News & Updates
The latest news and updates from companies in the WLTH portfolio.
Every SpaceX Starlink satellite has to dodge a collision almost weekly, and experts fear the worst
"I think we're heading towards a situation where there will be a collision involving an operational satellite in the constellation." 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 manoeuvres 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," he 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. 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."
Canada regulator warns major banks on Anthropic AI cyber risks - report
Canada's federal banking watchdog alerted the country's financial institutions on risks tied to Anthropic's Claude Mythos and other advanced AI models, reported Reuters. According to the regulator, the technology could increase cyber threats and reduce the time available to detect and patch vulnerabilities. The Office of the Superintendent of Financial Institutions (OSFI) sent the message to chief technology officers, chief information security officers and chief risk officers across the financial sector, including large banks and insurers, according to documents Reuters obtained through an access-to-information request. Authorities in several jurisdictions are examining cybersecurity concerns linked to Anthropic's frontier AI model Mythos. The model has been described as highly capable of identifying and exploiting cybersecurity vulnerabilities, creating challenges for banks and their older technology systems. "Advanced artificial intelligence models, such as Anthropic Claude Mythos, significantly compress the timeframe for effective risk mitigation," OSFI said in an email. "Accordingly, this bulletin is grounded in our existing guidance and outlines sound practices that institutions can adopt to enhance the speed and effectiveness of risk identification, mitigation and response." Recognition of the risks associated with Mythos by OSFI may lead Canadian banks, insurers and other regulated institutions to put more resources into technology aimed at protecting clients from cyber threats, noted the news agency. In a statement to Reuters, the regulator said: "OSFI takes a technology‑neutral, risk‑focused approach to emerging technologies, including advanced artificial intelligence models such as Mythos. Our focus is not the technology itself, but how federally regulated financial institutions govern and manage the risks associated with its use." In early April, Canadian banking executives met regulators to discuss risks linked to Mythos, shortly after US Treasury Secretary Scott Bessent and then-Federal Reserve Chair Jerome Powell held an urgent meeting with bank chief executives to warn about cyber risks connected to Anthropic's latest AI model. OSFI sent the email to company executives in April. The cyber capabilities of some frontier AI systems are considered that access has been restricted, with currently excluded from Mythos. Three of Canada's big six banks, Royal Bank of Canada, TD Bank and BMO, have set out plans to make millions from AI investments as they moved from trial projects to uses such as chatbots, internal tools and reducing dependence on third-party tools.
SpaceX Engineers Raise $115 Million to Make Construction Faster, Cheaper and Safer After Learning At 'a C
TerraFirma Raises Funds For Robotic Construction TerraFirma, in a press release on Tuesday, said Kleiner Perkins led a $100 million Series A. CEO Noah Schochet and co-founder Noah McGuinness previously worked at SpaceX on Starship, Starshield and Starlink. The company remotely operates construction equipment through tools including Xbox controllers and says its semi-autonomous machinery can cut costs and improve safety. It plans to hire 300 workers and to build a Texas factory and mission control center. "Infrastructure is a bottleneck to basically every single industry that needs to innovate over the next couple of decades," Schochet told CNBC. "There's such a deficit of people taking all of the great tech that has existed and been built for the last couple of decades and bringing it" to construction. SpaceX Lessons Target Construction Productivity Gap The pitch targets a sector with a productivity problem. The Federal Reserve Bank of Richmond said U.S. construction labor productivity fell more than 30% from 1970 to 2020, while overall U.S. productivity doubled. The Bureau of Labor Statistics projects 149,400 annual openings for construction laborers and helpers through 2034. Schochet said SpaceX showed him what construction lacks. "We're building rockets the size of skyscrapers at one a month, and all those processes for mass manufacturing automation, none of them are showing up in construction," he said. "It was all worth it," Schochet said. "We were learning at a crazy pace." Earth Projects Come Before Lunar Ambitions For now, Schochet said TerraFirma must prove itself on Earth. "The problem is you don't want to build a community based around a space economy that doesn't yet exist," he said. "You want to build it around the economic drivers that truly drive the world today." Image via Shutterstock Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.
Anthropic Wants You To Know They Can Destroy Us All
Anthropic and its leader of catastrophe Dario Amodei just put out an ad that starts out telling people AI will take over your life, job, and even be a better caregiver than you. The second half tries to give hope with propaganda. It's idiotic. It doesn't appear to achieve what it is supposed to achieve. The ad is a bit insulting if they think it will convince us of anything other than AI will destroy us. The ad purports to ask the tough questions and then give us hope. The questions aren't tough, and it gives me no hope. It's basically the bird covered in oil after a spill, followed by a showing of the movie Airplane. Watch: Anthropic has 32 very scary job openings for roles designed to prevent people from using AI to build everything from homemade explosives to nuclear weapons, Axios' Madison Mills and Maria Curi write. We are all going to die thanks to AI. Lunatics like this will be able to build nuclear weapons:
Is SpaceX Planning to Make a Smartphone to Rival the iPhone?
