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Hydrogen stocks are benefiting from cleantech sector momentum as the world moves closer to a green energy future.

The most abundant element on Earth, hydrogen is a colorless gas. It can be produced in liquid form and burned to generate electricity, or combined with oxygen atoms in fuel cells. In this way, hydrogen — which produces no carbon emissions — can replace fossil fuels in household heating, transportation and industrial processes such as steel manufacturing.

Rising demand for carbon-free energy sources alongside significant new government policies are driving growth in the hydrogen market. Grand View Research projects that the global hydrogen-generation market will grow at a compound annual growth rate of 9.3 percent from 2024 to 2030, reaching US$317.39 billion by the end of the forecast period.

It’s worth noting that the downside to hydrogen as a clean energy source is that 99 percent of the hydrogen fuel currently in production is derived from power generated by coal or gas. To combat this problem, some companies are pursuing green hydrogen, which is produced by splitting hydrogen atoms from oxygen using electrolyzers powered by renewable energy.

The hydrogen stocks on this list are focused on a diverse range of sectors in the hydrogen space, including: low-carbon hydrogen gas production, green hydrogen technology and production, hydrogen fuel cell companies, and hydrogen distribution and storage.

US hydrogen stocks

The US hydrogen market is well established, accounting for “more than half the world’s fuel cell vehicles, 25,000 fuel cell material handling vehicles, more than 8,000 small scale fuel systems in 40 states, and more than 550 MW of large-scale fuel cell power installed or planned,” according to the Fuel Cell and Hydrogen Energy Association.

The US was also the top exporter of hydrogen in 2023 with US$2.15 billion in exports based on data from the Observatory of Economic Complexity (OEC).

Looking at the medium to long term, the use of hydrogen as a fuel source is expected to grow. While the strong government incentives enacted under former US President Joe Biden’s Inflation Reduction Act, such as a production tax credit, may be on the ropes under the Trump Administration, there is still optimism among industry leaders.

1. Linde (NYSE:LIN)

Company Profile

Market cap: US$213.49 billion
Share price: US$453.26

Leading global industrial gases and engineering company Linde has been producing hydrogen for more than a century and is a pioneer in new hydrogen production technologies. Linde’s operations cover each step of the hydrogen value chain, from production and processing through distribution and storage. The company also uses its gases for industrial and consumer applications.

Globally, the company has more than 500 hydrogen production plants. Through its ITM Linde Electrolysis joint venture, Linde has become one of the world’s leading suppliers of green hydrogen produced using proton exchange membrane (PEM) electrolyzer technologies. This also makes it one of the few green hydrogen stocks.

In August 2024, Linde signed a US$2 billion long-term supply agreement to supply clean hydrogen to Dow (NYSE:DOW) subsidiary Dow Canada’s Path2Zero project in Fort Saskatchewan, Alberta.

In response to the regulatory uncertainties under the Trump Administration, Linde announced in its Q4 2024 earnings call that 90 percent of its US clean hydrogen projects will be focused on blue hydrogen, which is created by reforming natural gas with carbon capture storage. Blue hydrogen is more cost effective to produce, and although it is not zero emission like green hydrogen, it is more environmentally friendly than grey hydrogen produced with coal.

2. Air Products & Chemicals (NYSE:APD)

Company Profile

Market cap: US$65.32 billion
Share price: US$292.85

Founded in 1940, Air Products & Chemicals sells industrial gases and chemicals and provides related equipment and expertise to a wide range of industries, including the refining, chemical, metals, electronics, manufacturing, and food and beverage segments.

In addition to producing oxygen, nitrogen, argon and helium, the company operates more than 100 hydrogen plants and maintains the world’s largest hydrogen distribution network. Air Products has an extensive hydrogen-dispensing technology patent portfolio and has been involved in more than 250 hydrogen-fueling projects worldwide.

Air Products also has a joint venture project now under construction with ACWA Power (SR:2082) and NEOM Company in Saudi Arabia. Called the NEOM Green Hydrogen Complex, the operation will be powered by 4 gigawatts of renewable power from solar and wind to produce 600 metric tons per day of carbon-free hydrogen, which it says will be delivered in the form of green ammonia. Once production begins at the complex in 2026, Air Products will be the sole off-taker and plans to deliver the green ammonia to Europe’s transport sector.

Air Products’ Louisiana Clean Energy Complex, its largest US investment, is also making headway, with first production expected in 2028. The complex will produce blue hydrogen for power mobility and industrial markets in the Gulf Coast region and other markets.

3. Cummins (NYSE:CMI)

Company Profile

Market cap: US$43.71 billion
Share price: US$312.92

Indianapolis-based Cummins designs, manufactures and distributes engines, filtration and power-generation products with a specialization in diesel and alternative fuel engines and generators.

In March 2023, the company announced the launch of a new brand, Accelera, which features “a diverse portfolio of zero-emissions solutions, includ(ing) battery systems, fuel cells, ePowertrain systems and electrolyzers.” The brand encompasses Cummins’ established battery electric and hydrogen fuel cell systems, as well as electrolyzers for hydrogen refueling stations. Shortly after, Accelera began production at its first US electrolyzer facility, located in the state of Minnesota.

The hydrogen fuel cell company showcased its next generation B6.7H hydrogen engine at the April 2024 Intermat Sustainable Construction Solutions and Technology Exhibition in Paris. The following month heralded the launch of Accelera’s next-gen hydrogen fuel cell technology for commercial vehicles, specifically the FCE300 and FCE150 fuel cell engines.

Accelera inked a deal in February 2025 to supply a 100 megawatt PEM electrolyzer system for BP’s (NYSE:BP,LSE:BP) Lingen green hydrogen project in Germany. The system is Accelera’s largest to date and uses its HyLYZER PEM electrolyzer technology.

