News & Updates
The latest news and updates from companies in the WLTH portfolio.
OpenAI generates $5.7Bn revenue in Q1 2026, around $1Bn ahead of Anthropic: Report - The Tech Portal
OpenAI has reportedly generated about $5.7 billion in revenue in the first quarter of 2026, marking one of the strongest quarters yet for the ChatGPT maker. The growth was driven by rising demand for ChatGPT subscriptions, enterprise AI tools, developer APIs, and especially coding products like Codex, which have seen rapid adoption among software teams and large businesses, reports The Information. The Sam Altman-led firm is now reportedly generating around $2 billion in monthly revenue, while also expanding into newer areas like AI-powered advertising inside ChatGPT. The latest numbers put the ChatGPT maker around $1 billion ahead of Anthropic, which reportedly generated around $4.8 billion during the same period. A major contributor to the company's growth has been its expanding AI coding ecosystem. Products like Codex and newer autonomous coding tools are becoming increasingly important as businesses look for ways to improve developer productivity and reduce engineering costs. AI-powered coding assistants are now considered one of the most commercially valuable segments in the AI industry because they can automate repetitive programming tasks, generate production-ready code, debug applications, write documentation, and assist with infrastructure management. OpenAI has been aggressively competing in this market against products like Anthropic's Claude Code, GitHub Copilot, Google's Gemini coding systems, and others. The company's API business has also emerged as a critical revenue engine. Thousands of startups and enterprise software providers now rely on OpenAI models as foundational infrastructure for AI-powered applications instead of building their own large language models. The ChatGPT maker's rapid financial expansion comes despite huge operating costs associated with training and running advanced AI systems. The company continues to spend heavily on GPUs, cloud infrastructure, data centers, and next-generation model development as competition intensifies across the AI sector. Meanwhile, OpenAI's most recent $122 billion funding round in March valued the company at around $852 billion, making it one of the world's most valuable private technology firms. However, at the same time, Anthropic is emerging as OpenAI's strongest commercial challenger. Founded by former OpenAI researchers, the company reportedly expects its second-quarter revenue to nearly double to around $11 billion while projecting about $600 million in profit. The profitability forecast is particularly notable because most frontier AI companies remain deeply unprofitable due to massive infrastructure and training expenses. Anthropic's growth trajectory has accelerated sharply over the past year. Earlier reports suggest the company's annualised revenue has climbed to about $45 billion, overtaking OpenAI's reported annualised revenue figure of around $25 billion. The jump is especially dramatic considering Anthropic's annualised revenue reportedly stood near $9 billion at the end of last year. Most importantly, investors' interest in the company has surged along with that growth. For example, recent reports indicated that Anthropic had agreed to terms for a new $30 billion fundraising round that could value the company at around $900 billion - potentially surpassing OpenAI's latest valuation. Notably, Anthropic had previously been valued at around $380 billion following another major funding round completed in February. The Tech Portal is published by Blue Box Media Private Limited. Our investors have no influence over our reporting. Read our full Ownership and Funding Disclosure →
SpaceX Pursues Massive 10GW Solar Manufacturing Plant in Texas for Space AI Operations - Blockonomi
SpaceX has submitted an S-1 filing for a public offering, aiming for a Nasdaq listing by mid-June 2026 with the ticker symbol SPCX and a prospective valuation surpassing $1 trillion. SpaceX is moving forward with plans to construct one of America's most substantial solar manufacturing operations. Documentation filed with Bastrop County authorities in Texas, accessed by Bloomberg News, reveals the aerospace company's intention to develop a 10-gigawatt solar production complex in the Austin metropolitan area. The proposed installation would be situated in Bastrop, a location where SpaceX currently operates an extensive Starlink manufacturing center with a staff exceeding 1,000 workers. This new development would essentially expand the company's local operations to twice their current scale. According to the submitted permit documentation, the manufacturing complex is structured as a two-story building. Each level would have the capacity to generate five gigawatts of solar cell production. The manufactured solar cells are intended to energize advanced Starlink satellite systems and facilitate[[LINK_START_0]] Elon Musk's[[LINK_END_0]] ambitious concept of space-based AI computing facilities. These space-deployed data centers would leverage uninterrupted solar energy, circumventing the power limitations that challenge terrestrial AI infrastructure. Musk outlined this strategic vision during his January appearance at the World Economic Forum. He identified solar energy as the solution to overcome the energy limitations currently hampering AI advancement. During that presentation, he revealed an ambitious target for SpaceX and Tesla combined: establishing 100 gigawatts annually of solar manufacturing capacity within the United States over the following three years. Such production volume would dramatically surpass existing domestic manufacturing capabilities. The Austin Business Journal previously reported evidence of significant construction activity at the location, projecting the facility's footprint could surpass one million square feet. SpaceX submitted its S-1 registration statement this week, outlining its strategy for a public stock offering on the Nasdaq exchange using the ticker symbol SPCX. The company anticipates completing its market debut by mid-June 2026 at the earliest. Financial analysts have projected the company's market capitalization could surpass $1 trillion, positioning it among the most significant initial public offerings in financial market history. The IPO documentation also outlined intentions to enlarge the Bastrop facility, manufacture next-generation Starlink products, and increase solar cell production capacity in conjunction with the new manufacturing plant. Construction activities at the Bastrop location have already commenced. Proceeds from the public stock offering are anticipated to finance Starship rocket development, Starlink network expansion, and the construction of the company's space-based AI computing infrastructure. SpaceX has not issued public statements regarding the permit submissions or verified the complete project parameters beyond information contained in the official documents and the S-1 registration filing.
Here are the key takeaways for chip stocks from SpaceX's S-1 Filing By Investing.com
Investing.com -- SpaceX's S-1 filing contains several significant data points for semiconductor investors, with Nvidia emerging as the primary chip supplier to the company's AI clusters and Intel named as a key partner in a major new fabrication facility, according to Wolfe Research. In a note from analyst Liz Pate, Wolfe said SpaceX operates two AI clusters, with Colossus 1, a roughly 130-megawatt cluster running approximately 100,000 H100 GPUs, and Colossus II, currently a 430-megawatt site running around 110,000 GB200 and 110,000 GB300 accelerators. Total planned Colossus II capacity includes an additional 400 megawatts of compute and approximately 220,000 additional GB300 processors, bringing total planned capacity across both sites to 1 gigawatt. On capital expenditure, Wolfe noted that SpaceX's first-quarter 2026 AI spend of $7.7 billion implies annualized spending of more than $30 billion, up sharply from $12.7 billion in fiscal 2025, with the filing suggesting further acceleration ahead. Wolfe highlighted Terafab, a large-scale chip fabrication facility announced in the first half of 2026, as another key data point, with Intel named as a partner citing its expertise across design, fabrication and packaging. The facility is said to be targeting an annual production of approximately 1 terawatt of compute hardware, though Wolfe noted there are currently no specific disclosures on timeline or capital expenditure. Perhaps most notably for the longer-term outlook, SpaceX is aiming to launch AI compute satellites as early as 2028, targeting 100 gigawatts in satellite constellation-driven compute capacity annually, an ambition Wolfe said will mandate thousands of annual launches.
