News & Updates
The latest news and updates from companies in the WLTH portfolio.
ASTS, RKLB, SPCE, RDW Stocks Extend Selloff Overnight -- Analyst Backs 'Betting Against Space' Trade As Jefferies Courts SpaceX Bears
* SpaceX plans to raise $75 billion at $135 per share, valuing the company at $1.77 trillion, or more than $1.8 trillion on a fully diluted basis. * Tesla influencer AleXandra Merz said that the IPO is only one step in SpaceX's funding journey, citing estimates of $235 billion in capital needs through 2030. * Satellite communications analyst Tim Farrar revived the view that 'betting against space' has often been the more rational trade. Space stocks extended their selloff overnight heading into Wednesday as investors weighed growing bearish interest around SpaceX's blockbuster IPO and mounting questions over its $1.8 trillion valuation. The weakness followed a brutal Wednesday session that saw shares of AST SpaceMobile (ASTS), Rocket Lab (RKLB), Virgin Galactic (SPCE) and Redwire (RDW), among other space stocks, all plunge up to 15%. In overnight trading, ASTS and RKLB each fell about 2%, RDW declined 3%, and SPCE sank 6%. See what 10M+ investors are talking about. Get the Stocktwits Daily Rip for what retail is watching right now, free to your inbox How Big Can SpaceX's IPO Get? According to SpaceX's filing with the U.S. Securities and Exchange Commission (SEC) late Wednesday, the company plans to sell 555.6 million shares at $135 per share, raising $75 billion and valuing the company at $1.77 trillion. On a fully diluted basis, the valuation exceeds $1.8 trillion. The company is expected to begin formally marketing the deal on Thursday ahead of a June 11 share sale and a trading debut the next day. The scale of the offering could grow further if investor demand proves strong. Tesla influencer Sawyer Merritt noted on X that full exercise of the IPO's overallotment option could increase the value of shares sold by $11.25 billion. "If demand for SpaceX stock is strong enough with this IPO, the company says it could raise upwards of $85.7 billion," Merritt said. The initial IPO filing had ignited a brief rally among space stocks after SpaceX called the sector's opportunity as the "largest actionable total addressable market in human history," estimating a $28.5 trillion market spanning launch services, Starlink connectivity, direct-to-cell communications and AI infrastructure. Why SpaceX May Need More Capital While much of the market has focused on SpaceX's valuation, Tesla influencer AleXandra Merz, who posts under the handle TeslaBoomerMama on X, said that the $75 billion to $83 billion raise would provide financial flexibility, but added that SpaceX's plans for Starlink expansion, Starship development and AI infrastructure point to funding needs that extend far beyond a single capital raise.
SpaceX hopes to raise $75B when world's biggest-ever IPO lifts off next week
SpaceX hopes to raise $75B when world's biggest-ever IPO lifts off next week Elon Musk's Space Exploration Technologies Corp. said today it's hoping to raise a staggering $75 billion when it goes public later this month, setting the stage for what would be the largest stock market debut in history. It puts Musk on course to become the world's first trillionaire, based on the estimated value of his assets. The rocket company plans to sell 555.6 million shares at a price of $135 through its initial public offering. The proceeds of the sale would easily surpass the current IPO world record of $26 billion, which was raised by the Saudi Arabian oil giant Saudi Aramco in 2019. SpaceX would have a market value of $1.77 trillion following the IPO, putting it well into the top ten most valuable companies. Only six companies in the S&P 500 index currently have a larger value, led by Nvidia Corp. at $5.2 trillion. In an amended prospectus filed with the Securities and Exchange Commission today, SpaceX also explained exactly how much control Musk will have over the company. As its Chief Executive, Chief Technical Officer and Chairman, his voting power will come from his ownership of 5.22 billion Class B shares. That gives him 10 votes for every share he holds, which amounts of 82.4% of the total voting power in the company. In other words, Musk will always have the final say. Forbes estimates Musk's current net worth at around $826 billion, with his stake in SpaceX estimated to be worth around $542 billion, based on the company's $1.25 trillion valuation. That means that if SpaceX's valuation increases to $1.77 trillion following the IPO, Musk's overall net worth would grow by around $233 billion, making him the world's first ever trillionaire. Whether or not Musk will eventually become a multi-trillionaire remains to be seen, but the fantastical plans detailed in SpaceX's prospectus suggest there's every chance he will do, if the company fulfills