News & Updates
The latest news and updates from companies in the WLTH portfolio.
Traders cool on Tesla-SpaceX merger as Polymarket odds slide
Traders on Polymarket have sharply scaled back bets that a Tesla-SpaceX merger will be announced this year, even as Wall Street analysts insist a tie-up is only a matter of time. The prediction market now puts just an 11% chance on an official announcement by 30 September, down 28 percentage points, while the odds of a deal being unveiled by 31 December have fallen 19 points to 24%. More than $836,000 has been wagered across the market, which resolves yes if either company announces it is being acquired by or merged with the other, regardless of whether the deal completes. The retreat contrasts with bullish calls from analysts, with Wedbush's Dan Ives putting the odds of a Tesla-SpaceX tie-up at about 80% and arguing the connective tissue between the companies is already forming. Speculation intensified after SpaceX's $85.7 billion initial public offering, which created a company now valued at around $2.44 trillion with $100.8 billion in cash. SpaceX president Gwynne Shotwell declined to dismiss the idea when asked directly in June, suggesting a tie-up might make Elon Musk's life a little easier. Musk has exercised 304 million Tesla options, lifting his voting stake to 19.9% as he targets the 25% control he says is needed to advance the carmaker's AI ambitions. The two companies already share extensive commercial ties, including joint ownership of the Terafab chip facility, and SpaceX bought $697 million of Tesla's Megapack battery systems in 2024 and 2025. Musk has form for consolidation, having folded social media platform X into xAI in 2025 before SpaceX acquired xAI in an all-stock deal this year. Musk himself has acknowledged the complexity, telling analysts that any deal would have to make sure Tesla shareholders are served and SpaceX shareholders are served.
Traders cool on Tesla-SpaceX merger as Polymarket odds slide
Traders on Polymarket have sharply scaled back bets that a Tesla-SpaceX merger will be announced this year, even as Wall Street analysts insist a tie-up is only a matter of time. The prediction market now puts just an 11% chance on an official announcement by 30 September, down 28 percentage points, while the odds of a deal being unveiled by 31 December have fallen 19 points to 24%. More than $836,000 has been wagered across the market, which resolves yes if either company announces it is being acquired by or merged with the other, regardless of whether the deal completes. The retreat contrasts with bullish calls from analysts, with Wedbush's Dan Ives putting the odds of a Tesla-SpaceX tie-up at about 80% and arguing the connective tissue between the companies is already forming. Speculation intensified after SpaceX's $85.7 billion initial public offering, which created a company now valued at around $2.44 trillion with $100.8 billion in cash. SpaceX president Gwynne Shotwell declined to dismiss the idea when asked directly in June, suggesting a tie-up might make Elon Musk's life a little easier. Musk has exercised 304 million Tesla options, lifting his voting stake to 19.9% as he targets the 25% control he says is needed to advance the carmaker's AI ambitions. The two companies already share extensive commercial ties, including joint ownership of the Terafab chip facility, and SpaceX bought $697 million of Tesla's Megapack battery systems in 2024 and 2025. Musk has form for consolidation, having folded social media platform X into xAI in 2025 before SpaceX acquired xAI in an all-stock deal this year. Musk himself has acknowledged the complexity, telling analysts that any deal would have to make sure Tesla shareholders are served and SpaceX shareholders are served.
Victor Peng Named PsiQuantum CEO in Series of Appointments
* PsiQuantum has promoted Victor Peng to permanent CEO * Technology executives Rob Soderbery and Sriram Sitaraman have joined the leadership team * New hires will advance silicon photonics and IT strategy PsiQuantum has appointed Victor Peng, most recently interim chief executive officer, as permanent CEO as part of a series of executive leadership appointments. Veteran technology leaders Rob Soderbery and Sriram Sitaraman have joined PsiQuantum as executive vice president and chief information officer, respectively, the company said Thursday. "Building the world's first utility-scale quantum computers is one of the most ambitious engineering challenges ever undertaken, and the opportunities enabled by our silicon photonics platform extend well beyond quantum computing," Peng said. "Realizing that potential requires exceptional leadership, operational excellence, and the ability to build technologies, teams, and infrastructure at global scale. Rob and Sriram are outstanding leaders who will help accelerate our momentum as we build the company and platform that will shape the future of computing," he added. Who Is Victor Peng? Peng is CEO of PsiQuantum. He joined the company in February as interim chief executive. Peng brings more than four decades of industry experience spanning graphics processing units, central processing units, field-programmable gate arrays and system-level architectures. He previously led AMD's embedded and data center GPU businesses and was responsible for the company's advanced research and artificial intelligence strategy. He also served as CEO of Xilinx, which was acquired by AMD in 2022. He held executive and engineering leadership positions at MIPS Technologies, SGI and Digital Equipment Corp. Peng serves on the boards of KLA and Microchip Technologies. Who Is Rob Soderbery? Soderbery is a technology executive who serves as EVP at PsiQuantum, where he will advance the company's silicon photonics platform and its application across AI networking and next-generation computing infrastructure. He brings more than 30 years of experience building and scaling computing and infrastructure technologies to the role. He most recently served as EVP and general manager of flash business at Western Digital, leading the company's SanDisk business. He previously worked at Cisco, where he served as senior VP and GM of enterprise products spanning routing, switching, enterprise networking, cloud and wireless. He also held senior leadership roles at UpLift, Symantec and Veritas. Who Is Sriram Sitaraman? Sitaraman is a technology executive who serves as CIO at PsiQuantum, where he will lead the company's global IT strategy with oversight of IT security, enterprise systems, engineering infrastructure, AI enablement and digital transformation efforts. He most recently served as SVP and CIO at Synopsys, where he built and scaled a large-scale engineering compute environment supporting simulation, electronic design automation, and cloud and AI workloads. He also led transformation efforts across engineering infrastructure, enterprise systems, cybersecurity and cloud platforms. What Is PsiQuantum? PsiQuantum is a Palo Alto, California-based company focused on building and deploying quantum computers. Founded in 2016, the company's photonic approach leverages high-volume semiconductor manufacturing, architectural flexibility and cryogenic infrastructure to scale its systems. In May, the Department of Commerce selected PsiQuantum and eight other companies to receive over $2 billion in federal incentives under the CHIPS and Science Act to accelerate U.S. quantum computing development. The latest appointments came two months after Intel CEO Lip-Bu Tan joined its board of directors.
