News & Updates
The latest news and updates from companies in the WLTH portfolio.
Kraken Robotics Demonstrates KATFISH Autonomous Launch and Recovery from SEFINE USV
You can save this article by registering for free here. Or sign-in if you have an account. ST. JOHN'S, Newfoundland and Labrador, April 07, 2026 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. ("Kraken" or the "Company") (TSX-V: PNG, OTCQB: KRKNF) announces the successful integration and demonstration of its KATFISH towed synthetic aperture sonar and autonomous launch and recovery system (LARS) from SEFINE's RD-22 unmanned surface vessel (USV) in coordination with SEFINE SISAM (Strategic Unmanned Systems Research Center). The demonstration took place in Q1 2026 off the coast of İstanbul, Türkiye.
Kraken Robotics Demonstrates KATFISH Autonomous Launch and Recovery from SEFINE USV
ST. JOHN'S, Newfoundland and Labrador, April 07, 2026 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. ("Kraken" or the "Company") (TSX-V: PNG, OTCQB: KRKNF) announces the successful integration and demonstration of its KATFISH towed synthetic aperture sonar and autonomous launch and recovery system (LARS) from SEFINE's RD-22 unmanned surface vessel (USV) in coordination with SEFINE SISAM (Strategic... ST. JOHN'S, Newfoundland and Labrador, April 07, 2026 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. ("Kraken" or the "Company") (TSX-V: PNG, OTCQB: KRKNF) announces the successful integration and demonstration of its KATFISH towed synthetic aperture sonar and autonomous launch and recovery system (LARS) from SEFINE's RD-22 unmanned surface vessel (USV) in coordination with SEFINE SISAM (Strategic Unmanned Systems Research Center). The demonstration took place in Q1 2026 off the coast of İstanbul, Türkiye. "Recent developments underscore the importance of safeguarding critical maritime transit routes and underwater infrastructure, and autonomous mine countermeasure capabilities like KATFISH can play an important role in helping navies efficiently detect and classify mine-like objects," said Bernard Mills, Executive Vice President, Defence at Kraken Robotics. "By combining SEFINE's multi-role USV with Kraken's cutting-edge KATFISH and USV LARS, navies can deploy advanced technologies faster and more efficiently, strengthening defence and maritime security in increasingly complex environments." The demonstration focused on rapid detection and classification of mine-like objects and critical underwater infrastructure and was attended by several navies and government organizations. KATFISH delivered 3 cm x 3 cm resolution data at a range of 200 meters per side which was live streamed to a command center onshore, enabling real-time classification of contacts by operators with SEFINE SISAM's mission planning software. The same KATFISH and USV LARS were demonstrated from a UK Royal Navy in-service 11-meter ARCIMS USV in November 2025. These joint integrations mark a major step forward in delivering agile, modular, and cost-effective mine countermeasure capabilities for modern naval operations. ABOUT KRAKEN ROBOTICS INC. Kraken Robotics Inc. is transforming subsea intelligence through 3D imaging sensors, power solutions, and robotic systems. Our products and services enable clients to overcome the challenges in our oceans - safely, efficiently, and sustainably. Kraken's synthetic aperture sonar, sub-bottom imaging, and LiDAR systems offer best-in-class resolution, providing critical insights into ocean safety, infrastructure, and geology. Our revolutionary pressure tolerant batteries deliver high energy density power for UUVs and subsea energy storage. Kraken Robotics is headquartered in Canada with offices in North America, South America, and Europe, supporting clients in more than 30 countries worldwide. On March 3, 2026, Kraken announced the acquisition of Covelya Group Limited (the "Acquisition"), a leading international provider of mission-critical underwater technology solutions operating through its subsidiary companies: Sonardyne International Ltd., EIVA A/S, Forcys Ltd., Wavefront Systems Ltd., Voyis Imaging Inc., and Chelsea Technologies Ltd. The acquisition is expected to close during the second quarter of 2026, subject to the satisfaction of customary conditions and regulatory approvals. Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Neither the TSX Venture Exchange Inc. nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release. For further information: Erica Hasenfus, Director of Global Marketing [email protected] Shant Madian, Director of Capital Markets [email protected] Kraken Robotics Inc. +1 709-757-5757 [email protected]
Kraken Robotics Inc.: Kraken Robotics Demonstrates KATFISH Autonomous Launch and Recovery from SEFINE USV
ST. JOHN'S, Newfoundland and Labrador, April 07, 2026 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. ("Kraken" or the "Company") (TSX-V: PNG, OTCQB: KRKNF) announces the successful integration and demonstration of its KATFISH towed synthetic aperture sonar and autonomous launch and recovery system (LARS) from SEFINE's RD-22 unmanned surface vessel (USV) in coordination with SEFINE SISAM (Strategic Unmanned Systems Research Center). The demonstration took place in Q1 2026 off the coast of Istanbul, Türkiye. "Recent developments underscore the importance of safeguarding critical maritime transit routes and underwater infrastructure, and autonomous mine countermeasure capabilities like KATFISH can play an important role in helping navies efficiently detect and classify mine-like objects," said Bernard Mills, Executive Vice President, Defence at Kraken Robotics. "By combining SEFINE's multi-role USV with Kraken's cutting-edge KATFISH and USV LARS, navies can deploy advanced technologies faster and more efficiently, strengthening defence and maritime security in increasingly complex environments." The demonstration focused on rapid detection and classification of mine-like objects and critical underwater infrastructure and was attended by several navies and government organizations. KATFISH delivered 3 cm x 3 cm resolution data at a range of 200 meters per side which was live streamed to a command center onshore, enabling real-time classification of contacts by operators with SEFINE SISAM's mission planning software. The same KATFISH and USV LARS were demonstrated from a UK Royal Navy in-service 11-meter ARCIMS USV in November 2025. These joint integrations mark a major step forward in delivering agile, modular, and cost-effective mine countermeasure capabilities for modern naval operations. A video of the demonstration can be viewed at https://youtu.be/JIXapiCCeSA. Figure 1: Kraken Robotics Demonstrates KATFISH Autonomous Launch and Recovery from a SEFINE RD-22 USV Figure 2: Kraken Synthetic Aperture Sonar imagery captured by KATFISH during the demonstration. ABOUT KRAKEN ROBOTICS INC. Kraken Robotics Inc. is transforming subsea intelligence through 3D imaging sensors, power solutions, and robotic systems. Our products and services enable clients to overcome the challenges in our oceans - safely, efficiently, and sustainably. Kraken's synthetic aperture sonar, sub-bottom imaging, and LiDAR systems offer best-in-class resolution, providing critical insights into ocean safety, infrastructure, and geology. Our revolutionary pressure tolerant batteries deliver high energy density power for UUVs and subsea energy storage. Kraken Robotics is headquartered in Canada with offices in North America, South America, and Europe, supporting clients in more than 30 countries worldwide. On March 3, 2026, Kraken announced the acquisition of Covelya Group Limited (the "Acquisition"), a leading international provider of mission-critical underwater technology solutions operating through its subsidiary companies: Sonardyne International Ltd., EIVA A/S, Forcys Ltd., Wavefront Systems Ltd., Voyis Imaging Inc., and Chelsea Technologies Ltd. The acquisition is expected to close during the second quarter of 2026, subject to the satisfaction of customary conditions and regulatory approvals. LINKS: www.krakenrobotics.com SOCIAL MEDIA: LinkedIn www.linkedin.com/company/krakenrobotics Twitter www.twitter.com/krakenrobotics Facebook www.facebook.com/krakenroboticsinc YouTube www.youtube.com/channel/UCEMyaMQnneTeIr71HYgrT2A Instagram www.instagram.com/krakenrobotics Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Neither the TSX Venture Exchange Inc. nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release. For further information: Erica Hasenfus, Director of Global Marketing [email protected] Shant Madian, Director of Capital Markets [email protected] Kraken Robotics Inc. +1 709-757-5757 [email protected] Photos accompanying this announcement are available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/1288071a-5c85-4b0b-a8d5-1b3afea91ffa https://www.globenewswire.com/NewsRoom/AttachmentNg/53628da1-2c21-4ba9-9d6d-0ac0492880c3 © 2026 GlobeNewswire (Europe)
Broadcom shares jump before the bell as chipmaker agrees Google and Anthropic deals
The latter deal will give the AI startup access to about 3.5 gigawatts worth of computing capacity, drawing on Google's AI processors and providing some relief for the share price. Broadcom stock has endured a tough start to 2025, falling almost 10% year-to-date as investors have become increasingly jittery around the bull case for technology stocks. It has also been caught up in the maelstrom of the wider market caused by the U.S.-Israeli attack on Iran that began on February 28. The drift downwards comes despite a blowout earnings report in March, during which CEO Hock Tan touted strong future demand for the company's chips. He told analysts last month that he anticipates AI chip revenue in 2027 that's "significantly in excess of $100 billion" as demand mounts for designing custom silicon. Analysts remain bullish following Monday's announcements. "The deal includes revenue commitments across that timeline, which should help ease some of the recent nervousness around TPU competition and give a clearer signal that its largest customer sees meaningful demand visibility well into the future," said Matt Britzman, senior equity analyst at Hargreaves Lansdown. "We already saw upside to medium-term revenue and profit expectations off the back of recent results; these new deals help underpin that idea if deployment ramps as planned." Citi analysts maintained their 'Buy' rating for the stock, backing Broadcom to surpass its $100 billion revenue target to more than $130 billion off the back of the Google deal.