its ambitions. The most colorful parts of the document offer a stark contrast to the traditionally dry and overly technical language seen in IPO paperwork. For instance, the company details how the proceeds of the sale will help to return astronauts to the Moon and ultimately put humans on Mars too. It even outlines Musk's ultimate ambition to build a "permanent human colony" on the red planet that would be populated by "at least one million inhabitants." Musk has previously justified the need for a human outpost on Mars, saying that humanity basically needs a backup plan should something catastrophic happen to Earth. Musk's other publicly traded company, Tesla Inc., also has grand ambitions, with one of its goals being to manufacture fleets of robotaxis that can ferry passengers around cities without human drivers. Tesla has also designed a series of humanoid robots, and it's thought that they could be used to lay the groundwork and build the initial infrastructure needed for a Mars-based colony. Some analysts, such as Dan Ives of Wedbush Securities, speculate that Musk may ultimately seek to merge SpaceX with Tesla, perhaps as early as next year. There is a precedent for this. In February, SpaceX merged with another of Musk's companies, xAI Corp., which owns the X.com social media platform formerly known as Twitter. xAI is Musk's artificial intelligence company, and it's set to play a key role in growing SpaceX's revenue. According to Musk, the rocket maker could eventually generate revenue of up to $26.5 trillion annually, if it succeeds in another ambitious plan to put data centers into low-Earth orbit, where they can tap free and unlimited solar energy. SpaceX's initial focus following the IPO will be to use the proceeds to fund expanded infrastructure for both its rocket business and its AI projects, and also to invest further in Starlink Mobile, the satellite service that provides broadband internet connectivity to any part of the planet. The company is expected to list on the Nasdaq exchange under the ticker symbol "SPCX" and could begin trading by the end of next week. Of course, SpaceX isn't the only massive market debut expected this summer. Earlier this week, the AI company Anthropic PBC confidentially filed its own IPO paperwork. Although it hasn't provided any financial details yet, it's expected that the sale will put its market capitalization above $965 billion. Meanwhile, ChatGPT maker OpenAI Group PBC is also widely expected to file for an IPO soon, because it doesn't want to be left behind its rivals. It hasn't done so yet, but most analysts believe that a listing is imminent. "This listing represents the first major test for public markets after years of muted IPO activity, with SpaceX paving the way for AI giants Anthropic and OpenAI to follow soon after," Ives said.
Musk could become trillionaire when SpaceX goes public
SpaceX plans to raise up to 75 billion dollars (£56bn) when it goes public this month, setting the stage for the largest US stock market debut and putting Elon Musk on course to becoming the world's first trillionaire. The company, formally known as Space Exploration Technologies Corp, said it will sell 555.6 million shares at 135 dollars apiece. The offering would give SpaceX a market value of 1.77 trillion dollars. Only six companies in the S&P 500 are currently worth more, with Nvidia tops at 5.2 trillion. Besides the size of the offering and the expected proceeds, SpaceX's amended prospectus updates details about how much control of the company Mr Musk will have. As SpaceX's CEO, chief technical officer and chairman, his voting power will come primarily through his ownership of 5.22 billion Class B shares, which give the holder 10 votes for every share held. According to the filing, Musk would have 82.4% of the voting power in the company. Forbes currently values Mr Musk's net worth at 826 billion dollars and his stake in SpaceX at 542 billion. The estimated proceeds from the SpaceX IPO would easily top the 26 billion raised by oil giant Saudi Aramco in 2019. Time will tell how SpaceX fares on the market. Mr Musk's plans for the company are as fantastical as the money he hopes raise in the sale. The IPO document strikes a contrast with the typically dry, technical prose in normal documents, detailing plans to use proceeds from the sale to help put men on the moon again and perhaps even Mars. In one section, it talks of a need to build "a permanent human colony" on the red planet with "at least one million inhabitants" as existential threats loom that could consign man to "the same fate as the dinosaurs". Earlier this week, Anthropic submitted a confidential filing with the US Securities and Exchange Commission to officially start its own IPO clock. OpenAI has not yet reported filing the initial SEC paperwork but an IPO from the ChatGPT maker is widely expected.
