPAC taking the company public redeemed a remarkable $279 million before the merger closed, leaving the start-up with less money to finance its deep-space ambitions. As for the wisdom of NASA’s reliance on private players, the approach doesn’t depend on the financials of partners: “Missions are already largely funded by tax dollars,” said Ellis Brazeal, co-lead of aerospace and aviation at the law firm Jones Walker.