South Korea to Determine Whether Polymarket's Offering Is Legal
Polymarket is available in South Korea and offers services in the Korean language The undisputed growth of prediction markets has attracted the attention of South Korean authorities, who will now review the Polymarket platform to determine whether its products violate the local law. The Korea Communications Standards Commission has initiated a review into the leading event contracts platform Polymarket to see whether its services constitute gambling under the local law. The review comes in response to a complaint related to the platform. For context, prediction market operators insist that the products they offer do not constitute gambling due to a variety of factors, including their peer-to-peer nature. Instead of playing against the house, players trade shares in the outcomes of events against one another, with the platform taking a cut from share purchases. This format has become a major point of contention, especially in North America. In South Korea, meanwhile, the Communications Standards Commission will carefully examine the matter and will also look into foreign regulatory cases to determine whether Polymarket violates the local gambling laws. For context, Polymarket is not only available in South Korea but also has services in the local language and is actively targeting local customers. The South Korea probe comes amid broader concerns about gambling and underage gambling in the country. In the meantime, Polymarket continues to face regulatory headwinds in other markets, too, including the US, where prediction markets have become a very divisive matter. While event contract operators continue to insist that their products are not gambling, regulators, tribal authorities, and some gambling industry stakeholders have begged to differ. One of the major complaints against the sector is that it circumvents local gambling regulations since prediction markets are regulated not by local gambling regulators, but by the Commodity Futures Trading Commission, which allows them to operate in all 50 states. Another major issue has been insider trading concerns. While several states have taken action against prediction markets, this has only prompted lawsuits by the CFTC. Beyond the US, several markets have designated Polymarket as an illegal gambling platform and taken action to prevent it from offering its products locally. These include Australia, Argentina, Brazil, France, Germany, India, Italy, New Zealand, Singapore, Thailand, and Ukraine.
Anthropic set for first profitable quarter as OpenAI and xAI continue burning billions - Tech Startups
Artificial intelligence companies have spent the past three years burning cash at a pace Silicon Valley has rarely seen. Billions have gone into GPUs, data centers, talent wars, and training larger AI models. Profitability felt far away, almost irrelevant. Now, Anthropic may be about to change that narrative. The San Francisco AI startup is on track to post its first profitable quarter, putting it ahead of rivals OpenAI and xAI in the race to prove that frontier AI can become a sustainable business and not just an expensive science experiment. "Anthropic is poised to achieve its first profitable quarter ahead of rivals OpenAI and Elon Musk's xAI after a period of soaring revenues at the company," The Financial Times reported. Anthropic has told investors it expects second-quarter revenue to hit $10.9 billion, more than double the $4.8 billion it generated in the first quarter. The company is projected to post an operating profit of roughly $559 million for the quarter. "The San Francisco-based AI group has told investors that its revenue for the second quarter of 2026 will be $10.9bn, more than double the $4.8bn posted for the first three months of the year," The Financial Times added, citing people familiar with the matter. The numbers mark a major shift in the AI industry. For much of the generative AI boom, the focus centered on growth at any cost. AI labs raised massive funding rounds and spent aggressively to train larger models and secure enough computing capacity to stay competitive. Anthropic's projected profitability suggests the business side of AI may be maturing faster than many expected. The company is reportedly close to finalizing a $30 billion funding round that would value it at roughly $900 billion. That places Anthropic among the most valuable private technology companies in the world and strengthens its position ahead of a possible IPO later this year. At the same time, rivals continue posting staggering losses tied to infrastructure spending. According to The Information, OpenAI generated about $5.7 billion in first-quarter revenue, outperforming Anthropic on overall sales. Growth has been fueled by enterprise adoption, premium AI products, ChatGPT subscriptions, early advertising tests, and demand for its Codex coding agent. Still, profitability remains years away. OpenAI has reportedly told investors it does not expect to become profitable until 2030 and may spend more than $600 billion before reaching that point. The company has been raising capital aggressively as it builds out computing infrastructure to support future AI models and global demand. Elon Musk's xAI is facing similar pressures. The company, now merged with SpaceX, has invested heavily in AI infrastructure and large-scale data center projects. SpaceX disclosed this week that its AI operations posted an operating loss of $6.4 billion. Anthropic is hardly slowing its own spending. The company has reportedly agreed to spend $15 billion annually on computing power from SpaceX, according to SpaceX's prospectus filed with U.S. regulators. Anthropic has signed separate long-term infrastructure agreements with Google and Amazon that could eventually amount to hundreds of billions of dollars in additional spending. That spending spree reflects a broader reality inside the AI race. Revenue is climbing fast across the industry, yet the cost of staying competitive keeps climbing too. Anthropic declined to comment on the financial projections. The Wall Street Journal previously reported details tied to the company's quarterly performance and IPO discussions. The bigger takeaway is becoming harder to ignore: generative AI is no longer just attracting users and headlines. It is starting to produce real enterprise revenue at a scale large enough to reshape the economics of the software industry.
U.S. Lawmakers Launch Probe Into Kalshi and Polymarket Over Insider Trading Concerns
House Oversight Committee requested records on identity verification, suspicious trades, and geographic restrictions from platforms. U.S. lawmakers have officially launched an investigation into prediction market platforms Polymarket and Kalshi over concerns that government insiders could be using non-public information to profit from bets tied to elections, wars, and major political events. The probe comes as prediction markets rapidly grow in popularity across crypto and retail trading. In a recent press release, House Oversight Committee Chair James Comer confirmed that the committee is investigating whether government insiders could be using non-public information to profit from prediction markets. Comer sent formal letters to Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour requesting detailed information about how the platforms monitor suspicious activity and prevent insider trading. The committee specifically asked how the companies verify user identities, enforce geographic restrictions, and detect unusual trading patterns. Lawmakers also requested records explaining how the platforms handle domestic and international users. The companies were asked to respond by June 5. According to Comer, internal trading records may be the only way to identify whether government officials or insiders have used confidential information to place profitable bets. Platforms like Polymarket and Kalshi allow users to trade on the outcome of future events ranging from elections and sports to interest rates, wars, and political decisions. The sector exploded in popularity during recent U.S. elections and major geopolitical events, with millions of dollars flowing into high-profile prediction contracts. However, that rapid growth has also raised concerns among regulators and lawmakers. Comer warned that members of Congress, government employees, or officials connected to the presidential administration could potentially use insider information unavailable to the public. He said lawmakers are now exploring whether new legislation may be needed to limit or completely ban government officials from participating in prediction markets. The latest investigation adds another layer of pressure to an industry already facing growing regulatory attention. Prediction markets operate in a complicated legal area involving gambling laws, financial regulations, commodities oversight, and crypto trading rules. At the same time, supporters argue prediction markets provide valuable public forecasting data and market-based insights around major events.
House Oversight chair seeks data from Kalshi and Polymarket CEOs on suspicious bets
Comer directed both firms to submit the requested materials and communications by June 5. The House Oversight Committee has launched an investigation into prediction markets Kalshi and Polymarket over concerns about insider trading. Committee Chair James Comer told CNBC's "Squawk Box" on Friday that he sent letters to Polymarket CEO Shayne Coplan and Kalshi CEO Tarek Mansour requesting internal documents on identity verification, geographic restrictions, and anomalous trading detection, with a deadline of June 5. The probe follows rising scrutiny from lawmakers after several high-profile incidents, including a US soldier allegedly profiting from classified knowledge and congressional candidates betting on their own races. Comer stated that access to internal company records is necessary to determine whether users are engaging in insider trading and whether the platforms are adequately enforcing legal safeguards. Comer said that the probe aims to build a case for legislation that would ban government employees and members of Congress from participating in these markets. Prediction markets have seen rapid growth in recent years, allowing users to bet on outcomes involving elections, sports events, policy decisions, and entertainment awards. Their growing influence has also raised concerns among lawmakers and regulators about the possibility that individuals with privileged government information could use the platforms for personal profit. Kalshi has faced separate criticism after several political candidates were found betting on their own campaigns through the platform. In April, the company suspended three congressional candidates linked to those wagers. Lawmakers from both parties are pushing for tighter regulation of prediction markets. Several bills introduced in Congress seek to address insider trading and other issues connected to online betting platforms. Comer's investigation also follows a request from Democratic lawmakers led by Rep. Chris Pappas asking the Oversight Committee to subpoena prediction market companies.
