News & Updates
The latest news and updates from companies in the WLTH portfolio.
Elon Musk's SpaceX paid to secure its ticker symbol ahead of blockbuster IPO
SpaceX paid Tuttle Capital Management to relinquish the ticker symbol "SPCX" ahead of the Elon Musk company's highly anticipated IPO, MarketWatch has learned. The confirmation by a person familiar with the transaction settles weeks of speculation after Tuttle abruptly changed the ticker symbol of one its ETFs from "SPCX" to "SPCK" in April. That decision sparked speculation that the Musk-controlled company had paid Tuttle for the trading symbol. Most Read from MarketWatch The person spoke on condition of anonymity and would not discuss the dollar figure involved in the transaction. In a post on X published Thursday, the official SpaceX account thanked Tuttle Capital for the ticker symbol SPCX. Short, memorable ticker symbols are often viewed as valuable branding material, particularly during high-profile IPOs. In a reply to Musk on X late last year, Matt Tuttle, the founder of Tuttle Capital, indicated he would be open to giving up the ticker symbol. Tuttle Capital's SPAC & New Issue ETF SPCK launched in December 2020, according to SEC filings. It traded under the symbol "SPCX" until April 7, when it officially began trading under the "SPCK" symbol. The ETF has about $7 million in assets under management, according to FactSet data. SpaceX did not immediately respond to a request for comment. The company said in an amended regulatory filing on Wednesday that it expected to go public at $135 per share, which would make it the biggest IPO in history. That puts the company on track for a nearly $1.75 trillion market valuation. See: SpaceX officially set to crush global records in targeting massive IPO haul of up to $86 billion The price is subject to change as the IPO draws closer and the company gets a clearer sense of demand.
SpaceX signs $920 million monthly cloud compute deal with Google ahead of IPO - Cryptopolitan
Both deals bolster SpaceX's financials ahead of its planned IPO targeting a $75 billion raise. SpaceX is primed to receive a whopping $920 million per month from Google, so the latter can make use of its AI cloud computing facilities, according to an SEC filing today. This gives Elon Musk's rocket, AI, and satellites company another major cloud customer weeks before its planned IPO. The agreement runs from October 2026 through June 2029 and covers roughly 110,000 Nvidia GPUs along with CPUs, memory, and related infrastructure, according to the SEC filing. Compute capacity is expected to increase gradually till September at a lower cost before reaching the full monthly rate. SpaceX AI cloud business in demand The Google deal follows a similar arrangement SpaceX struck with Anthropic in May, where the Claude chatbot maker got full access to the full computing power of SpaceX's Colossus 1 facility in Memphis, Tennessee. This facility houses more than 220,000 Nvidia processors and provides 300 megawatts of capacity, according to Reuters. Together, the two contracts represent more than $70 billion in total value, provided neither is terminated early before its scheduled end date. On an annual basis, both deals are also worth a total of $26 billion. SpaceX has widely mentioned a target of $75 billion in its upcoming initial public offering, and the company's revenue story and outlook can only be further strengthened by these moves to lock in long-term, high-value AI compute customers. Termination factors and terms The contract can be terminated early in specific cases and these terms have been put in to serve as protections for Google. Google can terminate the agreement after a one-month grace period if SpaceX fails to deliver the agreed number of GPUs by September 30, 2026, or accept whatever capacity SpaceX has delivered at that date for a proportionally reduced fee, according to the filing. After December 31, either side can exit the deal with 90 days' notice. The filing also stated that all intellectual property rights in content and AI models, in addition to all data processed on the infrastructure will belong to Google. GPUs upon GPUs The competition for GPU capacity has continued to grow at an alarming rate, and this deal only proves how crazy the competition has become among companies building large AI systems. Google operates its own massive data center network and custom TPU chips, and in spite of this, still has to pay nearly $1 billion a month to rent Nvidia hardware from another big tech company. For SpaceX, the AI cloud compute hardware industry represents a new revenue stream distinct from its rocket and Starlink satellite businesses. The Colossus facility in Memphis, originally built to serve Musk's own xAI venture, is now generating billions in annual revenue from outside customers.
Anthropic (Claude) May Be the Only $1 Trillion IPO Worth Buying
With SpaceX potentially just days away from going public, I think many investors expected OpenAI, the parent company of ChatGPT, to be the next trillion-dollar initial public offering (IPO). However, Anthropic, the parent company of Claude, has beaten them to the punch. The company announced on June 1 that it has confidentially filed to go public with the U.S. Securities and Exchange Commission (SEC). This filing allows the company to go public following the SEC's review, although Anthropic made it clear that whether it actually follows through with an IPO will depend on market conditions and other factors. While many details about the company remain unknown, Anthropic could end up being the only $1 trillion IPO worth buying. These trillion-dollar IPOs will launch with sky-high valuations Interestingly, Anthropic is planning an IPO after just announcing a $65 billion series H private funding round at a post-money valuation of $965 billion. Investors might have assumed that would give the company some runway, but perhaps the company wants to take advantage of strong market conditions for AI companies to raise more money at a higher valuation. The $965 billion valuation officially eclipsed OpenAI, which earlier this year closed a $122 billion private funding round at an $852 billion valuation. SpaceX, Anthropic, and OpenAI all promise to be game-changing companies and already have begun to change the game to an extent. But Anthropic could offer investors a more realistic valuation. SpaceX is not yet profitable and grew revenue 33% year over year in 2025 -- a massive increase for any company, but still perhaps slower than investors are looking for. With nearly $18.7 billion of revenue in 2025, SpaceX, at a $1.8 trillion valuation, would be asking for a trailing-12-month revenue multiple of 100x. Now, of course, these companies aren't going to be valued on fundamentals and could define new sectors with tremendous runways. The problem is that these valuations are baking in an incredible amount of success and may not account for roadblocks that could arise. In March, OpenAI reportedly hit a $25 billion annualized revenue run rate. Reports also suggest that the company will seek an IPO valuation of $1 trillion or more. If this were to be the case, it would be asking for a 40x forward revenue multiple because revenue run rate essentially annualizes one month's number. However, media reports earlier this year suggested that the company has been struggling to hit internal revenue targets. Furthermore, the company reportedly has $600 billion of data center commitments by 2030. Finally, as recently as April, media outlets reported that OpenAI is not expected to turn a profit until at least 2030. Anthropic is further along Anthropic has come a long way since the release of AI chatbots in 2022. OpenAI once looked like it had a lead that it would never surrender. However, Anthropic has now surpassed it in terms of valuation. Tools like Claude Code have resonated incredibly well, and enterprises appear to view Anthropic as the better large language model (LLM) company. The company also appears to have been more conservative with spending commitments. CEO Dario Amodei said on a podcast in February, "I think it is true we're spending somewhat less than some of the other players." Other media outlets have reported that the company expects to hit a nearly $50 billion annualized revenue run rate by the end of June, up from $30 billion in April, and turn an operating profit in the current quarter. That would be quite impressive. If Anthropic targeted a $1 trillion valuation in an IPO, it would only be asking investors for a 20x forward revenue multiple, half of what OpenAI would potentially request. The path to profitability also carries significant sway. Now, it's hard to know exactly what kind of valuation Anthropic will target, given its success. People betting on Polymarket, however, are placing a 53% chance (as of June 3) that the stock closes its first day of trading at a market cap over $1.8 trillion. This isn't necessarily the IPO valuation Anthropic is looking for, but what the market would assign it after having its first chance to buy the stock. Obviously, there is still a lot we don't know, and investors will want to review the company's registration statement before making a determination. But right now, there is a chance Anthropic goes public at a valuation much more reasonable than SpaceX or OpenAI's.