Dear SpaceX Stock Fans, Mark Your Calendars for July 16
SpaceX Corporation (SPCX) investors have a major date circled on the calendar right now. On July 16, the company is scheduled to launch Starship Flight 13, a mission that could become the stock's biggest catalyst since its blockbuster IPO just over a month ago. The launch isn't just another test. For the first time, Starship will attempt to deploy 20 commercial Starlink V3 satellites, marking an important step toward regular commercial operations. A successful mission could help restore investor confidence after weeks of heavy selling, while another setback may add to the pressure on shares. More News from Barchart SpaceX stock has been extremely volatile since going public. Shares debuted at $150 after pricing at $135 in June, surged above $225 during the first week, and have since retreated 29.5%, sinking to its lowest price today since its IPO Debut. This is happening as investors shift their focus from IPO excitement to the company's steep losses, aggressive spending, and premium valuation. The stock currently trades at roughly 110 times expected trailing 2025 revenue of $18.7 billion, far above the aerospace and defense industry's average of 2.5 times to 3 times sales. Even after losing hundreds of billions of dollars in market value, investors are still paying a premium for the company's long-term growth story rather than its current financial performance. Starship Flight 13 Could Be a Defining Moment The July 16 mission is particularly important because it represents the second test of the new Starship V3 design after the first V3 launch ended with an explosion following splashdown in May. SpaceX says Flight 13 includes software upgrades designed to address issues from the previous mission. Beyond testing the vehicle itself, the company will deploy 20 next-generation Starlink satellites, including six equipped with cameras to monitor the spacecraft's heat shield during reentry. If the mission succeeds, investors may gain confidence that Starship is moving closer to commercial service, unlocking new revenue opportunities across satellite deployment, lunar missions, and eventually Mars exploration. Another failure, however, could reinforce concerns about execution risks at a time when investor sentiment is already fragile.
SpaceX stock falls below IPO price, testing investor confidence after blockbuster debut
SpaceX's slip below its initial public offering price risks turning a marquee stock-market debut into a confidence test, potentially unsettling retail investors and complicating decisions for other companies weighing high-profile listings. Elon Musk's company, spanning rockets to AI, debuted on June 12 and soared in the ensuing days, at one point valuing the company at well above $2 trillion. Since its debut, trading has been rocky. The stock slipped below its $150 opening price in late June with concerns about lofty tech stock valuations weighing on global indexes. The stock slid below its $135 IPO price for the first time on Wednesday, touching an intraday low of $132.15 before recovering to trade down 0.6% at $135.27 -- just over a month after the record-breaking IPO made Musk the world's first trillionaire. SpaceX shares started trading as part of the Nasdaq 100 index about a week ago. A break below the IPO price is a psychological blow for SpaceX shares, said Matthew Maley, chief market strategist at Miller Tabak. "It raises the narrative that the stock is up on fluff, on speculation, on froth, and not on real fundamentals," Maley said. Investors who bought into the excitement around SpaceX's listing, "hoping to 'make a killing' will be disappointed," said Greg Halter, director of research at Carnegie Investment Counsel. He said weakness in SpaceX would put it more in line with 30 years of heavily hyped IPOs, where average and median returns over the first month are often negative. SpaceX did not respond to a request for comment. PRICE DISCOVERY NOT PANIC? A drop below the IPO price is not unusual for a newly listed company. Shares of Cerebras Systems, which went public in May, have dropped below the IPO price, and Meta, formerly known as Facebook, fell similarly after its debut. Investors often fixate on IPO prices and early trading, said Ryan Lee, senior vice president of product and strategy at financial services firm Direxion. "The reality is, (SpaceX) is still undergoing some of this price discovery process," Lee said. A fall for SpaceX below $135 reflects "normal, albeit painful" market mechanics, especially as investors, venture capitalists and employees sell shares after lockups expire, said Gabriel Shahin, CEO at Falcon Wealth Planning. "A near-term dip below the $135 threshold would not fundamentally alter our current positioning or cause us to panic-sell," he said. CAUTION OR GREEN LIGHT FOR NEXT IPOS Some investors think SpaceX's stock performance could influence the market for future public listings. OpenAI and Anthropic are eyeing the public markets. Neither company responded to a request for comment. Carnegie's Halter said companies and investment banks considering large IPOs this year are watching SpaceX closely. "No one wants an IPO to flop or have the initial price be ratcheted down," Halter said. He suspects some IPOs would be pulled rather than priced at lower valuations. But Direxion's Lee said SpaceX's capital raise could encourage some companies with large funding needs to move faster. "If I'm OpenAI or if I'm Anthropic and I'm in this true arms race to build the frontier AI model and I need capital, I'm going to try to beat the other one out the door," Lee said. RISKING RETAIL TRADERS' SKEPTICISM A drop below the IPO price could hit retail investors, who received about 20% of the allocation, hard. "Many novice investors have approached SpaceX with a 'meme stock' mentality, buying in with capital they cannot afford to lose," Shahin said, warning that losses could fuel perceptions that markets favor insiders. "The market needs to understand that post-IPO volatility is normal." SpaceX's first earnings report will be a major test for the stock. Underwriters typically support stocks in the first 30 days and may do more for SpaceX given the deal's size, the public attention and the fact other high-profile offerings are imminent, said Maria Llerena, director of financial research at Domini Impact Investments. "Loss-making companies without a clear path to profitability are typically volatile and can fall below their IPO price," said Llerena. Published on July 16, 2026
