The topic Australia news live: Wong welcomes US-Iran peace deal; Joyce says fundraised… is drawing steady attention: readers, analysts, and industry watchers are all tracking how the story may unfold in the days ahead.
This is taking place in a fast-moving context — product cycles, platform shifts, and competitive moves can reshape the outlook quickly, so the details below are worth a careful read.
What follows is a clear walkthrough of the main facts and angles you need to make sense of the news.
Gina Rinehart’s company has invested a reported $1bn in Elon Musk’s SpaceX and said it hopes to collaborate in future on AI infrastructure.
Hancock Prospecting won a “significant” investment allocation after SpaceX began being traded on sharemarkets on Friday, Rinehart said in a statement today. She said her investment reflected her confidence in Musk, congratulating him:
double quotation markElon has done what very few people in history have done – he has not just imagined the future, he has built companies capable of delivering it, and helped to keep American technologies at the forefront …
We see SpaceX as a rare business: led by a truly exceptional person, technically exceptional and operating in sectors that are crucial, and with long-term potential. Hancock favours investing in industries led by sensible, hard working, patriotic and exceptional people. Elon excels in every regard.
Rinehart cited SpaceX’s early rocket efforts and Starlink satellite communication network but expressed excitement at its AI prospects.
Hancock Prospecting’s chief executive, Garry Korte, said Rinehart had met Musk several times. He said Hancock used the Grok AI platform and would “look forward” to potentially working with SpaceX as a supplier of critical minerals for its advanced technologies infrastructure.
Hancock Prospecting declined to detail how large the investment was, when asked about the Wall Street Journal’s report that Rinehart bought over US$1bn (A$1.4bn) worth of the US$2.1tn (A$2.97bn) company. If accurate, that would dwarf her biggest US shareholdings, of US$0.7bn each in MP Materials and an Invesco Nasdaq index fund.