Canadian hydrogen stocks

Like its neighbor to the south, Canada is a world leader in hydrogen and fuel cell technologies, especially when it comes to innovation, research and development. The country reportedly generates C$200 million in hydrogen technology exports according to data from January 2023. In terms of the global hydrogen market, the country exported $385 million worth of hydrogen in 2023, ranking ninth overall according to the OEC.

The federal government is heavily invested in the sector both in terms of funding and the implementation of clean energy policies. “The Hydrogen Strategy for Canada laid out a framework that focuses low-carbon hydrogen as a tool to achieve our goal of net-zero emissions by 2050, while creating jobs, growing our economy, expanding exports and protecting our environment,’ Natural Resources Canada states.

In British Columbia, the Government of Canada invested C$9.4 billion to launch a new Clean Hydrogen Hub that will use electrolyzer technology and hydroelectricity to generate hydrogen that can be sold to industry users.

On the global stage, Canada and its trading partner Germany have agreed to each commit C$300 million for a total of C$600 million to launch Atlantic Canada’s hydrogen export industry, which will send hydrogen to Germany. However, delays due to factors including high hydrogen prices and inflation as well as lack of infrastructure have pushed the expected start of exports back from 2025.

1. Ballard Power Systems (TSX:BLDP)

Company Profile

Market cap: C$526.98 million
Share price: C$1.82

Ballard Power Systems is a global leader in hydrogen fuel cell technology and is working to accelerate the adoption of this technology. The company develops and manufactures PEM fuel cell products that create electrical energy from the combination of hydrogen and air. Ballard’s products are designed for heavy-duty trucks, buses, trains and marine applications, as well as backup power storage.

Two of Ballard’s 200 kilowatt fuel cell modules are located on the world’s first hydrogen-powered ferry, operated by Norwegian company Norled. The company is also supplying hydrogen fuel cell modules to global carbon-reduction company First Mode; they will be used to power several hybrid hydrogen and battery ultra-class mining haul trucks.

In January 2024, Ballard secured a supply contract for a minimum of 100 of its FCmove-HD+ modules to NFI Group to be used in the latter’s New Flyer next generation Xcelsior CHARGE FC hydrogen fuel cell buses, which will be deployed across the US and Canada. The company also announced in April 2024 that it had secured its largest order ever — 1,000 hydrogen fuel cell engines to be supplied to European bus manufacturer Solaris.

Ballard signed a multi-year supply agreement with an Egypt-based company named Manufacturing Commercial Vehicles, in which Ballard will supply 50 FCmove-HD+ fuel cell engines to support projects in the European Union with deliveries expected between 2025 and 2026.

2. Westport Fuel Systems (TSX:WPRT)

Company Profile

Market cap: C$91.5 million
Share price: C$5.07

Headquartered in Vancouver, British Columbia, Westport Fuel Systems supplies advanced alternative fuel delivery components and systems to the transportation industry worldwide. This includes its high pressure direct injection (HPDI) fuel system for commercial vehicles, which can run on biogas, natural gas, hydrogen and other alternative fuel products.

The company has operations in partnership with leading global transportation brands across more than 70 countries across Europe, Asia, North America and South America.

One of those partners is Swedish automaker Volvo Group (STO:VOLV-B). The two firms are working together to commercialize Westport’s HPDI fuel system technology for long-haul and off-road applications that will use renewable fuels now and hydrogen in the future.

Westport is also working with a leading global provider locomotive original equipment manufacturer on a two-year proof of concept project to adapt its hydrogen HPDI fuel system for use with the company’s engine design. The project is fully funded by the locomotive company.

3. Tidewater Renewables (TSX:LCFS)

Company Profile

Market cap: C$90.25 million
Share price: C$2.32

Tidewater Renewables produces renewable diesel and hydrogen at its facilities located near Prince George in BC, Canada. The plant has a nameplate capacity of 3,000 barrels per day of renewable diesel and 23.7 metric tons per day of hydrogen. It began production during Q4 2023 using feedstock that included soybean and canola oil.

Tidewater is now focused on expanding operations at the site to produce sustainable aviation fuel, targeting 2028 for first production.

Australian hydrogen stocks

Australia is another important hotspot for investing in hydrogen. The Australian Government says that ‘over AU$200 billion is currently in the investment pipeline for hydrogen and derivatives,’ accounting for 20 percent of announced renewable hydrogen projects worldwide.

The Australian government’s National Hydrogen Strategy, which it updated in 2023, highlights its intention to position the country as a “major player” in the global hydrogen market by 2030. To this end, Australia has partnered with a number of other nations on hydrogen technology.

Australia and Germany are working together on a hydrogen technology development program that will help Australia build out its capacity to export hydrogen to Germany as it seeks to reduce its reliance on fossil fuels. Through a partnership with Japan, Australia is developing new hydrogen fuel cell technology and looking to establish the world’s first clean liquefied hydrogen export pilot project, and its government has invested more than AU$500 million in the development of regional hydrogen hubs across the country.

In May 2024, the Australian government announced an AU$22.7 billion package to bolster the country’s domestic manufacturing and renewable energy sector, including AU$6.7 billion for renewable hydrogen production starting in mid-year 2028 through the 2039/2040 fiscal year.

1. Gold Hydrogen (ASX:GHY)

Company Profile

Market cap: AU$70.29 million
Share price: AU$0.45

Gold Hydrogen is an exploration and development company with a focus on making new hydrogen and helium discoveries in South Australia using recorded government data with modern exploration techniques.

During initial drill work conducted at its Ramsey project in 2023, Gold Hydrogen reconfirmed the historical figures for hydrogen while demonstrating new purity levels of up to 86 percent. Additionally, strong levels of up to 17.5 percent purity helium were found.

In August 2024, Gold Hydrogen reported high concentrations of hydrogen and helium at surface. Using new seismic information, the company has identified sites for its first wells, which it intends to drill beginning in 2025. “To have an initial world first to see Hydrogen and Helium to surface is very exciting for our further ongoing exploration and drilling programs in even better locations,” Gold Hydrogen Managing Director Neil McDonald stated.