Microsoft Reshapes Cybersecurity Unit to Battle Anthropic and OpenAI | PYMNTS.com
The company is making these changes to better respond to customer demand for solutions to the threat of AI-powered hacks, and to capture some of the spending that is going to AI firms Anthropic and OpenAI, according to the report. Reached by PYMNTS, Microsoft declined to comment on the report. According to The Information's report, the overhaul is being led by Hayete Gallot, who took over the security business in February. Gallot is prioritizing AI-powered tools such as Microsoft Security Copilot, products that scan code for vulnerabilities and products that help companies monitor their own AI agents. "The entire industry is getting reimagined from the ground up," Gallot wrote in an internal Microsoft memo, per the report. "And it will reward the companies that see the shift early, make the hard choices, and execute with discipline. A few months ago, we made those choices. Now we must execute." Microsoft Chairman and CEO Satya Nadella wrote in a Feb. 4 blog post that Gallot rejoined Microsoft as executive vice president, security, and would report to him. Gallot had held senior leadership roles at the company for 15 years before moving to Google, where she served as president, customer experience for Google Cloud. "She brings an ethos that combines product building with value realization for customers, which is critical right now," Nadella said in the post. "As we shared during our quarterly earnings last week, we have great momentum in security, including progress with Security Copilot agents, strong Purview adoption, and continued customer growth, and we will build on this." It was reported Wednesday that Microsoft is intensifying its competitive strategy against OpenAI and Anthropic by positioning its services as a more secure and cost-effective end-to-end alternative for corporate clients. The PYMNTS Intelligence report "Where Payments Decisions Happen: How Issuer Data Is Powering the Next Era of Commerce" found that 42% of issuers said AI has helped them save more than $5 million from fraud attempts in recent years.
xAI sues Grok user over AI-generated explicit imagery of minors - Cryptopolitan
he outcome could set a template for how the industry handles users who weaponize generative tools. Elon Musk's xAI has taken a South Carolina man to federal court in Texas, accusing him of using the Grok chatbot to create sexually explicit deepfakes of minors, marking the very first time an AI company will sue one of its own users over content generated using its platform. The defendant, Terry Harwood, was arrested in February on separate charges of sexually exploiting minors, according to Reuters. xAI's civil complaint was filed on Tuesday April 14, and will now be alongside whatever criminal case develops from that arrest. xAI's lawsuit The filing says that he opened several accounts under fake identities, and then fed the AI tool regular photographs of both adults and children before writing prompts meant to turn those images into sexual content. According to Al Jazeera, the subjects used in these acts had not consented and did not know their pictures were being used. xAI claims the system pushed back against the act. Grok refused the requests, flagging them as violations of its content rules. Harwood's response, according to the complaint, was to keep rewriting the prompts and trying again. "Defendant's actions were a calculated scheme to weaponize Plaintiff's tool for criminal ends, exposing real victims to profound and lasting harm," xAI wrote in the lawsuit, quoted by Reuters. The company also alleges he produced non-consensual sexual images of adults. The AI company requested two things from the court in the lawsuit filing. These include monetary damages with no particular figure attached, and an order that bars Harwood from ever using the Grok product again. xAI also used the filing to state the scale of its enforcement work against bad actors. The company said it suspended 52,222 accounts this year and sent 73,604 reports to the National Center for Missing & Exploited Children, referrals that led to at least 244 arrests in 2026. Grok remains under wider scrutiny xAI had already been under pressure over what Grok can produce before this case came up. Regulators in Europe have scrutinized the AI tool, while lawmakers in Washington have raised multiple concerns. Both Malaysia and Indonesia have banned the chatbot due to sexually explicit output, Al Jazeera reported. Elon Musk himself denied the underlying problem earlier this year. "I [am] not aware of any naked underage images generated by Grok. Literally zero," he wrote on X in January. I not aware of any naked underage images generated by Grok. Literally zero. Obviously, Grok does not spontaneously generate images, it does so only according to user requests. When asked to generate images, it will refuse to produce anything illegal, as the operating principle... https://t.co/YBoqo7ZmEj -- Elon Musk (@elonmusk) January 14, 2026 A recently created legal pathway called the DEFIANCE Act has also led to an increase in these such cases. The act, signed in 2024, gives victims of non-consensual intimate deepfakes a way to sue, and several states have passed individual laws to this effect.
Aramco awards Halliburton unconventional gas development contract
Saudi Aramco awarded New York-listed Halliburton a multi-year contract to deliver integrated stimulation and completion services for unconventional gas development in the Kingdom of Saudi Arabia. In a statement, Halliburton said this award is part of a broader multi-billion contract, supporting one of the largest unconventional gas development programs globally. This award builds on Halliburton's established portfolio supporting Aramco's unconventional program. Under the program, Halliburton will deploy intelligent automation solutions for fracturing to optimize performance in real time and support disciplined implementation across multi-well campaigns. These technologies support digital integration across operations while advancing efficiency and operational reliability. Development activities in the Jafurah Basin are underway. Halliburton also plans to increase its investment in local manufacturing, improve its supply chain, and expand workforce development programs within the Kingdom, aiming to scale operations and sustain high performance as unconventional activity accelerates.