How SpaceX's $75billion IPO could suck the oxygen out of fragile market
SpaceX Launch Complex at launch pad 39-A at the Kennedy Space Center in Cape Canaveral, Florida As Elon Musk's SpaceX closes in on a $75 billion IPO that could rewrite record books, concerns are mounting that others looking to list in 2026 may find it harder to get deals done under the shadow of the space venture's headline-grabbing debut. US markets, prized for their depth, face a critical test, as more than half a dozen analysts and industry experts told Reuters that the SpaceX deal would likely absorb an outsized share of investor demand, squeezing out other hopefuls. "History tells us that a mega IPO like SpaceX can suck up the oxygen in the market. We saw that with Facebook in 2012," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. "IPOs are a major marketing event, and companies wouldn't want the noise from a SpaceX offering to drown out coverage of their own deals. So, listing activity may die down a bit during the weeks surrounding the SpaceX IPO." Companies have waited years on the sidelines for favourable IPO conditions after a prolonged dry spell. A listing like SpaceX, with its celebrity billionaire CEO, hot industry and deep-pocketed backers, could have provided the jolt others need to push ahead. Instead, its sheer scale threatens to overshadow others, with Wall Street banks and investors pouring a majority of their attention, and money, into the operator of the Starlink constellation of satellites. Thirty-five IPOs have priced so far this year, according to data from Renaissance Capital, down 37.5% from a year earlier. That could worsen in the months ahead, clouding hopes of a broader market resurgence in 2026.Disruptions weigh on IPO market The IPO market has lined up its biggest pipeline in decades, analysts and bankers said. But the war in Iran, spiking oil prices, private credit concerns and AI-led disruption to legacy software firms have set a high bar for which deals successfully break through the volatility - and which ones get left behind. Now, alongside these disruptions, companies eyeing IPOs must also compete for attention in a market dominated by SpaceX headlines. While bankers will probably advise their biggest clients against competing against SpaceX, smaller listings may benefit, said Michael Ashley Schulman, partner at wealth management firm Cerity Partners. "Smaller IPO debuts may benefit from a tag-along effect in retail enthusiasm that could mentally lump IPOs together under the assumption that if one does well, others will too," he said.More mega deals to come Timing an IPO is often as crucial to a listing's success as the company's fundamentals. May through June is typically the best window before a summer lull that defers larger offerings to the fall. While Musk is hoping to take SpaceX public in June, according to bankers, OpenAI and rival Anthropic are reportedly aiming for a debut in the second half of the year. "The attention that these mega IPOs take from the market could push a broadly open IPO window into 2027," PitchBook analyst Kyle Stanford said in a report. The report added that if SpaceX raises between $50 billion and $75 billion, while OpenAI and Anthropic raise another $50 billion combined, that would roughly match the total raised by U.S. VC-backed company IPOs over the past decade. "Media attention is not the only thing these mega IPOs could absorb. IPO underwriting would be constrained by the amount these companies are able to raise," Stanford wrote.'Muskonomy' vs market realities To be sure, it's uncharted territory - no offering of this size has been attempted before. Analysts and experts said the absence of any clear precedent or comparable listing leaves investors with little to anchor expectations, making it harder to gauge how the market will respond to SpaceX's IPO. "SpaceX is going to be big, no doubt about it," said James Angel, faculty affiliate at Georgetown McDonough's Psaros Center for Financial Markets and Policy. "The combination of well-known brands like X and Starlink, along with the magic of AI, the dream of space, and Musk's magic means that the investment bankers will have little trouble generating interest in the stock." Elon Musk has built a track record of pulling in investor demand across cycles, with his ventures often dominating attention. His empire, dubbed "Muskonomy" by analysts, creates a concentration of capital that few offerings can match. That concentration of investor interest is not just theoretical, it has played out in past listings. Musk's EV maker Tesla raised $226 million in its 2010 IPO at a market value of about $1.6 billion. It is now the world's most valuable automaker, worth more than $1.3 trillion. But even that track record and investor appeal may not be enough in today's IPO market, analysts cautioned. "We don't believe that SpaceX can escape the realities of the U.S. IPO marketplace, in the sense that it has become a buyer's market," said Josef Schuster, CEO of IPO research firm IPOX. "Even strong IPO candidates in hot sectors need to show flexibility in pricing their deal and potentially need to price downward for IPO success." Others warned that a wave of large listings could strain investor demand more broadly, particularly if multiple mega deals hit the market at the same time. "There is an old market saying that bull markets end when the money runs out, and there are plenty of historic examples where a deluge of IPOs and new stock market entrants, and then subsequent secondary offerings, meant sellers eventually swamped buyers," AJ Bell investment director Russ Mould said.