Gold Hydrogen announced in February 2025 that it had received a AU$6.45 million research and development tax refund associated with its natural hydrogen and helium exploration activities for the fiscal year ended June 30, 2024. The refund will help fund the company’s 2025 work to delineate the hydrogen and helium accumulation at Ramsey.

2. Hazer Group (ASX:HZR)

Company Profile

Market cap: AU$67.93 million
Share price: AU$0.30

Technology development company Hazer Group is working to commercialize the HAZER Process, a low-emission hydrogen and graphite production process initially developed at the University of Western Australia. It uses iron ore as a process catalyst to convert natural gas and similar feedstocks into hydrogen for use as an industrial chemical and in fuel cells, as well as into high-quality synthetic graphite for use in lithium-ion batteries.

Hazer started operations at its commercial demonstration plant in early 2024 and it is now producing hydrogen and graphitic carbon.

In May 2024, the company inked an agreement with Canadian utility FortisBC for the development of a hydrogen production facility in British Columbia that will use Hazer’s proprietary technology. The proposed commercial production facility will have a design capacity of up to 2,500 metric tons per year of clean hydrogen and approximately 9,500 metric tons per year of Hazer graphite.

The company announced in March 2025 that it had successfully completing its commercial reactor test program, validating a commercial scale-up reactor design. ‘The equipment was designed to mimic key aspects of the Hazer Process for producing hydrogen and graphite at commercial scale, and the completion of this testing is a major milestone for the government support from CleanBC,’ the press release states.

3. Pure Hydrogen (ASX:PH2)

Company Profile

Market cap: AU$25.77 million
Share price: AU$0.08

Pure Hydrogen is focused on becoming a leading producer and supplier of hydrogen and hydrogen-fuel-cell-powered vehicles such as buses and waste collection vehicles. The company has several partnerships with companies for its technology. Pure Hydrogen’s hydrogen-fuel-cell-powered Prime Mover truck was displayed at the Brisbane Truck Show last year.

Pure Hydrogen has a 40 percent stake in the Turquoise Group, an Australian clean energy company, as well as exclusive long-term acquisition rights for the company’s future hydrogen production. Turquoise Group announced in May 2024 that it had produced the first graphene powder and hydrogen during testing at its commercial demonstration plant in Brisbane, Queensland. In August 2024, Pure Hydrogen registered Australia’s first hydrogen-powered semi-truck, the Hydrogen Fuel Cell 110kW 6×4 Prime Mover.

Pure Hydrogen’s majority-owned subsidiary HDrive confirmed in January 2025 that it had sold two Taurus 70 metric ton hydrogen fuel cell prime movers to Australian logistics services provider TOLL Transport as part of a broader AU$2 million package. The vehicles are slated for delivery in the fourth quarter of the calendar year.

FAQS for hydrogen investing

Which is better: EVs or hydrogen?

According to research from TWI Global, there are pros and cons to both electric vehicles (EVs) and hydrogen vehicles. In terms of range and charging time, hydrogen beats electric hands down. However, while a hydrogen-powered vehicle doesn’t need much time to refuel compared to an EV, there is still much more EV charging infrastructure currently available compared to hydrogen fueling stations. EVs are also cheaper to purchase than hydrogen vehicles. As far as safety and emissions are concerned, it’s a draw between the two.

Why does Elon Musk not like hydrogen?

Elon Musk’s SpaceX has used hydrogen to fuel its rockets, and in 2023 Musk talked about hydrogen playing an important role in industrial applications, such as steelmaking. However, he has balked at the idea of hydrogen fueling vehicles, calling fuel cells “fool sells.” Speaking at a Financial Times conference in May 2022, Musk said, “It’s important to understand that if you want a means of energy storage, hydrogen is a bad choice.”

Starting in 2024, rumors began spreading that Tesla (NASDAQ:TSLA) was planning to launch a Tesla Model H powered by hydrogen, but they have been proven false.

Why is Toyota investing in hydrogen?

Toyota (NYSE:TM,TSE:7203) first invested in hydrogen fuel cell technology in 1992 as its executives saw clean energy as the future of transport. However, with EVs dominating the clean car space, the automaker began to shift its focus to compete with its peers. Toyota brought its newest hydrogen-powered vehicle to market in the fall of 2023 — a revamped Crown sedan that also has a hybrid-electric version. The following year, the auto maker introduced the first prototype of its Toyota Hilux trucks with a hydrogen fuel cell powertrain.

In 2025, Toyota shared its long-term strategy for developing hydrogen passenger vehicles as well as hydrogen technologies for long-haul freight.

Who is the leader in hydrogen energy?

Some countries leading in green and blue hydrogen production are the US, Germany and Canada. Many countries around the world have released clean hydrogen strategies, including the US, Canada and many countries in the Europe Union. However, clean hydrogen production is still in the early phases as countries develop infrastructure.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

: A top former spokesperson for former President Joe Biden blasted President Donald Trump and Republicans in Congress for proposing potential judicial impeachments as the administration encounters court-imposed obstacles in enacting its agenda. 

Former White House spokesperson Andrew Bates now advises a group known as Unlikely Allies, which says it is working to create ‘cross-partisan support for the needs and interests of all Americans.’

‘Radical, corrupt attacks on judges are putting our Constitution and the freedom of every single American in danger from government overreach,’ Bates told Fox News Digital on the group’s behalf. ‘For the first time in history, our president and members of his party in Congress are colluding to impeach any federal judge who stops the most powerful person in the world from breaking the law.

‘The president has also called for making dissent illegal, which would trample the First Amendment and threaten the fundamental right of any American to disagree with his agenda — whether it’s cutting taxes for the rich or raising the prices he falsely promised to lower.’ 

According to the group, Unlikely Allies ‘is made up of everyday citizens, families, communities, and organizations who are committed to solving our toughest problems, together.’