Dow Jones Top Company Headlines at 9 PM ET: United Airlines Lifts Outlook as Higher Fares Blunt Turbulent Fuel Prices | SpaceX ...
United Airlines Lifts Outlook as Higher Fares Blunt Turbulent Fuel Prices The carrier said that adjusted earnings should hit $9 to $11 a share in 2026, lifting the low-end of its previous target by $2 a share. ---- SpaceX Shares Fall Below IPO Price for the First Time The rocket maker's stock slipped below $135 as the tech-heavy Nasdaq composite dropped. ---- BHP Annual Copper Production Falls; Iron Ore Output Notches Record High BHP Group said it produced a record amount of iron ore but less copper over the past year, and forecast a further drop in copper output in the year ahead as grades fall at a giant mine in northern Chile. ---- QVC Defeats Shareholder Challenge to $5 Billion Debt-Cutting Plan A Houston bankruptcy judge approved a disputed intercompany settlement that clears the retail network to exit chapter 11. ---- J.B. Hunt Reports Higher Profit As Revenue Grows Across Most Segments The logistics company reported a profit of $181 million, with its largest business segment reporting a 22% increase in revenue and a 10% increase in volume. ---- Conagra's 'Show-Me' CEO Says Every Product Needs to Earn Its Keep John Brase, who took over the company in June, is plotting a turnaround for the food giant. ---- Mira Murati's AI Startup Releases First Model in Bid to Loosen AI Giants' Grip Thinking Machines Lab CEO Mira Murati is betting on more customizable artificial-intelligence models to chip away at the lead of frontier labs such OpenAI and Anthropic. ---- Kalshi to Offer Contracts Predicting Flight Cancellations The contracts will allow users to predict the percentages of flights canceled at an airport within a given timeframe. ---- Patrick Drahi's Altice International Accused of Debt Default Lenders holding about $9 billion in bonds claim Patrick Drahi's telecom empire stripped away collateral through intercompany deals, sources said. ---- Stripe and Private-Equity Firm Advent Offer to Buy PayPal The deal would value the fintech company at around $53 billion. ---- BlackRock Shares Rally After Assets Soar Past $15 Trillion BlackRock reported profits rose 20% from a year earlier, and shares rallied almost 7%. ---- Conagra Swings to Loss, Cuts Dividend Under New CEO The maker of Orville Redenbacher's popcorn and Slim Jim swung to a loss in the fiscal fourth quarter and cut its dividend, as its new chief executive aims to strengthen the company with a more conservative spending strategy. ---- JPMorgan, BlackRock and Goldman to Tokenize Stocks, Treasurys Trade processor DTCC is launching a trial run with Wall Street firms to convert assets into digital tokens. ---- Morgan Stanley Posts Blowout Quarter Thanks to Blockbuster IPOs, Newly Minted Millionaires The bank reported adjusted second-quarter earnings of $3.46 a share, blowing past Wall Street forecasts thanks to a surge in investment banking revenue. (END) Dow Jones Newswires July 15, 2026 21:15 ET (01:15 GMT) Copyright (c) 2026 Dow Jones & Company, Inc.
Jamie Dimon Warns Anthropic's Mythos AI Poses National Security Risks
JPMorgan Chase CEO Jamie Dimon has warned that Anthropic's advanced Mythos artificial intelligence model presents significant national security risks, highlighting growing concerns over the potential misuse of powerful AI systems. Speaking at Senator Dave McCormick's Pennsylvania Defense and Innovation Summit on Wednesday, Dimon said the U.S. government is taking the issue seriously and emphasized that access to cutting-edge AI technologies must remain tightly controlled. He compared unrestricted access to Mythos with handing out "ballistic missiles," arguing that highly capable AI models should not be freely available to individuals because of the security threats they could pose. Anthropic introduced its Mythos AI model in April to a limited group of organizations, including JPMorgan Chase. The model quickly gained attention within the financial industry for its ability to detect cybersecurity vulnerabilities, allowing companies to identify and address software weaknesses more efficiently. Financial institutions have viewed the technology as a valuable tool for strengthening cyber defenses and protecting critical infrastructure. Despite its commercial potential, Mythos has also raised concerns among U.S. policymakers. In June, the U.S. government instructed Anthropic to restrict access to its most advanced AI models, Fable 5 and Mythos 5, for foreign nationals due to national security considerations. The move reflected fears that sophisticated AI capable of discovering software vulnerabilities could be exploited by hostile governments or intelligence agencies. Those restrictions were later lifted after Anthropic implemented additional security safeguards designed to reduce the risk of misuse while maintaining access for authorized users. The debate surrounding advanced artificial intelligence continues to intensify as governments and technology companies seek to balance innovation with security. Washington has increased oversight of next-generation AI systems amid concerns that powerful models could be leveraged for cyberattacks, military intelligence, or other malicious purposes by countries such as China and Russia. Anthropic did not immediately respond to requests for comment on Dimon's remarks outside regular business hours. The company remains at the center of broader discussions over AI governance, cybersecurity, and the responsible deployment of increasingly capable artificial intelligence models.
