Sponsored by Silver47 Exploration

Startup Challenges X for ‘Twitter’ Name

SpaceX is reportedly pursuing an IPO in 2026, targeting proceeds of more than $25 billion and a valuation above $1 trillion, according to a source cited by Reuters.

The same source said SpaceX has started discussions with banks and the listing could land around June or July 2026.

Use-of-proceeds is unusually specific for an IPO rumor cycle: Reuters reported SpaceX expects to direct IPO funds toward building space-based data centers, including buying the chips required to run them, an idea Musk discussed at a recent Baron Capital event per Bloomberg reporting.

You can read more on the matter here.

What’s going on?

• Quebec Targets To Cut Environmental Review Timeline By Half (theDeepDive)

• Home prices go negative for the first time in over 2 years — and may stay that way for a while (CNBC)

• Trump Wants Immunity for War Crimes (theDeepDive)

• Canada has legal duty to provide safe water, housing to remote First Nations, federal judge rules (CBC)

• OpenAI Hires Slack CEO Denise Dresser as First Chief Revenue Officer (theDeepDive)

• Canadian securities regulators deploy technology to take down investment scam websites (Globe)

• Hoekstra: Canada Oil Deal Will Boost Exports South (theDeepDive)

• US trade deficit shrinks to smallest since 2020 as gold exports jump (FT)

• US Army Plans Fleet of Small-Scale Refineries for Critical Minerals (theDeepDive)

• U.S. issues fresh Venezuela-related sanctions (Reuters)

What’s the latest?

• Real Estate: Canada’s new housing report grades provinces on 36 indicators, with New Brunswick and P.E.I. scoring A-, while Ontario ranks last with a D, followed by B.C. (C-) and Quebec (C+). Ontario performs worst due to 25-month municipal approvals, very high development charges, and weak affordability and household formation outcomes. B.C. leads in pro-supply policies but gets an F in affordability; Alberta ranks #1 in supply outcomes, while Newfoundland and Labrador leads in affordability and societal outcomes. The study concludes that large provinces are not keeping pace, and high development charges in Ontario and B.C. are major contributors to the housing crisis.

• Trans Mountain: Canada Energy Regulator fined Trans Mountain $196,000 — its largest cumulative penalty to date — for environmental lapses during the January 2024 Fraser Valley storm. The company failed to deploy enough erosion-control staff, sent all crews to one weld-repair site, and left 25 pump locations inactive, leading to landslide and sediment risks near Abbotsford and Chilliwack. Although actual damage was low, the probability of harm was deemed high, including risks to farms, highways, streams, and groundwater. The fine was reduced from an initial $292,000, and follows previous penalties in 2022 as the $34-billion pipeline project continues to face scrutiny.

• Economy: Canada posted a $153M trade surplus in September, ending seven straight months of deficits and marking its first surplus since Trump-era tariffs began hitting exports. Exports jumped 6.3% to $64.23B, driven by 20%+ gains in metals, minerals, aircraft and transport equipment. The U.S. surplus rose 44%, with exports to the U.S. up 4.6% and imports down 1.7%. Imports overall fell 4.1%, while exports to non-U.S. markets surged 11%, helping narrow Canada’s global trade deficit to its lowest level in a year.

• AI: OpenAI released GPT-5.2, calling it its most advanced model for professional use, with major improvements in spreadsheets, presentations, coding, image perception, and long-context reasoning. The model launches in Instant, Thinking, and Pro versions and is available in ChatGPT and the API starting today. GPT-5.2 tops industry benchmarks including SWE-Bench Pro and GPQA Diamond, scoring 70.9% on OpenAI’s GDPval test. The announcement follows the company’s recent “code red” response to competition, with CEO Sam Altman saying the company expects to exit code red by January.

• Tech: Disney will invest $1B into OpenAI and sign a three-year licensing deal allowing Sora users to create videos with 200+ Disney, Marvel, Pixar and Star Wars characters starting in 2026. Disney will also receive equity warrants, deploy ChatGPT to employees, and build new AI tools with OpenAI tech. The agreement excludes talent likeness/voices but includes IP access for Sora and ChatGPT Images. This comes as Disney simultaneously pursues legal action against Google and other AI firms for unauthorized use of its copyrighted content.

The Big Reset: $5,000 Gold Is Just the Start

The stock market and stuff

• Capital Power Secures 250MW Data Center Deal Following Ottawa-Alberta Energy Agreement (theDeepDive)

• Disney to invest $1bn in OpenAI (FT)

• Oracle Slides on AI Spending Worries; Nasdaq Drops (WSJ)

• Shareholders Overwhelmingly Approve Anglo Teck Merger (theDeepDive)

In the juniors

• Acquitted on Thursday, Arrested on Wednesday: Aznalcóllar Figure Back in Handcuffs Less Than a Week After Walking Free (theDeepDive)

• New Found Gold Drills 22.4 g/t Gold Over 4.75 Metres At Monte Carlo Zone (theDeepDive)

• McFarlane Lake Plans 13,000 Metre Drill Program At Juby (theDeepDive)

• Heliostar Outlines US$972 Million NPV For Cerro del Gallo At $3,900 Gold (theDeepDive)

FULL DISCLOSURE: Silver47 Exploration is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Silver47 Exploration. The author has been compensated to cover Silver47 Exploration on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.