SpaceX's IPO is set to be the biggest ever and could make Elon Musk a trillionaire
By ALEX VEIGA and BERNARD CONDON, AP Business Writers NEW YORK (AP) -- SpaceX says it plans to raise up to $75 billion when it goes public this month, setting the stage for the largest-ever stock market debut and putting Elon Musk on course to becoming the world's first trillionaire. The company, formally known as Space Exploration Technologies Corp., said Wednesday it will sell 555.6 million shares at $135 a piece in an initial public offering. The estimated proceeds would easily top the $26 billion raised by oil giant Saudi Aramco in 2019. The offering would also give SpaceX a market value of $1.77 trillion. Only six companies in the S&P 500 are currently worth more, with Nvidia tops at $5.2 trillion. Besides the size of the offering and the expected proceeds, SpaceX's amended prospectus updates details about how much control of the company Musk will have. As SpaceX's CEO, chief technical officer and chairman, Musk's voting power will come primarily through his ownership of 5.22 billion Class B shares, which give the holder 10 votes for every share held. According to the filing, Musk would have 82.4% of the voting power in the company. Forbes currently values Musk's net worth at $826 billion and his stake in SpaceX at $542 billion. The estimated value of his SpaceX holdings was based on an overall value for the company of $1.25 trillion. Based on those numbers, a $1.77 trillion valuation for SpaceX would boost Musk's net worth by $223 billion, making him a trillionaire. However, much of Musk's worth is in stock that he has yet to cash in. Even as it makes a bid for a blockbuster market debut, SpaceX is currently losing billions of dollars a year. The filing shows that the company lost $2.6 billion from operations last year on $18.7 billion in revenue, and the losses kept piling up at the start of this year, too. Fantastical plans Time will tell how SpaceX fares on the market. Musk's plans for the company are as fantastical as the money he hopes raise in the sale. Colorful, even frightening in parts, the IPO document strikes a contrast with the typically dry, technical prose in IPO documents, detailing plans to use proceeds from the sale to help put men on the moon again and perhaps even Mars. In one section, it talks of a need to build "a permanent human colony" on the red planet with "at least one million inhabitants" as existential threats loom that could consign man to "the same fate as the dinosaurs." Musk has almost equally ambitious plans for his other publicly traded company, Tesla. His goal is to transform the maker of electric vehicles into a producer of robotaxis and humanoid robots. Dan Ives of Wedbush Securities wrote in a research note that he expects Tesla and SpaceX to merge next year. AI plays a key role Key to the success of both companies -- and any merged entity -- is artificial intelligence. In its IPO filing, SpaceX says it sees potential revenue from AI of up to $26.5 trillion. But that depends on another lofty Musk ambition -- putting data centers in space, which is not technologically possible at the moment. Transforming his space company into a primarily AI-focused company will be a challenge for Musk, who started xAI in 2023 with 11 other co-founders who have all since left. Some were recruited away by rivals. Its main AI product, the chatbot Grok, is "less impressive than anything that we see from any other major player in the space, whether that's OpenAI, or Anthropic, or (Google's) Gemini," said IDC analyst Arnal Dayaratna. Dayaratna said that doesn't mean SpaceX doesn't have potential as a major AI player, thanks in part to its computing partnership with Anthropic and Musk's recent deal that gave SpaceX the rights to buy AI coding tool Cursor for $60 billion later this year. Folding in Cursor's capabilities would give SpaceX access to the coveted business customers now using Anthropic's Claude or OpenAI's ChatGPT. SpaceX plans to use the net proceeds from the IPO to fund the expansion of infrastructure for its AI and rocket businesses, and to beef up the constellation of satellites that power Starlink Mobile, among other investments. The company plans to list on the Nasdaq under the symbol "SPCX" and could begin trading as soon as the end of next week. And SpaceX isn't the only colossal market debut investors are now bracing for. Earlier this week, Anthropic submitted a confidential filing with the U.S. Securities and Exchange Commission to officially start its own IPO clock. OpenAI has not yet reported filing the initial SEC paperwork, but an IPO from the ChatGPT maker is widely expected. "This listing represents the first major test for public markets after years of muted IPO activity with SpaceX paving the way for AI giants Anthropic and OpenAI to follow soon after," Ives wrote. Associated Press Technology Writer Matt O'Brien contributed.
Musk could become trillionaire when SpaceX goes public
SpaceX plans to raise up to 75 billion dollars (£56bn) when it goes public this month, setting the stage for the largest US stock market debut and putting Elon Musk on course to becoming the world's first trillionaire. The company, formally known as Space Exploration Technologies Corp, said it will sell 555.6 million shares at 135 dollars apiece. The offering would give SpaceX a market value of 1.77 trillion dollars. Only six companies in the S&P 500 are currently worth more, with Nvidia tops at 5.2 trillion. Besides the size of the offering and the expected proceeds, SpaceX's amended prospectus updates details about how much control of the company Mr Musk will have. As SpaceX's CEO, chief technical officer and chairman, his voting power will come primarily through his ownership of 5.22 billion Class B shares, which give the holder 10 votes for every share held. According to the filing, Musk would have 82.4% of the voting power in the company. Forbes currently values Mr Musk's net worth at 826 billion dollars and his stake in SpaceX at 542 billion. The estimated proceeds from the SpaceX IPO would easily top the 26 billion raised by oil giant Saudi Aramco in 2019. Time will tell how SpaceX fares on the market. Mr Musk's plans for the company are as fantastical as the money he hopes raise in the sale. The IPO document strikes a contrast with the typically dry, technical prose in normal documents, detailing plans to use proceeds from the sale to help put men on the moon again and perhaps even Mars. In one section, it talks of a need to build "a permanent human colony" on the red planet with "at least one million inhabitants" as existential threats loom that could consign man to "the same fate as the dinosaurs". Earlier this week, Anthropic submitted a confidential filing with the US Securities and Exchange Commission to officially start its own IPO clock. OpenAI has not yet reported filing the initial SEC paperwork but an IPO from the ChatGPT maker is widely expected.