Wall St Week Ahead Blockbuster SpaceX IPO set to test high-flying US stocks rally
NEW YORK, June 5 (Reuters) - The long-awaited, massive SpaceX initial public offering is expected next week, a major event for the U.S. stock market, with investors wary of possible overexuberance. Stock indexes fell on Friday as strong jobs data ignited fears of hawkish monetary policy and semiconductor shares tumbled after a torrid run. The benchmark S&P 500 (.SPX), opens new tab posted a weekly decline after nine straight weeks of gains. The S&P 500 was still up about 8% in 2026, including a 16% rebound since its late-March low for the year. "Nothing has stuck in terms of pessimism in the last two months," said Mark Hackett, chief market strategist for Nationwide. "There is just this underpinning of momentum, this insatiable appetite for tech holdings and just the technical buying spree that is really dwarfing almost all other inputs." Next week, investors will also assess fresh data on consumer and producer prices, after the jobs report fueled fears that the Federal Reserve would focus on calming inflation, potentially leading to interest rate hikes. The coming week also brings earnings reports from key companies in the technology sector, which has driven the market's recent surge despite a sour end to the week. Some investors have been bracing for a pause, if not a pullback, after the sharp rally. Risks include the U.S.-Israeli war with Iran and the potential for renewed spikes in energy prices if Middle East tensions flare. SPACEX IN SPOTLIGHT Elon Musk's SpaceX is aiming to raise $75 billion, the most ever for an IPO, in a deal that would value it at $1.75 trillion. Pricing is expected on June 11, with trading to begin on the Nasdaq the next day. The company has an unusual and diverse set of businesses, including rockets, satellite communications and AI computing. Adding in the involvement of Musk -- Tesla's (TSLA.O), opens new tab leader and the world's wealthiest man -- and SpaceX's valuation is tricky to pin down, rising to exorbitant levels by some measures. The company posted a net loss of $4.94 billion in 2025, even as revenue rose 33% to $18.67 billion. The IPO could lure significant attention from retail investors and provide another high-profile way to gain exposure to the AI trade. "We've got one of the biggest IPOs in history coming ... which I think is the focus of everybody's interest," said Jason Pride, chief of investment strategy and research at Glenmede. "The question mark surrounding it is whether it's an indication of market froth." SpaceX's debut is expected to be followed by other mega IPOs in the coming months from Anthropic and OpenAI, two of the AI leaders. Anthropic, which makes the Claude chatbot, said this week it has confidentially filed for a U.S. IPO. The SpaceX IPO is "an important benchmark," said Matt Wittmer, a portfolio manager at Allspring Global Investments, adding that "the company itself will be playing in some of those key areas that people are looking for to find new secular growth opportunities." CPI DATA DUE, ORACLE, ADOBE TOO The May Consumer Price Index, due on Wednesday, will show how surging oil and gasoline prices are influencing inflation. One concern is the extent to which higher energy prices might be affecting other CPI components, Pride said, ahead of the Federal Reserve's meeting this month. "The Federal Reserve is going to be watching this like a hawk," Pride said. "They're going to want to see those pieces continue to remain stable and not increase as a pass-through from the energy and food prices." In the wake of the spike in energy prices, futures are factoring in a greater chance the Fed raises interest rates this year rather than cuts, after markets had anticipated equity-friendly rate decreases at the start of 2026. Other economic data next week includes Thursday's report on producer prices. Quarterly reports from tech companies Oracle (ORCL.N), opens new tab and Adobe (ADBE.O), opens new tab will also be in focus. Tech has long dominated the U.S. stock market, but the sector's recent outperformance pushed it to more than 39% of the S&P 500's market capitalization this week, its highest share on record. The results will test the strength of the tech trade and the rebound in the software industry, which was hit hard to start the year on concerns about AI disruptions. Shares of Oracle are up more than 9% this year, while Adobe is down 28%. "Getting more data points from some of the AI value chain is going to be important," Wittmer said. Reporting by Lewis Krauskopf; Editing by Colin Barr and Rod Nickel Our Standards: The Thomson Reuters Trust Principles., opens new tab
Jamie Dimon called Elon Musk the 'Edison of our time' as JPMorgan hosted SpaceX's $75 billion IPO road show -- and even invited Musk's mom
As Elon Musk prepares for what will likely be the biggest listing in history, some top-tier bankers assisting with SpaceX's public debut are lining up to sing Musk's praises ahead of the big day. SpaceX is targeting a price of $135 per share when the company goes public -- which could happen as early as next week. Such pricing could raise a record-setting $75 billion, and potentially turn Musk into the world's very first trillionaire. A successful IPO would also likely be very good business for the legion of banks gearing their investors up for a potentially blockbuster series of public listings throughout the rest of the year. And one unlikely ally on his side is JPMorgan Chase CEO Jamie Dimon, who, despite their public feud years ago, is now singing Musk's praises. "Elon is the Edison of our time," Dimon said during a virtual interview with Musk Thursday, part of a road show event hosted by the bank at its Manhattan headquarters and attended by several thousands of the bank's high-net-worth clients. "It's been an extraordinary 24 years watching Elon grow over time, and now making a massive leap into the future," Dimon said during the event. The interview opened with an in-person special guest appearance by his mother, Maye Musk, who similarly lavished praise on her son, noting his seemingly prodigal vision of the future as a child. "When you were 3 years old, and I told people, 'I have a genius son,' they would roll their eyes," she said. "When you said you wanted to start with rockets, then I rolled my eyes. And then, you did it." A congratulatory introduction from his mother is one thing, but Dimon's words might have surprised Musk just a few years ago. The pair were involved in a well-publicized feud -- that included a $162 million lawsuit filed by JPMorgan against Tesla, Musk's electric car company, in 2021 over an alleged contract breach regarding stock warrants. The bank dropped its lawsuit last year. But Dimon started putting on a charm offensive as early as the World Economic Forum meeting in January of this year, well before SpaceX's lucrative IPO was a reality. "The guy is our Einstein," Dimon said of Musk during a CNBC interview at Davos, adding that the two had patched up their disagreement. "I'd like to be helpful to him and his companies as much as we can," Dimon said. In April, SpaceX would go on to confidentially file for an IPO. To navigate the blockbuster offering, SpaceX has tapped some of Wall Street's most elite names to underwrite, publicize, and advise on the entire affair. Earlier this year, SpaceX reportedly was working with at least 21 banks in preparation for the IPO, including heavyweights such as JPMorgan Chase, Morgan Stanley, Goldman Sachs, and Bank of America. Over the past few months, these institutions have taken on the job of pitching investors, distributing shares ahead of the public listing date, and creating buzz for the company and its mission.
