Tech entrepreneur Elon Musk has become the first person in history to achieve a net worth of more than $1 trillion following the public market debut of SpaceX.

The milestone was reached after SpaceX shares began trading on the stock market in New York at approximately $150 per share. Investor demand quickly pushed the stock higher, with shares climbing to as much as $176 within the first two hours of trading.

Although the stock later retreated from its intraday high, it still finished the session strongly at $160.95 per share. The closing price represented an increase of about 19% above SpaceX’s own estimated debut valuation of $135 per share.

The surge in SpaceX’s market value significantly boosted Musk’s personal fortune, allowing him to cross the trillion-dollar threshold and secure his place as the world’s first trillionaire.

Musk is already one of the most recognizable figures in global business, known for leading SpaceX and electric vehicle manufacturer Tesla. Beyond his business ventures, he has attracted both admiration and criticism for his outspoken presence on social media and his comments on political issues in the United States and abroad.

The billionaire’s influence expanded further following his acquisition of the social media platform X, where he frequently shares views on politics, technology and current affairs.

Despite the strong opening performance, some analysts noted that the stock closed below the most optimistic forecasts. Several early estimates had suggested SpaceX shares could reach as high as $190 on their first day of trading.

According to Samuel Kerr, an analyst at Mergermarket, the initial trading performance was solid but not extraordinary. He said the more important measure of success will be how the stock performs over the coming weeks and months.

Kerr noted that while investors often focus on a company’s first day of trading, the longer-term stability of the share price will provide a clearer indication of market confidence in SpaceX’s future growth prospects.

Ferrari has revealed its first fully electric vehicle, the Luce, marking a major shift for the iconic sports car brand.

The new EV, priced at about $640,000 (£474,320), was unveiled in Rome by Ferrari chief executive Benedetto Vigna, who said the project had taken five years to develop.

Named “Luce” — the Italian word for “light” — the model breaks with traditional Ferrari styling as the company’s first-ever five-seater vehicle.

The car was developed in collaboration with LoveFrom, the creative agency founded by former Apple design chief Jony Ive.

Reaction online has been sharply divided, with some social media users criticising the design while others praised it as a bold and innovative direction for the famous Italian manufacturer.

Ferrari said the Luce uses a Ferrari-built electric motor on each wheel, allowing it to accelerate from 0 to 60mph (96km/h) in around 2.5 seconds.

The company also stressed that all major components are produced in-house, which it says will allow Ferrari to maintain and repair the vehicle long into the future while helping preserve resale values.

The launch comes as several luxury carmakers reconsider their electric vehicle strategies because of weaker-than-expected demand and rising competition from Chinese manufacturers.

Brands including Lamborghini and Porsche have recently scaled back parts of their EV ambitions.

At the same time, automakers such as Ford Motor Company and Volkswagen have increased focus on petrol-powered vehicles, particularly in the United States, following slower EV demand and regulatory changes introduced under Donald Trump.

Ferrari chief design officer Flavio Manzoni acknowledged that the concept of an electric Ferrari with a radically different appearance would be “polarising”.

Speaking in an interview with YouTuber Cleo Abram, Manzoni said criticism was part of innovation and predicted public opinion would shift over time.

Ferrari has also confirmed it will continue producing petrol and hybrid models alongside its new all-electric vehicle lineup.

OpenAI says it is amending its recent agreement with the United States Department of Defense following criticism over the potential use of its technology in classified military operations.

Chief executive Sam Altman announced that the company will insert clearer restrictions into the contract, explicitly prohibiting the intentional use of its systems for domestic surveillance of US citizens and nationals.

The controversy emerged after tensions between OpenAI’s rival Anthropic and the Pentagon, related to concerns that Anthropic’s AI model, Claude, could be used for mass surveillance or in fully autonomous weapons systems.

In a statement over the weekend, OpenAI said its Pentagon agreement contained “more guardrails than any previous agreement for classified AI deployments”. However, Altman later acknowledged that the rollout of the deal had been rushed.

“The issues are super complex, and demand clear communication,” he wrote on social media, adding that the company had sought to de-escalate tensions but recognised that the announcement appeared “opportunistic and sloppy”.

Under the revised terms, intelligence agencies such as the National Security Agency would require additional contractual modifications before being permitted to use OpenAI systems.

The backlash has had measurable effects. Reports indicate that day-over-day uninstalls of the ChatGPT mobile app surged sharply following the announcement, while Anthropic’s Claude climbed to the top of Apple’s App Store rankings.

Anthropic’s model had previously been blacklisted by the administration of Donald Trump after the company refused to abandon a corporate principle barring the use of its technology in fully autonomous weapons. Despite that position, reports have since indicated that Claude was used in the US-Israel conflict with Iran shortly after the ban.

The Pentagon has declined to comment on its arrangements with Anthropic.