Elon Musk net worth could hit $1 trillion with SpaceX's IPO
5 reasons Elon Musk could become the world's first trillionaire A planned SpaceX public offering could make history and dramatically increase the billionaire entrepreneur's already massive fortune Elon Musk may soon achieve a financial milestone that no individual has ever reached. The billionaire entrepreneur is reportedly on the verge of becoming the world's first trillionaire if SpaceX moves forward with a highly anticipated initial public offering expected later this month. The proposed debut could not only reshape the financial markets but also significantly expand Musk's wealth, further cementing his status as the richest person on the planet. At the center of the excitement is SpaceX, the private aerospace company Musk founded in 2002. Over the past two decades, the company has transformed from an ambitious startup into one of the world's most influential space and technology businesses. If the IPO proceeds at its reported valuation, it could become the largest stock market debut ever recorded. 1. SpaceX could launch at a record-breaking valuation According to reports, SpaceX is seeking a valuation of approximately $1.75 trillion as it prepares to enter the public markets. That figure would instantly place the company among the most valuable businesses in the world and represent one of the largest corporate valuations ever assigned to a newly public company. The proposed share price is expected to be around $135 per share, potentially generating roughly $75 billion through the offering. Financial analysts have noted that no company has previously completed a public offering on this scale, making the transaction one of the most closely watched events in recent market history. 2. Musk's SpaceX stake could be worth hundreds of billions Much of Musk's personal fortune is tied directly to the companies he founded and continues to lead. Reports indicate that he owns millions of SpaceX shares in addition to hundreds of millions of stock options. If the company begins trading at its anticipated valuation, those holdings alone could be worth hundreds of billions of dollars. The dramatic increase in the value of his SpaceX stake would substantially boost his overall wealth and potentially move him closer to the trillion dollar threshold. The IPO would represent one of the most significant wealth creation events ever experienced by a single individual. His business empire extends far beyond SpaceX While SpaceX is driving the latest headlines, Musk's fortune is spread across a broad portfolio of companies. In addition to the rocket manufacturer, he maintains major interests in Tesla, xAI, Neuralink and The Boring Company. Each venture operates in a different industry, ranging from electric vehicles and artificial intelligence to brain computer interfaces and transportation infrastructure. The combined value of these businesses has helped Musk build one of the largest fortunes ever accumulated, with SpaceX now emerging as a potentially dominant contributor to his net worth. SpaceX would join the world's most valuable companies A valuation approaching $1.75 trillion would elevate SpaceX into an elite category of global corporations. Only a small number of publicly traded companies currently exceed that level of market value. If the proposed valuation holds, SpaceX would immediately rank among the most valuable enterprises in the United States. The achievement would reflect the company's rapid expansion in satellite communications, commercial launches, government contracts and space exploration initiatives. SpaceX has become a major force within the aerospace industry, helping redefine how space missions are developed and executed. Musk is expected to remain firmly in control Even after becoming a public company, SpaceX is expected to remain largely under Musk's control. Reports suggest the entrepreneur would retain substantial voting power through a share structure that grants enhanced influence over major corporate decisions. That arrangement would allow him to continue guiding the company's long term strategy while maintaining significant authority over its future direction. For investors, Musk's continued involvement is likely to be viewed as a key factor in the company's appeal, given his role in building SpaceX into a global leader in private spaceflight. A historic financial milestone may be approaching The potential SpaceX IPO arrives during a period of extraordinary growth for Musk's business empire. It also follows continued discussion surrounding compensation packages and performance incentives linked to Tesla, which have generated attention from investors and corporate governance experts alike. If SpaceX successfully debuts at its reported valuation, Musk could become the first person in history to achieve a net worth of $1 trillion. While market conditions and investor demand will ultimately determine the outcome, the possibility alone underscores the unprecedented scale of the entrepreneur's influence across technology, transportation and space exploration. Whether or not the trillion-dollar milestone is reached immediately, the planned public offering represents another remarkable chapter in Musk's ongoing business story and one that could redefine wealth creation in the modern era.