Analysis-Blockbuster SpaceX listing could suck the oxygen out of fragile IPO market By Reuters
April 7 (Reuters) - As Elon Musk's SpaceX closes in on a $75 billion IPO that could rewrite record books, concerns are mounting that others looking to list in 2026 may find it harder to get deals done under the shadow of the space venture's headline-grabbing debut. U.S. markets, prized for their depth, face a critical test, as more than half a dozen analysts and industry experts told Reuters that the SpaceX deal would likely absorb an outsized share of investor demand, squeezing out other hopefuls. "History tells us that a mega IPO like SpaceX can suck up the oxygen in the market. We saw that with Facebook in 2012," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. "IPOs are a major marketing event, and companies wouldn't want the noise from a SpaceX offering to drown out coverage of their own deals. So, listing activity may die down a bit during the weeks surrounding the SpaceX IPO." Companies have waited years on the sidelines for favorable IPO conditions after a prolonged dry spell. A listing like SpaceX, with its celebrity billionaire CEO, hot industry and deep-pocketed backers, could have provided the jolt others need to push ahead. Instead, its sheer scale threatens to overshadow others, with Wall Street banks and investors pouring a majority of their attention, and money, into the operator of the Starlink constellation of satellites. Thirty-five IPOs have priced so far this year, according to data from Renaissance Capital, down 37.5% from a year earlier. That could worsen in the months ahead, clouding hopes of a broader market resurgence in 2026. DISRUPTIONS WEIGH ON IPO MARKET The IPO market has lined up its biggest pipeline in decades, analysts and bankers said. But the war in Iran, spiking oil prices, private credit concerns and AI-led disruption to legacy software firms have set a high bar for which deals successfully break through the volatility - and which ones get left behind. Now, alongside these disruptions, companies eyeing IPOs must also compete for attention in a market dominated by SpaceX headlines. While bankers will probably advise their biggest clients against competing against SpaceX, smaller listings may benefit, said Michael Ashley Schulman, partner at wealth management firm Cerity Partners. "Smaller IPO debuts may benefit from a tag-along effect in retail enthusiasm that could mentally lump IPOs together under the assumption that if one does well, others will too," he said. MORE MEGA DEALS TO COME Timing an IPO is often as crucial to a listing's success as the company's fundamentals. May through June is typically the best window before a summer lull that defers larger offerings to the fall. While Musk is hoping to take SpaceX public in June, according to bankers, OpenAI and rival Anthropic are reportedly aiming for a debut in the second half of the year. "The attention that these mega IPOs take from the market could push a broadly open IPO window into 2027," PitchBook analyst Kyle Stanford said in a report. The report added that if SpaceX raises between $50 billion and $75 billion, while OpenAI and Anthropic raise another $50 billion combined, that would roughly match the total raised by U.S. VC-backed company IPOs over the past decade. "Media attention is not the only thing these mega IPOs could absorb. IPO underwriting would be constrained by the amount these companies are able to raise," Stanford wrote. 'MUSKONOMY' VS MARKET REALITIES To be sure, it's uncharted territory - no offering of this size has been attempted before. Analysts and experts said the absence of any clear precedent or comparable listing leaves investors with little to anchor expectations, making it harder to gauge how the market will respond to SpaceX's IPO. "SpaceX is going to be big, no doubt about it," said James Angel, faculty affiliate at Georgetown McDonough's Psaros Center for Financial Markets and Policy. "The combination of well-known brands like X and Starlink, along with the magic of AI, the dream of space, and Musk's magic means that the investment bankers will have little trouble generating interest in the stock." Elon Musk has built a track record of pulling in investor demand across cycles, with his ventures often dominating attention. His empire, dubbed "Muskonomy" by analysts, creates a concentration of capital that few offerings can match. That concentration of investor interest is not just theoretical, it has played out in past listings. Musk's EV maker Tesla raised $226 million in its 2010 IPO at a market value of about $1.6 billion. It is now the world's most valuable automaker, worth more than $1.3 trillion. But even that track record and investor appeal may not be enough in today's IPO market, analysts cautioned. "We don't believe that SpaceX can escape the realities of the U.S. IPO marketplace, in the sense that it has become a buyer's market," said Josef Schuster, CEO of IPO research firm IPOX. "Even strong IPO candidates in hot sectors need to show flexibility in pricing their deal and potentially need to price downward for IPO success." Others warned that a wave of large listings could strain investor demand more broadly, particularly if multiple mega deals hit the market at the same time. "There is an old market saying that bull markets end when the money runs out, and there are plenty of historic examples where a deluge of IPOs and new stock market entrants, and then subsequent secondary offerings, meant sellers eventually swamped buyers," AJ Bell investment director Russ Mould said.
Inside Project Prometheus: The Secret AI Startup of Jeff Bezos, That's Hiring Top xAI Talent - Gizmochina
Plans to raise billions and invest in AI-disrupted industries A new and highly secretive AI startup, Project Prometheus, is quietly emerging as one of the most ambitious bets in the artificial intelligence race. Backed by Amazon founder Jeff Bezos and co-led by former Google executive Vikram Bajaj, the company was founded in 2025 with a bold goal: to take AI beyond chatbots and into the physical world. Unlike tools such as ChatGPT or Claude Code, Prometheus is focused on building systems that understand real-world environments. Its AI models are being designed to work in industries like aviation, engineering, and architecture, using domain-specific data such as jet engine design. A major boost to the company comes from the hiring of Kyle Kosic, a co-founder of xAI. Kosic, who previously worked with Elon Musk and helped build the Colossus supercomputer, will now lead Prometheus' AI infrastructure efforts. The startup is also part of a growing "talent war" in AI, where top engineers are being aggressively recruited with massive offers. Notably, all 11 co-founders of xAI have now exited, highlighting rising tensions in the industry. Prometheus is expanding fast, with offices in San Francisco, London, and Zurich, and hundreds of employees already hired. Its long-term plan includes raising tens of billions of dollars and building a Berkshire Hathaway-style investment model, acquiring stakes in companies, and using their data to train smarter AI. Despite its rapid growth, Prometheus remains highly secretive, with no official public statements yet.
Analysis-Blockbuster SpaceX listing could suck the oxygen out of fragile IPO market
April 7 (Reuters) - As Elon Musk's SpaceX closes in on a $75 billion IPO that could rewrite record books, concerns are mounting that others looking to list in 2026 may find it harder to get deals done under the shadow of the space venture's headline-grabbing debut. U.S. markets, prized for their depth, face a critical test, as more than half a dozen analysts and industry experts told Reuters that the SpaceX deal would likely absorb an outsized share of investor demand, squeezing out other hopefuls. "History tells us that a mega IPO like SpaceX can suck up the oxygen in the market. We saw that with Facebook in 2012," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. "IPOs are a major marketing event, and companies wouldn't want the noise from a SpaceX offering to drown out coverage of their own deals. So, listing activity may die down a bit during the weeks surrounding the SpaceX IPO." Companies have waited years on the sidelines for favorable IPO conditions after a prolonged dry spell. A listing like SpaceX, with its celebrity billionaire CEO, hot industry and deep-pocketed backers, could have provided the jolt others need to push ahead. Instead, its sheer scale threatens to overshadow others, with Wall Street banks and investors pouring a majority of their attention, and money, into the operator of the Starlink constellation of satellites. Thirty-five IPOs have priced so far this year, according to data from Renaissance Capital, down 37.5% from a year earlier. That could worsen in the months ahead, clouding hopes of a broader market resurgence in 2026. DISRUPTIONS WEIGH ON IPO MARKET The IPO market has lined up its biggest pipeline in decades, analysts and bankers said. But the war in Iran, spiking oil prices, private credit concerns and AI-led disruption to legacy software firms have set a high bar for which deals successfully break through the volatility - and which ones get left behind. Now, alongside these disruptions, companies eyeing IPOs must also compete for attention in a market dominated by SpaceX headlines. While bankers will probably advise their biggest clients against competing against SpaceX, smaller listings may benefit, said Michael Ashley Schulman, partner at wealth management firm Cerity Partners. "Smaller IPO debuts may benefit from a tag-along effect in retail enthusiasm that could mentally lump IPOs together under the assumption that if one does well, others will too," he said.