Anthropic Calls For Pause Or Slowdown In AI Development After Pope Leo's Encyclical
Less than two weeks after Pope Leo XIV published an encyclical warning artificial intelligence (AI) companies against constructing "a new Tower of Babel," the multibillion-dollar AI company Anthropic is calling for a global pause or slowdown in development. Anthropic co-founder Jack Clark and Anthropic Institute head Marina Favaro published a blog on June 4 warning about a risk of "humans losing control over AI systems" as its own system Claude is reaching the potential to autonomously design its own successor without any human contributions. "This is called recursive self-improvement," they wrote. "We are not there yet, and recursive self-improvement is not inevitable. But it could come sooner than most institutions are prepared for." The blog post did not mention the encyclical, but a separate Anthropic co-founder, Chris Olah, met with Leo and sat alongside the pope when the encyclical Magnifica Humanitas was revealed on May 25. Anthropic has engaged in outreach to the Vatican and other religious leaders to help address ethical questions related to AI development. In the blog post, Anthropic leaders explained that its AI system is taking over a large portion of writing code that designs AI -- with its workload growing eightfold every quarter. AI will "become much more capable in coming years," they wrote, and "these trends have huge implications." "If systems are capable of fully building their own successors, the ways we secure them, monitor them, and shape their behavior all grow much more important," they wrote. Although Clark and Favaro acknowledged AI has not reached this level yet and they cannot say for certain it will, they wrote: "We do not have good intuitions for what this world would look like" if this occurs, and AI capabilities "eclipse those of humans." Anthropic's leaders wrote that AI companies should come together to either pause or slow down development "to give ourselves more time to deal with its immense implications." However, this would require global international cooperation among countries and AI companies because "if a slowdown simply lets the least cautious actors catch up technologically, it could leave everyone less safe," they wrote. "We believe it would be good for the world to have the option to slow or temporarily pause frontier AI development to enable societal structures and alignment research to keep up with the advance of the technology," they added. Anthropic intends to engage with policymakers, researchers, and other members of the public to discuss these concerns. The company will publish a document based on what comes out of the conversations. 'Disarming' AI Charles Camosy, a moral theologian at The Catholic University of America who has worked with Anthropic on ethical questions, told EWTN News that Anthropic's statements appear in line with Leo's desire to "disarm" AI, which the pontiff explained as not halting innovation but "preventing it from dominating humanity." He said Anthropic recognizes the speed of development as "such a problem we all need to slow down here." Such a pause would allow society to "think about what AI should or should not do in the culture," he said. Camosy pointed to concerns about "outsourcing" teaching, tutoring, parenting, care for the sick, and other human interactions to AI, possibly "undermining the things that ... make our humanity magnificent." He recognized that fierce AI competition among nations and companies "creates a significant roadblock" to global cooperation for slowing everything down, but said: "I've been astonished by how many different kinds of people are interested in this encyclical." "Many people were kind of waiting for someone to fill the moral space," Camosy said and suggested the Church help lead a global movement that demands ethical AI, and he encouraged the Holy Father to consider a trip to Silicon Valley. "To many people that sounds hopefully naive," he said. "But I don't see another choice here."
Elon Musk's SpaceX secures $920 million monthly Google deal for cloud compute capacity- Explained | Company Business News
Google has deepened its partnership with SpaceX through a significant infrastructure deal that will see the search giant pay the rocket company $920 million each month for access to computing power spanning nearly three years. The agreement represents one of the most substantial commitments to date by a major technology firm for SpaceX's growing data centre operations, underscoring how aggressively Elon Musk's enterprise is pivoting toward artificial intelligence infrastructure as it prepares for an expected initial public offering. The contract includes provisions allowing either party to exit the arrangement after a 90-day notice period beginning in 2027, providing flexibility for both organisations as their infrastructure needs evolve. "Google Cloud and SpaceX are long-time partners. This is a short-term, timely agreement to ensure we have bridge capacity to meet surging customer demand for our agent platform, Gemini Enterprise, which has been even higher than we expected." The characterisation of the deal as temporary suggests Google views the arrangement as a means of addressing immediate demand whilst it expands its own data centre infrastructure. The emphasis on "bridge capacity" indicates the company expects to reduce or eliminate its dependence on SpaceX's systems once internal capacity is scaled. Both agreements reflect what SpaceX characterised in its regulatory filing as a deliberate business model: "This structure allows us to monetise unused compute capacity in our infrastructure, while still permitting reallocation of the capacity for our own internal initiatives if needed in the future." An Anthropic spokesperson confirmed the monthly figure to Business Insider. Tom Brown, the AI laboratory's compute chief, disclosed in May that the Colossus infrastructure would be deployed for inference operations -- the computational work required for AI models to generate outputs based on user inputs. The magnitude of GPU acquisition costs has prompted SpaceX to consider manufacturing its own processors -- a move that would position the company as a direct competitor to Nvidia, which maintains overwhelming dominance in the market for high-end graphics processing units. SpaceX lists "manufacturing our own GPUs" within its disclosure of "substantial capital expenditures" the organisation intends to undertake. By selling hundreds of megawatts of computing capacity to Anthropic and now Google, SpaceX has begun to function as a competitor to Google Cloud itself. The dynamics grow more complex given that Google is engaged in discussions with SpaceX to assist with the development of orbital data centres -- a venture that could position Google as both customer and collaborator. The Google and Anthropic agreements represent the opening salvo in what SpaceX clearly intends as a much broader assault on the compute infrastructure sector. As the company prepares for what is anticipated to be a record-breaking public listing, these deals provide both immediate revenue and proof of concept that major technology firms are willing to pay premium rates for computing capacity sourced from outside the traditional cloud infrastructure providers.
