00:00 Speaker A
First up, Rocket Lab rising after being selected by the US Space Force to compete for the Department of Defense’s high priority National Security Missions for its National Security Space launch program. Rocket Lab is one of five launch providers selected, and the contract has a five-year ordering period that will run through June of 2029 with a maximum value of $5.6 billion. City says the selection is a positive for Rocket Lab stock, saying the Space Force could become an important customer for the company. Shares higher.
00:44 Speaker B
Plus Ubisoft announcing the creation of a new subsidiary that will handle three of its popular video games, Assassin’s Creed, Far Cry, and Tom Clancy’s Rainbow Six. The unit will have an enterprise value of $4.3 billion. Tencent set to invest around $1.25 billion, giving it a minority stake in the business. The new subsidiary will hold the licenses for the IP of the games in exchange for a royalty. The deal is a vote of confidence from Tencent after a few difficult years after the pandemic era lockdowns eased. The deal’s also expected to be closed by the end of 2025.
01:34 Speaker A
Finally, Nippon Steel is reportedly considering investing $7 billion to upgrade US Steel Corp facilities if it wins approval for its planned $14 billion takeover. That is much more than the nearly $2.7 billion it previously offered. For Semaphore, they in this report say that the increased investment comes as Nippon Steel and US Steel hold talks with the Trump administration to salvage the deal. President Trump initially opposed the sale of US Steel, but in February he said he was open to a strategic investment from Nippon Steel.