Polymarket exchange upgrade overhaul amid platform changes
We uphold a strict editorial policy that focuses on factual accuracy, relevance, and impartiality. Our in-house created content is meticulously reviewed by a team of seasoned editors to ensure compliance with the highest standards in reporting and publishing. Polymarket is getting ready to rebuild the core of its exchange, a shift the team says will be the most significant change in the platform's history. The upgrade will roll out over the next few weeks and quietly replace the machinery underneath the app without altering how it looks to users. Compare it to swapping out a car engine while keeping the same exterior. On the surface, the experience should feel familiar, but underneath, nearly everything is being reworked. "Our Biggest Change to Date: CTF + CLOB v2," the developers wrote in a public update, outlining what they called an upgrade of "the entire Polymarket exchange stack." The new system, known as CTF + CLOB v2, introduces fresh contracts, a redesigned order book, and a different collateral structure. During the transition, trading will briefly pause while systems are migrated over a two- to three-week window. Polymarket overhaul includes trading exchange upgrade aimed at speed and flexibility CTF Exchange V2 replaces the current exchange contract with a more streamlined version. The redesign is said to focus on making order handling cleaner and faster, with changes that simplify how trades are structured and executed. It "optimizes and simplifies the Order struct," while also improving how orders are matched. The update adds support for "1271 signatures" and introduces "builder codes for onchain order attribution." It also includes "optimized fee collection and distribution." The changes are thought to be relevant for developers running automated strategies or building tools on top of Polymarket. The expectation is that bots and integrations will run more smoothly, with fewer inefficiencies in how trades are processed. Part of the transition is a new collateral token called Polymarket USD, which replaces USDC.e. The team says the token is "backed 1:1 by USDC," keeping its value stable while allowing tighter integration with the new system. "For most users, this transition is seamless. The frontend handles wrapping automatically with a one-time approval prompt," the developers said. More advanced traders will need to take action themselves. "Power users and API-only traders will need to wrap their USDC or USDC.e into Polymarket USD via the Collateral Onramp contract's wrap() function." The updated system also includes a new version of the platform's CLOB-Client SDK. "Your client queries a version endpoint and refreshes on migration day," the team noted. "TypeScript, Python, and Go clients will be ready and documentation shared before release day." Developers will need to update their tools to stay compatible. "If you're running a bot or integration, you'll need to update your SDK and re-sign orders with the new struct." All existing order books will be wiped as part of the shift. "During the upgrade, all existing order books will be cleared. There will be a short maintenance window," the developers said. The overhaul arrives during a busy and sometimes turbulent stretch for Polymarket. The platform recently pulled a high-profile betting market tied to Artemis after facing backlash. At the same time, it has been expanding, including the acquisition of Dome. Featured image: Polymarket via X
Analysis-Blockbuster SpaceX listing could suck the oxygen out of fragile IPO market By Reuters
April 7 (Reuters) - As Elon Musk's SpaceX closes in on a $75 billion IPO that could rewrite record books, concerns are mounting that others looking to list in 2026 may find it harder to get deals done under the shadow of the space venture's headline-grabbing debut. U.S. markets, prized for their depth, face a critical test, as more than half a dozen analysts and industry experts told Reuters that the SpaceX deal would likely absorb an outsized share of investor demand, squeezing out other hopefuls. "History tells us that a mega IPO like SpaceX can suck up the oxygen in the market. We saw that with Facebook in 2012," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. "IPOs are a major marketing event, and companies wouldn't want the noise from a SpaceX offering to drown out coverage of their own deals. So, listing activity may die down a bit during the weeks surrounding the SpaceX IPO." Companies have waited years on the sidelines for favorable IPO conditions after a prolonged dry spell. A listing like SpaceX, with its celebrity billionaire CEO, hot industry and deep-pocketed backers, could have provided the jolt others need to push ahead. Instead, its sheer scale threatens to overshadow others, with Wall Street banks and investors pouring a majority of their attention, and money, into the operator of the Starlink constellation of satellites. Thirty-five IPOs have priced so far this year, according to data from Renaissance Capital, down 37.5% from a year earlier. That could worsen in the months ahead, clouding hopes of a broader market resurgence in 2026. DISRUPTIONS WEIGH ON IPO MARKET The IPO market has lined up its biggest pipeline in decades, analysts and bankers said. But the war in Iran, spiking oil prices, private credit concerns and AI-led disruption to legacy software firms have set a high bar for which deals successfully break through the volatility - and which ones get left behind. Now, alongside these disruptions, companies eyeing IPOs must also compete for attention in a market dominated by SpaceX headlines. While bankers will probably advise their biggest clients against competing against SpaceX, smaller listings may benefit, said Michael Ashley Schulman, partner at wealth management firm Cerity Partners. "Smaller IPO debuts may benefit from a tag-along effect in retail enthusiasm that could mentally lump IPOs together under the assumption that if one does well, others will too," he said. MORE MEGA DEALS TO COME Timing an IPO is often as crucial to a listing's success as the company's fundamentals. May through June is typically the best window before a summer lull that defers larger offerings to the fall. While Musk is hoping to take SpaceX public in June, according to bankers, OpenAI and rival Anthropic are reportedly aiming for a debut in the second half of the year. "The attention that these mega IPOs take from the market could push a broadly open IPO window into 2027," PitchBook analyst Kyle Stanford said in a report. The report added that if SpaceX raises between $50 billion and $75 billion, while OpenAI and Anthropic raise another $50 billion combined, that would roughly match the total raised by U.S. VC-backed company IPOs over the past decade. "Media attention is not the only thing these mega IPOs could absorb. IPO underwriting would be constrained by the amount these companies are able to raise," Stanford wrote. 'MUSKONOMY' VS MARKET REALITIES To be sure, it's uncharted territory - no offering of this size has been attempted before. Analysts and experts said the absence of any clear precedent or comparable listing leaves investors with little to anchor expectations, making it harder to gauge how the market will respond to SpaceX's IPO. "SpaceX is going to be big, no doubt about it," said James Angel, faculty affiliate at Georgetown McDonough's Psaros Center for Financial Markets and Policy. "The combination of well-known brands like X and Starlink, along with the magic of AI, the dream of space, and Musk's magic means that the investment bankers will have little trouble generating interest in the stock." Elon Musk has built a track record of pulling in investor demand across cycles, with his ventures often dominating attention. His empire, dubbed "Muskonomy" by analysts, creates a concentration of capital that few offerings can match. That concentration of investor interest is not just theoretical, it has played out in past listings. Musk's EV maker Tesla raised $226 million in its 2010 IPO at a market value of about $1.6 billion. It is now the world's most valuable automaker, worth more than $1.3 trillion. But even that track record and investor appeal may not be enough in today's IPO market, analysts cautioned. "We don't believe that SpaceX can escape the realities of the U.S. IPO marketplace, in the sense that it has become a buyer's market," said Josef Schuster, CEO of IPO research firm IPOX. "Even strong IPO candidates in hot sectors need to show flexibility in pricing their deal and potentially need to price downward for IPO success." Others warned that a wave of large listings could strain investor demand more broadly, particularly if multiple mega deals hit the market at the same time. "There is an old market saying that bull markets end when the money runs out, and there are plenty of historic examples where a deluge of IPOs and new stock market entrants, and then subsequent secondary offerings, meant sellers eventually swamped buyers," AJ Bell investment director Russ Mould said.