SpaceX plans Memorial Day weekend rocket launch. When, where to watch
If you're looking for something fun to do in California during the long Memorial Day weekend, SpaceX is planning another rocket launch at the Vandenberg Space Force Base. Looking for something fun to do during the long Memorial Day weekend? Why not try to catch a rocket launch in California? SpaceX is planning to get its Falcon 9 rocket off the ground from the Vandenberg Space Force Base on a mission to deploy the company's Starlink broadband internet satellites to Earth orbit. Falcon 9 launches are common enough in Southern California that plenty of places have become popular among spectators. Just be warned that for the next mission, you'll have to get up early to catch it in the morning. Also keep in mind that postponements due to weather or issues with rockets are common with spaceflight. Check back with the VC Star for any updates on the impending launch. In the meantime, here's what to know about the upcoming SpaceX rocket launch from Vandenberg in Santa Barbara County, as well as where to watch it. Is there a rocket launch today? Next mission from Vandenberg in California SpaceX is working toward a Sunday, May 24, launch from Southern California, with a four-hour launch window opening at 7 a.m. PT. A Federal Aviation Administration operations plan advisory suggests a backup opportunity is available the next day if the launch were to be postponed. Where is the next launch from California? What to know about trajectory The launch will take place from Space Launch Complex 4-East (SLC-4E,) which SpaceX leases as a launch site for its Falcon 9 rocket at the Vandenberg Space Force Base in Santa Barbara County. As has become typical in 2026, the rocket will fly at a southern trajectory. What is launching from Vandenberg? SpaceX to deploy Starlink satellites SpaceX will launch its famous two-stage 230-foot Falcon 9 rocket, one of the world's most active, to deliver 24 Starlink satellites into low-Earth orbit, an altitude nearer Earth's atmosphere where they're able to circle the planet quickly. Where to watch California rocket launches in Santa Barbara County Because Vandenberg is an active military base, the launch complex does not host public viewings of launches. But if conditions are clear, rocket launches from the Vandenberg Space Force Base can be viewed from several locations as far as Santa Barbara and Los Angeles. Space Launch Schedule, a website dedicated to tracking upcoming rocket launches, provided a list of places in Santa Barbara County in California to catch the launch in person: * 13th Street and Arguello Boulevard, a public site with the closest views of SpaceX launches * Floradale Avenue and West Ocean Avenue, officially designated as the "viewing site for SLC-6" (space launch complex-6) * Renwick Avenue and West Ocean Avenue, another intersection close to the base where spectators can park * Santa Lucia Canyon Road and Victory Road, provides a partial view of Complex 4. The city of Lompoc in Santa Barbara County is filled with places to catch a rocket launch. The city's tourism bureau, Explore Lompoc, maintains this list with additional viewing locations: * Ocean Park, 6851 Ocean Park Road, Lompoc, which, while it doesn't have a view of the launch pad itself, is located only four miles from the launch site and provides a good vantage to see rockets get off the ground. Parking is limited, and law enforcement will close the road to the beach once parking is full. * Allan Hancock College, 1 Hancock Drive, Lompoc, a community college located nine miles from the launch site where the launch pad and rocket's tip can be seen before liftoff. * Riverbend Park, N A Street and McLaughlin Road, Lompoc, located within 10 miles of the launch site, is filled with large fields for activities or for spectators to set up chairs. * Surf Beach on Ocean Avenue, one of the closest and most popular places to watch rocket launches near Lompoc, as long as it's open and accessible. But a word of caution: There is an active train track, the Amtrak Surf Station, that visitors must cross. While trains don't run during launch windows, the vehicles could start up again with little warning if a liftoff is scrubbed. Where to watch California rocket launches in Ventura County Visit Ventura, the tourism bureau in Ventura County, provided a list to the USA TODAY Network of suggested locations to see a rocket launch from the county: * Ventura Pier, 750 E. Harbor Blvd, is known as the oldest pier in all of California. * Emma Wood State Beach, located on the Santa Barbara Channel south of U.S. 101. * Serra Cross Park at Grant Park, located just above San Buenaventura City Hall, 501 Poli St., Ventura, offers a panoramic seascape view. * San Buenaventura State Beach, 901 San Pedro St., Ventura, located adjacent to the Ventura Pier. * Cemetery Memorial Park, Main Street and South Crimea Street, Ventura Where to watch California rocket launches in San Luis Obispo County SLO CAL, a countywide destination marketing and management organization, maintains a list of its recommended best locations to watch a rocket launch in San Luis Obispo County to the north of the launch site: * Avila Beach, located off U.S. 101, has a variety of restaurants and shops for those looking to make a day of their rocket-viewing plans. * Pismo Beach, a city with a vibrant downtown stretch located just 38 miles away from Vandenberg * Shell Beach, a neighborhood in Pismo Beach that is home to several parks, including Eldwayen Ocean Park and Margo Dodd Park, both on Ocean Boulevard; and Dinosaur Caves Park (2701 Price St.) that are mostly dog-friendly and open to the public * Oceano Dunes, the closest place to view launches from the county with open spaces along the ocean allowing full visibility of the sky * Morro Strand State Beach, a three-mile stretch between the coastal city Morro Bay and the town of Cayucos. Cayucos' south-facing beaches should have great views of Vandenberg. Other cities in California where rockets may be visible Other cities in California where you might glimpse the Falcon 9 rocket soaring overhead - particularly after sunset and before sunrise - as it climbs into the sky on a southern trajectory include: * Long Beach, a city popular with tourists known for its waterfront attractions, located about 180 south of the launch site along the southern coast of California * Lake Forest, located about 200 miles south of the launch site along the southern coast of California * San Diego, located about 280 miles south of the launch site along the southern coast of California * Merced, located more than 200 miles north of Vandenberg in the San Joaquin Valley * Hesperia, a town surrounded by the Mojave Desert located more than 200 miles east of the launch site * Anaheim, where Disneyland is located, located less than 200 miles southeast of the launch site What to know about booster re-entry Following the launch, the Falcon 9 rocket's booster will aim to land on a SpaceX drone ship, nicknamed "Of Course I Still Love You," in the Pacific Ocean. This allows for SpaceX personnel to recover the booster so it can be reused in future spaceflights. Will there be sonic booms? Residents of Santa Barbara County, San Luis Obispo County and Ventura County often stand to be the most likely to hear sonic booms, SpaceX said. The sonic booms - brief, thunder-like noises that are often heard from the ground when a spacecraft or aircraft travels faster than the speed of sound - could last for up to 10 minutes after liftoff, Vandenberg has added. That's because the booster falls back through the atmosphere still traveling at supersonic speeds and, as it slows down, generates shock waves that sound like one or more loud booms on the ground. Meanwhile, "areas local to Vandenberg Space Force Base will hear the initial low rumble of take-off," Vandenberg also warns before launches. Does Elon Musk own SpaceX? What to know about rocket company SpaceX is the commercial spaceflight company that billionaire Elon Musk, the world's richest man, founded in 2002 and leads as the CEO. SpaceX is headquartered at Starbase in South Texas near the U.S.-Mexico border. The site, which is where SpaceX has been conducting routine flight tests of its 400-foot megarocket known as Starship, was recently voted by residents to become its own city. As a major government contractor, SpaceX serves as the launch service provider for a variety of government missions both civil and military. For the Department of Defense, SpaceX's Falcon 9 helps launch classified satellites and other payloads into space. And for NASA, Falcon 9 most often helps propel astronauts to the International Space Station on SpaceX's Dragon crew capsule - the only U.S vehicle capable of carrying NASA astronauts to orbit. What is Starlink? Starlink is SpaceX's internet satellite business. With more than 10,000 satellites in its growing orbital constellation, Starlink has become a lucrative part of Musk's business empire, serving millions of customers around the world. SpaceX, which bills itself as the only satellite internet provider with its own reusable rocket capable of deploying the technology, has spent years delivering the satellites to orbit with a regular cadence of rocket launches from Florida and California. Starlink satellites operate from low-Earth orbit, about 341 miles up, which is much closer to Earth's atmosphere than other satellites. That not only allows Starlink satellites to offer high connection speeds than satellites further out in space, but to reach rural areas and regions where internet service is not readily accessible. What is the Vandenberg Space Force Base in California? The Vandenberg Space Force Base is a rocket launch site in Santa Barbara County in Southern California. Established in 1941, the site was previously known as the Vandenberg Air Force Base. Though it's a military base, the site also hosts both civil and commercial space launches for entities like NASA and SpaceX. Space Launch Delta 30, a unit of Space Force, is responsible for managing the launch operations at Vandenberg, as well as the missile tests that take place at the base. Eric Lagatta is the Space Connect reporter for the USA TODAY Network. Reach him at [email protected]