Anthropic Expands Claude Partner Network with New Tools
Anthropic has unveiled two major additions to its Claude Partner Network (CPN): the Services Track and the Claude Partner Hub. These updates aim to streamline enterprise adoption of Anthropic's Claude AI model by helping firms identify qualified implementation partners. The announcement comes as Anthropic positions itself for an IPO following its recent $965 billion valuation in a private funding round. The Claude Partner Network, launched in March 2026 with a $100 million investment, is Anthropic's effort to establish a robust ecosystem of consulting firms and system integrators capable of deploying Claude for enterprise clients. According to Anthropic, more than 40,000 firms have applied to join the program, with over 10,000 consultants earning a Claude certification. Notable partners include consulting giants like Accenture, Deloitte, KPMG, and PwC, with some firms already integrating Claude for hundreds of thousands of employees. What's New: Services Track and Partner Hub The Services Track introduces a structured, tiered system that ranks partner firms based on the depth of their AI practices and real-world deployments of Claude. The three tiers -- Select, Preferred, and Global Premier -- are based on metrics such as the number of certified practitioners, deployed client projects, and public customer endorsements. For example, Global Premier firms must have at least 1,000 certified practitioners, 100 deployed clients across three regions, and 15 public customer stories. Meanwhile, the Claude Partner Hub acts as a centralized portal where partners can monitor their performance against tier requirements, updated daily. Customers can also use the Hub to identify firms best suited to their project needs, with transparency around certifications, deployments, and endorsements. For partners, the platform connects to Claude directly, enabling real-time insights into their standing and progress toward higher tiers. Why This Matters Anthropic's move reflects its strategy to drive enterprise adoption through a vetted ecosystem of partners, similar to models used by Salesforce and SAP. For enterprises, these tools provide confidence that implementation partners have proven expertise with Claude, reducing risks associated with deploying AI at scale. For partners, the structured program offers predictable milestones and financial incentives, such as referral credits and co-marketing support. This expansion comes at a critical time for Anthropic, which filed confidentially for an IPO on June 1, 2026. The company is betting that its partner ecosystem can help scale enterprise revenue and solidify its position in the competitive AI market. However, it also faces scrutiny over its massive spending, with some critics questioning the sustainability of its investments ahead of its public debut. What's Next Anthropic plans to further enhance the Claude Partner Network with industry-specific specializations and new certifications, tied to deployment growth. Firms can join the network by starting at the Select tier, requiring a minimum of 10 certified practitioners. Promotions within the program are reviewed biannually, ensuring transparency and alignment with the ecosystem's goals. As Anthropic moves closer to its IPO, these initiatives underscore the company's commitment to enterprise AI -- a segment it views as key to its long-term growth. For now, the success of the Partner Network will be a critical indicator of whether Anthropic's ecosystem strategy pays off, both for customers and investors.
TrendAI™ Joins Anthropic's Project Glasswing
Collaboration will support efforts to identify and remediate software vulnerabilities using advanced AI capabilities DALLAS, June 3, 2026 /PRNewswire/ -- TrendAI™, the enterprise AI security leader from Trend Micro Incorporated (TYO: 4704; TSE: 4704), today announced its participation in Project Glasswing, an initiative focused on helping organizations identify and address vulnerabilities in critical software systems. As part of the program, TrendAI™ will use Anthropic's Claude Mythos Preview to support the review and analysis of software code, helping threat intelligence researchers turn accelerated vulnerability discovery into coordinated disclosure, prioritized remediation, and measurable risk reduction through vulnerability shielding and virtual patching. AI is dramatically accelerating vulnerability discovery. TrendAI™ views this as a positive signal for the industry - it is part of the broader, collaborative ecosystem TrendAI™ has been actively contributing to for decades alongside organizations like Anthropic. Rachel Jin, Chief Platform and Business Officer, Head of TrendAI™: "We're aligned with Anthropic's goals of using AI to make all software more secure. Organizations increasingly depend on software that operates at tremendous scale and supports critical business functions. Project Glasswing represents an important opportunity to explore how advanced AI can help software providers identify vulnerabilities earlier and improve the security and resilience of the systems customers depend on every day." TrendAI™ joins a growing community of organizations participating in Project Glasswing to better understand how frontier and advanced AI models can support defensive security efforts and improve the security of critical software infrastructure. Insights gained through the program will contribute to informing the broader industry efforts to strengthen the security of the digital ecosystem. About TrendAI™ TrendAI™, the global AI security leader and enterprise business unit of Trend Micro, empowers organizations with full AI visibility and consolidated security that inspires confidence, drives innovation, and eliminates risk. Trusted by the largest enterprises and governments across 185 countries, TrendAI™ secures the entire organization, from identities, to infrastructure, to data. Global Fortune 500 companies rely on TrendAI™ to cut risk and stop threats up to three months earlier, powered by world-leading threat and attack intelligence. AI Fearlessly. About Anthropic Anthropic is an AI safety and research company dedicated to building reliable, interpretable, and steerable AI systems. Its Claude family of models enables advanced capabilities across a wide range of applications, including code understanding and security analysis. View original content to download multimedia:https://www.prnewswire.com/news-releases/trendai-joins-anthropics-project-glasswing-302790907.html