Can $3.5B Legal Bottleneck Threaten EchoStar's $20B SpaceX Lifeline | Trefis
EchoStar (SATS) has pulled off the ultimate pivot. Since mid-2025, the stock has rocketed from $15 to $127 as investors treat the company as a de facto tracking stock for SpaceX's looming $2 trillion IPO. The catalyst? A massive $20 billion spectrum deal that swapped EchoStar's debt-ridden telecom business for a seat at Elon Musk's table. But the "SpaceX payday" isn't a done deal. While the market cheers EchoStar's $11 billion equity stake, the company is still navigating a $25 billion debt load and a high-stakes $3.5 billion legal battle with tower giants like Crown Castle. For EchoStar to finalize its transformation, it must first survive a gauntlet of regulatory approvals and unpaid creditors that could still derail its historic rally. Twelve months ago, EchoStar was staring at a debt wall. Billions in bonds were maturing, revenue was declining, and the market was pricing in a probable default. Then came the SpaceX deal. EchoStar agreed to sell its AWS-4 and H-Block spectrum licenses to SpaceX for a total value of close to $20 billion. The breakdown: $8.5 billion in cash to immediately extinguish debt obligations, $11.1 billion in SpaceX equity, and $2 billion in debt assumption by SpaceX. As a result, in March 2026, EchoStar was added back to the S&P 500, and this meant that passive index funds tracking the benchmark were required to buy shares. Short sellers who had bet on EchoStar's collapse were forced to buy back shares to cover their positions, driving the rally further. The market is now treating EchoStar less as a telecom operator and more as a SpaceX tracking stock. SpaceX is targeting a June 2026 IPO at a valuation between $1.75 trillion and $2 trillion, making it as big as software titan Microsoft, which has seen its stock correct nearly 30% from highs. What Are The Risks? At a $37 billion market cap, EchoStar carries over $25 billion in debt and trades at 2.5x estimated 2026 revenue, which is declining (see SATS validation metrics). Almost the entire valuation rests on an $11 billion stake in a private company that has not yet gone public. Strip out the SpaceX equity, and what remains is a shrinking pay-TV business, a mobile brand running on a competitor's network, and a debt load that demands everything go right simultaneously. Three specific risks stand between EchoStar and that outcome. [1] Tower companies are suing. EchoStar built the Dish Wireless business by renting space on thousands of cell towers owned by companies like Crown Castle (CCI) and American Tower (AMT). It stopped paying that rent after deciding to exit the ground-based network business entirely, claiming the SpaceX deal made the towers unnecessary. Crown Castle alone is seeking $3.5 billion. Creditors are now lobbying the FCC to place SpaceX sale proceeds into escrow until these claims are settled, which would directly cut off the cash EchoStar needs to service remaining debt. [2] The FCC approval is not guaranteed. Spectrum is a public resource licensed by the government, which means any transfer of those licenses requires FCC approval regardless of what the two parties have agreed to. Rivals and tower companies are filing arguments that EchoStar should not be permitted to extract $20 billion in profit from spectrum while leaving infrastructure partners unpaid. [3] EchoStar has no operational growth engine. The pay-TV business lost 168,000 subscribers in Q4 2025 alone; Boost Mobile runs on AT&T's network rather than its own; and HughesNet, its satellite internet arm, now holds just 1% of global satellite broadband speed test samples against Starlink's 97%. The company spent over a decade trying to build Dish Wireless into a fourth national carrier, constructing ground-based 5G infrastructure to compete with Verizon, AT&T, and T-Mobile, before taking a $16.5 billion write-down on those assets and abandoning the effort entirely. The Path Forward For EchoStar EchoStar has created EchoStar Capital, an internal division focused solely on managing the SpaceX equity stake and allocating proceeds from asset sales. No new business is being built. If the SpaceX IPO disappoints or is delayed, there is nothing to fall back on. While the SpaceX exposure makes SATS an interesting bet, the risk is still meaningful. This is a good example of "idiosyncratic risk" you need to be aware of when investing. However, long term wealth is built and protected by diversifying away such risks, while still maintaining upside exposure. That's the principle we adhered to when building Trefis High Quality Portfolio (HQ) strategy, which has outperformed its market benchmark (a combination of the S&P 500, S&P mid-cap, and Russell 2000) to produce over 105% returns since inception.
AM Markets Need to Know: Hedge fund losses, SpaceX IPO plans, and more (SP500:)
Stock index futures rose on Tuesday as President Donald Trump's deadline to reopen the Strait of Hormuz approached. Now, here are five news stories that broke overnight to watch out for: SpaceX (SPACE) details IPO plans: SpaceX provided details SpaceX's IPO will allocate a significant portion of shares to retail investors and includes hosting 1,500 of them at an upcoming event, suggesting increased retail participation opportunities. HSBC strategist Max Kettner argues a buy signal is evident for major stock indexes and broader risk assets, even amid volatility, echoing other bullish analysts. Prominent hedge funds like Tiger Global, Maverick Capital, and Viking Global suffered notable losses in March as the Iran war-generated market turbulence impaired their returns.
Blockbuster SpaceX listing could suck the oxygen out of fragile IPO market
April 7 (Reuters) - As Elon Musk's SpaceX closes in on a $75 billion IPO that could rewrite record books, concerns are mounting that others looking to list in 2026 may find it harder to get deals done under the shadow of the space venture's headline-grabbing debut. U.S. markets, prized for their depth, face a critical test, as more than half a dozen analysts and industry experts told Reuters that the SpaceX deal would likely absorb an outsized share of investor demand, squeezing out other hopefuls. "History tells us that a mega IPO like SpaceX can suck up the oxygen in the market. We saw that with Facebook in 2012," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. "IPOs are a major marketing event, and companies wouldn't want the noise from a SpaceX offering to drown out coverage of their own deals. So, listing activity may die down a bit during the weeks surrounding the SpaceX IPO." Companies have waited years on the sidelines for favorable IPO conditions after a prolonged dry spell. A listing like SpaceX, with its celebrity billionaire CEO, hot industry and deep-pocketed backers, could have provided the jolt others need to push ahead. Instead, its sheer scale threatens to overshadow others, with Wall Street banks and investors pouring a majority of their attention, and money, into the operator of the Starlink constellation of satellites. Thirty-five IPOs have priced so far this year, according to data from Renaissance Capital, down 37.5% from a year earlier. That could worsen in the months ahead, clouding hopes of a broader market resurgence in 2026. DISRUPTIONS WEIGH ON IPO MARKET The IPO market has lined up its biggest pipeline in decades, analysts and bankers said. But the war in Iran, spiking oil prices, private credit concerns and AI-led disruption to legacy software firms have set a high bar for which deals successfully break through the volatility - and which ones get left behind. Now, alongside these disruptions, companies eyeing IPOs must also compete for attention in a market dominated by SpaceX headlines. While bankers will probably advise their biggest clients against competing against SpaceX, smaller listings may benefit, said Michael Ashley Schulman, partner at wealth management firm Cerity Partners. "Smaller IPO debuts may benefit from a tag-along effect in retail enthusiasm that could mentally lump IPOs together under the assumption that if one does well, others will too," he said. MORE MEGA DEALS TO COME Timing an IPO is often as crucial to a listing's success as the company's fundamentals. May through June is typically the best window before a summer lull that defers larger offerings to the fall. While Musk is hoping to take SpaceX public in June, according to bankers, OpenAI and rival Anthropic are reportedly aiming for a debut in the second half of the year. "The attention that these mega IPOs take from the market could push a broadly open IPO window into 2027," PitchBook analyst Kyle Stanford said in a report. The report added that if SpaceX raises between $50 billion and $75 billion, while OpenAI and Anthropic raise another $50 billion combined, that would roughly match the total raised by U.S. VC-backed company IPOs over the past decade. "Media attention is not the only thing these mega IPOs could absorb. IPO underwriting would be constrained by the amount these companies are able to raise," Stanford wrote. 