Newscasts - Tech Weekly: Australia's social media ban, SpaceX aims to soar with IPO

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16/12/2025 12:33

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Source: 'Reuters - Business videos'

Description: From Australia's social media ban to a potential SpaceX IPO, we round up the week's hottest stories in tech. Francis Maguire reports. 

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Video Transcript:

From Australia's social media ban to a potential SpaceX IPO, this is Tech Weekly. Australia became the first country to ban social media for children under 16. 10 of the largest platforms, including TikTok and Meta's Instagram, were ordered to block children or face fines of up to $33 million. The move was welcomed by many parents and child advocates who want to protect children from issues including bullying, body image problems, and addictive algorithms. But tech companies have pushed back with message board site Reddit filing a lawsuit to overturn the ban on free speech concerns. SpaceX wants to soar towards an initial public offering next June or July. That's what a source told Reuters, and they added Elon Musk's firm wants to raise $25 billion through the IPO. They said the Starlink maker aims for a valuation of more than $1 trillion and that SpaceX has already begun talks with banks about it. iRobot filed for bankruptcy protection. The Roomba vacuum maker also announced it will be taken over by its Chinese manufacturer, Picea Robotics, in a deal that wipes out shareholders. The company has faced growing competition from lower-priced rivals and new US tariffs. And while it saw $682 million in revenue last year, profits were squeezed by rivals like China's Ecovacs Robotics. French video game "Clair Obscur: Expedition 33" swept the board at the Game Awards. It won Game of the Year and took prizes in eight other categories. Clair Obscur has sold millions of copies and had rave reviews since it came out in April. The game is set in an alternate reality where a task force goes on a mission to defeat a supernatural being who paints locals out of existence once they reach a certain age. And NVIDIA is looking into adding production capacity for its powerful H200 AI chips. Sources said that's what the US tech giant told Chinese clients after orders beat its current output level. President Donald Trump previously said the US government would allow NVIDIA to export H200 processors to China, although it will collect a 25% fee on those sales. The H200 is NVIDIA's second fastest AI chip and the most powerful Chinese companies can currently access.