Space Exploration Technologies (NASDAQ: SPCX), also known as just SpaceX, is a company that could disrupt many different industries, including space travel and telecom. But one that investors may not have considered is the smartphone market. While its Starlink service offers mobile internet for smartphones, CEO Elon Musk has also hinted that entering the smartphone market may be a possibility. Image source: Getty Images. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the stocks " The company reportedly has a prototype for a device that's similar to an iPhone According to a recent report from the Wall Street Journal, SpaceX has been working on a device that has a slimmer design than Apple's iPhone. While it's designed to help people interact with artificial intelligence (AI), its capabilities could certainly extend beyond that, as it's expected to use a Snapdragon chipset from Qualcomm. The device is nowhere near launching, and there is no certainty that it will even come to market. But with Musk being critical of Apple's restrictive app store policies, it also wouldn't be surprising if he were to want to bring his own smartphone or similar device to market, one that could rival Apple's popular devices. He has suggested in the past that while he isn't thrilled with the idea of doing so, he may feel compelled. "The idea of making a phone makes me want to die. But if we have to make a phone, we will. But we will aspire not to make a phone." Is SpaceX the ultimate growth stock to own? One of the most compelling reasons to invest in SpaceX despite its high valuation is that it has some tremendous growth opportunities. Not only can its reusable rockets revolutionize space travel, but its Starlink business could make it a big player in the telecom sector. And its biggest opportunities are in artificial intelligence (AI), with the company planning to put data centers into space. SpaceX arguably already has too many places to spend and invest in as it is. A smartphone may be a possibility down the road, but I wouldn't expect that to be a focus for the business at this stage. SpaceX has already been incurring billions in losses, and investing in too many different areas at once could prove to be costly and risky. While making risky investments can work for large tech companies with massive resources and strong financials, that strategy may not be as sound for a company such as SpaceX, which still needs to find its way out of the red. SpaceX may be an exciting stock to own, but it's also a highly risky one, and there are arguably far better growth stocks out there for investors that offer a better mix of growth and safety. Should you buy stock in Space Exploration Technologies right now? Before you buy stock in Space Exploration Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Space Exploration Technologies wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $398,160!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,249,202!* Now, it's worth noting Stock Advisor's total average return is 918% -- a market-crushing outperformance compared to 209% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks " *Stock Advisor returns as of July 15, 2026. David Jagielski, CPA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple and Qualcomm. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The 179 ETFs That Own SpaceX
This article mentions funds that have an issuer-initiated rating and/or track a Morningstar Index. For full disclosure information, please refer to the specific funds, which are demarcated with a * symbol, listed below. Space Exploration Technologies Corp. SPCX made its public market debut on June 12 to much fanfare. There was more demand than shares available, helping the stock open $15 higher than its $135 IPO price and end its first day as a public company above $160. It quickly rose to a high of $225 on June 16, then fell back to earth, dipping near its IPO price the week of July 13. Hundreds of exchange-traded funds and mutual funds bought shares of Elon Musk's space and artificial intelligence company for the first time amid these fluctuations. SpaceX is now the cornerstone of a few ETF portfolios and a satellite position in many others. Some ETFs that own the stock might surprise you. While space-themed, technology sector, or growth ETFs are expected landing places for the $2 trillion company, it also found its way into several value ETFs, one quality ETF, a Jewish advocacy ETF, and numerous broad market index ETFs. In total, US ETFs own around $16 billion worth of the stock across 179 products. Here are the categories where those owners are concentrated. Expected Buyers of SpaceX Two ETFs account for almost half of that $16 billion. Invesco QQQ Trust QQQ and its cheaper sibling, Invesco Nasdaq 100 ETF QQQM, held a 1.21% stake in SpaceX on July 10. That amounts to over 48 million shares worth over $7 billion. As one of the largest stocks listed on the Nasdaq exchange, it makes sense for these Nasdaq-100 tracking index ETFs to own sizable positions. How they got that weighting, however, is another story, which is covered in more detail here and touched on later. Other ETFs like ARK Innovation ETF ARKK and Baron First Principles ETF RONB own sizable chunks. The managers of these active ETFs prize innovative companies, and the inclusion of SpaceX in their lineups was mostly a foregone conclusion. In fact, Baron Funds owned SpaceX in Baron First Principles ETF and other funds before it was a public company. Elsewhere, SpaceX stock makes appearances in several ETFs covering themes from space to artificial intelligence to innovative technology. It makes the cut in a number of growth-oriented ETFs and a handful of options income ETFs, too. Across all 179, Baron First Principles ETF carries the highest weighting at over 30%, as of July 10. Unexpected Buyers of SpaceX Companies like SpaceX test the rules of portfolio construction. And sometimes those rules don't yield the portfolio you'd expect. Recently, Micron MU unexpectedly became a 25% position in a value ETF, for example. SpaceX also found its way into several value ETFs. The stock claims small positions in each, but its presence is surprising, given concerns with the stock's lofty market cap relative to its total sales and negative net earnings. Negative earnings do funny things to price ratios commonly used by index funds to distinguish value stocks from growth stocks. Indexes usually employ several measures of value to avoid one outlier from bringing an otherwise growth stock into a value index, and vice versa. SpaceX seems to have slipped through some cracks. Stocks without a clear style distinction can be partially allocated between both the Russell 1000 Value and Growth indexes. As a brand-new public company, the stock doesn't have enough data to be firmly categorized as growth or value yet, so it lands near the midpoint for now. IShares Russell 1000 Growth ETF IWF holds a 0.22% stake. Schwab US Large-Cap Value ETF SCHV is a little different. Unlike most, the Dow Jones index it tracks uses a stock's price/earnings ratio as a component in its value scoring system. SpaceX's negative earnings skews its P/E ratio far to the value side of the board, likely resulting in its inclusion here. Other index families use the inverse, earnings/price, to sidestep this peculiarity. As an actively managed ETF, Fidelity Enhanced Large Cap Value ETF FELV doesn't have to adhere to an index's binary rules. If its managers don't think a stock belongs in the Russell 1000 Value Index, they can remove it. Fidelity's managers haven't yet removed SpaceX from its value portfolio. How Big Is SpaceX in Major Indexes? Even a small position in SpaceX means a large stake in the largest index funds. Vanguard Total Stock Market ETF's VTI total fund size of nearly $2.3 trillion means that it owns over $3.2 billion worth of SpaceX shares despite its 0.14% weighting at the end of June. In total, US index ETFs hold roughly 14% of SpaceX's outstanding free-float shares, or $13.3 billion of $93.6 billion free float. Several major broad market indexes tweaked their rules earlier this year to allow SpaceX early entry. Much ink has been spilled on the purpose and validity of these changes (including from me), but now that the dust has settled, SpaceX is a component in 82 broad market index ETFs. Still, the stock carries a very small position in most and no weight in a couple of notable bogies. Nasdaq's relatively narrow portfolio and unique weighting scheme give the stock much more attention than other widely followed index ETFs.