SpaceX seeks Wall Street listing as Starlink and AI ambitions expand
Reports estimate the company is looking to raise up to $80bn, with targets pointing to a valuation between $1.25tn and $1.75tn. SpaceX has formally unveiled plans to go public in the United States in what is expected to become the largest stock market debut in Wall Street history, a move that could push founder Elon Musk into the ranks of the world's first trillionaires. The aerospace and technology company has filed for an initial public offering on the Nasdaq exchange under the ticker symbol "SPCX", with the listing expected to take place as early as next month. Reports indicate the offering could raise between $75bn and $80bn, surpassing the previous IPO record set by Saudi oil giant Saudi Aramco in 2019. Long regarded as one of the world's most valuable private companies, SpaceX has rapidly expanded beyond rocket launches into satellite communications, artificial intelligence and data infrastructure. The company operates the Starlink satellite broadband network and earlier this year absorbed Musk's AI startup xAI into the broader SpaceX group. The company's latest filings value the business at between $1.25tn and $1.75tn, though some reports suggest advisers are targeting a valuation above $2 trillion during investor roadshows. Musk, who also leads electric vehicle manufacturer Tesla, is expected to retain more than 85% voting control in SpaceX through a dual-class share structure. Analysts estimate his stake in the company alone could be worth over $600bn following the flotation. Combined with his holdings in Tesla and other ventures, the IPO could lift his net worth above the $1tn mark. The listing marks a significant shift for Musk, who for years maintained that SpaceX would remain private until the company achieved its long-term ambition of sending humans to Mars. However, the enormous capital requirements linked to artificial intelligence, satellite networks and next-generation space infrastructure appear to have accelerated plans for a public offering. Financial disclosures released alongside the IPO filing revealed that SpaceX generated approximately $18.7bn in revenue in 2025, driven largely by Starlink, which accounted for more than half of total sales. Despite the strong growth, the company reported a net loss of nearly $4.9bn due to heavy investments in AI computing infrastructure, satellite expansion and data-centre development. The filings also outlined SpaceX's increasingly ambitious plans, including orbital data centres, space-based AI infrastructure, asteroid mining projects and long-term Mars colonisation initiatives. The IPO is expected to attract enormous interest from both institutional and retail investors, with market observers predicting it could reshape technology and aerospace investing in the same way landmark listings by Meta Platforms and Alibaba Group did in previous decades.
Microsoft Eyes Anthropic Deal to Expand AI Chip Reach
This article first appeared on GuruFocus. Microsoft (MSFT, Financials) is in talks to supply its custom artificial intelligence chips to Anthropic, a potential win as the software giant tries to catch up with Amazon and Google in AI silicon. The discussions center on Microsoft's Maia chip, which the company announced in January but has not yet made available to Azure customers. A deal has not been signed, CNBC reported, citing a person familiar with the matter. The talks come after Microsoft said in November it would invest $5 billion in Anthropic. As part of that relationship, Anthropic committed to spending $30 billion on Microsoft Azure, while also continuing to use cloud services from Amazon and Google. For Anthropic, the need is clear. CEO Dario Amodei recently said the company has faced compute challenges as demand grows for its Claude assistant and Claude Code programming tool. The company has also secured long-term access to chips and cloud capacity from Amazon, Google and SpaceX. For Microsoft, landing Anthropic as a Maia customer would help validate its custom chip strategy and reduce reliance on Nvidia hardware over time. CEO Satya Nadella has said Maia 200 offers more than 30% better tokens per dollar compared with current silicon in Microsoft's fleet. The next catalyst will be whether Microsoft and Anthropic finalize a chip agreement and whether Maia becomes available more broadly through Azure.
Polymarket under attack: suspicions about a vulnerability
A new cyber attack is shaking the world of cryptocurrencies and prediction markets. According to an alert shared by the ZachXBT community, one of the best-known on-chain investigators, Polymarket, the largest prediction market platform in the world, has allegedly fallen victim to an attack that caused losses exceeding 520,000 dollars. The incident immediately drew the attention of industry operators, raising questions about the security of DeFi infrastructures and the resilience of smart contracts. The attack is said to have focused on the UMA CTF Adapter contract operating on the Polygon chain, one of the most widely used networks for decentralized applications thanks to its low fees and high scalability. In particular, two contracts involved in the incident have been identified: 0x871D7c0f9E19001fC01E04e6cdFa7fA20f929082 and 0x91430CaD2d3975766499717fA0D66A78D814E5c5. These addresses represent the key points through which the attacker is believed to have managed to siphon off the funds. The news of the attack quickly spread across social channels and crypto communities, fueling the debate on the security of prediction market platforms and on the possible vulnerabilities of the smart contracts that govern their operation. Investigators have already identified the Ethereum address associated with the attack: 0x8F98075db5d6C620e8D420A8c516E2F2059d9B91. This wallet, according to initial analyses, is believed to have been used to orchestrate the operation and to transfer the stolen funds. Identifying the address represents a first fundamental step in tracing the attacker's movements and, potentially, attempting to recover the lost sums. The transparency of the blockchain in fact makes it possible to monitor every movement of assets, providing analysts with valuable tools to reconstruct the dynamics of the incident and, in some cases, to trace the identity of those responsible. Polymarket has established itself as the largest prediction market in the world, offering users the opportunity to bet on all kinds of future events, from politics to the economy, from sports to technology. The platform is based on smart contracts that ensure transparency and automation in transactions, making the system theoretically immune to manipulation or external interference. However, as this incident shows, no decentralized system is completely safe from attacks, especially when it comes to digital assets and complex contracts. Security remains one of the main challenges for the sector, which continues to grow, attracting both investors and malicious actors. The loss of over 520,000 dollars represents a severe blow not only for Polymarket, but for the entire prediction market ecosystem. Incidents like this risk undermining the confidence of users and investors, slowing the adoption of innovative solutions based on blockchain. Moreover, the attack highlights the need to strengthen security measures and to subject smart contracts to rigorous audits before their release. The complexity of DeFi applications can in fact conceal bugs or vulnerabilities that, if exploited, can cause significant damage. The crypto community promptly reacted to the alarm raised by ZachXBT, launching in-depth analyses of the contracts involved and of the attacker's address. Collaboration between developers, researchers and users is one of the strengths of the blockchain ecosystem, which often manages to identify and fix flaws in a short time. However, the incident confirms how important it is to keep our guard up and to invest constantly in platform security. Only in this way will it be possible to ensure the sustainable growth of prediction markets and other blockchain-based applications. The attack on Polymarket is a wake-up call for the entire cryptocurrency and decentralized finance sector. The transparency and automation offered by smart contracts represent a huge step forward compared to traditional systems, but they require constant attention and continuous updates to prevent exploits and attacks. The affair highlights the importance of relying on platforms that invest in security and of constantly monitoring suspicious activity on the blockchain. Only through active vigilance and collaboration among all players in the sector will it be possible to build a safer and more reliable ecosystem for users around the world. Polymarket must now face the challenge of winning back the trust of its community, strengthening its defenses and ensuring maximum transparency regarding the ongoing investigations. In the meantime, the attacker's address remains under observation, while analysts continue to track every movement on the blockchain in the hope of recovering at least part of the stolen funds.