‘Driven by the values that unite us, our goal is to create unified, cross-partisan support for the needs and interests of all Americans. This isn’t about left or right, Republican or Democrat — it’s about American values and holding our government accountable,’ a description of the organization says. 

The White House responded to Bates’ statement, with deputy press secretary Anna Kelly telling Fox News Digital, ‘Biden communications alum Andrew Bates has no credibility after lying to the world about Biden’s cognitive decline. Just like these judges, Bates is a left-wing activist masquerading as a nonpartisan as he works to destroy the separation of powers and subvert the will of the American people.’ 

The dispute comes as federal judges across the country continue to impose restrictions on Trump actions until further review and legal determinations. 

Recently, U.S. District Judge James Boasberg granted an emergency order to temporarily halt the administration’s deportation flights of illegal immigrants.

The judge granted an order to review the 1798 wartime-era Alien Enemies Act being invoked by the administration to immediately deport Venezuelan nationals and alleged members of the violent gang Tren de Aragua.

This only further angered the president, who appeared to call for Boasberg’s impeachment.

‘This judge, like many of the Crooked Judges’ I am forced to appear before, should be IMPEACHED!!! WE DON’T WANT VICIOUS, VIOLENT, AND DEMENTED CRIMINALS, MANY OF THEM DERANGED MURDERERS, IN OUR COUNTRY. MAKE AMERICA GREAT AGAIN!!!’ Trump said on Truth Social.

Republicans in general have appeared to scrutinize the ability of federal district judges to make blanket nationwide orders in recent days. 

‘Federal judges aren’t there to replace presidential policy choices,’ Sen. Mike Lee, R-Utah, wrote on X. ‘Nor is it their job to neuter presidents by delaying presidential decisions.

‘Their job is to resolve disputes about what the law says.’ 

Lee also said he is working on a bill to address the issue. 

In the House, Rep. Darrell Issa, R-Calif., has a measure that would prevent federal judges from issuing nationwide injunctions. Multiple sources told Fox News Digital Trump has shown interest in Issa’s bill. Top White House aides shared as much with senior Capitol Hill staff this week, explaining that ‘the president wants this.’

This post appeared first on FOX NEWS

Nolan Watson, president and CEO of Sandstorm Gold (TSX:SSL,NYSE:SAND), discusses the outlook for his company, as well has his broader thoughts on gold.

Even as the yellow metal trades at or near all-time highs, he sees further gains ahead.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

A SpaceX Dragon capsule carrying astronauts Butch Wilmore and Suni Williams, as well as NASA’s Nick Hague and Russian cosmonaut Aleksandr Gorbuno, landed off the Florida coast at 5:57 p.m. EDT on Tuesday (March 18).

This marked the end of a nine month saga for the two astronauts that began last June, when they departed to the International Space Station (ISS) for an eight day mission to test Boeing’s (NYSE:BA) Starliner for future crewed missions.

The astronauts’ prolonged stay and their eventual rescue by SpaceX has undeniably propelled discussions about the reliability and expanded role of commercial entities in space travel.

Boeing Starliner issues and SpaceX rescue mission

Wilmore and Williams’ mission was the Starliner’s first crewed flight, and they were supposed to return after eight days. After they landed on the ISS on June 6, 2024, NASA delayed their return due to technical issues with the Starliner.

NASA had detected a helium leak shortly before launching the Starliner, but proceeded with the mission. However, the spacecraft experienced additional helium leaks and thruster failures during docking. Due to uncertainty about thruster reliability during reentry, NASA opted for an uncrewed return to Earth.

NASA then turned to SpaceX, Elon Musk’s space exploration startup, and began preparations for the crew to return on a SpaceX Dragon capsule. At that time, NASA expected the astronauts to return to Earth in February 2025, but subsequent technical delays led to a revised launch date from earth on March 11.

Wilmore and Williams made the most of their prolonged stay on the ISS, conducting 150 experiments, the CBC reports. Williams also broke the record for total spacewalking time by a female astronaut.

NASA and SpaceX postponed the flight again until March 14 due to an issue with the ground equipment used to support the flight. In the end, SpaceX’s Falcon 9 rocket carrying its Dragon craft left Earth from Florida’s Kennedy Space Center at 7:03 p.m. EDT on Friday, March 14, arriving at the ISS roughly 29 hours later on Sunday, March 16. The Dragon undocked from the ISS to bring the mission home a few days later on Tuesday at 1:05 a.m., landing back on Earth later that day.

“On behalf of Crew-9, I’d like to say it was a privilege to call the station home, to live and work and to be a part of a mission and a team that spans the globe, working together in cooperation for the benefit of humanity,” Hague said as the capsule undocked. “Crew-9 going home.”

Private companies’ growing role in space travel

The successful return of Wilmore and Williams highlights the growing role of private companies in space travel. The aging ISS, slated for decommissioning due to escalating maintenance, helped provide the impetus for this new era.

In June 2023, the US Biden administration awarded SpaceX a contract valued at US$843 million to build a spacecraft that will guide the ISS out of orbit, allowing it to break up upon re-entry into Earth’s atmosphere.

While the mission is slated for 2030, Musk advocated in February for completion within two years. ‘It has served its purpose,’ he posted on X, formerly known as Twitter. ‘There is very little incremental utility. Let’s go to Mars.’

His push for speed comes as competition in the commercial space sector rises. Multiple delays and technical challenges faced by Boeing’s Starliner program have created opportunities for private companies like SpaceX and Jeff Bezos’ Blue Origin to expand their presence and capabilities in the commercial space sector. SpaceX is also developing its Starship reusable launch vehicle, intended for a range of purposes, including travel to the Moon and Mars.

2025 has seen numerous high-profile launches and tests, with each launch representing a strategic step in the broader space race. Blue Origin successfully completed the inaugural launch of its New Glenn rocket in January. SpaceX has also conducted two test flights of its Starship rocket so far this year, although both exploded after launch. Four of eight Starship tests have been successful since its first test in 2023, with the next slated for April.