Veteran investor says SpaceX, Anthropic IPO frenzy behind Bitcoin selloff
Bitcoin's decline, which began after the Oct. 10, 2025 flash crash, entered a more volatile phase this week after Strategy (Nasdaq: MSTR), the world's largest corporate holder of Bitcoin, revealed it sold Bitcoin last week for the first time in years. U.S. spot Bitcoin ETFs had already recorded net outflows of $2.43 billion in May. To make situation worse, it's only been four days into June, and investors have pulled another $1.40 billion from the funds. Jeffrey Park says investors rotating capital from Bitcoin to IPOs But veteran investor and Bitwise advisor Jeffrey Park believes the recent weakness in Bitcoin runs deeper than Strategy's sale or ETF outflows. In a June 4 post on X, Park said he does not believe Bitcoin is falling because Strategy sold 32 BTC. Instead, he argued that investors are rotating capital into what he described as "the market's upcoming hot ball of money trades." According to Park, some investors are moving funds out of Bitcoin to position for high-profile IPOs, including shares of SpaceX and Anthropic. "This means in the future, the correlation breakdown will itself become the fuel," he predicted. What the investor is implying is that these IPOs are going to be hottest trades of the year and Bitcoin is paling in comparison. Trending on TheStreet Roundtable: Grayscale's research head expects SpaceX IPO to shift Bitcoin treasury dynamics Elon Musk's SpaceX is anticipated to be the largest IPO in market history. The company is reportedly seeking to raise at least $75 billion at a valuation between $1.75 trillion and $2 trillion. When the company filed the Form S-1 with the Securities and Exchange Commission (SEC) on May 20 to make its public debut, it disclosed holding 18,712 Bitcoin on its balance sheet as of Dec. 31, 2025. Though Park believes these IPOs are drawing capital out of Bitcoin, Grayscale's research head Zach Pandl predicted last month that given the kind of treasury SpaceX holds, its IPO could normalize Bitcoin as a mainstream treasury asset for large, operationally complex companies. In fact, Pandl argued that the SpaceX IPO could herald the era of diversified businesses holding Bitcoin on their balance sheets. But pure-play digital asset treasuries (DATs) like Strategy could decline over time, he predicted.
SpaceX boosts Japan fundraising target to $2.5B as retail demand surges ahead of historic IPO
The Elon Musk-led rocket company increased its Japanese share allocation by 25%, part of what could become the largest public offering ever. SpaceX just made its Japanese IPO tranche bigger. The company revised its fundraising target for Japan-based investors from $2B to $2.5B, a 25% jump driven by what it describes as strong retail investor demand in the country. The update came via a Japanese regulatory filing in early June 2026, and it signals something broader: international appetite for SpaceX shares is running hot enough to force the company to revise its plans upward before subscription registration even opens. What the Japanese tranche looks like Japanese investors will get access to roughly 14.8 million to 18.5 million Class A shares, priced at an initial reference of about $135 per share. Subscription registration for the Japanese segment was set to begin around June 6, 2026. The Japan allocation sits inside a much larger offering. SpaceX is targeting a listing on the Nasdaq under the ticker SPCX, and the company's estimated valuation is approaching $1.75 trillion. The total IPO raise could exceed $75B, which would make it the largest initial public offering in history by a wide margin. Saudi Aramco's 2019 IPO raised about $25.6B. SpaceX is aiming to roughly triple that. The Bitcoin connection SpaceX's May 2026 SEC S-1 filing revealed that the company holds 18,712 BTC on its balance sheet as part of its corporate treasury. Those Bitcoins were acquired for $661 million. At the time of the filing, their fair market value sat at approximately $1.45B. That's a paper gain of nearly $800 million, or roughly a 120% return on the initial investment. The risk, of course, is that a Bitcoin price decline could create headline risk for SpaceX post-listing. A 30% drop in BTC would wipe roughly $400 million off the fair value of those holdings. For a company valued at $1.75 trillion, that's a rounding error. But markets don't always think in proportions.
SpaceX Has $30 Billion Deal to Provide Google With A.I. Computing Power
SpaceX revealed in a regulatory filing on Friday that Google will pay it $920 million a month for computing power, pumping billions of dollars into Elon Musk's rocket company as it prepares for a blockbuster initial public offering. The agreement, which starts in October and runs through June 2029, could earn SpaceX about $30 billion in total. It also helps establish SpaceX -- which owns Mr. Musk's artificial intelligence lab, xAI -- as a major infrastructure provider as companies compete in a fierce global race to dominate A.I. As part of the agreement, Google will gain access to about 110,000 A.I. chips from Nvidia, which Google said would help it meet larger-than-expected customer demand for its A.I. models. The tech giant said in April that its cloud business had contracts totaling $460 billion that had yet to be fulfilled as revenue, indicating enormous demand for its services. "Google Cloud and SpaceX are longtime partners," a Google Cloud spokesman said in a statement. "This is a short-term, timely agreement to ensure we have bridge capacity to meet surging customer demand for our agent platform, Gemini Enterprise, which has been even higher than we expected." SpaceX did not immediately respond to a request for comment. SpaceX reached a similar deal last month to provide Anthropic, another leading A.I. lab, with computing power. Anthropic, which is also expected to go public this year, is paying SpaceX $1.25 billion a month. SpaceX is expected to go public next week in a deal that could value the company at more than $1.7 trillion and make Mr. Musk a trillionaire. As part of that process, the company has shed more light on its financial details in recent weeks to entice investors. Mr. Musk has built a massive supercomputer in Memphis to power xAI. But the company has largely lagged behind competitors like OpenAI, Anthropic and Google. In the run-up to SpaceX's going public, Mr. Musk has increasingly leaned into A.I. He has promoted xAI's computing power as an asset, demonstrating that it can be turned into revenue through deals with Anthropic and Google. Mr. Musk has also announced details of a giant chip factory he's building in Texas. And in April, SpaceX announced a $60 billion deal to acquire the A.I. start-up Cursor, which makes a code-writing assistant. The deal with Google deepens ties between the search giant and the rocket maker. Google owns a roughly 5 percent stake in SpaceX, and has explored the possibility of using SpaceX as a launch partner as Google seeks to put data centers in space, an effort known as Project Suncatcher. Kate Conger is a technology reporter based in San Francisco. She can be reached at [email protected]. The post SpaceX Has $30 Billion Deal to Provide Google With A.I. Computing Power appeared first on New York Times.