Anthropic Is Paying Its Biggest Rival $1.25 Billion Every Month Just To Keep Its AI Running
Anthropic is set to pay rival AI company xAI roughly $1.25 billion per month for access to massive computing infrastructure, in one of the largest known AI compute agreements to date. The deal gives Anthropic access to the full 300 megawatts of output from xAI's Colossus 1 data center near Memphis, Tennessee, a facility designed to power large-scale AI training and inference workloads. The agreement runs through May 2029, though xAI will offer a discounted rate during the first two months while the system reaches full operational capacity, according to TechCrunch. Financial details surfaced through SpaceX's S-1 filing with the SEC, which described the arrangement as a way to monetize unused computing infrastructure. If maintained for the full term, the agreement could generate more than $40 billion in revenue for xAI. The deal highlights how compute power has become one of the most valuable commodities in the AI industry. As companies race to train increasingly advanced models, access to GPUs, energy infrastructure, and data center capacity is becoming just as strategically important as the models themselves. It also signals a growing shift toward the so-called "neocloud" model, where AI firms operate both as model developers and infrastructure providers. Traditionally, companies either built AI systems for internal use or rented infrastructure to external customers. xAI now appears to be doing both simultaneously, using excess capacity to generate revenue while continuing to develop its own products. The arrangement may also reveal broader market dynamics behind the scenes. xAI reportedly expanded its infrastructure aggressively to support products like Grok, its flagship AI assistant, but demand appears to have softened in recent months. Leasing spare compute capacity to Anthropic allows the company to offset the enormous costs associated with maintaining hyperscale AI infrastructure ahead of a potential public offering. For Anthropic, the agreement provides a direct path to securing long-term compute resources at a time when demand for high-end AI hardware continues to outpace global supply. AI companies are increasingly competing not just for talent and users, but for electricity, server capacity, and access to advanced chips capable of training frontier models.
SpaceX plans Memorial Day weekend rocket launch. When, where to watch
If you're looking for something fun to do in California during the long Memorial Day weekend, SpaceX is planning another rocket launch at the Vandenberg Space Force Base. Looking for something fun to do during the long Memorial Day weekend? Why not try to catch a rocket launch in California? SpaceX is planning to get its Falcon 9 rocket off the ground from the Vandenberg Space Force Base on a mission to deploy the company's Starlink broadband internet satellites to Earth orbit. Falcon 9 launches are common enough in Southern California that plenty of places have become popular among spectators. Just be warned that for the next mission, you'll have to get up early to catch it in the morning. Also keep in mind that postponements due to weather or issues with rockets are common with spaceflight. Check back with the VC Star for any updates on the impending launch. In the meantime, here's what to know about the upcoming SpaceX rocket launch from Vandenberg in Santa Barbara County, as well as where to watch it. Is there a rocket launch today? Next mission from Vandenberg in California SpaceX is working toward a Sunday, May 24, launch from Southern California, with a four-hour launch window opening at 7 a.m. PT. A Federal Aviation Administration operations plan advisory suggests a backup opportunity is available the next day if the launch were to be postponed. Where is the next launch from California? What to know about trajectory The launch will take place from Space Launch Complex 4-East (SLC-4E,) which SpaceX leases as a launch site for its Falcon 9 rocket at the Vandenberg Space Force Base in Santa Barbara County. As has become typical in 2026, the rocket will fly at a southern trajectory. What is launching from Vandenberg? SpaceX to deploy Starlink satellites SpaceX will launch its famous two-stage 230-foot Falcon 9 rocket, one of the world's most active, to deliver 24 Starlink satellites into low-Earth orbit, an altitude nearer Earth's atmosphere where they're able to circle the planet quickly. Where to watch California rocket launches in Santa Barbara County Because Vandenberg is an active military base, the launch complex does not host public viewings of launches. But if conditions are clear, rocket launches from the Vandenberg Space Force Base can be viewed from several locations as far as Santa Barbara and Los Angeles. Space Launch Schedule, a website dedicated to tracking upcoming rocket launches, provided a list of places in Santa Barbara County in California to catch the launch in person: * 13th Street and Arguello Boulevard, a public site with the closest views of SpaceX launches * Floradale Avenue and West Ocean Avenue, officially designated as the "viewing site for SLC-6" (space launch complex-6) * Renwick Avenue and West Ocean Avenue, another intersection close to the base where spectators can park * Santa Lucia Canyon Road and Victory Road, provides a partial view of Complex 4. The city of Lompoc in Santa Barbara County is filled with places to catch a rocket launch. The city's tourism bureau, Explore Lompoc, maintains this list with additional viewing locations: * Ocean Park, 6851 Ocean Park Road, Lompoc, which, while it doesn't have a view of the launch pad itself, is located only four miles from the launch site and provides a good vantage to see rockets get off the ground. Parking is limited, and law enforcement will close the road to the beach once parking is full. * Allan Hancock College, 1 Hancock Drive, Lompoc, a community college located nine miles from the launch site where the launch pad and rocket's tip can be seen before liftoff. * Riverbend Park, N A Street and McLaughlin Road, Lompoc, located within 10 miles of the launch site, is filled with large fields for activities or for spectators to set up chairs. * Surf Beach on Ocean Avenue, one of the closest and most popular places to watch rocket launches near Lompoc, as long as it's open and accessible. But a word of caution: There is an active train track, the Amtrak Surf Station, that visitors must cross. While trains don't run during launch windows, the vehicles could start up again with little warning if a liftoff is scrubbed. Where to watch California rocket launches in Ventura County Visit Ventura, the tourism bureau in Ventura County, provided a list to the USA TODAY Network of suggested locations to see a rocket launch from the county: * Ventura Pier, 750 E. Harbor Blvd, is known as the oldest pier in all of California. * Emma Wood State Beach, located on the Santa Barbara Channel south of U.S. 101. * Serra Cross Park at Grant Park, located just above San Buenaventura City Hall, 501 Poli St., Ventura, offers a panoramic seascape view. * San Buenaventura State Beach, 901 San Pedro St., Ventura, located adjacent to the Ventura Pier. * Cemetery Memorial Park, Main Street and South Crimea Street, Ventura Where to watch California rocket launches in San Luis Obispo County SLO CAL, a countywide destination marketing and management organization, maintains a list of its recommended best locations to watch a rocket launch in San Luis Obispo County to the north of the launch site: * Avila Beach, located off U.S. 101, has a variety of restaurants and shops for those looking to make a day of their rocket-viewing plans. * Pismo Beach, a city with a vibrant downtown stretch located just 38 miles away from Vandenberg * Shell Beach, a neighborhood in Pismo Beach that is home to several parks, including Eldwayen Ocean Park and Margo Dodd Park, both on Ocean Boulevard; and Dinosaur Caves Park (2701 Price St.) that are mostly dog-friendly and open to the public * Oceano Dunes, the closest place to view launches from the county with open spaces along the ocean allowing full visibility of the sky * Morro Strand State Beach, a three-mile stretch between the coastal city Morro Bay and the town of Cayucos. Cayucos' south-facing beaches should have great views of Vandenberg. Other cities in California where rockets may be visible Other cities in California where you might glimpse the Falcon 9 rocket soaring overhead - particularly after sunset and before sunrise - as it climbs into the sky on a southern trajectory include: * Long Beach, a city popular with tourists known for its waterfront attractions, located about 180 south of the launch site along the southern coast of California * Lake Forest, located about 200 miles south of the launch site along the southern coast of California * San Diego, located about 280 miles south of the launch site along the southern coast of California * Merced, located more than 200 miles north of Vandenberg in the San Joaquin Valley * Hesperia, a town surrounded by