Anthropic scales its most powerful AI a day after filing to IPO
Money is a story we agree to believe. A dollar buys a dollar's worth because we all act as if it does, and a company is worth whatever the next buyer will pay, not a penny more. For most of the past century, the biggest stores of that belief were countries and the giant public companies their citizens could actually own a slice of. You could buy Coca-Cola, your local bank, or the carmaker down the highway, and the value sat in plain sight on a stock exchange. That arrangement is quietly breaking. Some of the most valuable enterprises on Earth are now private, held by venture funds and insiders rather than the public, and ordinary investors stay locked out until the company decides to let them in. The hottest of them all just took two steps that bring it closer to your brokerage account. Anthropic, the artificial intelligence (AI) lab behind the Claude chatbot, confidentially filed for an initial public offering (IPO) on June 1. A day later, it scaled its most powerful model to critical infrastructure across more than 15 countries. How AI startup Anthropic got bigger than most national economies Anthropic, founded in 2021 by a group of researchers who left OpenAI, raised $65 billion in a Series H round on May 28. The deal valued it at about $965 billion and pushed it past OpenAI as the most valuable AI startup in the world, according to CNBC. The filing drops Anthropic into a three-way sprint for the public markets. SpaceX is expected to list first, with Anthropic and OpenAI racing to be the second company ever to go public near or above a $1 trillion valuation, Axios reported. When I ran Anthropic's valuation against the IMF's 2025 GDP table, the AI lab landed around the world's 20th-largest economy, bigger than the yearly output of entire nations. * Anthropic's roughly $965 billion valuation tops the 2025 gross domestic product (GDP) of Belgium, Sweden, or Argentina, based on IMF figures. * Only about 21 countries produced more than $1 trillion in goods and services in 2025, according to the IMF. * Anthropic's revenue run rate reached about $47 billion in May, up from roughly $10 billion a year earlier, CNBC noted. A valuation is not the same as GDP. One measures what investors will pay for a piece of a company, while the other measures a full year of a country's output. Even so, the comparison captures something real about where wealth is pooling, and how few hands hold it. NurPhoto / Getty Images Why Anthropic scaled its most powerful model the day after filing The model at the center of the second announcement is Claude Mythos, which Anthropic has called its most powerful system, able to find thousands of zero-day software flaws over a matter of weeks, according to TechCrunch. On June 2, the company widened Project Glasswing, its effort to find and fix critical software vulnerabilities, to about 150 organizations across more than 15 countries, TechCrunch confirmed. An earlier cohort of 50 partners, including the U.S. government, got access in April. The newly added partners run power grids, water systems, hospitals, communications networks, and hardware supply chains. A major attack on some of them could affect "more than 100 million people," Anthropic said. The expanded group reportedly includes identity-security firm Okta (OKTA), South Korea's Samsung and SK Hynix, the NATO military alliance, and the European Union's cybersecurity agency, the Financial Times reported. In my reading, the timing is the real story. Rolling out a flagship security model the morning after an IPO filing is a confidence signal aimed straight at the investors Anthropic now needs to win over. It also lands in a fight. Rival OpenAI has released its own cybersecurity model, GPT-5.5-Cyber, to a group of testers, TechCrunch indicated. The two firms are "in a race to go public before capital runs out," DA Davidson analyst Gil Luria said, according to Al Jazeera. What a private trillion-dollar bet means for your wallet Here is the part that touches your money directly. You cannot buy Anthropic shares today, and no pricing date has been set. But you already own its world. Claude runs on chips from Nvidia (NVDA) and cloud capacity from Amazon (AMZN), Alphabet (GOOGL), and Microsoft (MSFT), the kind of stocks parked in most index funds and 401(k) plans. When Anthropic finally prices its IPO, it could reset how the entire AI complex gets valued, your holdings included. There is a quieter payoff, too. The same kind of model your kids will grow up alongside is now scanning the code that keeps hospitals and power grids running. Whatever you make of the trillion-dollar math, the machines have stopped just chatting. They have started guarding the lights, and the next test is whether public investors will pay a country's worth to own them. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc. This story was originally published June 3, 2026 at 5:33 PM.