SpaceX enters $920M per month cloud service agreement with Google
According to a regulatory filing, on June 5, 2026, SpaceX (SPCX) said it entered into a Cloud Service Agreement with Google LLC (GOOGL) with respect to access to compute capacity. The compute capacity provided includes roughly 110,000 Nvidia (NVDA) GPUs, CPUs, memory, and other related components. Pursuant to the agreement, the customer has agreed to pay SpaceX $920M per month from October 2026 through June 2029, with capacity ramping up through September at a reduced fee. If the company fails to deliver access to the committed amount of GPUs by September 30, 2026, then following a one-month grace period, Google may immediately terminate the agreement or accept the number of GPUs provided, with a corresponding pro rata reduction in the monthly fees. After December 31, 2026, the agreement may be terminated by either party upon 90 days' notice. The customer will retain ownership of, and IP rights in, its content, AI models, and related data.
Salesforce's $5 Billion Anthropic Bet Is Bigger Than Most Investors Realize - Memeburn
Claude AI is now embedded directly inside Salesforce's CRM workflows, not offered as a separate tool Salesforce has officially committed $5 billion to the AI company Anthropic. By putting this powerful AI directly inside the tools businesses use every day, they are changing how companies handle their data. Here's what this move means for the future of business and what it signals for investors in 2026. What Actually Happened Salesforce did not acquire its $5 billion position in a single transaction. Instead, the company invested capital over several private funding rounds, beginning in 2023. This early move let Salesforce grab a significant stake, long before Anthropic's valuation climbed to where it is now. Anthropic was founded by former OpenAI researchers who prioritize building safe and reliable AI. Because of this focus, the company has become a top partner for large technology firms that need dependable AI for their business customers. In February 2026, Salesforce integrated Claude AI directly into its core software. While this initially caused a 4% jump in the stock price, investors remain cautious about whether it will lead to long-term success. By June 2026, Salesforce officially confirmed a total $5 billion investment in Anthropic, signaling that it is making this AI technology the foundation of its future business strategy. This move makes it clear that Salesforce is building its future entirely around Anthropic's AI technology. Why the CEO Says Investors Have It Wrong Salesforce's stock performance has been challenged in 2026. Fears that autonomous agents could independently handle customer interactions have led investors to worry that traditional CRM software may soon become redundant. Salesforce leadership has challenged this perspective. They argue that enterprise AI efficacy is inseparable from existing business systems. They contend that AI requires access to verified customer histories and internal business data to function reliably. In this view, Salesforce is not being replaced. Rather, it serves as the necessary environment for AI to operate with corporate-grade accuracy. The long-term hypothesis is that AI will enhance the utility of these platforms. This allows Salesforce to justify premium pricing as it automates complex, manual workflows. What This Means If You're an Enterprise Customer For enterprise buyers, this investment provides long-term stability. It proves that AI is a central part of Salesforce's future rather than just an experiment. By backing Anthropic, Salesforce ensures its tools stay modern and reliable. This protects your company from the risk of relying on outdated or unsupported software. For organizations, this integration changes how they get work done. Because AI is built directly into your CRM, employees can write drafts and analyze customer data without leaving their daily workspace. Everything happens where they already work, making tasks faster and much easier to manage. They can do this without navigating away from their primary tools. The advantage of this native approach is reduced friction in adoption. By utilizing existing infrastructure, firms may avoid the overhead of additional software licenses. They may also avoid separate security protocols. However, implementation is not without complexity. Enterprise buyers must still evaluate whether the output quality justifies the integration. Internal teams will need to manage the transition from manual processes to AI-assisted workflows. For management, the goal is to create a more unified environment. Success depends on how well these tools address specific business use cases. The Bigger Race for AI Partners Salesforce is navigating a competitive landscape. Tech giants are aggressively aligning with AI labs to bridge the "buy-versus-build" gap. Developing foundational models requires massive capital expenditure in compute and data engineering. This prompts companies to partner rather than build from scratch. This trend is visible across the industry: * Microsoft and OpenAI: A foundational partnership that integrated GPT models across the Azure and Office ecosystems. * Google and Gemini: A vertical integration strategy. Google develops its proprietary models to enhance its suite of business and productivity applications. * Salesforce and Anthropic: A focused partnership emphasizing safety and reliability. These qualities are often prioritized in enterprise procurement over the more experimental nature of some consumer-grade models. Software companies are investing in these labs to ensure their platforms remain competitive. AI integration is now a standard requirement for enterprise software buyers. The Numbers You Actually Need Salesforce's $5 billion investment serves as a strategic commitment to its long-term product vision. Valuation figures for private companies like Anthropic fluctuate based on deal timing. This level of investment indicates Salesforce's role as a major stakeholder in the AI ecosystem. Market sentiment toward Salesforce remains divided. Although the stock saw a 9,6% jump recently, it remains down overall for the year. This indicates that investors are interested in the AI vision. However, they are increasingly focused on seeing this strategy translate into tangible revenue growth and improved margins. What to Watch Next The ultimate success of this $5 billion bet rests on a few critical factors. First, Salesforce needs its customers to actually use the new AI features. If businesses don't turn them on or find them useful, the investment will not generate a return. Second, Salesforce must decide if it will keep pouring more money into Anthropic as the startup grows. Third, this AI strategy needs to be successful enough to improve Salesforce's stock performance, which has struggled lately. At the same time, Salesforce faces intense competition. Rivals like Microsoft, Oracle, and SAP are not standing still. They are all racing to build their own AI tools for businesses because this market is incredibly valuable. None of these companies are going to let Salesforce win without a fierce fight. Salesforce has made its big move. The real test now is whether it can turn this vision into actual profits.