the Mojave Desert located more than 200 miles east of the launch site * Anaheim, where Disneyland is located, located less than 200 miles southeast of the launch site What to know about booster re-entry Following the launch, the Falcon 9 rocket's booster will aim to land on a SpaceX drone ship, nicknamed "Of Course I Still Love You," in the Pacific Ocean. This allows for SpaceX personnel to recover the booster so it can be reused in future spaceflights. Will there be sonic booms? Residents of Santa Barbara County, San Luis Obispo County and Ventura County often stand to be the most likely to hear sonic booms, SpaceX said. The sonic booms - brief, thunder-like noises that are often heard from the ground when a spacecraft or aircraft travels faster than the speed of sound - could last for up to 10 minutes after liftoff, Vandenberg has added. That's because the booster falls back through the atmosphere still traveling at supersonic speeds and, as it slows down, generates shock waves that sound like one or more loud booms on the ground. Meanwhile, "areas local to Vandenberg Space Force Base will hear the initial low rumble of take-off," Vandenberg also warns before launches. Does Elon Musk own SpaceX? What to know about rocket company SpaceX is the commercial spaceflight company that billionaire Elon Musk, the world's richest man, founded in 2002 and leads as the CEO. SpaceX is headquartered at Starbase in South Texas near the U.S.-Mexico border. The site, which is where SpaceX has been conducting routine flight tests of its 400-foot megarocket known as Starship, was recently voted by residents to become its own city. As a major government contractor, SpaceX serves as the launch service provider for a variety of government missions both civil and military. For the Department of Defense, SpaceX's Falcon 9 helps launch classified satellites and other payloads into space. And for NASA, Falcon 9 most often helps propel astronauts to the International Space Station on SpaceX's Dragon crew capsule - the only U.S vehicle capable of carrying NASA astronauts to orbit. What is Starlink? Starlink is SpaceX's internet satellite business. With more than 10,000 satellites in its growing orbital constellation, Starlink has become a lucrative part of Musk's business empire, serving millions of customers around the world. SpaceX, which bills itself as the only satellite internet provider with its own reusable rocket capable of deploying the technology, has spent years delivering the satellites to orbit with a regular cadence of rocket launches from Florida and California. Starlink satellites operate from low-Earth orbit, about 341 miles up, which is much closer to Earth's atmosphere than other satellites. That not only allows Starlink satellites to offer high connection speeds than satellites further out in space, but to reach rural areas and regions where internet service is not readily accessible. What is the Vandenberg Space Force Base in California? The Vandenberg Space Force Base is a rocket launch site in Santa Barbara County in Southern California. Established in 1941, the site was previously known as the Vandenberg Air Force Base. Though it's a military base, the site also hosts both civil and commercial space launches for entities like NASA and SpaceX. Space Launch Delta 30, a unit of Space Force, is responsible for managing the launch operations at Vandenberg, as well as the missile tests that take place at the base. Eric Lagatta is the Space Connect reporter for the USA TODAY Network. Reach him at [email protected]
A Simple Way to Avoid Messes Like the Anthropic Shares Shock
Membership is now required to use this feature. To learn more: View Membership Benefits Even if armchair investors are fleeing private credit or panicking that their unlisted shares in Anthropic PBC are now invalid, the long-term trend is clear: Public markets keep losing ground to private funds. That's one big reason for the proposals to ditch quarterly reporting demands for listed companies. Big and small investors hate that idea -- and they're right to. But concentrating solely on the potential rule changes misses half the story: All investors -- and the watchdogs who are meant to protect them -- should be just as focused on getting more information from private companies and the funds that own them. The trend is toward more convergence between public and private markets and a leveling of the playing field is necessary. Fuller reporting in private markets is the only sensible policy. The Securities and Exchange Commission, led by Paul Atkins, is pursuing a company-friendly agenda that aims to cut the costs of being a public issuer of stock or bonds and so promote investment and growth. That's a fine goal, although the US doesn't seem to be suffering from a lack of economic vitality -- plenty of other countries are more in need of a boost on that front. Alongside the idea of moving to a biannual reporting standard, Atkins has also proposed lessening the already low reporting requirements for private funds through Form PF, the main regulatory disclosure demands put on hedge funds and other alternative asset managers. But while the SEC is thinking about reducing the information available to itself and others, the push to get more retail money into private markets is well underway. In the US, it seems likely that retirement funds will eventually get access to private equity and private credit. And there are already a host of platforms that offer ways to trade in the shares of hot, unlisted technology companies. Even in the UK, the London Stock Exchange Group got regulators' green light to launch its own private securities market, Pisces, late last year.
SpaceX plans Memorial Day weekend rocket launch. When, where to watch
If you're looking for something fun to do in California during the long Memorial Day weekend, SpaceX is planning another rocket launch at the Vandenberg Space Force Base. Looking for something fun to do during the long Memorial Day weekend? Why not try to catch a rocket launch in California? SpaceX is planning to get its Falcon 9 rocket off the ground from the Vandenberg Space Force Base on a mission to deploy the company's Starlink broadband internet satellites to Earth orbit. Falcon 9 launches are common enough in Southern California that plenty of places have become popular among spectators. Just be warned that for the next mission, you'll have to get up early to catch it in the morning. Also keep in mind that postponements due to weather or issues with rockets are common with spaceflight. Check back with the VC Star for any updates on the impending launch. In the meantime, here's what to know about the upcoming SpaceX rocket launch from Vandenberg in Santa Barbara County, as well as where to watch it. Is there a rocket launch today? Next mission from Vandenberg in California SpaceX is working toward a Sunday, May 24, launch from Southern California, with a four-hour launch window opening at 7 a.m. PT. A Federal Aviation Administration operations plan advisory suggests a backup opportunity is available the next day if the launch were to be postponed. Where is the next launch from California? What to know about trajectory The launch will take place from Space Launch Complex 4-East (SLC-4E,) which SpaceX leases as a launch site for its Falcon 9 rocket at the Vandenberg Space Force Base in Santa Barbara County. As has become typical in 2026, the rocket will fly at a southern trajectory. What is launching from Vandenberg? SpaceX to deploy Starlink satellites SpaceX will launch its famous two-stage 230-foot Falcon 9 rocket, one of the world's most active, to deliver 24 Starlink satellites into low-Earth orbit, an altitude nearer Earth's atmosphere where they're able to circle the planet quickly. Where to watch California rocket launches in Santa Barbara County Because Vandenberg is an active military base, the launch complex does not host public viewings of launches. But if conditions are clear, rocket launches from the Vandenberg Space Force Base can be viewed from several locations as far as Santa Barbara and Los Angeles. Space Launch Schedule, a website dedicated to tracking upcoming rocket launches, provided a list of places in Santa Barbara County in California to catch the launch in person: * 13th Street and Arguello Boulevard, a public site with the closest views of SpaceX launches * Floradale Avenue and West Ocean Avenue, officially designated as the "viewing site for SLC-6" (space launch complex-6) * Renwick Avenue and West Ocean Avenue, another intersection close to the base where spectators can park * Santa Lucia Canyon Road and Victory Road, provides a partial view of Complex 4. The city of Lompoc in Santa Barbara County is filled with places to catch a rocket launch. The city's tourism bureau, Explore Lompoc, maintains this list with additional viewing locations: * Ocean Park, 6851 Ocean Park Road, Lompoc, which, while it doesn't have a view of the launch pad itself, is located only four miles from the launch site and provides a good vantage to see rockets get off the ground. Parking