The real Robinson Crusoe has been reimagined with historical accuracy - except for the talking goat
Add Yahoo as a preferred source to see more of our stories on Google. You might think you've already heard a story about someone marooned on an uninhabited island who needs to fight for survival. The iconic image of Tom Hanks desperately calling for Wilson, the anthropomorphised volley ball in Castaway (2000), probably comes to mind. There is also the juggernaut reality series Alone, the popularity of which raises questions about why its followers are so fascinated by isolation and survival. And then, of course, there is Daniel Defoe's famous tale of Robinson Crusoe. Review: Cast Away: or, the Surprising Adventures of Alexander Selkirk - Francesca de Tores (Bloomsbury) Defoe's book - the full title of which is The Life and Strange Surprizing Adventures of Robinson Crusoe, of York, Mariner - is widely considered the first English novel, though there are other contenders, including works by women who came before Defoe, such as Margaret Cavendish, author of The Blazing World (1666) and Aphra Behn, author of Oroonoko (1688). Published in 1719, amid the power struggle between the empires of England and Spain, Defoe's tale was a runaway bestseller. It is still in print. Robinson Crusoe was loosely based on the experience of Alexander Selkirk, who was rescued in 1709 after spending over four years marooned on an island in the Pacific Ocean. Francesca de Tores' new novel Cast Away returns to the inspiration for Defoe's seminal work. It is not only the story of an escape into the simplicity (and drudgery) of life on a deserted island; it is a timely and reassuring consideration of human resilience and resourcefulness. It is also a testament to de Tores's research: her willingness to draw from history and get elbow-deep in the goat skins. Research and authenticity Robinson Crusoe deviates from Selkirk's lived experiences in some key details. Crusoe's island is not in the Pacific but the Caribbean, where he is given the opportunity to attain dominion over nature and visiting humans for 28 years. Defoe also furnished his castaway with a shipwreck full of tables, chairs, tools, supplies and a dog, all of which helped him live a more comfortable existence. So did the fortuitous arrival of a human, whom he enslaved and named "Friday". Though he is self-reflective, Crusoe is a character written for an audience that was widely accepting of the ethics and practices of imperialism. Many readers at the time were persuaded that Defoe's novel was a true story. Its first-person narration proved a convincing technique to blur the edges of fact and fiction. These days, audiences demand more credibility from their historical narratives. We are bombarded with stories, in print and on screen. A discerning reader wants to shake out the dross and dedicate their reading time to something transporting and meaningful. This is an excellent reason why de Tores's novel should rise to the top of our to-be-read lists. Cast Away respects its historical research, even as it deploys fictional tropes made familiar by its predecessors. Extensive notes at the end of Cast Away clearly set out the line where historical facts limited the telling of a rounded story, and where de Tores took narrative leaps and made educated guesses. The honesty is refreshing. It enhances reader trust and does not diminish the enjoyment of the novel. It is evidence of the author's commitment to creating an immersive story. In a world flooded by AI slop, where we don't know what to trust anymore, this is important. De Tores reveals that she even took the time to learn how to cure a hide so this could be depicted with authenticity, as Selkirk cures goat skins for clothing, bedding and shelter. Rats, cats and goats Selkirk was a navigator on Cinque Ports, a ship accompanying explorer William Dampier on an expedition to raid and pillage Spanish galleons. The details of these preliminary circumstances are saved for late in the novel, but the questions around them hang in the air and maintain the suspense. In de Tores's novel, Selkirk is more experienced than his young commander Captain Stradling, and too honest for his own good. His reflections on the ethics of Dampier's journey of plunder leaves the famed explorer's reputation a little more stained that what we might have learned in primary school. The author's notes confirm: History did not record the story of the women in Selkirk's life, but the novel also includes a significant subplot which examines the lives of women involved with the sailors of the era. This offers us a convincing picture of gender disparity and bullying. Cast Away is not fast-paced, but it is pleasant to drift into the world of Selkirk and his struggle for survival. The novel is vivid on details of the ways he uses his meagre belongings, most of which were left with him when he was dumped on a tiny island in the Pacific's Juan Fernandez Archipelago, 650 kilometres off the coast of Chile. There are a lot of rats on the island, as well as plentiful cats and goats. Selkirk quickly drinks his "cask of flip" and realises the best remedy for the nibbling rats that keep him awake all night is to tame some of the island's many cats. Pickle and Sleek become comfort and protection, with the latter playing a key role in unpacking Selkirk's back story. Sleek is part of the novel's fiction, which is easy to discern, because the cat is given a speaking role, as is a grand old billy-goat: Reverend Vicarious Cronch. Their conversations with Selkirk begin at a point in the novel where he has been alone for some time and is contemplating his life at sea and in Scotland, which weigh on his conscience. As devices in the novel, these secondary animal characters are highly anthropomorphic. Like Tom Hanks and Wilson, they leave us in no doubt that Selkirk's sanity is a bit wobbly, and with good reason. The voice of history Author L.P. Hartley