'MUSKONOMY' VS MARKET REALITIES To be sure, it's uncharted territory - no offering of this size has been attempted before. Analysts and experts said the absence of any clear precedent or comparable listing leaves investors with little to anchor expectations, making it harder to gauge how the market will respond to SpaceX's IPO. "SpaceX is going to be big, no doubt about it," said James Angel, faculty affiliate at Georgetown McDonough's Psaros Center for Financial Markets and Policy. "The combination of well-known brands like X and Starlink, along with the magic of AI, the dream of space, and Musk's magic means that the investment bankers will have little trouble generating interest in the stock." Elon Musk has built a track record of pulling in investor demand across cycles, with his ventures often dominating attention. His empire, dubbed "Muskonomy" by analysts, creates a concentration of capital that few offerings can match. That concentration of investor interest is not just theoretical, it has played out in past listings. Musk's EV maker Tesla raised $226 million in its 2010 IPO at a market value of about $1.6 billion. It is now the world's most valuable automaker, worth more than $1.3 trillion. But even that track record and investor appeal may not be enough in today's IPO market, analysts cautioned. "We don't believe that SpaceX can escape the realities of the U.S. IPO marketplace, in the sense that it has become a buyer's market," said Josef Schuster, CEO of IPO research firm IPOX. "Even strong IPO candidates in hot sectors need to show flexibility in pricing their deal and potentially need to price downward for IPO success." Others warned that a wave of large listings could strain investor demand more broadly, particularly if multiple mega deals hit the market at the same time. "There is an old market saying that bull markets end when the money runs out, and there are plenty of historic examples where a deluge of IPOs and new stock market entrants, and then subsequent secondary offerings, meant sellers eventually swamped buyers," AJ Bell investment director Russ Mould said. (Reporting by Manya Saini in Bengaluru; Editing by Dawn Kopecki, Noor Zainab Hussain and Saumyadeb Chakrabarty)
Blockbuster SpaceX listing could suck the oxygen out of fragile IPO market
April 7 (Reuters) - As Elon Musk's SpaceX closes in on a $75 billion IPO that could rewrite record books, concerns are mounting that others looking to list in 2026 may find it harder to get deals done under the shadow of the space venture's headline-grabbing debut. U.S. markets, prized for their depth, face a critical test, as more than half a dozen analysts and industry experts told Reuters that the SpaceX deal would likely absorb an outsized share of investor demand, squeezing out other hopefuls. "History tells us that a mega IPO like SpaceX can suck up the oxygen in the market. We saw that with Facebook in 2012," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. "IPOs are a major marketing event, and companies wouldn't want the noise from a SpaceX offering to drown out coverage of their own deals. So, listing activity may die down a bit during the weeks surrounding the SpaceX IPO." Companies have waited years on the sidelines for favorable IPO conditions after a prolonged dry spell. A listing like SpaceX, with its celebrity billionaire CEO, hot industry and deep-pocketed backers, could have provided the jolt others need to push ahead. Instead, its sheer scale threatens to overshadow others, with Wall Street banks and investors pouring a majority of their attention, and money, into the operator of the Starlink constellation of satellites. Thirty-five IPOs have priced so far this year, according to data from Renaissance Capital, down 37.5% from a year earlier. That could worsen in the months ahead, clouding hopes of a broader market resurgence in 2026. DISRUPTIONS WEIGH ON IPO MARKET The IPO market has lined up its biggest pipeline in decades, analysts and bankers said. But the war in Iran, spiking oil prices, private credit concerns and AI-led disruption to legacy software firms have set a high bar for which deals successfully break through the volatility - and which ones get left behind. Now, alongside these disruptions, companies eyeing IPOs must also compete for attention in a market dominated by SpaceX headlines. While bankers will probably advise their biggest clients against competing against SpaceX, smaller listings may benefit, said Michael Ashley Schulman, partner at wealth management firm Cerity Partners. "Smaller IPO debuts may benefit from a tag-along effect in retail enthusiasm that could mentally lump IPOs together under the assumption that if one does well, others will too," he said. MORE MEGA DEALS TO COME Timing an IPO is often as crucial to a listing's success as the company's fundamentals. May through June is typically the best window before a summer lull that defers larger offerings to the fall. While Musk is hoping to take SpaceX public in June, according to bankers, OpenAI and rival Anthropic are reportedly aiming for a debut in the second half of the year. "The attention that these mega IPOs take from the market could push a broadly open IPO window into 2027," PitchBook analyst Kyle Stanford said in a report. The report added that if SpaceX raises between $50 billion and $75 billion, while OpenAI and Anthropic raise another $50 billion combined, that would roughly match the total raised by U.S. VC-backed company IPOs over the past decade. "Media attention is not the only thing these mega IPOs could absorb. IPO underwriting would be constrained by the amount these companies are able to raise," Stanford wrote. 'MUSKONOMY' VS MARKET REALITIES To be sure, it's uncharted territory - no offering of this size has been attempted before. Analysts and experts said the absence of any clear precedent or comparable listing leaves investors with little to anchor expectations, making it harder to gauge how the market will respond to SpaceX's IPO. "SpaceX is going to be big, no doubt about it," said James Angel, faculty affiliate at Georgetown McDonough's Psaros Center for Financial Markets and Policy. "The combination of well-known brands like X and Starlink, along with the magic of AI, the dream of space, and Musk's magic means that the investment bankers will have little trouble generating interest in the stock." Elon Musk has built a track record of pulling in investor demand across cycles, with his ventures often dominating attention. His empire, dubbed "Muskonomy" by analysts, creates a concentration of capital that few offerings can match. That concentration of investor interest is not just theoretical, it has played out in past listings. Musk's EV maker Tesla raised $226 million in its 2010 IPO at a market value of about $1.6 billion. It is now the world's most valuable automaker, worth more than $1.3 trillion. But even that track record and investor appeal may not be enough in today's IPO market, analysts cautioned. "We don't believe that SpaceX can escape the realities of the U.S. IPO marketplace, in the sense that it has become a buyer's market," said Josef Schuster, CEO of IPO research firm IPOX. "Even strong IPO candidates in hot sectors need to show flexibility in pricing their deal and potentially need to price downward for IPO success." Others warned that a wave of large listings could strain investor demand more broadly, particularly if multiple mega deals hit the market at the same time. "There is an old market saying that bull markets end when the money runs out, and there are plenty of historic examples where a deluge of IPOs and new stock market entrants, and then subsequent secondary offerings, meant sellers eventually swamped buyers," AJ Bell investment director Russ Mould said. Reporting by Manya Saini in Bengaluru; Editing by Dawn Kopecki, Noor Zainab Hussain and Saumyadeb Chakrabarty Our Standards: The Thomson Reuters Trust Principles., opens new tab * Suggested Topics: * Artificial Intelligence Manya Saini Thomson Reuters Manya covers the most influential U.S. financial institutions, from Wall Street's largest banks and card networks to leading asset managers and fintech companies. She also reports on late-stage venture capital fundraises, initial public offerings on U.S. exchanges and regulatory developments shaping the cryptocurrency industry. Her work appears across the finance, markets, business and future of money sections of the Reuters website. She holds a bachelor's degree in political science from the University of Delhi and a master's in journalism from the Symbiosis Institute of Media and Communication.