is limited, and law enforcement will close the road to the beach once parking is full. * Allan Hancock College, 1 Hancock Drive, Lompoc, a community college located nine miles from the launch site where the launch pad and rocket's tip can be seen before liftoff. * Riverbend Park, N A Street and McLaughlin Road, Lompoc, located within 10 miles of the launch site, is filled with large fields for activities or for spectators to set up chairs. * Surf Beach on Ocean Avenue, one of the closest and most popular places to watch rocket launches near Lompoc, as long as it's open and accessible. But a word of caution: There is an active train track, the Amtrak Surf Station, that visitors must cross. While trains don't run during launch windows, the vehicles could start up again with little warning if a liftoff is scrubbed. Where to watch California rocket launches in Ventura County Visit Ventura, the tourism bureau in Ventura County, provided a list to the USA TODAY Network of suggested locations to see a rocket launch from the county: * Ventura Pier, 750 E. Harbor Blvd, is known as the oldest pier in all of California. * Emma Wood State Beach, located on the Santa Barbara Channel south of U.S. 101. * Serra Cross Park at Grant Park, located just above San Buenaventura City Hall, 501 Poli St., Ventura, offers a panoramic seascape view. * San Buenaventura State Beach, 901 San Pedro St., Ventura, located adjacent to the Ventura Pier. * Cemetery Memorial Park, Main Street and South Crimea Street, Ventura Where to watch California rocket launches in San Luis Obispo County SLO CAL, a countywide destination marketing and management organization, maintains a list of its recommended best locations to watch a rocket launch in San Luis Obispo County to the north of the launch site: * Avila Beach, located off U.S. 101, has a variety of restaurants and shops for those looking to make a day of their rocket-viewing plans. * Pismo Beach, a city with a vibrant downtown stretch located just 38 miles away from Vandenberg * Shell Beach, a neighborhood in Pismo Beach that is home to several parks, including Eldwayen Ocean Park and Margo Dodd Park, both on Ocean Boulevard; and Dinosaur Caves Park (2701 Price St.) that are mostly dog-friendly and open to the public * Oceano Dunes, the closest place to view launches from the county with open spaces along the ocean allowing full visibility of the sky * Morro Strand State Beach, a three-mile stretch between the coastal city Morro Bay and the town of Cayucos. Cayucos' south-facing beaches should have great views of Vandenberg. Other cities in California where rockets may be visible Other cities in California where you might glimpse the Falcon 9 rocket soaring overhead - particularly after sunset and before sunrise - as it climbs into the sky on a southern trajectory include: * Long Beach, a city popular with tourists known for its waterfront attractions, located about 180 south of the launch site along the southern coast of California * Lake Forest, located about 200 miles south of the launch site along the southern coast of California * San Diego, located about 280 miles south of the launch site along the southern coast of California * Merced, located more than 200 miles north of Vandenberg in the San Joaquin Valley * Hesperia, a town surrounded by the Mojave Desert located more than 200 miles east of the launch site * Anaheim, where Disneyland is located, located less than 200 miles southeast of the launch site What to know about booster re-entry Following the launch, the Falcon 9 rocket's booster will aim to land on a SpaceX drone ship, nicknamed "Of Course I Still Love You," in the Pacific Ocean. This allows for SpaceX personnel to recover the booster so it can be reused in future spaceflights. Will there be sonic booms? Residents of Santa Barbara County, San Luis Obispo County and Ventura County often stand to be the most likely to hear sonic booms, SpaceX said. The sonic booms - brief, thunder-like noises that are often heard from the ground when a spacecraft or aircraft travels faster than the speed of sound - could last for up to 10 minutes after liftoff, Vandenberg has added. That's because the booster falls back through the atmosphere still traveling at supersonic speeds and, as it slows down, generates shock waves that sound like one or more loud booms on the ground. Meanwhile, "areas local to Vandenberg Space Force Base will hear the initial low rumble of take-off," Vandenberg also warns before launches. Does Elon Musk own SpaceX? What to know about rocket company SpaceX is the commercial spaceflight company that billionaire Elon Musk, the world's richest man, founded in 2002 and leads as the CEO. SpaceX is headquartered at Starbase in South Texas near the U.S.-Mexico border. The site, which is where SpaceX has been conducting routine flight tests of its 400-foot megarocket known as Starship, was recently voted by residents to become its own city. As a major government contractor, SpaceX serves as the launch service provider for a variety of government missions both civil and military. For the Department of Defense, SpaceX's Falcon 9 helps launch classified satellites and other payloads into space. And for NASA, Falcon 9 most often helps propel astronauts to the International Space Station on SpaceX's Dragon crew capsule - the only U.S vehicle capable of carrying NASA astronauts to orbit. What is Starlink? Starlink is SpaceX's internet satellite business. With more than 10,000 satellites in its growing orbital constellation, Starlink has become a lucrative part of Musk's business empire, serving millions of customers around the world. SpaceX, which bills itself as the only satellite internet provider with its own reusable rocket capable of deploying the technology, has spent years delivering the satellites to orbit with a regular cadence of rocket launches from Florida and California. Starlink satellites operate from low-Earth orbit, about 341 miles up, which is much closer to Earth's atmosphere than other satellites. That not only allows Starlink satellites to offer high connection speeds than satellites further out in space, but to reach rural areas and regions where internet service is not readily accessible. What is the Vandenberg Space Force Base in California? The Vandenberg Space Force Base is a rocket launch site in Santa Barbara County in Southern California. Established in 1941, the site was previously known as the Vandenberg Air Force Base. Though it's a military base, the site also hosts both civil and commercial space launches for entities like NASA and SpaceX. Space Launch Delta 30, a unit of Space Force, is responsible for managing the launch operations at Vandenberg, as well as the missile tests that take place at the base. Eric Lagatta is the Space Connect reporter for the USA TODAY Network. Reach him at [email protected]
Wall Street Now Has An Alien ETF -- And Traders Have Bet $42 Million On It On Polymarket - Palantir Technolo
Wall Street now has an ETF betting the government will admit aliens are real. He told the Wall Street Journal he was inspired by videos that appear to show craft moving in anomalous ways. Tuttle's Track Record Tuttle has built a brand on provocative funds. He previously ran the Inverse Cramer and Long Cramer ETFs, which traded against and with the picks of CNBC host Jim Cramer before both were liquidated in 2024 for lack of assets. He has also tried to launch a Government Grift ETF that the NYSE and Nasdaq reportedly declined to list. UFOD looks similarly thin, holding only $2 million in assets since its February debut, according to the Journal. The portfolio is less exotic than the name suggests. Stripped of its sci-fi marketing, the ETF functions as a concentrated bet on U.S. military modernization, meaning its biggest headwinds are defense spending cuts and delayed government contracts. The Real Money Is On Polymarket The disclosure question has found a far bigger audience on Polymarket, where the "Will the US confirm that aliens exist by...?" contract has cleared nearly $42.8 million in volume. Traders price a December confirmation at 15%, while the near-term May contract sits at just 1%. That pricing reflects how strict the resolution is. The contract pays "Yes" only if the President, a Cabinet member, the Joint Chiefs or a federal agency definitively states that extraterrestrial life exists. The Pentagon's May 8 rollout under its PURSUE transparency program, which posted declassified files to a dedicated WAR.GOV/UFO page, did not trigger it. The documents were mostly archival material of blurry objects, and no official said the magic words. A government UFO website is not a spoken admission, which is why "No" stays heavily favored. For traders chasing the theme, the cleaner exposure may sit in the defense names UFOD already owns, like Palantir and Lockheed, which trade on real budgets and contract wins rather than on whether anyone in Washington ever confirms little green men. Image: Shutterstock Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.
SpaceX, OpenAI...: How Does an IPO Actually Work?
