Musk’s SpaceX’s Surprise New Investor? Italy’s Biggest Bank

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Italy’s Intesa Sanpaolo SpA has made a surprise investment in Elon Musk’s Space Exploration Technologies Corp. as the lender looks to the aerospace industry as a key driver of global growth.

Innovation will be a key pillar of the 2022-2025 business plan, Italy’s largest domestic bank said in a Friday statement, without disclosing the scale of the new investment.

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