Plus: Shares for national-security satellite company HawkEye 360 jump in their public-market debut. And Amazon Pharmacy expands access to weight management services. Julie Chang hosts.
Learn more about your ad choices. Visit megaphone.fm/adchoices
[00:00:00] [SPEAKER_01] This podcast is brought to you by Atlassian Rovo, AI that takes your team from AI novice to AI native. What if AI handled the busy work for you? Updating JIRA tickets, drafting campaign briefs and confluence, writing project updates, all without you lifting a finger. Meet Rovo, AI that works where your team already works, using your company's data and permissions to take action. Get started with Rovo at rovo.com. That's rovo.com.
[00:00:31] [SPEAKER_00] Here's your afternoon TNB Tech Minute for Thursday, May 7. I'm Julie Chang for The Wall Street Journal. SpaceX is spending heavily before its IPO. That includes an estimated $55 billion for the Texas-based TerraFab chip complex it plans to develop with Tesla, according to local government notices. The company is also funding space infrastructure and potentially sending up to 1 million AI satellites to low-Earth orbit in the years ahead.
[00:00:58] [SPEAKER_00] Some of the developments that SpaceX is looking to fund will take years to complete and present big operational and financial risks. SpaceX didn't respond to a request for comment about its investment plans. The rockets, satellites and AI company have significant revenue coming in through its space businesses. Last year, the journal reported it generated $8 billion in adjusted earnings on $16 billion in revenue.
[00:01:23] [SPEAKER_00] Shares for national security satellite company Hawkeye 360 jumped in their public market debut, signaling strong investor demand for defense companies. Hawkeye's stock opened 30% above its $26 initial public offering price. It priced its offering at the high end of its targeted price range, raising $416 million and valuing the company at more than $2.4 billion.
[00:01:48] [SPEAKER_00] Hawkeye focuses on so-called signals intelligence, operating a fleet of more than 30 satellites that collect radio frequencies back on Earth. The company says it turns that data into usable information for clients. Much of its business is with the U.S. government. Finally, Amazon is expanding access to its weight management services. Amazon Pharmacy is now delivering same-day prescription delivery and pickup for Novo Nordisk's Ozempic pill.
[00:02:16] [SPEAKER_00] The company says with insurance, pricing starts at $25 per month. This expands on Amazon's ongoing investment in weight management. In April, Amazon launched a program to provide access to GLP-1 treatments through its one medical primary care arm. For a deeper dive into what's happening in tech, check out Friday's Tech News Briefing Podcast.
[00:02:38] [SPEAKER_01] This podcast is brought to you by Atlassian Rovo, the AI that takes your team from AI novice to AI native. Using AI at work shouldn't feel like extra work. Rovo works inside the tools you already use, like Jira and Confluence. It takes care of status updates, backlog cleanup, and repetitive tasks for you, so you can focus on what actually moves work forward. Try Rovo from Atlassian at rovo.com. That's rovo.com. This is at the MacLeod's 4th.
[00:03:07] [SPEAKER_01] you