US-China space race and Musk-Trump conflict of interest

Competition between the US and China for strategic dominance in space has intensified since China’s Chang’e-4 mission achieved the first-ever soft landing on the far side of the Moon in January 2019.

This was a significant technological achievement that demonstrated the capabilities of China’s space program, which benefits from consistent investment by the government.

Conversely, while NASA remains a substantial recipient of government funding, the amount has fluctuated over the decades, leading to periods of constrained budgets. Recognizing the potential for innovation and efficiency, NASA has progressively incorporated commercial partnerships into its programs.

The Artemis program — NASA’s lunar exploration program that directly competes with China’s Chang’e — demonstrates this strategic shift through its collaboration with SpaceX for the Human Landing System. SpaceX has also taken a more active role in providing crew and cargo transportation to the ISS, as well as launch services for various NASA missions.

Musk’s financial support to US President Donald Trump’s campaign sparked concerns over the potential influence the billionaire would have over NASA-related decisions, including funding allocation. Trump’s actions since taking office in January fueled these concerns further — Trump chose Jared Isaacman, a close friend of Musk and a billionaire with no government experience, to head NASA. His appointment not been confirmed by the US Senate at this time.

Subsequent decisions, such as the closure of two NASA offices and NASA laying off significant portions of its workforce to comply with the administration, have intensified concerns about the agency’s future direction and the extent to which private interests may be shaping its priorities. These actions have collectively stoked apprehension about a potential conflict of interest due to Musk’s involvement and the consequences for the agency’s independence and public trust.

Since the November US election results, Musk’s private companies have increased in value significantly. SpaceX’s value alone rose by 67 percent to US$350 billion after a secondary share sale in December 2024.

While purchasing shares of privately held SpaceX is not an option for many investors, those who qualify as accredited investors can invest in a SpaceX funding round. Additionally, accredited investors can access shares through secondary markets, which are platforms where existing shareholders of a private company can buy and sell their shares.

Caplight analysis shows the secondary market has increased the collective value of Musk’s private companies — including SpaceX, xAI, the Boring Company and Neuralink — by 45 percent since the US election.

Javier Avalos, CEO of the trading platform, told Bloomberg that investors are willing to pay more than the latest offer price to acquire shares of SpaceX. Caplight states in its reporting that special purpose vehicles (SPVs), which are legal entities often created to pool investments from multiple contributors, accounted for 43 percent of the total secondary transaction volume in Q4 2024. That’s compared to just 12 percent in 2023.

A March 8 Financial Times article states that three anonymous Chinese asset managers shared they had sold over US$30 million in shares of Musk’s private companies over the past two years to Chinese investors using SPVs.

The sources alleged that Chinese asset managers are promoting Musk’s relationship with Trump “as an enticement to raise capital,’ adding that the asset managers tell their clients that SPVs “are specifically designed to avoid disclosure.”

However, the sources said the investments are primarily profit-driven has little connection with technology transfer or influencing public policy. Rather, Chinese investors have utilized SPVs to mitigate public disclosure risks. “Risks do exist because we are not sure how bad US-China relations will become in the next few years,” one source told the outlet.

Investor takeaway

The successful return of the Crew-9 astronauts aboard a SpaceX Dragon capsule highlights the increasing role of private companies in space travel. This event, coupled with the growing competition in the commercial space sector and strategic shifts in NASA’s approach, signifies a new era in space exploration.

Moreover, the high valuation and investor interest in companies like SpaceX, despite the challenges and competition, further underscores the dynamism and potential of this evolving industry.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

The recent wave of preliminary injunctions from federal judges has stymied President Donald Trump’s early agenda in his second White House term, prompting new questions as to how far the administration might go if it opts to challenge these court orders. 

Federal judges across the country have blocked Trump’s ban on transgender persons serving in the U.S. military, ordered the reinstatement of core functions of the U.S. Agency for International Development, or USAID, and halted Elon Musk’s government efficiency organization, DOGE, from oversight and access to government agencies, among other things. They’ve also temporarily halted deportations, or attempted to, so judges can consider the relevant laws.

Combined, the wave of rulings has been met with outrage from Trump administration officials, some of whom said they plan to appeal the rulings to the Supreme Court, if needed. White House press secretary Karoline Leavitt has used her podium to rail against ‘radical left-wing judges,’ who she has alleged are acting with a political agenda to block Trump’s executive orders.

‘These judicial activists want to unilaterally stop President Trump from deporting foreign terrorists, hiring and firing executive branch employees, and determining the readiness of our troops,’ Leavitt said on X, expanding on remarks made Wednesday at a press briefing.

‘They MUST be reined in,’ she added.

Some of Trump’s supporters in Congress have threatened judges who block the president’s agenda with impeachment, while his critics worry the president’s attacks on the judiciary will collapse the constitutional system, bringing to the fore an impassioned debate over the separation of powers in the Constitution. 

Here’s a rundown of where things stand. 

Courts block Trump agenda 

U.S. District Court Judge Theodore Chuang, an Obama appointee, ruled on Tuesday that DOGE’s efforts to dismantle USAID ‘on an accelerated basis’ likely violated the U.S. Constitution ‘in multiple ways’ and ordered the partial restoration of the agency’s functions, including reinstatement of personnel access to email and payment systems.

Chuang’s preliminary injunction is believed to be the first to directly invoke Musk himself. It said Musk could interact with USAID employees only after being granted ‘express authorization’ from an agency official, and it blocked DOGE from engaging in any further work at USAID.

Hours later, U.S. District Court Judge Ana Reyes issued a preliminary injunction barring the Pentagon from enforcing Trump’s order on transgender persons serving in the military.

Reyes, the first openly gay member of the court, wrote in a scathing 79-page ruling that the Trump administration failed to demonstrate that transgender service members would hinder military readiness, relying on what she described as ‘pure conjecture’ to attempt to justify the policy and thus causing undue harm to thousands of current U.S. service members.  