An IPO (Initial Public Offering) is the moment a private company goes public. Note that "public" has a specific meaning here: we are not talking about state-owned enterprises, but rather a company whose capital is opened to external investors. Prior to this, the company is owned by a closed circle: it's founders, employee shareholders, or venture capital funds, for instance. Afterwards, the shareholder base diversifies, even if the company retains controlling shareholders or is a majority owner. In any event, it marks the beginning of a more or less liquid market where ownership titles - shares - can be traded, with supply and demand interacting to establish a price. A Heavy and Well-Oiled Machine But before that, the company must get into battle mode for the IPO. It is a long, time-consuming and costly process. To keep things simple today, we will skip the internal restructuring required for listing, which is by no means a small feat. On the financial side, in the months leading up to the operation, the company selects one or more major investment banks, known as underwriters, tasked with organizing and placing the offering. Goldman Sachs, Morgan Stanley, JPMorgan, Bank of America and Citigroup are reportedly tipped to lead the SpaceX IPO. Their job involves analyzing the company from top to bottom, drafting the prospectus, and, crucially, gauging institutional investors to find the right offering price. This is known as the roadshow. Executives of the company-to-be-listed spend several weeks conducting back-to-back presentations in hotel ballrooms or bank boardrooms in New York, London, Paris and Singapore. They sell their "story" to fund managers who will then decide whether or not to place an order. Following this informal round, the banks build what is called the order book: who wants how many shares, and at what price. From this book, the IPO price emerges. Let's look at four key things to understand about these operations. The Money Does Not Always Go into the Company's Coffers The first misconception to clear up is that an IPO is not necessarily a fundraising event. A distinction must be made between primary shares (new) and secondary shares (existing). When a company issues new shares during its IPO, it is indeed raising capital; the money enters its coffers and can be used for investment, debt reduction or expansion. However, when existing shareholders sell their shares as part of the deal, the money does not go to the company: it goes into their pockets. That said, both mechanisms often coexist in the same IPO. The operation thus allows the company to raise funds for financing while enabling existing shareholders to monetize all or part of their holdings. In this case, the company's free float - the portion of capital freely tradable on the exchange - will consist of both the new shares and those sold by previous shareholders. The First Winners Are Often Already on Board This leads to another central question: who truly benefits from an IPO? The honest answer is: primarily those who were there before. The funds that financed SpaceX or OpenAI in their early days, having accepted high risk for years. Management generally provided the vision and the long hours. The IPO is their exit strategy, whether in full or part. Founders and employee shareholders see their stock options become liquid. Banks pocket commissions that can amount to colossal sums. And where does the individual investor fit in? Usually at the end of the chain. In major US IPOs, shares are first allocated to institutional investors who participated in the book-building process. Retail investors, most of whom buy on the secondary market as soon as trading opens, at a price determined by real-time supply and demand, which can be far removed from the IPO price - in either direction. While mechanisms exist to enable individuals to subscribe like institutions, they are typically limited to certain brokers and subject to discretionary allocation. For a European retail investor using a standard broker, the most frequent scenario remains: no access to the US IPO at the offering price, with purchase only possible after the first trade. What Does a "1,000 Billion Dollar IPO" Mean? Another common confusion is the blurring of lines between the amount of capital raised and the market capitalization. On the day of its debut, a company is valued by the market at the IPO price multiplied by the total number of shares outstanding. If OpenAI goes public at a valuation of 1,000 billion dollars, it means the market estimates the entire company is worth that sum, not that 1,000 billion dollars are changing hands. It is a collective and instantaneous valuation that can be raised or reduced, even within the first minutes of trading. OpenAI could also use the occasion to issue new shares and bring in fresh cash, relying on the appetite of new investors. Suppose management hopes to raise $50bn. In this case, you might also hear of a "50 billion dollar deal." This refers to the capital raise, not the overall valuation of the company. Both figures often circulate in parallel in the press, sometimes without much distinction. Hence the importance of knowing which one you are looking at. Is an IPO a Good Deal? The history of major tech IPOs teaches a certain humility. Facebook had a sluggish start before becoming one of the most profitable stocks of the decade. Uber and Lyft went public with great fanfare only to spend several years trading below their offering price. However, the AI fever has created a hyper-speculative environment for companies closely or distantly related to this ecosystem. Cerebras, which listed on the Nasdaq in mid-May, saw its share price jump from an IPO price of $185 to $367 during the first session due to a surge in demand. A few days later, it was trading at $290, meaning those who subscribed at $185 gained 57% in a few days, while those who bought at the peak are facing a 21% loss. CoreWeave, whose IPO dates back to March 2025, followed a similar trajectory (IPO price $40, peak at $187, around $101 as of May 20). In Europe, it must be admitted that the IPO track record is somewhat mixed, for reasons we will not detail here but which relate notably to the structure of corporate financing cycles. The largest recent operation, Verisure, failed to ignite, with a share price languishing well below its 2025 IPO level. Conversely, hyper-speculation in semiconductors is also present, as evidenced by the Silex IPO, where the share price tripled in a few days in May 2026. A New Dimension: SpaceX and OpenAI SpaceX and OpenAI are set to take US IPOs to a whole new level. The valuations of these companies will be incredibly high. There is talk of over 1,000 billion dollars for OpenAI - equivalent to the annual GDP of Switzerland. For SpaceX, it is even more staggering. Rumors suggest a valuation of 1,800 to 2,000 billion dollars for a capital raise of $80bn. Until now, the Saudi giant Saudi Aramco dominated the rankings with a valuation of 1,700 billion dollars in 2019, but a capital raise "limited" to $25.6bn. Unlike the Saudi firm, a star of the oil industry, the two Americans operate in a sector where prospects go "to infinity and beyond," at least on paper. And even if they are currently loss-making, they will generate unprecedented excitement. The spectacle is guaranteed and will likely spill over into the rest of the market. This is perhaps the moment to remember that a great story is not an investment thesis - bearing in mind that, these days, the market often prefers a good story over Excel spreadsheet ratios.
Here are the key takeaways for chip stocks from SpaceX's S-1 Filing By Investing.com
Investing.com -- SpaceX's S-1 filing contains several significant data points for semiconductor investors, with Nvidia emerging as the primary chip supplier to the company's AI clusters and Intel named as a key partner in a major new fabrication facility, according to Wolfe Research. In a note from analyst Liz Pate, Wolfe said SpaceX operates two AI clusters, with Colossus 1, a roughly 130-megawatt cluster running approximately 100,000 H100 GPUs, and Colossus II, currently a 430-megawatt site running around 110,000 GB200 and 110,000 GB300 accelerators. Total planned Colossus II capacity includes an additional 400 megawatts of compute and approximately 220,000 additional GB300 processors, bringing total planned capacity across both sites to 1 gigawatt. On capital expenditure, Wolfe noted that SpaceX's first-quarter 2026 AI spend of $7.7 billion implies annualized spending of more than $30 billion, up sharply from $12.7 billion in fiscal 2025, with the filing suggesting further acceleration ahead. Wolfe highlighted Terafab, a large-scale chip fabrication facility announced in the first half of 2026, as another key data point, with Intel named as a partner citing its expertise across design, fabrication and packaging. The facility is said to be targeting an annual production of approximately 1 terawatt of compute hardware, though Wolfe noted there are currently no specific disclosures on timeline or capital expenditure. Perhaps most notably for the longer-term outlook, SpaceX is aiming to launch AI compute satellites as early as 2028, targeting 100 gigawatts in satellite constellation-driven compute capacity annually, an ambition Wolfe said will mandate thousands of annual launches.
SpaceX Cancels Launch Of "Starship V3" Rocket Due To Technical Issues - UrduPoint
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SpaceX scrubs launch of upgraded Starship V3 from Texas
SpaceX has scrubbed the launch of its 12th Starship rocket from Texas and will attempt the high-stakes test flight again on Saturday AEST. Starship V3, uncrewed and featuring dozens of upgrades tailored for rapid Starlink satellite launches and NASA moon missions, was to be a key test for the vehicle following months of testing delays. The delay is also poised to affect investor confidence ahead of what might be the biggest initial public offering in history, where SpaceX is targeting a valuation of $US1.75 trillion. SpaceX had spent months redesigning Starship after a streak of failures last year, culminating in the V3 design that was meant to launch on Thursday. It called off Friday's launch seconds before its planned lift-off, after multiple pauses to the countdown triggered by fuel temperature and pressure readings. Musk said on X the a hydraulic pin on one of the launch tower's giant mechanical arms did not retract as designed. "If that can be fixed tonight, there will be another launch attempt tomorrow at 5:30 CT," Musk said of the faulty arm. The fully reusable Starship, which SpaceX has spent more than $US15 billion developing, is key to Musk's goals of cutting launch costs, expanding his Starlink satellite business and pursuing ambitions ranging from deep-space exploration to orbital data centres - all factored in to his IPO valuation. Before the launch attempt, Musk sought to temper expectations in case of failure, saying: "There is a large pipeline of V3 ships and boosters in the factory." He said a failure would not affect the cadence of future Starship test launches "by more than a month or so." SpaceX's engineering culture, considered more risk-tolerant than many of the aerospace industry's more established players, is built on a flight-testing strategy that pushes newly developed spacecraft to the point of failure, then fine-tunes improvements through frequent repetition.
