Trump, Musk Praise Each Other at Farewell News Conference
WASHINGTON—President Trump said farewell to Elon Musk on Friday, closing out one of the most turbulent periods in modern government, with an Oval Office news conference in which both men said their relationship would continue.
'He's my friend and he's done a fantastic job,' Trump said. 'He didn't need this and we find that government's a little nasty on occasion.' He said the world's richest man 'delivered a colossal change in the old ways of doing business in Washington.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
6 minutes ago
- Yahoo
Nexus Uranium Comments on Recent Uranium Market Developments
Vancouver, British Columbia--(Newsfile Corp. - June 5, 2025) - Nexus Uranium Corp. (CSE: NEXU) (OTCQB: GIDMF) (FSE: 3H1) ("Nexus" or the "Company") is pleased to provide an update on recent uranium market developments which positively impact the underlying fundamentals for uranium exploration, development and production. Recent market developments include the US Executive Order, spot market update, Small Modular Reactor (SMR) developments, and continued AI-driven power supply agreements, all of which have resulted in an overall improvement in the underlying uranium supply-demand fundamentals. Additionally, the Company is still awaiting pending geochemical assay results from the Winter 2025 drill program at its flagship Cree East project in the Athabasca Basin. Notable Uranium Market Developments: US Executive Order: Trump's Executive Order aims to revitalize the U.S. nuclear sector and restore domestic control over the uranium fuel cycle, establishing a national energy policy, accelerating reactor deployment, and rebuilds domestic fuel supply infrastructure. Strengthening Spot Price: Uranium spot prices have bounced off of 52-week lows of ~US$62/lb, rebounding to ~US$72/lb, on the back of improving sentiment and resumed utility activity. SMR Announcements: NuScale Power secured U.S. Nuclear Regulatory Commission (NRC) approval for its 77 MW reactor, making it the first reactor to earn NRC certification. AI-Driven Power Demand: Meta's recent 20-year supply deal continues the flurry of announcements from the likes of Google and Amazon. "The supply-demand fundamentals for uranium and clean, high-efficiency, scalable nuclear power remain as robust as ever," commented Jeremy Poirier, CEO of Nexus Uranium. "The US pronouncements and NRC's first SMR certification paves the way for significant expansion of nuclear development within the United States and ultimately for Canadian uranium explorers and developers given the reliance given the significant supply deficit for domestic production. Additionally, surging demand for AI and cloud computing puts increasingly greater requirements for clean, efficient, baseload power supply as evidenced by a string of tech-nuclear partnerships including the recent partnership between Meta and Constellation Energy." US Executive Order President Trump signed four executive orders (EOs) on May 23, 2025, intended to significantly boost U.S. deployment of advanced nuclear technologies through directives such as expediting regulatory review processes, promoting nuclear energy exports, and reforming the Nuclear Regulatory Commission. These included provisions for deployment at military installations, prioritizing the development of data centres, building a fuel bank of at least 20 tons of nuclear fuel, promoting nuclear exports, expanding capacity from 100 GW in 2024 to 400 GW by 2050, expediting timelines for project review and approval, and strengthening all aspects of the domestic supply chain. Spot Pricing Update Uranium futures rose to $71.9 per pound in early June, hovering near its highest level in over three months, and extending the rebound from eighteen-month lows in March as the possibility of political support for the nuclear sector outweighed the view of ample supply. Additionally, lack of clarity on future levies on uranium imports from Canada and Kazakhstan maintained the stress on the limited domestic capacity. SMR Developments NuScale Power has won design approval from the U.S. Nuclear Regulatory Commission (NRC) for its upgraded 77 megawatt-electric (MWe) small modular reactor (SMR), marking a key moment for the U.S. nuclear energy industry. This marks the first SMR design to earn NRC certification. Overall, SMR's allow for expedited development with scalable power with the footprint of a comparably sized conventional reactor. This announcement boosts the push for reliable, low-carbon energy as demand for cleaner electricity grows. AI-Driven Power Demand Facebook parent, Meta Platforms Inc., signed a 20-year power supply deal with Constellation Energy to help meet surging demand for artificial intelligence and other computing