Why SpaceX shares fell below their IPO price for the first time
SpaceX shares slipped below their initial public offering (IPO) price for the first time on Wednesday, a little over a month after the company made history with the biggest IPO ever. The stock later recovered slightly and closed at $135.27, just above its IPO price of $135. During the day, however, it fell as low as $132.28. The drop marks a big change for the Elon Musk-led company, whose stock had surged after listing and briefly pushed its market value above $2.6 trillion, making Musk the world's first trillionaire. By Wednesday afternoon, the company's valuation had fallen to around $1.78 trillion. SpaceX shares fall below IPO price When SpaceX debuted on the stock market, investor excitement sent its shares soaring. At one point, the company was valued even higher than tech giants Microsoft and Amazon, despite both companies having much longer histories as public firms and stronger financial results. But that excitement has started to fade. SpaceX made history with the biggest IPO ever when it debuted on the stock market on June 12. On its first day of trading, the company's shares jumped 19%. The IPO was priced at $135 per share, while the stock opened at $150, about 11% higher than the offer price. Since then, however, the shares have slowly moved lower, even after being added to the Nasdaq-100 index. Wednesday's decline came as the technology-heavy Nasdaq Composite also slipped about 0.2%, while technology stocks have remained volatile over the past month. Why did SpaceX shares fall? Several factors came together to pull SpaceX's shares lower. After the stock's strong rally following its record-breaking IPO, many investors chose to book profits, leading to increased selling. At the same time, some on Wall Street began questioning whether the company's valuation had become too high after it briefly crossed $2.6 trillion, especially since SpaceX reported a $4.9 billion loss last year and many of its long-term projects are still in the early stages. Investors are also growing cautious about the company's heavy spending on artificial intelligence after it raised $25 billion through bonds to fund new technology infrastructure. Concerns that the US Federal Reserve could raise interest rates have only added to the pressure on highly valued technology stocks. Even SpaceX's inclusion in the Nasdaq 100 failed to lift sentiment, with the stock falling about 13% since joining the index. Analysts also say there have been no major new developments to renew investor excitement, while the upcoming expiry of the IPO lock-up period could lead to more selling as employees and early investors become eligible to sell part of their holdings. Investors may be cashing out Justus Parmar, CEO of Fortuna Investments, which invests in SpaceX, believes one reason behind the recent weakness is that some investors are beginning to sell their shares and lock in profits. "I think the elephant in the room is there's a lot of folks that are in the stock, and maybe some of them, or a good number of them are wanting to take some liquidity, which is essentially putting a lot of pressure on the stock," Parmar told Reuters. He added: "You're probably seeing a little bit of it, and through the course of the year, we'll be seeing more of that." However, SpaceX is not the first major company to see its shares fall soon after going public. One example is British chip designer Arm Holdings, which also slipped below its $51 IPO price about a week after its much-talked-about market debut in 2023. However, the stock later recovered strongly. Data from University of Florida finance professor Jay Ritter also shows that weak performance after an IPO is quite common. According to his research, more than 70% of companies that went public between 1974 and 2021 delivered negative returns over the next three years compared with their offer price. Still, the decline is likely to boost the argument of critics who believed SpaceX's valuation had become too expensive. The company reported a $4.9 billion loss last year, and many of its biggest long-term projects have yet to prove they can succeed. Nasdaq 100 inclusion fails to help SpaceX's entry into the Nasdaq 100 index also failed to lift the stock. Since joining the technology-heavy index, the company's shares have fallen by about 13%. Steve Sosnick, chief market analyst at Interactive Brokers, said investors have not seen any fresh developments that could renew confidence in the stock. "The fact that a stock has fallen a couple of dollars below its IPO price in itself is not a tragedy, but SpaceX is heavily watched and has an important role in investor psyche." Even though the stock has weakened, many Wall Street analysts remain optimistic about SpaceX's future. Morgan Stanley, one of the lead underwriters for the company's IPO, has set a 12-month price target of $300 for the stock. JPMorgan expects the shares to reach $225 by the end of 2027. Not everyone is as optimistic, though. Morningstar believes the stock is worth much less. Last month, the research firm said it values SpaceX shares at just $63. All eyes now on earnings and lock-up expiry Investors are now waiting for SpaceX's first earnings report since becoming a public company. Analysts expect the results to be released during the first week of August. Soon after that, the first phase of the IPO lock-up period will end. This will allow eligible employees and some early investors to start selling part of their holdings. Apart from financial results, investors are closely watching SpaceX's 13th Starship test flight. The successful development of Starship is considered important for the company's future plans. SpaceX hopes the rocket will lower launch costs and support ambitious projects such as orbital data centres and missions to the Moon. Disclaimer: This article provides factual analysis only and is not, and should not be construed as, an offer, solicitation, or recommendation to buy or sell securities. Investors must conduct their own independent due diligence and seek advice from a registered financial advisor in the respective jurisdiction.
US tightens AI policies on China amid Anthropic's call to extend lead
The United States has intensified its stance on artificial intelligence in its dealings with China, according to a report by the South China Morning Post. This development coincides with Anthropic, the world's most valuable AI startup, advocating for the U.S. to maintain its technological lead in AI. The Trump administration rolled out new restrictions in June 2026, targeting both chip exports and model weights, as part of a comprehensive framework. Anthropic's recent $65 billion funding round has positioned it ahead of OpenAI, further emphasizing its strategic significance in the AI sector. Market participants appear to be interpreting these developments as favorable for Anthropic's valuation prospects. The U.S.'s approach may indicate a supportive regulatory environment for domestic AI firms like Anthropic, potentially facilitating their growth and competitiveness on the global stage. Chinese authorities, meanwhile, are reportedly considering reciprocal measures, adding complexity to the geopolitical landscape surrounding AI advancements. Key Takeaways * The U.S. government's toughened AI policies appear consistent with supporting Anthropic's market position. * Market pricing suggests Anthropic's valuation could increase, reflecting perceived benefits from U.S. regulatory actions. * Anthropic's strategic calls for a pause in AI development align with its goal to maintain a competitive edge. What to Watch Observers will be monitoring the response from Chinese authorities, which could influence global AI market dynamics. The progression of U.S. policy and its impact on AI firms' growth strategies remains a critical area of focus. Additionally, any further announcements from Anthropic regarding partnerships or funding could shift market sentiment and valuation forecasts. Get live prediction-market analysis, powered by Vera. Sign up for Vera.