SpaceX bond yields rocket towards junk
We're old enough to remember when the market cap of the lossmaking telecom SpaceX was bigger than Amazon's. Heck, for a few precious moments it was bigger than Microsoft's. Maybe one day it will be again, but for now the stock is down 38 per cent from its peak post-IPO valuation. Punters lucky enough to have been awarded a stock allocation at the outset are still sitting on a tasty [checks notes] 0.8 per cent paper profit at pixel time. But what about the bondholders? Given heavy issuance by hyperscalers, SpaceX's 2056 bonds were priced with a fairly hefty 175 basis points of additional yield over similar maturity US Treasuries. Sure, this was less than the 200 basis point initial price talk, but as we learnt in Alphaville's debt capital market boot camp, trailing a tasty IPT to lure punters into the deal and then reining it back in as the book builds is totally normal. And as we've already covered, the full $25bn of benchmark bonds -- issued across the curve -- had a rocky first couple of days of trading. Checking back today, it turns out that the inauspicious beginning was just a prelude to the train wreck that has since unfolded. If you'd been allocated $100mn of the SpaceX 2056 bonds, you've turned $100mn into $90.7mn in less than a month. Sure, long-dated US Treasury bonds have fallen in value, and this general sell-off at the long end has done some of the work. But the spread on SpaceX 2056 -- the additional yield you're paid to compensate you for the risk that you don't get repaid (among other things) has now widened from the initial +175bps to a whopping +231bps doing more than two-thirds of the work. For the non-bond-geeks, this is a lot of spread widening. Looking only at the nine days since the bonds were included in ICE BofA indices at the end of June, this spread-widening has made SpaceX 2056 the single worst-performing US dollar triple-B benchmark bond: Again, for the non-bond-geeks, there are a lot of benchmark triple-B corporate bonds. Of the 5,543 bonds in the ICE BofA triple-B US dollar corporate bond index, 1,450 have at least $1bn face value. That said, as the chart shows, Oracle bonds are giving SpaceX bonds a run for their money. When we pulled up the chart showing where the entire universe of triple-B US dollar corporate bonds are valued, it increasingly looks like the market is pricing SpaceX and Oracle in line with one another. And when we overlay the average spread for double-B US dollar corporate bonds across different maturities (the pink line), it looks a lot like the type of risk that the market has assigned to both SpaceX and Oracle bonds is junk risk. As long as Oracle and SpaceX don't go bust, these higher yield premiums should turn into higher annualised returns in the future. And this should be of some comfort to hold-to-maturity bondholders who'd prefer not to look at such short-term performance measures. But for the companies and their stockholders -- given that analysts had the companies down to tap bond markets as the main source of external finance for years to come -- the shift will be an unwelcome one. Still, there are always banks and private credit funds. Oh.
Polymarket Faces 15-Day Deadline as Czech Republic Mandates ISP Blockade
* Czech authorities mandate complete ISP-level blockade of Polymarket within two-week timeframe. * Prediction market platform added to national registry of prohibited gambling operations. * Ministry of Finance determines platform operates without required gaming licenses. * European regulatory restrictions against Polymarket continue accelerating across continent. * Czech enforcement action adds to mounting international pressure on decentralized betting platforms. Czech authorities have designated Polymarket as an unauthorized gambling operation and mandated that all internet providers terminate access within a 15-day window. This administrative action officially lists the platform among prohibited online gaming services. The enforcement measure represents another escalation in Europe's widening regulatory offensive against prediction market operators. Ministry designates prediction platform as unlicensed betting operation On July 13, the Czech Ministry of Finance formally included Polymarket in its registry of banned internet gaming services. Internet service providers now face a mandatory 15-day deadline to implement access restrictions. Ministry officials determined the platform lacks necessary authorizations mandated by Czech gambling legislation. Regulators concluded that prediction markets constitute gambling activities regardless of financial terminology employed. Officials contended that terminology referencing contracts and investment yields merely disguises betting operations. This determination led authorities to enforce existing gambling statutes against the platform. Government representatives emphasized that uniform regulation safeguards users and enhances market supervision. They further asserted that all operators must satisfy identical legal requirements irrespective of marketing language. This enforcement action aligns with the nation's comprehensive campaign against unlicensed internet gambling providers. Continental crackdown intensifies against decentralized prediction services The Czech Republic becomes the latest European nation to impose restrictions on Polymarket's operations. France, Germany, Belgium, Spain, Romania, and the Netherlands have previously enacted comparable prohibitions. Platform accessibility across prominent European territories continues diminishing substantially. Beyond European borders, regulatory bodies in Australia, New Zealand, and Brazil have implemented parallel enforcement measures. These governments have scrutinized whether blockchain-based prediction platforms satisfy domestic gambling and securities regulations. Regulatory challenges across diverse territories continue mounting steadily. Numerous authorities have expressed concerns regarding user protection, anti-money laundering protocols, and market transparency. Regulators have specifically identified the lack of conventional licensing procedures and mandatory identity verification systems. Decentralized prediction platforms consequently encounter escalating legal challenges internationally. Gibraltar establishes alternative regulatory framework Contrasting with numerous European restrictive measures, Gibraltar has developed a distinct framework addressing prediction markets. The jurisdiction recently established specialized regulatory protocols for this sector. Gibraltar explicitly differentiated prediction markets from conventional gambling services and securities instruments. This regulatory structure emerged following license grants to prediction market operators ADI Predictstreet and Wire Market. United States authorities regulate comparable platforms under Commodity Futures Trading Commission oversight. These divergent regulatory strategies demonstrate inconsistent jurisdictional treatment of prediction market operations. Polymarket executes contract settlements utilizing USDC stablecoin through blockchain-integrated smart contracts rather than conventional gambling infrastructure. Czech officials maintain the platform's technical architecture does not alter the fundamental nature of activities conducted. Polymarket confronts yet another national prohibition as European regulators persistently enforce gambling legislation against decentralized prediction market platforms.