Anthropic economics chief talks about the jobs that could be killed by AI | Fortune
Oil was at $109 this morning after rising above $111 earlier in the day. S&P 500 futures were flat this morning. The index rose 0.44% yesterday. Europe and Asia were relatively calm: Stoxx Europe 600 was up 0.64% and the UK's FTSE 100 was up 0.25% in early trading. Japan's Nikkei 225 was flat. When oil goes up, stocks go down: This chart from Bespoke Investment Group showing the price of oil vs the S&P 500 through Q1 says it all: Greater than 90% of the work done by tech and finance workers could -- in theory -- be replaced by AI, according to data published by Anthropic. But AI adoption in many of these industries is lower than expected, Peter McCrory, head of economics at Anthropic, told Fortune. "I was somewhat surprised that the gap between sort of coding in general, which as we point out had something like 94% theoretical exposure, but then based on actual adoption, it was closer to 30% of the tasks across all the jobs in that pocket of the economy," he said. Anthropic's annual recurring revenue has surpassed OpenAI's for the first time, according to research from Jefferies analysts Brent Thill and Maximilian Joseph: Negotiators on both sides of the Iran conflict are pessimistic that they will come to an accord before President Trump's latest deadline for a deal expires at 8 p.m. this evening. Trump has threatened to bomb Iran's civilian infrastructure -- bridges, power plants, and so on -- if Tehran doesn't propose something acceptable to him. Trump has set, and then extended, deadlines multiple times. The Iranians don't believe that Trump will let up in his missile assault on the country, the Wall Street Journal reports. Trump has said "the entire country" of Iran "can be taken out in one night." One way to do that would be with BLU-114/B bombs, according to Fortune's Eva Roytburg. The bombs don't destroy power infrastructure with explosives. Instead they release clouds of chemically treated carbon fiber filaments that drape over transformers and high-voltage lines, causing short circuits that cascade throughout the grid. See that tiny block of red data on the far right of this CDC chart, which I have helpfully marked with an asterisk? That's a new strain of COVID called "Cicada" (officially BA.3.2) which "has a highly mutated genetic sequence that some experts fear could enable it to evade some of our immunity from vaccination or a past COVID infection," according to Katelyn Jetelina, the respected author of the YLE epidemiology Substack. Although Cicada is spreading fast -- 23 countries so far -- it has not led to a significant wave of new COVID cases ... yet. Why is it called "Cicada"? Because the variant, descended from an ancestor first detected in 2022, has been underground for years, according to T. Ryan Gregory a professor of evolutionary biology at the University of Guelph in Ontario. Sam Altman says AI superintelligence is so big that we need a 'New Deal.' Critics say OpenAI's policy ideas are a cover for 'regulatory nihilism' - Sharon Goldman JPMorgan CEO Jamie Dimon predicts AI will cut the workweek down to 3.5 days -- and tells Gen Z developing EQ is more important than ever - Emma Burleigh A quantum threat to Bitcoin has some asking the unthinkable: Is it time to freeze old wallets belonging to Satoshi Nakamoto? - Jeff John Roberts AI is cutting 16,000 U.S. jobs a month -- and Gen Z is taking the brunt, Goldman Sachs says - Nick Lichtenberg Fidji Simo's medical leave from OpenAI puts a spotlight on one of the most expansive roles in tech - Emma Hinchliffe "It is clear from looking at capital raising in recent years that the flows into direct lending and core private-equity funds have already started to contract. The global capital raised for private debt and private equity in 2025 was 11% less than in 2024, while capital raised for venture and buyout funds was down 21% and 16%, respectively," according to Alliance Bernstein's Inigo Fraser Jenkins and Alla Harmsworth. The year-on-year increase in household spending on gasoline via credit and debit cards, according to March data published by Shruti Mishra and Aditya Bhave of Bank of America. In a pithy, single-paragraph note to clients titled "Hormuz Is Your Problem," on what might happen in the markets once the Iran war is concluded, Piper Sandler's head of U.S. policy research Andy Laperriere warned that the Iraq wars of 23 and 35 years ago will be no guide to traders. "We have been perplexed by the number of people drawing parallels to the 1991 and 2003 wars against Iraq and assuming it is only a matter of time before stocks rip to the upside (as they did after both of those wars). Unlike those conflicts, the result is not going to be a resounding U.S. military victory in which the enemy is thoroughly vanquished. Moreover, unlike in those other conflicts, a lot more damage to energy infrastructure has occurred, a lot more energy production has ceased, the flow of oil has been massively disrupted, and an opening of the Strait of Hormuz is far from assured anytime soon," he wrote. As for President Trump's belief that the Strait of Hormuz "will open up naturally" once his assault on Tehran is over: "That seems optimistic," Laperriere said.
Analysis-Blockbuster SpaceX listing could suck the oxygen out of fragile IPO market
April 7 (Reuters) - As Elon Musk's SpaceX closes in on a $75 billion IPO that could rewrite record books, concerns are mounting that others looking to list in 2026 may find it harder to get deals done under the shadow of the space venture's headline-grabbing debut. U.S. markets, prized for their depth, face a critical test, as more than half a dozen analysts and industry experts told Reuters that the SpaceX deal would likely absorb an outsized share of investor demand, squeezing out other hopefuls. "History tells us that a mega IPO like SpaceX can suck up the oxygen in the market. We saw that with Facebook in 2012," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. "IPOs are a major marketing event, and companies wouldn't want the noise from a SpaceX offering to drown out coverage of their own deals. So, listing activity may die down a bit during the weeks surrounding the SpaceX IPO." Companies have waited years on the sidelines for favorable IPO conditions after a prolonged dry spell. A listing like SpaceX, with its celebrity billionaire CEO, hot industry and deep-pocketed backers, could have provided the jolt others need to push ahead. Instead, its sheer scale threatens to overshadow others, with Wall Street banks and investors pouring a majority of their attention, and money, into the operator of the Starlink constellation of satellites. Thirty-five IPOs have priced so far this year, according to data from Renaissance Capital, down 37.5% from a year earlier. That could worsen in the months ahead, clouding hopes of a broader market resurgence in 2026. DISRUPTIONS WEIGH ON IPO MARKET The IPO market has lined up its biggest pipeline in decades, analysts and bankers said. But the war in Iran, spiking oil prices, private credit concerns and AI-led disruption to legacy software firms have set a high bar for which deals successfully break through the volatility - and which ones get left behind. Now, alongside these disruptions, companies eyeing IPOs must also compete for attention in a market dominated by SpaceX headlines. While bankers will probably advise their biggest clients against competing against SpaceX, smaller listings may benefit, said Michael Ashley Schulman, partner at wealth management firm Cerity Partners. "Smaller IPO debuts may benefit from a tag-along effect in retail enthusiasm that could mentally lump IPOs together under the assumption that if one does well, others will too," he said. MORE MEGA DEALS TO COME Timing an IPO is often as crucial to a listing's success as the company's fundamentals. May through June is typically the best window before a summer lull that defers larger offerings to the fall. While Musk is hoping to take SpaceX public in June, according to bankers, OpenAI and rival Anthropic are reportedly aiming for a debut in the second half of the year. "The attention that these mega IPOs take from the market could push a broadly open IPO window into 2027," PitchBook analyst Kyle Stanford said in a report. The report added that if SpaceX raises between $50 billion and $75 billion, while OpenAI and Anthropic raise another $50 billion combined, that would roughly match the total raised by U.S. VC-backed company IPOs over the past decade. "Media attention is not the only thing these mega IPOs could absorb. IPO underwriting would be constrained by the amount these companies are able to raise," Stanford wrote. 'MUSKONOMY' VS MARKET REALITIES To be sure, it's uncharted territory - no offering of this size has been attempted before. Analysts and experts said the absence of any clear precedent or comparable listing leaves investors with little to anchor expectations, making it harder to gauge how the market will respond to SpaceX's IPO. "SpaceX is going to be big, no doubt about it," said James Angel, faculty affiliate at Georgetown McDonough's Psaros Center for Financial Markets and Policy. "The combination of well-known brands like X and Starlink, along with the magic of AI, the dream of space, and Musk's magic means that the investment bankers will have little trouble generating interest in the stock." Elon Musk has built a track record of pulling in investor demand across cycles, with his ventures often dominating attention. His empire, dubbed "Muskonomy" by analysts, creates a concentration of capital that few offerings can match. That concentration of investor interest is not just theoretical, it has played out in past listings. Musk's EV maker Tesla raised $226 million in its 2010 IPO at a market value of about $1.6 billion. It is now the world's most valuable automaker, worth more than $1.3 trillion. But even that track record and investor appeal may not be enough in today's IPO market, analysts cautioned. "We don't believe that SpaceX can escape the realities of the U.S. IPO marketplace, in the sense that it has become a buyer's market," said Josef Schuster, CEO of IPO research firm IPOX. "Even strong IPO candidates in hot sectors need to show flexibility in pricing their deal and potentially need to price downward for IPO success." Others warned that a wave of large listings could strain investor demand more broadly, particularly if multiple mega deals hit the market at the same time. "There is an old market saying that bull markets end when the money runs out, and there are plenty of historic examples where a deluge of IPOs and new stock market entrants, and then subsequent secondary offerings, meant sellers eventually swamped buyers," AJ Bell investment director Russ Mould said. (Reporting by Manya Saini in Bengaluru; Editing by Dawn Kopecki, Noor Zainab Hussain and Saumyadeb Chakrabarty)