SpaceX Stock Falls Below IPO Price as Investors Weigh Losses and Lockup Expiry
SpaceX shares fell below their initial public offering (IPO) price for the first time on Wednesday, highlighting growing investor caution as the company's early post-listing momentum continues to fade. The stock dropped 2.2% to $133.02 during midday trading, slipping beneath its $135 IPO price set during last month's $86 billion public offering. The decline extends a volatile trading period for the Elon Musk-led aerospace company. After surging nearly 50% within its first three trading sessions, SpaceX stock has surrendered much of those gains as investors reassess the company's financial outlook and broader market conditions. Market participants are also watching the upcoming expiration of the first insider lockup period, which will occur after SpaceX releases its first quarterly earnings report as a publicly traded company. The end of these restrictions could increase selling pressure as early investors and company insiders become eligible to sell their shares. Investor sentiment weakened further after SpaceX disclosed a net loss of $4.9 billion for the previous year, raising concerns about the company's timeline for achieving sustained profitability. At the same time, uncertainty surrounding the Federal Reserve's interest rate policy and slowing enthusiasm for artificial intelligence-related stocks, particularly semiconductor companies, have added pressure to high-growth technology names. Despite the recent pullback, SpaceX initially benefited from strong institutional demand following its rapid inclusion in major stock indexes. The company was added to the Russell 1000 Index shortly after its market debut and later joined the Nasdaq-100 after eligibility rules for newly listed large-cap companies were accelerated. Even with shares trading below their IPO price, Wall Street analysts remain optimistic about the company's long-term growth potential. Raymond James recently issued one of the most bullish forecasts on the stock, assigning an $800 price target and signaling confidence that SpaceX can recover as it expands its commercial space, satellite, and technology businesses.
SpaceX reveals AI1 orbital data center design for satellite network
The AI1 satellite's 70-meter wingspan and 150 kW compute payload could reshape how the world thinks about AI infrastructure. SpaceX unveiled its AI1 orbital data center satellite in a video around June 9, 2026, laying out a vision for AI computation that skips terrestrial infrastructure entirely. The satellite is designed for sun-synchronous orbit, powered by solar arrays, cooled by passive radiation, and connected to the rest of the world through laser links to the existing Starlink constellation. The headline specs are striking. The AI1 has a 70-meter wingspan, a deployed height of 20 meters, and a peak compute payload capacity of 150 kW. Elon Musk noted that one AI1 satellite's power output is roughly equivalent to one Nvidia GB300 rack. Simpler than Starlink, bigger ambitions Musk pointed out that AI1 manufacturing drops the phased-array antennas that make Starlink satellites complex to produce. What's left is solar cells, radiators, and laser links. In January 2026, SpaceX filed with the FCC proposing a constellation of up to one million AI1 satellites. To support that manufacturing ambition, the company is building a Gigasat factory in Bastrop, Texas. Initial AI1 satellite launches are targeted for late 2027, though SpaceX plans to deploy compute payloads on select existing Starlink satellites before the dedicated AI1 fleet is ready. The AI1 operates at roughly 70 kW per ton at approximately 600 km altitude. Passive radiative cooling in the vacuum of space sidesteps one of the thorniest problems facing ground-based data centers: heat. On Earth, cooling a hyperscale data center can consume a significant portion of its total energy budget. In orbit, you radiate heat directly into space. The terrestrial data center problem this is solving SpaceX is explicitly pitching AI1 as a way to sidestep land use, power grid, water cooling, and permitting constraints that face terrestrial data centers. The laser link architecture routes data through the Starlink constellation rather than requiring dedicated ground stations at every customer site. Hardware refresh cycles are a known challenge: you can't easily send a technician to swap out a GPU at 600 km altitude. Whatever compute is on that satellite has to last, or the economics of the whole system deteriorate quickly. What investors should watch The AI1 announcement lands at an interesting moment for SpaceX's corporate trajectory. The company has been preparing for an IPO, and orbital data centers represent a differentiated, high-margin business category. Starlink's connectivity business is already profitable; AI compute-as-a-service from orbit would be an entirely new revenue category. Microsoft, Google, and Amazon have all committed to multi-hundred-billion-dollar terrestrial data center buildouts over the next several years. The late 2027 launch timeline gives the market roughly 18 months to decide how seriously to price this possibility.
Inside The SpaceX AI1 Orbital Data Center: Can It Compete With Terrestrial? Here's The Full Math
Last December, when SpaceX's plan to IPO was still a distant vision (amid rumors of a valuation of "only" $800BN, or less than half where the company finally landed), we laid out a blueprint of what data centers in space would look like, and also recommended a handful of public companies for those who wanted to invest in this theme. Fast forward nearly 7 months later when, with SPCX now public (if briefly dipping below its IPO price earlier today), we refresh on the sector and the cost model, and share some further analysis around optical/lasers, spectrum, solar, radiator, and compute density. Additionally, we use the latest Deutsche Bank research on SpaceX (available to pro subs) to factor in the latest thoughts and disclosures from the Musk regarding its AI1 satellite and Starmind constellation.