Both rulings are almost certain to be challenged by the Trump administration. In fact, Reyes was so confident that the Justice Department would file an emergency appeal that she delayed her ruling from taking force until Friday to allow the Trump administration time to file for an emergency stay.

Reyes wasn’t wrong. Senior administration officials vowed to challenge the wave of court rulings, which they said are an attempt by the courts to unduly infringe on presidential powers.

‘We are appealing this decision, and we will win,’ Secretary of Defense Pete Hegseth said on social media.

‘District court judges have now decided they are in command of the Armed Forces…is there no end to this madness?’ White House policy adviser Stephen Miller said later in a post on X. 

Several other high-profile cases are playing out in real time that could test the fraught relationship between the courts and the executive branch, and next steps remain deeply uncertain.

U.S. District Court Judge James Boasberg warned the Trump administration on Wednesday that it could face consequences for violating his court order temporarily blocking it from invoking a little-known wartime law to immediately deport Venezuelan nationals from U.S. soil, including alleged members of the gang Tren de Aragua, for 14 days. 

Boasberg handed down the temporary restraining order Saturday evening, around the time that the Trump administration proceeded to deport hundreds of migrants, including Venezuelan nationals subject to the Alien Enemies Act, to El Salvador. He also ordered in a bench ruling shortly after that any planes carrying these individuals return to the U.S. 

But at least one plane with migrants deported by the law in question touched down later that evening in El Salvador.

‘Oopsie, too late,’ El Salvador’s president said in a post on X.

In the days since, government lawyers citing national security protections have refused to share information in court about the deportation flights and whether the plane (or planes) of migrants knowingly departed U.S. soil after the judge ordered them not to do so.

The White House has repeatedly asserted that lower court judges like Boasberg should not have the power to prevent the president from executing what it argues is a lawful agenda, though the judges in question have disagreed that the president’s actions all follow the law.

‘A single judge in a single city cannot direct the movements of an aircraft carrier full of foreign alien terrorists who were physically expelled from U.S. soil,’ Leavitt told Fox News.

Trump’s border czar, Tom Homan, said in an interview on ‘Fox & Friends’ this week: ‘We are not stopping.’

‘I don’t care what the judges think. I don’t care what the left thinks. We’re coming,’ Homan said, adding, ‘Another fight. Another fight every day.’

Relief on the way?

The administration’s appeals, which are all almost guaranteed, may have a better chance of success than previous cases that reached appellate courts, including one in which the Supreme Court ruled against the president.

There are two types of near-term relief that federal judges can offer plaintiffs before convening both parties to the court for a full case on the merits: a preliminary injunction and a temporary restraining order, or a TRO. 

A TRO immediately blocks an action for 14 days to allow more time for consideration. But it’s a difficult test for plaintiffs to satisfy: they must prove that the order in question would pose immediate and ‘irreparable harm’– an especially burdensome level of proof, especially if it hinges on an action or order that has not yet come into force. 

The outcomes, as a result, are very narrow in scope. One could look to the TRO request granted by U.S. District Court Judge Amir Ali earlier this month, which required the Trump administration to pay out $2 billion in owed money for previously completed USAID projects. 

Since it did not deal with current contracts or ongoing payments, the Supreme Court, which upheld Ali’s ruling, 5-4, had little room to intervene.

The request for a preliminary injunction, however, is a bit more in depth. Successful plaintiffs must demonstrate to the court four things in seeking the ruling: First, that they are likely to succeed on the merits of the claim when it is heard later on; that the balance of equities tips in their favor; that the injunction is considered within the sphere of public interest; and finally, that they are ‘likely’ to suffer irreparable harm in the absence of court action.

This wider level of discretion granted to the district courts in a preliminary injunction ruling invites much more scrutiny, and more room for the government to appeal the ruling to higher courts should they see fit. 

It’s a strategy both legal analysts and even Trump himself dangled as a likely possibility as they look to enforce some of their most sweeping policy actions. 

Trump suggested this week that Boasberg, tasked with overseeing the escalating deportation fight, be impeached, describing him in a post on Truth Social as a ‘crooked’ judge and someone who, unlike himself, was not elected president.

‘He didn’t WIN the popular VOTE (by a lot!), he didn’t WIN ALL SEVEN SWING STATES, he didn’t WIN 2,750 to 525 Counties, HE DIDN’T WIN ANYTHING!’ Trump said.

The post earned the rebuke of Chief Justice John Roberts, who noted that it broke with 200 years of established law. And on Thursday, Trump’s deputy chief of staff, James Blair, appeared to punt the issue to Congress.

He told Politico in an interview that Trump’s remarks were shining ‘a big old spotlight’ on what it views as a partisan decision, but noted impeaching a judge would be up to Republicans in Congress, including House Speaker Mike Johnson, who he said would ultimately ‘figure out what can be passed or not’ in Congress.

‘That’s the speaker’s job. And I won’t speak for what the speaker’s opinion of that is,’ he said. ‘I think the thing that is important right now is the president is highlighting a critical issue.’

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Vice President JD Vance took a shot at former Vice President Kamala Harris, suggesting her alcohol habits were responsible for her ‘word salads.’ 

Vance’s remarks came as he described the difference between how he and Harris have handled the role as vice president, and he speculated about the relationship dynamic between Harris and former President Joe Biden. 

‘Well, I don’t have four shots of vodka before every meeting,’ Vance said in an interview with radio host and Daily Caller editor Vince Coglianese in an interview that aired Thursday. ‘That’s one way I think that Kamala really tried to bring herself into the role, is these word salads. I think I would need the help of a lot of alcohol to answer a question the way that Kamala Harris answered questions.’ 

Vance then shared his suspicions that Harris and Biden didn’t have the same level of trust he and President Donald Trump share, noting his opinion was based on ‘guesswork’ since he doesn’t speak to either Biden or Harris frequently. 