SpaceX lands Google AI compute deal after Anthropic pact ahead of IPO
The pact brings another high-profile customer to SpaceX, after Anthropic, strengthening its AI narrative as it targets a $75 billion raise in its upcoming initial public offering. SpaceX said on Friday it has entered into a multi-year cloud services agreement with Alphabet's Google, locking in computing capacity as it prepares for its highly anticipated U.S. stock market debut next week. As part of the deal, Google will pay SpaceX $920 million monthly from October this year to June 2029, with capacity ramping up through September at a reduced fee, Elon Musk's space venture said in a regulatory filing. The compute capacity provided includes about 110,000 Nvidia GPUs, CPUs, memory and other related components. The pact brings another high-profile customer to SpaceX, after Anthropic, strengthening its AI narrative as it targets a $75 billion raise in its upcoming initial public offering. Anthropic said in May it had reached a deal to use the full computing power of SpaceX's Colossus 1 facility in Memphis, Tennessee, which houses more than 220,000 Nvidia processors and will give the Claude chatbot maker 300 megawatts of new capacity within a month. On an annual basis, SpaceX's compute access deals with Anthropic and Google are worth roughly $26 billion combined. SpaceX's disclosed compute-capacity agreements with Anthropic and Google are worth more than $70 billion in aggregate, assuming neither contract is terminated before its scheduled end date. If SpaceX does not provide access to the agreed number of GPUs by September 30, then, after a one-month grace period, "Google may immediately terminate the agreement or accept the number of GPUs provided, with a corresponding pro-rata reduction in the monthly fees," the company said. After December 31, either party may terminate the agreement by providing 90 days' notice. Google will retain ownership of, and all intellectual property rights in, its content, AI models and associated data.
SpaceX Has $30 Billion Deal to Provide Google With A.I. Computing Power
Elon Musk's rocket company said Google would pay it $920 million a month, as it prepared for its initial public offering. SpaceX revealed in a regulatory filing on Friday that Google will pay it $920 million a month for computing power, pumping billions of dollars into Elon Musk's rocket company as it prepares for a blockbuster initial public offering. The agreement, which starts in October and runs through June 2029, could earn SpaceX about $30 billion in total. It also helps establish SpaceX -- which owns Mr. Musk's artificial intelligence lab, xAI -- as a major infrastructure provider as companies compete in a fierce global race to dominate A.I. As part of the agreement, Google will gain access to about 110,000 A.I. chips from Nvidia, which Google said would help it meet larger-than-expected customer demand for its A.I. models. The tech giant said in April that its cloud business had contracts totaling $460 billion that had yet to be fulfilled as revenue, indicating enormous demand for its services. "Google Cloud and SpaceX are longtime partners," a Google Cloud spokesman said in a statement. "This is a short-term, timely agreement to ensure we have bridge capacity to meet surging customer demand for our agent platform, Gemini Enterprise, which has been even higher than we expected." SpaceX did not immediately respond to a request for comment. SpaceX reached a similar deal last month to provide Anthropic, another leading A.I. lab, with computing power. Anthropic, which is also expected to go public this year, is paying SpaceX $1.25 billion a month. SpaceX is expected to go public next week in a deal that could value the company at more than $1.7 trillion and make Mr. Musk a trillionaire. As part of that process, the company has shed more light on its financial details in recent weeks to entice investors. Mr. Musk has built a massive supercomputer in Memphis to power xAI. But the company has largely lagged behind competitors like OpenAI, Anthropic and Google. In the run-up to SpaceX's going public, Mr. Musk has increasingly leaned into A.I. He has promoted xAI's computing power as an asset, demonstrating that it can be turned into revenue through deals with Anthropic and Google. Mr. Musk has also announced details of a giant chip factory he's building in Texas. And in April, SpaceX announced a $60 billion deal to acquire the A.I. start-up Cursor, which makes a code-writing assistant. The deal with Google deepens ties between the search giant and the rocket maker. Google owns a roughly 5 percent stake in SpaceX, and has explored the possibility of using SpaceX as a launch partner as Google seeks to put data centers in space, an effort known as Project Suncatcher.
SpaceX and Anthropic are about to go public -- and your 401(k) may be forced to buy in
Two of the most valuable companies in history are about to go public, and because of their sheer size, they may fundamentally alter what sits inside millions of Americans' retirement accounts. With SpaceX's IPO also sparking index providers to change the rules on how stocks are added to major stock market indexes (like Nasdaq or the S&P 500), you may soon feel the effects of the IPO much faster than you would have otherwise. Index funds are usually the backbone of most 401(k)s, and because they're obligated to buy whatever is in the index, changing the rules may be the mechanism that forces one's exposure to a new IPO, such as SpaceX's, and eventually Anthropic's. But simply because SpaceX and Anthropic are so enormous at their debut (SpaceX at $1.77 trillion as of Wednesday and Anthropic expected at nearly $1 trillion), index providers can't necessarily leave them out. So they've shortened or even eliminated the seasoning period, meaning your 401(K) will reflect their presence in the stock market that much sooner. While market bulls eagerly await their opportunity to purchase stocks the second they become available, others warn that the safeguards were in place for a reason, and without them, there could be a serious threat to people's retirement nest eggs. "We put in place guardrails after the dot-com bubble for a reason," Elizabeth Wilkins, the President and CEO of the Roosevelt Institute the Roosevelt Institute, told Fortune. "Because we remembered that there's real downside risk to tying retiree savings to the fortunes of not only corporate America generally, but specifically the tech sector." A major IPO filing Anthropic, which confidentially filed its IPO prospectus with the SEC on Monday, was most recently valued at $965 billion following a $65 billion fundraising round in late May that even topped rival OpenAI. Elon Musk's SpaceX, meanwhile, launched its roadshow this week, at a valuation of $1.77 trillion, which would make it one of the most valuable companies on earth essentially overnight. Companies of that magnitude are impossible for index providers to ignore, which, in turn, recognizing they cannot afford to leave two near-trillion-dollar companies sitting on the sidelines, are already rewriting the rules to pull them in faster. Several major stock market index providers, including Nasdaq and FTSE Russell, have recently changed or adopted fast-entry rules that could allow companies like SpaceX to be added to major indexes much sooner than they typically would, after as few as five trading days under FTSE Russell's new standard, or 15 under Nasdaq's. Even S&P Dow Jones Indices has reportedly been weighing similar changes. The practical consequence is that the funds that track those indexes may be forced to buy shares in both companies shortly after their debuts, meaning ordinary retirement savers could end up with significant exposure to both whether they chose it or not.
