Bay Street fund manager Picton Investments shopped itself to buyers and minority investors - The Globe and Mail

Elon Musk said he likes the idea of merging Tesla with SpaceX in a potential move that would create a roughly $3.5 trillion technology giant combining AI, space exploration and electric vehicle manufacturing. “Do I think it would be a good idea? Yes,” Musk said of the potential merger during a SpaceX Q3 earnings call on Tuesday. Musk said that both SpaceX and Tesla have formed special committees of independent directors to discuss the idea at the request of shareholders, though he isn’t able to take part in the discussions due to being a conflicted party. A merger would bring Tesla into the same corporate group as Grok developer SpaceXAI (formerly xAI) and social media platform X, which SpaceX acquired in February. The talks also come as SpaceX’s AI business became its largest revenue segment in Q3, underscoring how central artificial intelligence has become to Musk’s expanding technology empire. “There’s a lot to be gained from cooperating on developing superintelligence software, chip design, the Terafab, obviously, robotics, mass to orbit with the Starmind constellation. Connectivity,” said Musk.

Open this photo in gallery:Trading numbers are displayed at the New York Stock Exchange at the opening bell in New York City on Monday. ANGELA WEISS/AFP/Getty ImagesThe United States is mired in an overseas conflict, inflation is on the rise, Canadians are uniting behind their flag and the top 10 companies in the S&P 500 make up nearly 40 per cent of the index. It is 1965. Today’s U. S. financial markets, dominated by technology companies and riding on enthusiasm for artificial intelligence, might appear unrecognizable to investors of the 1960s. But modern investors could be exposed to risks that would have seemed familiar a couple of generations ago: With high levels of index concentration – the domination of major market indexes by a small number of names – investors may be far less diversified than they think. Recent research by Toronto-based Picton Investments found that 83 per cent of Canadian investors are confident their portfolios are diversified, but only 57 per cent say they are familiar with the concept of index concentration.