Anthropic Deepens India Push With Local Claude AI Pricing The Mainstream
By introducing India-specific subscription plans for Claude, the AI startup is reinforcing its commitment to one of the world's fastest-growing markets for generative AI adoption. Anthropic has introduced local pricing for its Claude AI subscriptions in India, allowing users to access premium plans in rupees rather than through international billing. The move covers its Pro, Max and Team offerings and is aimed at making the platform more accessible to Indian users, ranging from individual developers and students to enterprises increasingly experimenting with generative AI tools. The announcement reflects India's growing strategic importance in the global AI landscape. With one of the world's largest developer communities, a rapidly digitising economy and rising enterprise adoption of artificial intelligence, India has become a critical growth market for global AI companies seeking to expand beyond North America and Europe. Anthropic's latest move also highlights how competition in the generative AI market is evolving. The race is no longer solely about building the most advanced models; it is increasingly centred on ecosystem development, developer engagement and market-specific strategies. For India, the development further cements its position as a major centre of AI demand and innovation. Anthropic's India pricing initiative is therefore more than a commercial update. It is another indication that India is emerging as one of the most influential markets shaping the future of the global AI economy. Also read: Viksit Workforce for a Viksit Bharat Do Follow: The Mainstream LinkedIn | The Mainstream Facebook | The Mainstream Youtube | The Mainstream Twitter About us: The Mainstream is a premier platform delivering the latest updates and informed perspectives across the technology business and cyber landscape. Built on research-driven, thought leadership and original intellectual property, The Mainstream also curates summits & conferences that convene decision makers to explore how technology reshapes industries and leadership. With a growing presence in India and globally across the Middle East, Africa, ASEAN, the USA, the UK and Australia, The Mainstream carries a vision to bring the latest happenings and insights to 8.2 billion people and to place technology at the centre of conversation for leaders navigating the future.
Studio Studios Is The Hair Salon Where Textured Cuts Meet Unconventional Colours
The quickest way to spot someone who's been to Studio Studios? Their hair. The appointment-only Shoreditch salon has quietly become responsible for some of London's most enviable cuts and colours, counting Gabbriette, Lola Young, Romy Madley Croft, Ellie Rowsell and Arlo Parks among its clientele. Tucked just a hop, skip and a jump from Shoreditch High Street station, it's the sort of place that's become a word-of-mouth fixture among fashion people, musicians, artists and anyone who's ever screenshotted a dip dyed fringe from Pinterest. Founded in 2023 by Canadian hairstylist Jadah Dale, Studio Studios expanded into a second space next door last month. While the original studio feels like an impossibly chic living room where white brick walls meet black leather chairs, glossy basins, tiled floors and brown marble side tables, the new space takes things in a lighter direction. "Our original space has the warmth of a welcoming living room, and that same atmosphere carries through the expansion with our plush chocolate-brown chairs, our scented candles, fresh flowers and beautifully considered lighting," says the founder. Malin + Goetz candles burn away while a framed Death Becomes Her poster hangs on the wall with just the right amount of self-awareness. It's cool without trying too hard - much like the people sitting in the chairs. "For us, growth isn't about opening salons as quickly as possible. It's about growing the right way - building a community of incredible stylists and loyal clients, and continuing to be a creative home for people working in music, culture and the arts. If we keep doing that well, everything else follows," says Dale. She adds, "While the new studio feels lighter, airier and more spacious, we've been careful to preserve everything that makes Studio Studios feel like home... We wanted the new space to feel like a natural extension of the original: elevated, comfortable and unmistakably Studio Studios."
Is SpaceX Planning to Make a Smartphone to Rival the iPhone?