‘My sense is that there wasn’t a level of trust between Biden and Harris,’ Vance said. ‘She was just less empowered to do her job. Luckily, I’m in a situation where the president trusts me, where if he asks me to do something, he believes it’s going to happen. … I feel empowered in a way that I think a lot of vice presidents haven’t been, but that’s all in the service of accomplishing the president’s vision.’ 

Harris routinely faced scrutiny for comments in which she jumbled words, including when she said, ‘I grew up understanding the children of the community are the children of the community’ in September 2024. 

Harris, who previously served as a senator from California, is now a speaker with CAA Speakers, which represents high-profile celebrities. CAA did not immediately respond to a request for comment from Fox News Digital. 

A spokesperson for Vance confirmed the vice president made the remarks on the podcast but did not provide additional comment to Fox News Digital. Coglianese did not immediately respond to a request for comment from Fox News Digital.

Meanwhile, Vance also poked fun at himself in the interview Thursday. 

Vance, who has become the source of thousands of memes circulating the internet after the heated Oval Office meeting between Trump and Ukrainian President Volodymyr Zelenskyy in February, said he finds the memes entertaining. 

In particular, he said he enjoys one based off Leonardo DiCaprio pointing at the television from the 2019 film ‘Once Upon a Time in Hollywood,’ and another swapping his face with members of the band Van Halen. 

‘I’m a personal fan of Vance Halen, but that’s because I really like the band Van Halen,’ Vance said. ‘So that’s just my personal preferences. I don’t know how it happened or where it came from, but it’s been very, very funny to watch your own face become this meme. It’s made the job a lot more fun, so I encourage people to keep doing it.’ 

Fox News Digital’s Alexander Hall contributed to this report.

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U.S. Defense Secretary Pete Hegseth said wasteful spending is over as he signed a memo to cancel over $580 million in Department of Defense (DoD) contracts.

‘We’re back with another quick update on our efforts to cut wasteful spending and cut it quickly at the Department of Defense,’ Hegseth announced in a post on X.

‘Today, I’m signing a memo directing the termination of over $580 million in DoD contracts, in grants that do not match the priorities of this president or this department. In other words, they are not a good use of taxpayer dollars.’

Hegseth said that they owe Americans transparency, sharing details on some of the contracts and grants that have been canceled.

‘There’s an HR software effort that was supposed to take a year and cost $36 million, but instead it’s taken eight years and is currently $280 million over budget, not delivering what it was supposed to. So that’s 780% over budget. We’re not doing that anymore,’ Hegseth vowed.

Hegseth added that they uncovered another batch of DoD grants, totaling $360 million worth, that decarbonizing emissions from Navy ships – part of the Obama-Biden Green agenda. 

‘That’s 6 million bucks, $5.2 million on something that would diversify and engage the Navy by engaging underrepresented Bipoc students and scholars. Another $9 million at a university to approach equitable AI and machine learning models. I need lethal machine learning model, not equitable machine learning models,’ Hegseth explained.

On this third point, Hegseth said Thursday’s other cuts included wasteful spending on external consulting services. 

’30 million bucks in contracts with Gartner and McKinsey. That’s IT purchasing unused licenses. So when you add it all up, $580 million in DoD contracts and grants DOGE is helping us cut today,’ Hegseth said.

When added up all together, Hegseth said that over $800 million in wasteful spending has been canceled over the first few weeks, as DoD partners with DOGE ‘to make sure that our warfighters have what they need by cutting the waste, fraud, and abuse.’

‘They’re working hard. We’re working hard with them. We appreciate the work that they’re doing, and we have a lot more coming. So stay tuned,’ Hegseth said. 

‘So, might as well not waste any more time right now, just sign this thing. How about that? So this makes it official. We’re going to keep going for you guys,’ Hegseth said while signing the orders. 

‘Have we ever seen this level of transparency? Amazing, thank you @SecDef,’ Rep. Nancy Mace, R-S.C., commented on Hegseth’s post.

Back in February, Hegseth committed to cooperating with DOGE to cut wasteful spending at the Department of Defense.

‘We will partner with them. It’s long overdue. The Defense Department’s got a huge budget, but it needs to be responsible,’ Hegseth previously told Fox News. 

As of Thursday afternoon, 239 ‘wasteful’ contracts with a ‘ceiling value’ of $1.7 billion have been terminated over a two-day period, DOGE announced. 

Fox News Digital’s Deirdre Heavey and Louis Casiano contributed to this report.

Stepheny Price is a writer for Fox News Digital and Fox Business. She covers topics including missing persons, homicides, national crime cases, illegal immigration, and more. Story tips and ideas can be sent to stepheny.price@fox.com

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Rep. Alexandria Ocasio-Cortez of New York and Sen. Bernie Sanders of Vermont – champions of the left – repeatedly targeted President Donald Trump and his billionaire ally Elon Musk as they kicked off a three-day swing through three electorally important western states.

But Sanders, and especially Ocasio-Cortez, also trained some of their fire on the Democratic Party, with the best-known member of the so-called ‘Squad’ of diverse and progressive House members urging her own party to have ‘the courage to brawl’ against Republicans.

Trump has been on a tear since returning to the White House two months ago, flexing his political muscles to expand presidential powers as he’s upended longstanding government policy and made major cuts to the federal workforce through a flurry of executive orders and actions. 

And Sanders and Cortez took to the stage at their first stop in Las Vegas, Nevada, while Trump signed an executive order to begin the longstanding conservative goal of demolishing the Department of Education at a White House ceremony.

Ocasio-Cortez accused Trump and his GOP allies of ‘lying to and screwing over working and middle-class Americans so that they can steal our health care, social security and veterans benefits in order to pay for their tax cuts for the billionaires and bailouts for their crypto friends.’

And Sanders charged that ‘every day Trump is trying to take power away from Congress. He is trying to take power away from the judiciary.’

