Elon Musk's SpaceX set to testify at NYC Council hearing on AI safety after getting subpoena

Impact · against what's priced in

The NYC Council's subpoena of SpaceX is a marginal negative for the AI sector but does not shift the fundamental valuation drivers for Google and Meta. These companies have already participating in the safety hearings, and the market has already baked in significant legal and regulatory risks for both.

META−0.05

Already priced in

The price assumes

A $10 billion to $16.68 billion legal accrual and settlement