Anthropic urges industry coordination to allow for a 'pause' in AI development if risks grow
Anthropic is proposing that the world's top artificial intelligence companies come up with a coordinated way to pause development of advanced AI systems, warning the technology is improving so quickly there's a risk humans would lose control. The company behind the Claude chatbot said in a blog post Thursday that as cutting-edge AI gets increasingly faster at carrying out tasks, "it would be good for the world to have the option to slow or temporarily pause" its development. Anthropic said its internal research institute plans to explore the issue in collaboration with others and "take actions" to help build the systems for a credible slowdown or pause, without being more specific. Anthropic rival OpenAI argued for a different approach in a report published Wednesday, saying that "democratic governments -- not private companies acting alone -- must ultimately determine the rules, safeguards, and accountability mechanisms." "Our view is that decisions about the pace of AI innovation should not be left to any one lab, company, or special interest group," it said. AI models are getting faster, with rapid increases in how quickly they can carry out software tasks like coding on their own, Anthropic said in its post. Based on current trends and given enough computing power, an AI system could be able to design and develop its own successor, in what is known as "recursive self-improvement." Self-building AI would be a major technological milestone that would bring benefits in science, healthcare and other areas, Anthropic said, but it "also might increase the risks of humans losing control over AI systems." Some tech industry figures have long warned of such a scenario. Anthropic's post comes after a different warning this week from a team of researchers at the University of Toronto who showed how AI tools could be used to create a new kind of AI "worm" that adapts its hacking strategy as it spreads from device to device and takes over a vast computing network. "I think it's really important that people understand that it's not just the biggest, most powerful language models that pose the security concerns," lead researcher Nicolas Papernot said in an interview. The authors of the Anthropic post, company co-founder Jack Clark and Marina Favaro, head of its research institute, said the pause would be used to enable "societal structures and alignment research" to keep up with AI advances. Alignment is industry shorthand for making sure the technology matches human values and intentions. The proposed coordination would let advanced AI labs verify that global rivals have actually stopped or slowed their work, "and that a bad actor could not use the auspices of a coordinated slowdown to jump ahead in secret." The company said a coordinated global mechanism is needed because without it a slowdown in AI development could let the "least cautious" players catch up and add to pressure on companies and governments as they make tough choices about AI safety. Anthropic's post comes as the company and ChatGPT-maker OpenAI race to sell shares on the stock market, in an IPO that could value Anthropic at nearly a trillion dollars. Papernot notified Canadian cybersecurity authorities prior to releasing his report, which shows how researchers developed the worm in a laboratory by using an "open-source" AI tool that is easy for software developers to cheaply access and modify. "In the past, cyber attackers would focus on targets that are very high value," he said. "Banking systems, hospitals, electricity grids, water treatment systems, schools." Papernot agreed that there should be more collaboration between companies, government agencies and academic researchers to develop countermeasures as AI-powered hacking tools supercharge the search for computer vulnerabilities. "That old laptop you have in your basement that you don't check on regularly doesn't seem like a very high-value target, but It can be used as a launch pad to attack these higher-value targets," he said. "Anything connected to the internet is now at risk because of how low the cost has become to mount these cyberattacks."
SpaceX IPO Tests The Elon Musk Premium As Long-Term Tesla (NASDAQ: TSLA) Holders Get Priority Access
Five years after Elon Musk pledged to give long-term Tesla, Inc. (NASDAQ: TSLA) shareholders priority access to a future space venture IPO, some investors are finally getting their shot. E*TRADE has informed qualifying clients of a supplemental allocation process for SpaceX's upcoming IPO, targeting investors who have held Tesla shares for at least 10 years. SpaceX plans to sell 555.6 million shares at $135 each, raising $75 billion and valuing the company at $1.77 trillion, with a fully diluted valuation potentially exceeding $1.8 trillion. The offering is scheduled to price on June 11, with shares expected to begin trading the following day, setting the stage for what could be the largest IPO in history. Investor demand has reportedly been exceptionally strong following a JPMorgan-hosted roadshow, where Musk outlined plans to expand Starlink to more than 100,000 satellites and build orbital AI infrastructure. Analysts involved in the roadshow have apparently been fielding 20 investor calls per day, well above the 10 to 15 calls typically seen for even highly sought-after IPOs. SpaceX's filing described a $28.5 trillion market opportunity spanning launch services, Starlink connectivity, direct-to-cell communications, and AI infrastructure, calling it the "largest actionable total addressable market in human history." Fidelity confirmed that SpaceX has reserved up to 30% of the IPO for retail investors, far above the 5% to 10% typically allocated in most high-profile listings, prompting Fidelity to lower eligibility requirements to customers with as little as $2,000 in a brokerage account. The generous retail allocation reflects commitments Musk made publicly as far back as 2020, when he wrote: "I'm a huge fan of small retail investors. Will make sure they get top priority [when SpaceX goes public]. You can hold me to it." In a separate 2021 post, Musk elaborated on the timeline and his intentions, writing: "At least a few years before Starlink revenue is reasonably predictable. Going public sooner than that would be very painful. Will do my best to give long-term Tesla shareholders preference." NYU professor Aswath Damodaran, known on Wall Street as the "Dean of Valuation," estimated SpaceX's equity value at between $1.25 trillion and $1.35 trillion, below the IPO valuation, calling the company "too richly priced" for his investment style. Damodaran acknowledged that momentum-driven traders may see things differently, writing: "I would not be surprised in the least to see the offering priced at $1.8 trillion, and see a jump in the price on the day of or in the weeks after the offering." His broader verdict placed the investment squarely in the camp of a personality-driven bet, stating: "There is no denying that this company is a loaded bet on the AI and Elon Musk," adding that some investors may look at "Musk's track record with Tesla and feel the odds are in their favor." A potential path to S&P 500 inclusion hit a wall this week after S&P Dow Jones Indices said it would make "no changes" to eligibility requirements following a consultation on newly listed megacap companies. The decision matters because SpaceX reported a $4.94 billion net loss in 2025, and S&P 500 rules require positive GAAP earnings in both the latest quarter and the trailing four quarters. Tesla influencer Alexandra Merz, who posts on X under the handle TeslaBoomerMama, suggested that S&P's decision may have handed Musk more control over the timeline, writing: "S&P will regret this. Now it's Elon deciding when SpaceX gets included, by merging with Tesla." Merz argued that a future stock-for-stock merger between SpaceX and Tesla could allow a combined entity to inherit Tesla's existing S&P 500 membership, though no such transaction has been proposed by either company. On Stocktwits, retail sentiment for TSLA has remained mostly bearish over the past six months, with message volumes declining more than 60% over the past year, even as the stock posted its best monthly performance since September 2025 in May. TSLA has fallen roughly 7% so far this year, making it the second-worst performer among its Magnificent Seven peers, leaving investors to weigh whether the SpaceX IPO can reignite enthusiasm for Musk's broader portfolio of companies.