‘We have a message for Mr. Trump and that is, we will not allow you to move this country into an oligarchy,’ Sanders emphasized.’We’re not going to allow you and your friend Mr. Musk and the other billionaires to wreak havoc on this country.’

But the inability of Democrats in Congress, who are out of power in the White House as well as the House and Senate, to stop the majority Republicans is causing tensions within the party amid increasing calls for leaders to come up with a stronger strategy to resist Trump.

‘This isn’t just about Republicans,’ Ocasio-Cortez told the crowd in Arizona. ‘We need a Democratic Party that fights harder for us. That means each and every one of us choosing and voting for Democrats and elected officials who know how to stand for the working class…I want you to look at every level of office around and support Democrats who fight, because those are the ones who can actually win against Republicans.’

The Sanders-Ocasio-Cortez stops are drawing large crowds. The fire marshal in Tempe, Arizona said 11,300 packed the Mullett Arena on the campus of Arizona State University, with thousands in an overflow section outside the arena. 

The tour, dubbed by Sanders as ‘Fighting Oligarchy,’ continues Friday in Denver and Greeley, Colorado and concludes Saturday with a rally in Tucson, Arizona.

It comes as Senate Minority Leader Chuck Schumer, the top Democrat in the chamber, is facing increasing fire from his own party for his support last week for a Republican-crafted federal funding bill that averted a government shutdown.

Neither Ocasio-Cortez nor Sanders mentioned Schumer during their speeches in Las Vegas or Tempe. 

And Sanders, an independent who has long caucused with the Democrats and who is part of Schumer’s leadership team in the Senate, declined in an interview with Fox News Digital ahead of the Tempe rally, to answer whether he agreed with calls for Schumer to step down from his leadership position.

‘That’s kind of inside the Beltway stuff,’ Sanders said.

But it was on the minds of some of those attending the rallies.

There were chants of ‘primary Chuck’ directed at Ocasio-Cortez at the Las Vegas rally.

And in Tempe, Cindy Garman and Pat Robinson, both of Prescott, Arizona, told Fox News that they were ‘really disappointed’ with Schumer’s move. 

And Amanda Ratloff of Gilbert, Arizona, said Schumer ‘is not the leader we need right now. We need somebody that will actually fight back and fight for the American people and not just give in to Elon Musk and Donald Trump.’

Sanders, in his speech, vowed to fight.

‘We are going to fight Trump and his oligarchy friends,’ he emphasized. ‘From the bottom of my heart I am convinced that they can be defeated.’

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Nvidia CEO Jensen Huang downplayed the negative impact from President Donald Trump’s tariffs, saying there won’t be any significant damage in the short run.

“We’ve got a lot of AI to build … AI is the foundation, the operating system of every industry going forward. … We are enthusiastic about building in America,” Huang said Wednesday in a CNBC “Squawk on the Street” interview. “Partners are working with us to bring manufacturing here. In the near term, the impact of tariffs won’t be meaningful.”

Trump has launched a new trade war by imposing tariffs against Washington’s three biggest trading partners, drawing immediate responses from Mexico, Canada and China. Recently, Trump said he would not change his mind about enacting sweeping “reciprocal tariffs” on other countries that put up trade barriers to U.S. goods. The White House said those tariffs are set to take effect April 2.

“We’re as enthusiastic about building in America as anybody,” Huang said. “We’ve been working with TSMC to get them ready for manufacturing chips here in the United States. We also have great partners like Foxconn and Wistron, who are working with us to bring manufacturing onshore, so long-term manufacturing onshore is going to be something very, very possible to do, and we’ll do it.”

Shares of Nvidia have fallen more than 20% from their record high reached in January. The stock suffered a massive sell-off earlier this year due to concerns sparked by Chinese artificial intelligence lab DeepSeek that companies could potentially get greater performance in AI on far-lower infrastructure costs. Huang has pushed back on that theory, saying DeepSeek popularized reasoning models that will need more chips.

Nvidia, which designs and manufactures graphics processing units that are essential to the AI boom, has been restricted from doing business in China due to export controls that were increased at the end of the Biden administration.

Huang previously said the company’s percentage of revenue in China has fallen by about half due to the export restrictions, adding that there are other competitive pressures in the country, including from Huawei.

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Darden Restaurants on Thursday reported weaker-than-expected sales as Olive Garden and LongHorn Steakhouse underperformed analysts’ projections.

Shares of the company were up in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

Darden reported fiscal third-quarter net income of $323.4 million, or $2.74 per share, up from $312.9 million, or $2.60 per share, a year earlier.

Excluding costs related to its acquisition of Chuy’s, Darden earned $2.80 per share.

Net sales rose 6.2% to $3.16 billion, fueled largely by the addition of Chuy’s restaurants to its portfolio.

Darden’s same-store sales rose 0.7%, less than the 1.7% increase expected by analysts, according to StreetAccount estimates.

Both Olive Garden and LongHorn Steakhouse, which are typically the two standouts of Darden’s portfolio, reported underwhelming same-store sales growth. Olive Garden’s same-store sales rose 0.6%. Analysts were anticipating same-store sales growth of 1.5%. And LongHorn’s same-store sales increased 2.6%, missing analysts’ expectations of 5% growth.

Darden’s fine dining segment, which includes The Capital Grille and Ruth’s Chris Steak House, reported same-store sales declines of 0.8%.

The last segment of Darden’s business, which includes Cheddar’s Scratch Kitchen and Yard House, saw same-store sales shrink 0.4% in the quarter.

For the full year, Darden reiterated its forecast for revenue of $12.1 billion. It narrowed its outlook for adjusted earnings from continuing operations to a range of $9.45 to $9.52 per share. Its prior forecast was $9.40 to $9.60 per share.

Darden’s fiscal 2025 outlook includes Chuy’s results, but the Tex-Mex chain won’t be included in its same-store sales metrics until the fiscal fourth quarter in 2026.

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