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In this photo illustration, a Grand Theft Auto VI logo seen...
(Mateusz Slodkowski/Getty Images)
Great Expectations

“GTA 6” has to follow one of the bestselling video games of all time

The predecessor of “GTA 6” was just behind “Tetris” and “Minecraft” in all-time sales.

Claire Yubin Oh

Amid a postpandemic hangover for the wider industry, video game makers are taking a leaf out of Hollywood’s playbook, hoping that sequels and reboots can propel the industry back to growth.

Strategy heavy “Civilization VII” is out officially tomorrow, Medieval favorite “Kingdom Come: Deliverance II” hit the (mostly digital) shelves a week ago, and the OG “The Sims” will be rereleased in celebration of the franchise’s 25th anniversary.

But none of those high-profile games carry the weight of expectation that “Grand Theft Auto 6” will shoulder when it debuts this fall. Even just the confirmation that the game will come out this year was enough for the share price of owner Take-Two Interactive to soar last week.

Predicted to make $3.2 billion in sales in its first 12 months, the latest of the GTA series will easily be the biggest debut of the year, following after its predecessor, which sold 210 million copies, ranking as the third-most-sold video game of all time according to data compiled by GameSpot

Top 10 games sold ever
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Given how much the industry has moved on since GTA 5, breaking into this top 10 and unseating classics like the “Super Mario” series from Nintendo — games that were often bundled with the company’s popular hardware products — will be a monumental task. Indeed, as the supply of video games has exploded, even megahits like Microsoft’s open-world game “Minecraft” have topped out at roughly 300 million sales, which is why iconic block-sorting game Tetris is likely to top this list for decades.

Consoling

Gaming companies have been reporting lackluster earnings in February: a disappointing outlook from Roblox pushed its shares down on Thursday, Electronic Arts’ “EA Sports FC 25” is underwhelming gamers, and Nintendo’s Switch sales are slipping, too.

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How Tesla quietly wound up owning a small piece of SpaceX

Tesla is converting its recent $2 billion investment in Elon Musk’s AI company, xAI, into a small ownership stake in SpaceX — just months before the rocket maker’s highly anticipated IPO.

Here’s what happened: Tesla announced its xAI investment in late January, after a shareholder proposal to invest fell short last year. Several days later, xAI merged with SpaceX. All three companies are headed by Musk.

Now, regulatory filings with the Federal Trade Commission show Tesla converting that investment into a small stake in SpaceX, formalizing the financial link between the companies ahead of the rocket maker’s IPO. SpaceX is expected to go public this year at a valuation some speculate could top $1.75 trillion, potentially making it the biggest company to ever go public. (The current record holder, Saudi Aramco, went public at a more than $1.7 trillion valuation in 2020.)

While the size of Tesla’s stake wasn’t available, Bloomberg reports that the investment would equate to ownership of less than 1%.

While SpaceX and Tesla have engaged in related-party transactions over the years, Tesla had not previously disclosed an equity investment in SpaceX.

Now, regulatory filings with the Federal Trade Commission show Tesla converting that investment into a small stake in SpaceX, formalizing the financial link between the companies ahead of the rocket maker’s IPO. SpaceX is expected to go public this year at a valuation some speculate could top $1.75 trillion, potentially making it the biggest company to ever go public. (The current record holder, Saudi Aramco, went public at a more than $1.7 trillion valuation in 2020.)

While the size of Tesla’s stake wasn’t available, Bloomberg reports that the investment would equate to ownership of less than 1%.

While SpaceX and Tesla have engaged in related-party transactions over the years, Tesla had not previously disclosed an equity investment in SpaceX.

Southwest Airlines At San Diego International Airport

Southwest stopped fuel hedging a year ago. Whoops.

It’s been a year since Southwest said it would end its fuel-hedging program. Oil’s moves this year make that decision look like a mistake.

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