Anthropic expands infrastructure partnership with Broadcom, Google
Anthropic said overnight on Tuesday that it had expanded its infrastructure partnership with Google and Broadcom, securing multiple gigawatts of next-generation TPU computing capacity from 2027 as the artificial intelligence group moved to meet surging demand for its Claude models. The privately-held company said in a press release that the new agreement marked its largest compute commitment to date and would support its frontier models and growing global customer base. Anthropic said most of the new capacity would be located in the United States, extending a previously-announced $50bn commitment to strengthen US computing infrastructure. It said its run-rate revenue had surpassed $30bn, up from about $9 billion at the end of 2025, while the number of business customers spending more than $1m a year had risen to more than 1,000 from over 500 in February. Chief financial officer Krishna Rao said the agreement with Google and Broadcom reflected a "disciplined approach to scaling infrastructure" as the company sought to keep pace with "unprecedented growth". A separate Broadcom filing disclosed that Anthropic would gain access to about 3.5 gigawatts of computing capacity through Broadcom using Google's AI processors, starting in 2027. The Financial Times reported that Anthropic's overall new agreements could provide close to 5GW of additional compute capacity over the coming years, implying commitments that could run into the hundreds of billions of dollars given the cost of building out such infrastructure. Broadcom also said it had agreed to develop future generations of Google's tensor processing units and to supply networking and related components for Google's next-generation AI racks through 2031. Shares in Broadcom rose in extended trading after the announcement, while analysts cited by CNBC estimated the chipmaker could generate substantial AI-related revenue from Anthropic over the next two years. Anthropic said Amazon remained its primary cloud provider and training partner, and that it continued to work with AWS on Project Rainier, while also using Nvidia GPUs alongside Google TPUs and AWS Trainium chips. That multi-platform strategy, the company said, allowed it to match workloads to the most suitable hardware and provide greater resilience for customers. Anthropic added that Claude remained the only frontier AI model available across Amazon Web Services, Google Cloud and Microsoft Azure. Broadcom's filing also warned that Anthropic's use of the expanded compute capacity would depend on its continued commercial success and said the parties were in discussions with operational and financial partners. At 0534 EDT (1034 BST), shares in Broadcom were up 3.87% in premarket trading in New York at $326.60, while those in Google parent Alphabet were ahead 1.46% at $302.00. Reporting by Josh White for Sharecast.com.
Anthropic, Google, OpenAI team up to fight model copying in China
OpenAI (OPENAI), Anthropic (ANTHRO), and Alphabet's (GOOG) (GOOGL) Google have started working together to clamp down on Chinese competitors extracting results from U.S. AI models to gain an edge in the global AI race, Bloomberg News reported. The companies are It allows Chinese firms to replicate U.S. AI capabilities, undercut pricing, and potentially siphon customers, posing economic and national security risks. They aim to detect and prevent unauthorized imitation of their AI models, sharing information to protect economic interests and national security. Uncertainty over antitrust rules restricts the extent of info sharing, and they need clearer government guidance to counter threats effectively.
Analysis-Blockbuster SpaceX listing could suck the oxygen out of fragile IPO market
April 7 (Reuters) - As Elon Musk's SpaceX closes in on a $75 billion IPO that could rewrite record books, concerns are mounting that others looking to list in 2026 may find it harder to get deals done under the shadow of the space venture's headline-grabbing debut. U.S. markets, prized for their depth, face a critical test, as more than half a dozen analysts and industry experts told Reuters that the SpaceX deal would likely absorb an outsized share of investor demand, squeezing out other hopefuls. "History tells us that a mega IPO like SpaceX can suck up the oxygen in the market. We saw that with Facebook in 2012," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. "IPOs are a major marketing event, and companies wouldn't want the noise from a SpaceX offering to drown out coverage of their own deals. So, listing activity may die down a bit during the weeks surrounding the SpaceX IPO." Companies have waited years on the sidelines for favorable IPO conditions after a prolonged dry spell. A listing like SpaceX, with its celebrity billionaire CEO, hot industry and deep-pocketed backers, could have provided the jolt others need to push ahead. Instead, its sheer scale threatens to overshadow others, with Wall Street banks and investors pouring a majority of their attention, and money, into the operator of the Starlink constellation of satellites. Thirty-five IPOs have priced so far this year, according to data from Renaissance Capital, down 37.5% from a year earlier. That could worsen in the months ahead, clouding hopes of a broader market resurgence in 2026. DISRUPTIONS WEIGH ON IPO MARKET The IPO market has lined up its biggest pipeline in decades, analysts and bankers said. But the war in Iran, spiking oil prices, private credit concerns and AI-led disruption to legacy software firms have set a high bar for which deals successfully break through the volatility - and which ones get left behind. Now, alongside these disruptions, companies eyeing IPOs must also compete for attention in a market dominated by SpaceX headlines. While bankers will probably advise their biggest clients against competing against SpaceX, smaller listings may benefit, said Michael Ashley Schulman, partner at wealth management firm Cerity Partners. "Smaller IPO debuts may benefit from a tag-along effect in retail enthusiasm that could mentally lump IPOs together under the assumption that if one does well, others will too," he said. MORE MEGA DEALS TO COME
3 ways a SpaceX IPO could reshape the stock market as we know it
Did you hear about the trend in markets that was red-hot until the Iran war came and threw cold water on it? I could be talking about any number of things. But, in honor of SpaceX's recent filing to go public, I'm speaking specifically today about the IPO market. On the surface, 2026 has started strong enough. The $24 billion in proceeds raised by IPOs in the first quarter is nearly double the same period in 2025. But after the start of the Iran war in late February, the IPO count and total capital raised were cut in half in March, Bloomberg data shows. The fact that SpaceX is forging ahead with an offering during macro instability tells you how confident CEO Elon Musk is in the company's public-market prospects. And, despite its immense size (the latest reports say SpaceX is seeking a valuation north of $2 trillion), the offering itself will pale in comparison to the wide-reaching impact it has on the IPO market and other companies overall. Here are three major considerations as SpaceX prepared to reshape public markets: SpaceX going public is expected to add legitimacy to an industry that was previously treated as a high-risk frontier investment. A re-rating of space stocks has already started occurring across multiple subsectors. Rocket Lab, the purest comp for SpaceX, is up 7% since reports of the IPO filing. Other launch-adjacent names like Firefly Aerospace and Intuitive Machines have seen even bigger gains of roughly 25%, while satellite providers like Planet Labs and Viasat are up double-digit percentages over the period. One controversial development associated with the SpaceX IPO has been Nasdaq's proposed "fast entry" rule. Basically, Nasdaq wants SpaceX to be in the tech-heavy Nasdaq 100 index as soon as possible, so they're considering shortening the inclusion timeline from three months to 15 days. While this would hasten the ability of everyday investors to buy exposure to SpaceX, it also could ramp up concentration risk. The argument goes: If a few market-cap titans can dictate the direction of a whole index, that's too much power, and leaves the gauge vulnerable. It's a dynamic investors have contended with for years amid the rise of the Magnificent 7. As SpaceX prepares for its public debut, other private juggernauts like OpenAI and Anthropic will be watching closely. How SpaceX fares could ultimately determine when they file to go public, how much they'll aim to raise, which banks they hire, and which exchange they list on. The market and its assorted dynamics could feel very different once the holy trinity of private tech unicorns is fully public. Stay tuned for more updates on SpaceX's maiden voyage.