Space Exploration Technologies (NASDAQ: SPCX), also known as just SpaceX, is a company that could disrupt many different industries, including space travel and telecom. But one that investors may not have considered is the smartphone market. While its Starlink service offers mobile internet for smartphones, CEO Elon Musk has also hinted that entering the smartphone market may be a possibility. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue " The company reportedly has a prototype for a device that's similar to an iPhone According to a recent report from the Wall Street Journal, SpaceX has been working on a device that has a slimmer design than Apple's iPhone. While it's designed to help people interact with artificial intelligence (AI), its capabilities could certainly extend beyond that, as it's expected to use a Snapdragon chipset from Qualcomm. The device is nowhere near launching, and there is no certainty that it will even come to market. But with Musk being critical of Apple's restrictive app store policies, it also wouldn't be surprising if he were to want to bring his own smartphone or similar device to market, one that could rival Apple's popular devices. He has suggested in the past that while he isn't thrilled with the idea of doing so, he may feel compelled. "The idea of making a phone makes me want to die. But if we have to make a phone, we will. But we will aspire not to make a phone." Is SpaceX the ultimate growth stock to own? One of the most compelling reasons to invest in SpaceX despite its high valuation is that it has some tremendous growth opportunities. Not only can its reusable rockets revolutionize space travel, but its Starlink business could make it a big player in the telecom sector. And its biggest opportunities are in artificial intelligence (AI), with the company planning to put data centers into space. SpaceX arguably already has too many places to spend and invest in as it is. A smartphone may be a possibility down the road, but I wouldn't expect that to be a focus for the business at this stage. SpaceX has already been incurring billions in losses, and investing in too many different areas at once could prove to be costly and risky. While making risky investments can work for large tech companies with massive resources and strong financials, that strategy may not be as sound for a company such as SpaceX, which still needs to find its way out of the red.
Pollution from Musk's unpermitted xAI power project hits hardest in Black communities
The findings illustrate how electricity demand from AI data centers is driving companies to build power plants without enough environmental oversight in the US Elon Musk's artificial intelligence company xAI has installed 59 natural gas turbines for its Colossus 2 data center project in Tennessee without securing federal clean air permits, according to communications between regulators and xAI representatives. Potential emissions from the turbines are far beyond the threshold that would require a federal permit, and would be released near predominantly Black communities already estimated to be suffering disproportionately high rates of lung disease, according to a Reuters analysis based on government data and information in the correspondence with regulators. The findings, which have not been previously reported, reflect how exploding electricity demand from AI data centers is driving companies to build off-grid power plants at a pace outstripping environmental oversight, with potentially big risks to public health. The number of unpermitted turbines identified by Reuters is about double what xAI has publicly acknowledged. The company previously said it was running 27 unpermitted turbines for Colossus 2 as of January and has argued the permits are not required. At least 57 of the 59 turbines are located in Mississippi, just over the state line from Tennessee where the data center is located. The xAI turbines are among scores of off-grid power plants for data centers proposed or under construction around the country. Local authorities often fast-track approvals in just weeks or months, without the years of environmental studies and public hearings typically required for such power generation projects that connect to the grid, Reuters has reported. Mississippi regulators in March issued a permit for permanent turbines for Colossus 2, allowing construction of 41 gas-fired turbines. The approval came three weeks after the state's only public hearing on the project. The xAI cluster of temporary turbines in Mississippi is already among the biggest off-grid data center power projects, according to Ben King, an analyst with think tank Rhodium Group, who reviewed the Reuters analysis. "This looks to be an unprecedented level of behind-the-meter gas being installed in one place," he said, referring to off-grid natural gas plants serving just one customer. The communications reviewed by Reuters show xAI, now owned by trillionaire Musk's SpaceX SPCX.O, has installed 57 off-grid turbines in Southaven, Mississippi, just across the state line from its Colossus 2 data center in Memphis, a facility supporting the Grok chatbot and other AI systems. The records show the company has also installed two other unpermitted turbines for the project on a different site. Reuters could not determine the location. The communications, obtained through a Reuters public records request, included emails between Trinity Consultants, representing xAI and subsidiary MZX Tech, and the Mississippi Department of Environmental Quality (MDEQ). xAI did not respond to Reuters' request for comment. xAI's turbines are part of a widening environmental justice battle over whether the AI boom is adding disproportionate pollution burdens to communities of color. Civil rights groups including the NAACP and the Southern Environmental Law Center sued xAI in April to halt their operations, arguing the turbines produce emissions subject to the federal Clean Air Act and shouldn't be operated without permits. They contend the turbines are polluting homes, schools and churches in historically Black communities. "The scale of it is astonishing," said Patrick Anderson, an attorney with the Southern Environmental Law Center. "This is an absolutely huge Clean Air Act violation that threatens public health." Securing a Clean Air Act permit would have exposed xAI's project to extensive review and public comment, potentially taking years. Mississippi environmental regulators and xAI have argued in court filings that the turbines are exempt because they are "mobile" and intended to operate onsite for less than a year. "MDEQ has determined that portable/temporary turbines do not require an air permit," the agency said in a statement to Reuters. The US Environmental Protection Agency said in January 2026 that even temporary turbines exceeding emissions thresholds must obtain permits. The agency, however, told Reuters it's considering changes allowing "regulatory flexibilities" for portable units while continuing to protect public health. xAI, the MDEQ and the EPA did not answer questions from Reuters about pollution impacts on communities of color from power generation to serve data centers. The US Justice Department weighed in on the lawsuit in a June 15 filing, saying that restricting the turbines could threaten national security interests because xAI's systems support US military operations, including operations involving Iran. The outcome of the lawsuit filed by civil rights groups could help define how environmental laws apply to the fast-growing AI sector, where companies are scrambling to bring power supplies online to support energy-intensive computing. "This sets up scenarios where the government can create sacrifice zones and tell communities they have to breathe illegal air pollution," said Mary Rock, a senior attorney for Earthjustice which is representing the NAACP and SELC. The dispute echoes the findings of a 2022 study by researchers from UCLA and Columbia University and published in the Nature Energy journal that found that previously redlined communities -- where banks historically discriminated against Black mortgage applicants -- now face disproportionately high exposure to pollutants from fossil fuel facilities. "Air pollution from these and other sources contributes to systemic racial disparities in chronic disease and ultimately shorter lives," Lara Cushing, a UCLA public health professor who co-authored the study, told Reuters. Big emissions The emails reviewed by Reuters included the manufacturer emissions profiles for 32 of the 59 turbines, including 30 at the Southaven site. A Reuters analysis based on that information found that those 30 turbines alone could emit nearly 2,500 short tons of nitrogen oxide, 4,000 short tons of carbon monoxide and 22 short tons of formaldehyde annually, assuming they operate continuously at 80% of capacity. According to the EPA, gas turbines are typically operated at loads of 80% or more to achieve efficiency. Nitrogen oxides contribute to smog and respiratory inflammation, according to the American Lung Association. Carbon monoxide deprives the body of oxygen, and formaldehyde is a carcinogen. The xAI site's potential emissions far exceed a Clean Air Act threshold that requires permitting for facilities capable of more than 100 short tons annually of pollutants such as nitrogen oxide. "This is a massive amount of turbines and an unfathomable amount of air pollution," Southaven resident Shannon Samsa said in an interview. "It's not a hypothetical," she said, "that air pollution is bad for you." The nitrogen oxide emissions calculated by Reuters for about half the plant's turbines would put the facility "up there with some of the heaviest polluting natural gas power plants across the entire country," said Nicholas Mailloux, a postdoctoral researcher at the University of Wisconsin-Madison who studies air quality and health benefits of the clean-energy transition. He said the facility would be on par with the top 25 US gas plants for nitrogen oxide emissions, citing EPA data for actual emissions. The people affected In the Colonial Hills neighborhood of Southaven, the turbines serving Colossus 2 can be heard around the clock, often firing off noisy bursts that residents compare to jet engines. Ervin Laws, a Colonial Hills resident in his 20s, said the noise wakes him up at night. "I can't do anything about it, because he's got more money than me," he said, referring to Musk. The turbines were installed in communities already estimated to be facing relatively high respiratory disease burdens, according to a Reuters analysis of CDC data. In 27 of 28 census tracts within five miles of the site -- spanning both Mississippi and Tennessee -- the estimated asthma rates were higher than their respective countywide figures. In 24 tracts, chronic obstructive pulmonary disease rates were also higher. Five miles is a distance commonly used in environmental health research to capture populations likely to be exposed to air pollution from a stationary source. A separate Reuters analysis of Census Bureau data found that the residents living near the facility are disproportionately Black. Because the five-mile radius crosses state lines, Reuters compared each side against its own county baseline. Within five miles of the facility in DeSoto county, Mississippi -- where the turbines are located -- about 46% of residents are Black, compared with 33% countywide, according to census data. Across the state line in Tennessee, where residents have no say in Mississippi's permitting process, about 94% of residents within five miles of the facility are Black, compared to 52% in surrounding Shelby County. Jayajit Chakraborty, a professor at the University of California, Santa Barbara, said the Reuters analysis was consistent with research that shows communities of color face higher exposure to fossil fuel pollution. Shelby County and portions of DeSoto County have also previously failed to meet federal ozone standards and remain subject to EPA-approved plans to ensure they do not slip back into violation, according to regulatory documents. Nitrogen oxide is a key precursor to ozone formation, which the EPA says can harm respiratory health. "Given this community struggles with high asthma rates, additional NOx exposure at such high rates could exacerbate public health issues in a community that is already seeing more than its fair share of exposure to toxic air pollution," said Victoria Nelson, an independent environmental engineer, formerly at EPA. Sarah Gladney, 72, has watched the rapid expansion of xAI's Memphis-area presence from her home in the historically Black neighborhood of Boxtown, a few miles from where the company built its Colossus 1 data center in 2024. "Once they got their foot in the door in Memphis, I feel like it's going to be a continuous movement of xAI into these other communities," she said. "It's all about the money, and it's not about the health or wellness of the people that live in or near these communities." - Rappler.com
Anthropic hires ex-BHSI exec Shokrai to lead business risk and insurance | The Insurer
Anthropic has appointed former Berkshire Hathaway executive Monica Shokrai as head of business risk and insurance, she said on LinkedIn on Tuesday. Shokrai said she would strengthen Anthropic's risk management in support of "safe, responsible and cutting-edge AI research", partnering with the broader insurance industry to shape the future of AI-centred coverage. Shokrai has worked with insurers and brokers including Berkshire Hathaway and WTW. She also oversaw Google's insurance segment for almost eight years. In June, Anthropic said would expand its Project Glasswing initiative to a further 150 organizations, quadrupling access to its Claude Mythos Preview AI model, which had previously been available only to an initial cohort of roughly 50 partners.
