Musk on Ketamine, costly hydrogen transition, NVIDIA to work with BYD, Exxon to buy Hess (Guyana) only, and Boral to refuse Seven offers

In a recent video, Musk advocates for his use of ketamine, asserting it has positive effects for investors.

• In an online video interview with former CNN anchor Don Lemon, CEO Elon Musk stated that his ketamine prescription has been advantageous for Tesla's (TSLA.O) investors.

• In the interview conducted this month, Musk stated that the drug assists him in managing a "negative chemical state" akin to depression. The conversation also covered topics such as politics, content moderation on X, and Tesla.

• From Wall Street's perspective, execution is what counts," stated Musk, who oversees the car manufacturer, the aerospace firm SpaceX, and the social media entity X. Musk contended that Tesla's valuation equals the combined worth of the entire automobile industry.

The adoption of hydrogen will incur a cost exceeding $1 trillion for Europe and the US.

• To facilitate the widespread adoption of hydrogen fuel, Europe and the U.S. will need to invest more than $1 trillion in building the necessary infrastructure, according to a Mitsubishi Heavy Industries executive."

• A comprehensive shift to hydrogen as a fuel source necessitates the creation of substantial new demand. This can only be achieved through investments in infrastructure aimed at lowering costs. To facilitate this transition, significant financial input from European and U.S. governments is essential, as stated by Emmanouil Kakaras, Executive Vice President at Mitsubishi, during an interview at the CERAWeek by S&P Global energy conference.

• European governments have pledged $750 billion, and together with funding from the U.S. Inflation Reduction Act for hydrogen projects, this could be sufficient to facilitate the transition from fossil fuels to clean fuels, according to him.

Nvidia strengthens partnerships with Chinese electric vehicle manufacturers amid intensifying competition in automotive AI.

• Nvidia (NVDA.O) announced on Monday an expansion of its collaborations with BYD (002594.SZ) and other Chinese automotive manufacturers. These partnerships are aimed at developing self-driving vehicles and AI-enhanced infotainment technologies to compete in the global market."

• BYD, which surpassed Tesla (TSLA.O) last year as the world's leading electric vehicle manufacturer, will utilize Nvidia's latest in-vehicle chips, named Drive Thor, to enhance autonomous driving capabilities and other digital functions, according to Nvidia.

• BYD will utilize Nvidia's technology to enhance the efficiency of its factories and supply chain, as well as to create virtual showrooms, according to Nvidia's Vice President for Automotive, Danny Shapiro, who spoke during a conference call.

The CEO of Exxon has stated that while they are not attempting to purchase Hess, they are interested in its stake in Guyana.

• Darren Woods, CEO of Exxon Mobil, stated on Monday that the company is seeking to affirm its rights to Hess Corp's assets in Guyana amid a dispute with Chevron, rather than attempting to acquire the company itself.

• In his inaugural public statement regarding the company's initiation of an arbitration case, which might impede Chevron's acquisition of Hess valued at $53 billion, Woods articulated that Exxon would have proceeded with the purchase of Hess without awaiting Chevron's announcement of its deal if that had been their intention.

Boral of Australia is urging its shareholders to reject the $1.3 billion offer from Seven Group.

• On Tuesday, Boral, an Australian company, advised its shareholders to decline the A$1.9 billion ($1.25 billion) acquisition proposal from its principal investor, Seven Group Holdings, asserting that the offer does not reflect the true value of the construction materials group.

• The Seven Group, under the control of billionaire Kerry Stokes and his family, currently holds approximately 72% ownership of Boral. Last month, they initiated an offer to take complete ownership of the company.

• Grant Samuel, an independent expert firm, has assessed the fair value of Boral to be in the range of A$6.50 to A$7.13 per share, according to the company.