needs. This announcement is the latest in a string of tech-nuclear partnerships, driven by the expansion of AI, which includes Amazon, Google and Microsoft both investing in small modular reactors and long-term power supply agreements to power their fast-growing artificial intelligence platforms. About Nexus Uranium Corp. Nexus Uranium Corp. is a multi-commodity development company focused on advancing the Cree East uranium project in the Athabasca Basin in addition to its precious metals portfolio that includes the Napoleon gold project in British Columbia and a package of gold claims in the Yukon. The Cree East project is one of the largest projects within the Athabasca Basin of Saskatchewan spanning 57,752 hectares (142,708 acres) and has seen over $20 million in exploration to date. The Napoleon project comprises over 1,000 hectares and prospective for multiple forms of gold mineralization, with exploration in the area dating back to the 1970s with the discovery of high-grade gold. The Yukon gold projects are comprised of almost 8,000 hectares of quartz claims prospective for high-grade gold mineralization.. The technical content of this news release has been reviewed and approved by Warren D. Robb, (BC), a Director and VP Exploration of Nexus Uranium Corp. and a Qualified Person under National Instrument 43-101. -- FOR FURTHER INFORMATION PLEASE CONTACT: Jeremy PoirierChief Executive Officerinfo@ This news release includes certain statements and information that may constitute "forward-looking information" within the meaning of applicable Canadian securities laws. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information, including, but not limited to, any planned exploration at the Cree East Project. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release, including, but not limited to the assumption that the Company will be successful in finalizing its planned drill program, including retaining a contractor to complete such program. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including, but not limited to: the risk that the conditions to closing of the proposed sale of the Company's interest in the Independence Project will not be satisfied and inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company's most recently filed management's discussion & analysis. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. To view the source version of this press release, please visit
Yahoo
7 minutes ago
- Yahoo
SpaceX launches Starlink satellite stack from Vandenberg Space Force Base (photos)
When you buy through links on our articles, Future and its syndication partners may earn a commission. SpaceX launched another batch of its Starlink satellites this evening (June 4) from California. A Falcon 9 rocket launched SpaceX's Starlink 11-22 mission from Vandenberg Space Force Base today at 7:40 p.m. EDT (2340 GMT; 4:40 p.m. local time in California). The stack of 27 Starlink satellites began their journey into low Earth orbit (LEO) aboard a Falcon 9 first-stage booster designated B1063. This was the 26th launch of B1063, which has now supported 18 Starlink missions. Booster 1063 missions Sentinel-6 Michael Freilich | DART | Transporter-7 | Iridium OneWeb | SDA-0B | NROL-113 | NROL-167 | NROL-149 | 17 Starlink missions The nine Merlin engines at the bottom of B1063 shut down approximately 2.5 minutes after liftoff, followed immediately by the separation of the booster from the Falcon 9's upper stage. About 8.5 minutes after liftoff, the B1063 landed safely on SpaceX's Of Course I Still Love You drone ship, stationed in the Pacific Ocean. Its successful landing inches it closer to SpaceX's record-holder B1067, which has flown a total of 28 launches. The rocket's upper stage continued toward LEO, ultimately deploying the 27 Starlink satellites there about one hour into flight. Each satellite will maneuver into more specific orbits within the Starlink's megaconstellation over the next few days. Related stories: — SpaceX: Facts about Elon Musk's private spaceflight company — Starlink satellites: Facts, tracking and impact on astronomy — SpaceX Falcon 9 rocket launches 21 Starlink satellites on record-setting 26th flight (video, photos) SpaceX's Starlink network consists of more than 7,600 operational satellites and counting. As a whole, they operate in a lattice that provides a blanket of coverage to nearly all of the planet. Starlink offers users a high-speed internet connection from anywhere customers are able to point their Starlink receiver toward the sky (other than the poles). Tonight's launch was SpaceX's 68th Falcon 9 mission of 2025 and 71st overall liftoff so far this year. The additional three were test flights of Starship, SpaceX's next-generation super-heavy-lift rocket, which most recently launched on May 27.