SpaceX Starship Flight 13 launch updates: Starship undergoing preparations to launch tomorrow
Even if you can't see SpaceX's Starship in person, you can score a model of your own. Standing at 13.77 inches (35 cm), this is a 1:375 ratio of SpaceX's Starship as a desktop model. The materials here are alloy steel and it weighs just 225g. Starship's next big test launch is just a day away. SpaceX has transported Booster 20, the Super Heavy first stage for the massive launch vehicle, back to pad 2 at the company's Starbase facility in Texas. If all goes according to plan, that will be its last relocation before launch, currently scheduled for tomorrow (July 15) during a 90-minute launch window beginning at 6:45 p.m. EDT (2245 GMT). Ship 40, Starship's upper stage for Flight 13, will be trasnported to the pad today, and stacked on Super Heavy for a full wet dress rehearsal to confirm the vehicle's readiness ahead of tomorrow's launch attempt. What time is SpaceX's Starship Flight 13 launch on July 16? (Full mission timeline) Following a static fire engine test last Friday (July 10), SpaceX has lowered the Flight 13 Super Heavy, Booster 20, from the launch stand and transported the stage back to its hangar at the company's Starbase, Texas, facility. The booster will roll back to the pad in the next day or so, along with Ship 40, the Flight 13 Starship upper stage. The pair will be stacked a Starbase's pad 2, where it's expected the rocket will undergo at least one additional engine test prior to launch. SpaceX is still targeting July 16 for liftoff of Starship's 13th test flight, scheduled to get off the ground during a 90-minute window that opens at 6:45 p.m. EDT (2245 GMT). Read how this launch will deploy SpaceX's first batch up upgraded Starlink Version 3 satellites into space. How to watch SpaceX launch Starship Flight 13 on July 16 The next Starship launch has arrived! SpaceX is targeting no earlier than July 16 for the next launch of its massive Starship rocket, the company announced on in a post on X. Flight 13 will be the second launch of the vehicle's Version 3 configuration and will be similar in profile to Flight 12. It will be the second launch for Starship "Version 3" (V3), a bigger, more powerful upgrade from previous Starship designs, and will come a little less than two months after V3's debut. A 90-minute launch window will begin on Thursday at 6:45 p.m. EDT (2245 GMT). A livestream of the mission will begin about 30 minutes prior to liftoff and stream on the company's mission page, profile on X and here on Space.com. Full story: SpaceX targets July 16 for Starship Flight 13, reveals what went wrong on previous launch
SpaceX reportedly shows prototype of smartphone to investors as IPO looms
Elon Musk denied the Wall Street Journal report, calling it 'utterly false,' but the implications for telecom and tech markets are hard to ignore The Wall Street Journal reported on July 1, 2026, that SpaceX showed a prototype of a slim, AI-driven device to select investors. The device was described as thinner than an iPhone, powered by a Qualcomm Snapdragon chipset, and deeply integrated with xAI technology. Elon Musk immediately denied it, taking to X to call the report "utterly false." What we know about the device According to the WSJ report, the prototype was presented to institutional investors and stakeholders as part of SpaceX's capital-raising efforts ahead of its anticipated IPO. The company has been preparing to go public, with its offering projected for June 2026. Musk denied SpaceX was developing a phone as recently as February 2026. That's barely four months before the company allegedly showed one to investors. The Starlink connection SpaceX's Starlink Direct to Cell initiative has been forging partnerships with telecommunications firms, positioning satellite-based mobile service as a complement to traditional cell towers. One of the most notable moves in this space has been a spectrum deal with EchoStar valued at $1 billion. Why crypto markets should pay attention There's no evidence linking this prototype to any cryptocurrency or blockchain technology. No wallet integration, no token, no decentralized anything. The research is clear on this point. The SpaceX IPO itself is a gravitational event for capital allocation. When one of the most anticipated public offerings in history hits the market, it pulls institutional money from other asset classes. Crypto has historically felt the effects of major tech IPOs as portfolio managers rebalance. Starlink reaching underserved populations with a low-cost, AI-powered device could expand the addressable market for mobile-first crypto products in regions where traditional telecom infrastructure has lagged.
Anthropic Said Nothing About the Vendor That Mattered
Evidence-first essays on policy and society across regions. We follow money, rules, and outcomes -- and name the trade-offs. TECHNOLOGY & AI · The three weeks between a breach nobody discussed and a model nobody was supposed to reach Anthropic said nothing when its training-data contractor lost forty thousand people's passports to a hacking group. Three weeks later, it built a model it called too dangerous to release -- and lost control of it on launch day. The silence and the breach are not the same incident. They are the same shape. In March, Mercor -- the staffing firm that recruits, vets, and pays the human experts who train frontier models for OpenAI, Anthropic, and Meta -- was hit by a supply-chain attack that began in an open-source security scanner, jumped to a widely used AI gateway library called LiteLLM, and ended with attackers inside Mercor's systems. The mechanism was almost embarrassingly simple: a tainted update to a Python package that millions of developers trust by default, executing automatically the moment it was installed, harvesting whatever API keys and credentials it found and handing...
Strange New Ad By Anthropic Implies That AI Might End Us All, But... [Watch]
American AI company, Anthropic, is one of the leaders in the artificial intelligence movement (and one of the most valuable). And they have just released ad advert that is, to say the least, ominous. This is despite putting on its most concerned face so it can convince you they're the good guys in the industry. The commercial was released last week, and it took an unorthodox approach to promoting its technology. Instead of going the expected optimism route, it starts with a series of bleak images as we hear voiceovers from different speakers ask some really hard-hitting questions about AI. In fact, you might at first think that you are actually watching a PSA. It starts with a house on fire, then someone asks, "Can AI be trusted?" as footage that looks like surveillance with an AI algorithm scanning the faces of everyone in a crowd appears. Right after this is the most striking sequence. Another voice says, "Who's going to hit the brakes if we need to?" as it cuts to footage of a cemetery lined with hundreds of headstones. Way to sell your product Anthropic. In the eyes of Anthropic, this is a feel-good story. The tagline for the ad is, "There's hope in hard questions," which is meant to reassure viewers that that their concerns over AI - like its potential to destroy jobs or erode or ability to think - are all perfectly valid and that they are questions that the minds behind the company are grappling with as well. It didn't take long for the commercial, which aired during the World Cup quarterfinal clash between Argentina and Switzerland over the weekend, to draw criticism online. One person commented, "When we raise the question of stopping a dangerously powerful superintelligence we show 300 American gravestones for half a second". Even Sam Altman chimed in, saying, "I thought this was satire". A key part of the ethos of Anthropic is that they want to focus on safe AI development. Recently, the company even called for a global "pause" on AI development because it feared the technology could spiral out of human control. One person responding to the ad said it best: "Can Anthropic be trusted?" And that's the real hard question.