JPMorgan CEO Dimon says Anthropic's Mythos AI risks are a 'real issue'
Mr. James Dimon is a Chairman & Chief Executive Officer at JPMorgan Chase Bank, NA and JPMorgan Chase & Co. and a Member at The Business Council. He became Chairman of the Board on December 31, 2006, and has been Chief Executive Officer and President since December 31, 2005. Mr. Dimon is on the Board of Directors of Harvard Business School and Catalyst; Chairman of the Business Roundtable; and a member of The Business Council. He is also on the Board of Trustees of New York University School of Medicine. He does not serve on the board of any publicly traded company other than JPMorgan Chase. Mr. Dimon was President and Chief Operating Officer following JPMorgan Chase's merger with Bank One Corporation in July 2004. At Bank One, he was Chairman and Chief Executive Officer from March 2000 to July 2004. Before joining Bank One, Mr. Dimon held a wide range of executive roles at Citigroup Inc., the Travelers Group, Commercial Credit Company and American Express Company. He graduated from Tufts University and received an M.B.A. from Harvard Business School.
SpaceX shares drop below IPO price for first time as blistering rally unravels
SpaceX shares dropped below their initial public offering price for the first time on Wednesday before closing just above that level, just over a month after the rockets-to-AI firm completed the biggest IPO ever and made Elon Musk the world's first trillionaire. The shares slid 0.6% to close at $135.27, after falling as low as $132.28 -- below the $135 IPO price and well below last month's high that briefly propelled the company's market valuation above those of tech giants Microsoft and Amazon, firms with longer public track records and stronger financial results. It is the latest reminder that Wall Street's enthusiasm can cool quickly, even for a company whose vast ambitions and Musk backing briefly helped it fetch a valuation above $2.6 trillion last month, compared with $1.78 trillion on Wednesday afternoon. "I think the elephant in the room is there's a lot of folks that are in the stock and maybe some of them or a good number of them are wanting to take some liquidity, which is essentially putting a lot of pressure on the stock," said Justus Parmar, CEO of SpaceX investor Fortuna Investments. "You're probably seeing a little bit of it and through the course of the year, we'll be seeing more of that." Debt concerns The about-face in SpaceX reflects in part investor concern over debt-funded AI spending and what potential Federal Reserve rate hikes might do to stretched tech valuations. SpaceX turned to the bond market last month to raise $25 billion, becoming the latest tech giant to sell bonds to build out costly technology infrastructure whose return prospects are hotly debated on Wall Street. The stock's retreat "seems to be a combination of profit-taking, valuation reassessment and the unwinding of extremely bullish positioning following one of the most anticipated listings in recent years," said Daniela Hathorn, senior market analyst at Capital.com. It is not uncommon for a stock to fall below the IPO price, especially during periods of broader market stress. Still, the drop could bolster critics who have argued that SpaceX's valuation was stretched, given that it lost $4.9 billion last year and many of its ambitions are untested. Nasdaq inclusion fails to lift shares "There hasn't been anything lately to remind people of some of the catalysts for why they bought SpaceX," said Steve Sosnick, chief market analyst at Interactive Brokers. "The fact that a stock has fallen a couple of dollars below its IPO price in itself is not a tragedy, but SpaceX is heavily watched and has an important role in investor psyche." The stock's addition to indexes such as the tech-heavy Nasdaq 100 didn't reverse the retreat. SpaceX's shares have dropped some 13% since they were included in the Nasdaq 100. Investor focus will shift to the company's first results after listing. Analysts expect the report to happen in the first week of August. After the report, the first phase of the IPO lock-up period is set to expire, allowing eligible employees and some early shareholders to begin selling portions of their holdings, an event that analysts say could weigh further on the stock. Investors are also closely watching the company's 13th Starship test flight as the rocket's successful development is critical to lowering launch costs and enabling many of its most ambitious long-term projects, including orbital data centers and lunar missions. "We're really on maybe 30 days or so into this experiment, still so very early," said Parmar. "The big thing is Elon got his $85 billion to take SpaceX to the next level of growth, which will take many years to see how that plays out. Not 30 days of trading."
Get Razer's Kraken Kitty V2 wired or wireless headset while they're starting at just $58 (Nearly 50% off)
We are now tracking a deal at Amazon, which drops the wireless Razer Kraken Kitty V2 Hello Kitty headset down to $102.98 shipped. Don't forget to clip the on-page coupon to see the discounted price during checkout. That is down from its $140 list price and roughly $6 below the previous $109 low, marking the best price we have tracked for it so far. The wired USB version of this headset is also discounted to $57.95 shipped with a similar promo code. Amazon lists that model at $110, so today's offer takes just over $52 off and delivers up to 47% in savings. This remains one of the more popular headsets in Razer's catalog, and it's available at a solid price today at nearly 50% off. The USB model connects directly to a PC and includes 7.1 surround sound, 40mm drivers, a cardioid microphone, and RGB lighting that can react while you stream. It is the better option if you mainly play at a desk and want a dedicated mic for voice chat. The Bluetooth version skips the cable and works with phones, tablets, laptops, and other compatible devices. It also uses 40mm drivers and includes RGB lighting, but its main advantage is the rated 40-hour battery life and USB-C charging. Both headsets carry a similar Hello Kitty styling and cat-ear design, though the wired model is more focused on gaming and streaming, while the wireless version is easier to use on the go. Looking for more battlestation upgrades? CHERRY's XTRFY M68 lightweight wireless gaming mouse is just $20 today. Also, the Glorious GMMK barebone DIY kit is still at $60, down from its usual price of $80. Razer Kraken Kitty V2 BT Wireless RGB Headset features:
Every SpaceX Starlink satellite has to dodge a collision almost weekly, and experts fear the worst