Los Angeles Times
8 minutes ago
- Los Angeles Times
Can Elon Musk get Tesla back on track? Here are four road bumps
After a tumultuous months-long period by President Trump's side, Elon Musk is turning his attention back to his companies, including the stumbling electric vehicle maker Tesla Inc. Musk announced on X last week that his time as a special government employee was over. Tesla investors welcomed the news, hoping that Musk's departure from Washington would boost his car company's reputation and lagging performance. Since Musk began his role leading the White House advisory team called the Department of Government Efficiency in January, Tesla's stock has fallen roughly 12%. On Tuesday, the shares closed at $332, down 3.5%. The Austin, Texas-based company — which has a significant manufacturing operation in Fremont, Calif., and is the dominant EV company in the state — has been the subject of protests and vandalism as Musk, the company's chief executive, aligned himself with Trump and made controversial spending cuts on behalf of the federal government. The brand damage spread outside the U.S. to Europe, where monthly sales in 32 countries fell nearly 50% in April. 'It was very important for Musk to end this chapter and start working on Tesla's next stage of growth,' Wedbush Securities analyst Dan Ives said. 'Now he can get back to what he's supposed to be doing.' As the executive shifts his focus back to Tesla, here are four challenges experts say he must tackle: By associating himself with the president and the Trump administration's erratic actions, Musk alienated a large swath of his customers. Many Tesla drivers are liberal-leaning, industry analysts said, and were drawn to the company's environmental mission to take gas cars off the road. In protest over Musk's activities, some Tesla drivers, including celebrities, began selling or getting rid of their vehicles. Others sported new bumper stickers that said, 'I bought this before we knew Elon was crazy.' In February, Tesla topped the list of brands that lost the most resale value year over year, according to data provided by Karl Brauer, an analyst with The price of a used Tesla Model S and Model Y each dropped by about 16% in February from a year earlier. 'Price is a reflection of supply and demand,' Brauer said. 'So it could be that nobody wants to buy them anymore, or that there's a massive influx of them available, or both.' Now that he's left Washington, Musk will have to prove that his attention is on Tesla and that he isn't prioritizing political agendas. Ives estimated that about 5% to 10% of the brand damage sustained during Musk's stint in the capital will be permanent. 'Tesla has become a political symbol around the world and that's not a good thing,' said Ives, who has an 'outperform' rating on Tesla's stock. 'But there are much brighter days ahead now that Musk is no longer in the White House.' Musk has made lofty promises for years about the capabilities of Tesla's self-driving technology and plans for a robotaxi service. Though he has often over-exaggerated his progress, Musk has taken important steps toward commercializing autonomous driving technology. The future of his company depends on whether he can follow through, experts said. 'Musk's top priority should be autonomy and robotics,' Ives said. 'With these technologies, I believe Tesla's market cap could reach $2 trillion.' The company is currently valued at just over $1 trillion. According to claims Musk has made, Tesla drivers will one day be able to sleep in their car as it drives them across the country. Tesla's robotaxis will roam city streets, and humanoid robots dubbed Optimus will perform everyday tasks. Brauer compared the emergence of autonomous driving technology to a change on the scale of the internet or smartphones. But it's still far off, he said. Although the driverless taxi company Waymo is already operating in a few cities including Santa Monica, it could take 10 to 15 years for the technology to become widely accessible and integrated into society, Brauer said. Tesla remains the dominant force in the electric vehicle market, but rapidly increasing competition from traditional carmakers and other EV manufacturers have thinned sales, Brauer said. Major manufacturers including Ford and Chevy have released lines of their own electric vehicles, while promising startups such as Irvine-based Rivian have cut into Tesla's market share. At the same time, demand for electric vehicles is plateauing as the market gets saturated, Brauer said. Tesla's profit plummeted 71% in the first quarter to $409 million as the company faced a flurry of setbacks, including a falloff in automotive sales and rising competition. To keep up and remain viable, Tesla will have to reassess aspects of its business model. 'Many people, I think including Musk himself, have realized that the current business model is pretty much played out,' Brauer said. 'He's not going to substantially increase his revenue and his profit selling these same electric cars.' Tesla could receive a boost in sales if it successfully launched an affordable model accessible to more customers, but despite rumors and claims by executives, a release date has not been announced. The company could be further hurt by the loss of a $7,500 federal electric vehicle credit, which encourages sales and is likely to be eliminated by the Trump administration. While chargers for electric vehicles are ubiquitous in many parts of California, infrastructure is lacking throughout large areas of the country — and that's a problem. For the U.S. to rely more heavily on EVs, significant progress has to be made on the network of charging stations, Brauer said. Finding a time and place to charge is an obstacle for many Tesla drivers and limits the range of customers Tesla can reach. The lack of a fully comprehensive charging network would also hinder Musk's plans to operate a nationwide robotaxi service, Brauer said. In California, many chargers are broken or have been intentionally damaged by protesters.