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Canada regulator warns major banks on Anthropic AI cyber risks - report
Canada's federal banking watchdog alerted the country's financial institutions on risks tied to Anthropic's Claude Mythos and other advanced AI models, reported Reuters. According to the regulator, the technology could increase cyber threats and reduce the time available to detect and patch vulnerabilities. The Office of the Superintendent of Financial Institutions (OSFI) sent the message to chief technology officers, chief information security officers and chief risk officers across the financial sector, including large banks and insurers, according to documents Reuters obtained through an access-to-information request. Authorities in several jurisdictions are examining cybersecurity concerns linked to Anthropic's frontier AI model Mythos. The model has been described as highly capable of identifying and exploiting cybersecurity vulnerabilities, creating challenges for banks and their older technology systems. "Advanced artificial intelligence models, such as Anthropic Claude Mythos, significantly compress the timeframe for effective risk mitigation," OSFI said in an email. "Accordingly, this bulletin is grounded in our existing guidance and outlines sound practices that institutions can adopt to enhance the speed and effectiveness of risk identification, mitigation and response." Recognition of the risks associated with Mythos by OSFI may lead Canadian banks, insurers and other regulated institutions to put more resources into technology aimed at protecting clients from cyber threats, noted the news agency. In a statement to Reuters, the regulator said: "OSFI takes a technology‑neutral, risk‑focused approach to emerging technologies, including advanced artificial intelligence models such as Mythos. Our focus is not the technology itself, but how federally regulated financial institutions govern and manage the risks associated with its use." In early April, Canadian banking executives met regulators to discuss risks linked to Mythos, shortly after US Treasury Secretary Scott Bessent and then-Federal Reserve Chair Jerome Powell held an urgent meeting with bank chief executives to warn about cyber risks connected to Anthropic's latest AI model. OSFI sent the email to company executives in April. The cyber capabilities of some frontier AI systems are considered that access has been restricted, with currently excluded from Mythos. Three of Canada's big six banks, Royal Bank of Canada, TD Bank and BMO, have set out plans to make millions from AI investments as they moved from trial projects to uses such as chatbots, internal tools and reducing dependence on third-party tools. Bank of Nova Scotia, CIBC and National Bank have also disclosed several AI initiatives. The Canadian government has access to Anthropic's Project Glasswing, which allows companies to have access to Mythos. It is unclear which, if any, banks in Canada are using it.
Is SpaceX Planning to Make a Smartphone to Rival the iPhone?
Space Exploration Technologies (SPCX 2.24%), also known as just SpaceX, is a company that could disrupt many different industries, including space travel and telecom. But one that investors may not have considered is the smartphone market. While its Starlink service offers mobile internet for smartphones, CEO Elon Musk has also hinted that entering the smartphone market may be a possibility. The company reportedly has a prototype for a device that's similar to an iPhone According to a recent report from the Wall Street Journal, SpaceX has been working on a device that has a slimmer design than Apple's iPhone. While it's designed to help people interact with artificial intelligence (AI), its capabilities could certainly extend beyond that, as it's expected to use a Snapdragon chipset from Qualcomm. The device is nowhere near launching, and there is no certainty that it will even come to market. But with Musk being critical of Apple's restrictive app store policies, it also wouldn't be surprising if he were to want to bring his own smartphone or similar device to market, one that could rival Apple's popular devices. He has suggested in the past that while he isn't thrilled with the idea of doing so, he may feel compelled. "The idea of making a phone makes me want to die. But if we have to make a phone, we will. But we will aspire not to make a phone." Is SpaceX the ultimate growth stock to own? One of the most compelling reasons to invest in SpaceX despite its high valuation is that it has some tremendous growth opportunities. Not only can its reusable rockets revolutionize space travel, but its Starlink business could make it a big player in the telecom sector. And its biggest opportunities are in artificial intelligence (AI), with the company planning to put data centers into space. SpaceX arguably already has too many places to spend and invest in as it is. A smartphone may be a possibility down the road, but I wouldn't expect that to be a focus for the business at this stage. SpaceX has already been incurring billions in losses, and investing in too many different areas at once could prove to be costly and risky. While making risky investments can work for large tech companies with massive resources and strong financials, that strategy may not be as sound for a company such as SpaceX, which still needs to find its way out of the red. SpaceX may be an exciting stock to own, but it's also a highly risky one, and there are arguably far better growth stocks out there for investors that offer a better mix of growth and safety.
SpaceX's slide risks turning blockbuster IPO into confidence test
NEW YORK, July 15 (Reuters) - SpaceX's slip close to 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 then, trading has been rocky. The stock has slipped below its $150 opening price, but remained above the $135 offer price, with concerns about lofty tech stock valuations continuing to weigh on global indexes. SpaceX shares are at risk of falling below that level. They ended on Tuesday down 2.2% at $136.08, their lowest closing level since the IPO, a week after they started trading as part of the Nasdaq 100 index <.NDX>. The stock dipped as low as $135.52. A break below the IPO price would be 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 immediately respond to a request for comment. PRICE DISCOVERY NOT PANIC? A drop below the IPO price would not be 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 would reflect "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. (Reporting by Laura Matthews in New York; Additional reporting by Lewis Krauskopf in New York; editing by Megan Davies and Rod Nickel)