SpaceX signs $30 billion AI deal with Google
Anthropic similarly agreed to pay Elon Musk's tech firm some $45 billion for compute capacity last month Google has agreed to pay SpaceX $920 million per month for AI compute capacity through June 2029, according to the space-tech behemoth's filing with the US Securities and Exchange Commission. The arrangement is worth almost $30 billion over the full period and covers the rental of "approximately 110,000 NVIDIA GPUs, CPUs, memory, and other related components," Business Insider reported on Friday. Google told the outlet that the contract is intended to meet demand for Gemini Enterprise, its agentic AI platform, and described SpaceX as a long-time Google Cloud partner. The agreement follows a similar contract with Anthropic in May. The maker of Claude AI confirmed it would pay SpaceX $1.25 billion per month for access to its data centers. Data Center Dynamics reported that Anthropic's contract runs until May 2029, putting the full value at roughly $45 billion over three years. SpaceX said in its filing that the contracts allow it to monetize unused compute capacity while keeping the option to reallocate capacity for internal use. The space company, which merged with Elon Musk's X and xAI in January, generated nearly $4.7 billion in revenue and lost almost $4.3 billion in the first quarter of 2026. The AI agreements have become a major selling point ahead of the company's highly anticipated $1.77 trillion public listing next week. The new partnerships between AI rivals come as the Pentagon has deepened ties with major tech suppliers after ostracizing Anthropic for publicly resisting its killer AI push. The US military reportedly used Anthropic's Claude during the operation to kidnap Venezuela's Nicolas Maduro. In Iran, Palantir software that relies heavily on Anthropic's AI workflows reportedly selected a girls' elementary school in Minab as a valid target, based on outdated, human-compiled maps. The US Department of War announced deals with SpaceX, OpenAI, Google, NVIDIA, Reflection, Microsoft, Amazon Web Services and Oracle on May 1 to deploy their AI systems for "lawful operational use." The systems are to be integrated into the US Department of War's classified Impact Level 6 and Impact Level 7 networks to "streamline data synthesis, elevate situational understanding, and augment warfighter decision-making in complex operational environments."
Anthropic calls for pause of global AI development
NEW YORK -- Artificial intelligence company Anthropic suggested Thursday a global pause on building the most powerful AI systems as the latest models are beginning to show signs they could escape human control. The San Francisco-based company, which makes the Claude family of AI models, said in a report that a worldwide slowdown in cutting-edge AI development would "likely be a good thing" -- but warned that if only one company stopped, rivals would simply race ahead. "We believe it would be good for the world to have the option to slow or temporarily pause frontier AI development to enable societal structures and alignment research to keep up with the advance of the technology," it said. Getting a real pause to work would mean multiple major AI companies in multiple countries -- most notably the U.S. and China -- all agreeing to stop at the same time, under rules everyone could actually verify, Anthropic said. "Without a global co-ordination mechanism, companies and governments will have to make difficult decisions about safety while under competitive and geopolitical pressures," it said. The company has faced pushback from others in the industry -- and officials in the White House -- who say its focus on worst-case scenarios overstates the risks and amounts to a strategy for slowing rivals under the cover of safety concerns. Still, the White House has acknowledged the power of the company's Mythos model -- which has not been made available to the general public due to its cybersecurity capabilities and is currently deployed only to a small number of vetted organizations. The proposal would face an uphill battle in Washington and Silicon Valley, where US officials and tech executives have repeatedly argued that any slowdown in AI development risks handing China a decisive strategic edge in what many see as the defining technology race of the century. U.S. President Donald Trump, however, said he discussed the possibility of co-operating with China on AI safety issues during his recent visit to Beijing. Trump also signed an executive order this week that allows the government 30 days to conduct a preliminary review of the most powerful U.S. AI models before their release. 'Human role narrowing' Anthropic compared the problem to nuclear arms control treaties -- but said it would be even harder to get a handle on, since AI training is far easier to hide than a missile silo, and the temptation to quietly keep going would be enormous. The company said it plans to bring together government officials, scientists, advocacy groups and competing AI firms in coming months to figure out how such a system could work. The call for co-ordination comes alongside internal data showing that AI is already dramatically speeding up the development of AI itself, Anthropic said. That acceleration creates a feedback loop that Anthropic warned could eventually lead to what researchers call "recursive self-improvement." That's the idea of an AI system that becomes capable of essentially teaching itself to get smarter, without much human help. "We are not there yet, and recursive self-improvement is not inevitable," the report said, while adding that it could arrive sooner than most governments and institutions are ready for. "The evidence suggests that the human role is narrowing at each step in the AI development process."
Can you buy SpaceX shares from UAE? Step-by-step guide for new investors
Each brokerage uses its own allocation process. According to Barron's: E-Trade allocates shares proportionally based on the size of a client's conditional offer. Robinhood uses a random selection process to determine recipients. SoFi considers factors such as account assets, direct deposits, prior participation in offerings and compliance with its IPO-flipping policy, which discourages investors from selling newly acquired IPO shares within the first 30 days.