Experts warn that the rapid growth of satellite constellations, such as Starlink, and the overall increase in operational spacecraft in orbit pose a risk of collisions that may become unmanageable in the future. When you buy through links on our articles, Future and its syndication partners may earn a commission. SpaceX's Starlink satellites made over 355,000 collision avoidance maneuvers throughout the past year, with each satellite now dodging debris and other spacecraft on an almost weekly basis. The numbers are based on disclosures made by SpaceX in its latest semiannual report to the Federal Communications Commission (FCC). According to the latest report, Starlink satellites performed an overall 207,152 avoidance maneuvers between December 2025 and May 2026, up nearly 60,000 from the 148,696 reported in the previous half year. That brings the yearly total to over 355,000, more than three times as many as the constellation performed in 2024. On average, each Starlink satellite performed more than 40 space dodging maneuvers per year between June 1, 2025 and May 31, 2026. Experts fear the situation might soon get out of hand. "I think we're heading towards a situation where there will be a collision involving an operational satellite in the constellation," Hugh Lewis, a space sustainability expert and professor of astronautics at the University of Birmingham in the U.K., told Space.com. "And it will not be for the lack of trying to avoid those things. It will be in spite of all those maneuvers." The increase coincides with the growth of the internet-beaming constellation and the overall number of satellites in space in the past five years. Starlink grew from about 6,000 satellites in 2024 to more than 10,000 as of June 2026. Over the same time period, the overall number of operational spacecraft in orbit rose from around 10,000 to about 16,000. The SpaceX constellation orbits at altitudes between 298 miles (480 km) and 342 miles (550 kilometers) and uses an autonomous collision avoidance system that initiates a maneuver when the probability of a collision appears higher than 3 in 10 million. Lewis says that although SpaceX is "doing an excellent job" managing orbital traffic, the steep growth cannot continue without risks. "The avoidance maneuvers reduce the probability of a collision to about one in a million, which is so small that it's negligible," Lewis said. "The problem is that if you make a million maneuvers and you have a residual probability of one in a million, you end up with an aggregate risk across your entire constellation that you can't get rid of." Lewis points out that with the expected continued rise in avoidance maneuvers (SpaceX has applied to the FCC to increase the size of its constellation to 100,000 satellites), SpaceX will have made a million avoidance maneuvers over the lifetime of the Starlink constellation as early as June 2027. By 2030, the constellation may be making more than a million maneuvers every year. At that point, the one in a million risk of a collision may no longer be negligible at all. Tommaso Sgobba, the Director of the International Association for the Advancement of Space Safety, told Space.com that the increase in collision avoidance maneuvers is a predictable certainty. "The more satellites you pack into [an orbital] shell, the more pairs of satellites exist that could potentially cross paths," Sgobba wrote in an email. "Adding satellites does not just add risk one unit at a time, it multiplies the number of possible pairings. Double the satellites in a shell and you roughly quadruple the number of pairs that need to be watched." Sgobba also said that the collision probabilities predicted are highly inaccurate as the effects of air drag, which change frequently with space weather, are currently impossible to predict. He said that due to the vast uncertainties in satellite trajectory predictions "operators lack tools to tell a real threat from statistical confusion," adding that "satellites are frequently dodging ghosts, burning fuel and shortening their operational lives in the process." SpaceX, being the largest constellation currently in orbit, takes the bulk of responsibilities for orbital maneuvering. Instead of communicating with the other operator to decide who will make the dodge, Starlink satellites automatically avoid other objects -- both space debris fragments or operational satellites -- whenever there is a conjunction alert. Other ambitious constellations, such as Amazon LEO or China's Thousand Sails, or Qianfan, are currently being deployed, actively adding to the high number of satellites operating in low Earth orbit. Lewis said that the only way to safely manage multiple constellations is to make sure their orbits do not intersect. That, however, is not the case based on available information. The Thousand Sails constellation, in particular, is expected to occupy similar regions as Starlink. Many of the recently announced orbital data center projects want to launch into particular orbital regions that are convenient for their operations and are therefore likely to overlap. "The safe thing to do is to separate the constellations," Lewis said. "But then you are talking about orbital carrying capacity and the first mover benefit, because if I go into a particular altitude with my constellation, then nobody else can use it." Sgobba calls for predicted numbers of collision avoidance maneuvers based on satellite numbers to be mandatorily disclosed to regulators before applications are granted. "Right now, there is no clear requirement for a company to say, before launch, how many collision avoidance maneuvers a constellation of this size and density will need every year and whether the satellites carry enough fuel and automation to actually perform them all," Sgobba wrote. "In short, the crowding of orbit is not an accident waiting to happen. It is a manageable, predictable engineering workload and the argument worth making publicly is that regulators should be treating it that way, by asking for these numbers up front rather than reacting to headlines about near misses after the fact."
Aramco Awards Halliburton Company Long-Term Contract for Unconventional Gas Program
Aramco awarded Halliburton Company a multi-year contract to deliver integrated stimulation and completion services for unconventional gas development in the Kingdom of Saudi Arabia. This award is part of a broader multi-billion contract, supporting one of the largest unconventional gas development programs globally. Across many of the Kingdom?s unconventional plays, Halliburton Company delivers a comprehensive suite of drilling and completion solutions. Its integrated service model is designed to support high-intensity development programs and improve operational efficiency, workflow predictability, and execution reliability. Beginning in the third quarter of 2026, Halliburton Company will deploy the Kingdom?s first fully integrated intelligent fracturing platform through OCTIV Auto Frac and Sensori fracturing monitoring services to contribute to asset value for one of the world?s largest unconventional fields. Under the program, Halliburton Company will deploy intelligent automation solutions for fracturing to optimize performance in real time and support disciplined implementation across multi-well campaigns. These technologies support digital integration across operations while advancing efficiency and operational reliability. Development activities in the Jafurah Basin are underway. To support this effort, Halliburton Company plans to increase its investment in local manufacturing, improve its supply chain, and expand workforce development programs within the Kingdom, aiming to scale operations and sustain high performance as unconventional activity accelerates.