Wall Street Breakfast Saudi Aramco poised to bet on lithium
Jan 15, 2025
Saudi Aramco is making waves by investing heavily in lithium to strengthen its supply chain. Meanwhile, Elon Musk faces a lawsuit from the SEC over delayed stock disclosure related to Twitter. Exciting developments in the tech sector include a $1 billion quantum computing initiative launched by IonQ and Maryland. Additionally, banks are gearing up for Q4 earnings, with market movements showing notable trends in the FTSE 100 and DAX.
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Saudi Aramco's Lithium Investment
- Saudi Aramco plans to invest in lithium production for electric vehicle batteries.
- This move aligns with Saudi Arabia's Vision 2030 to diversify its economy beyond oil.
SEC Lawsuit Against Elon Musk
- The SEC is suing Elon Musk for allegedly failing to disclose Twitter stock purchases.
- The SEC claims Musk bought shares at a lower price, underpaying by at least $150 million.
IonQ's Quantum Computing Initiative
- IonQ and Maryland announced a $1 billion initiative to establish the state as a quantum computing hub.
- IonQ plans to expand its headquarters and double its Maryland workforce.