said "the past is a foreign country; they do things differently there". They said things differently there, too. Contemporary fiction rarely uses words like "thus" and "shall", with the exception perhaps of high fantasy genre works. De Tores takes a gentle approach, defamiliarising English usage enough to capture a faux-archaic voice of the period without overcooking it: Crisp, correct grammar, with some deference to the 18th century, eases the reader into the narrative flow. It is very readable and captures a sense of time that is easy to escape into. Selkirk is marooned with his Bible, and after reading it end to end a few times, he takes to it with charcoal and begins to create erasure poetry. His redactions seem intended to make a point about religion, but the inclusion of these poems does not do much to enhance the narrative. Whole pages are devoted to blacked-out text, which yield short ambiguous images, such as "the water shall not be forgiven". There is merit in experimentation in fiction, but this aspect of the novel does not add to its depth. Selkirk is already "full of goat meat and metaphors" without the erasure poems. In the context of the other exquisite writing in the novel, however, it is forgivable, with metaphors such as this: "I am impaled on the curve of time, as sharp and inevitable as the horn of a goat." Surviving alone Loneliness and isolation are key themes, yet Selkirk retains some agency, not only within the circumstance of being cast away, but in the choices he makes to pursue a life at sea. Selkirk the historical figure, and the character in this novel, had incredible resilience. Given an opportunity to be on reality television, this guy would certainly take home the prize. After damaging his flint, he eventually masters lighting a fire without one, pushing through the sore hands and lost embers. The novel captures the grim reality of his survival: the repetitive nature of foraging, hunting, feeding and building shelter; the cycle of destruction by human interference, goat, rat and storm. It doesn't take a genius to realise that our affluent lifestyles are balanced on a precipice that would be terrifying to a wild mountain goat. Lessons of resilience, of simple comforts, human strength and the beauty and provision in nature seem like things we need to hear in this time. To be marooned now in such a place might mean more plentiful materials washed up on the shore, but the business of hunting and gathering are more alien to us than they were to 18th century sailors. Cast Away is not an instruction manual for Alone contestants, but it does reassure us that human resilience is still there. If the contemporary pirates of the great empires dump us on the shore, we will make the best of what we find. This article is republished from The Conversation. It was written by: Donna Mazza, Edith Cowan University Donna Mazza does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
How the SpaceX could blast right into your 401(k)
SpaceX is planning a massive IPO, targeting a $1.8 trillion valuation when it hits the market. But there are still a lot of questions around Elon Musk's company and how it could affect your personal finances. Through major NASDAQ rule changes, its IPO could be added quickly to millions of people's 401(k) and indexes. The rules have been modified as bigger tech companies like OpenAI plan to launch IPOs, hoping to gain easier access on stock indexes. Learn more.
SpaceX's $75bn IPO breaks from Wall Street tradition on two counts
SpaceX is days away from what would be the largest initial public offering in history, and, predictably for an Elon Musk company, it is doing things differently. Rather than following the conventional playbook, where companies announce a price range, spend weeks on investor roadshows, and set a final price based on demand, SpaceX has opted for the highly unusual approach of setting a fixed price of $135 per share ahead of presentations to investors and formal bookbuilding. The company is targeting a raise of $75 billion, selling 555.6 million shares, at a valuation of at least $1.8 trillion. There is no rule banning the approach, but it is a significant departure from standard practice. In a conventional IPO, a price range serves two purposes: it frames valuation expectations and gives underwriters room to adjust to demand signals. By locking in a price upfront, SpaceX is, in effect, telling the market it does not need that mechanism. It already knows what it is worth. That confidence may be warranted given the company's profile, but the timing is genuinely complex. Alphabet has announced an $80 billion equity raise for AI infrastructure, directly competing with SpaceX for institutional capital at precisely the same moment. Behind them, OpenAI and Anthropic are both preparing listings of their own, offerings that will test whether investor appetite for transformative but loss-making AI ventures has a ceiling. SpaceX's own prospectus disclosed AI-related losses of more than $6 billion in 2025, with a further $2.5 billion burned in the first quarter of 2026 alone. The company posted a net loss of $4.28 billion in that quarter against a $1.75 trillion target valuation. That is not the profile of a business priced for caution. In another break from convention, SpaceX has reserved 30% of its IPO shares for retail investors, three times the historical norm for major listings. The roadshow began on 4 June, with pricing expected on 11 June and trading set to begin on 12 June under the Nasdaq ticker SPCX. The deal would more than double Saudi Aramco's 2019 listing as the largest IPO on record. Whether the fixed-price structure reflects supreme self-assurance or a deliberate squeeze on Wall Street's standard bookbuilding leverage is an open question. Either way, the next week will tell markets something important: not just about SpaceX, but about how much further the AI capital cycle has to run.
SpaceX Sets Its $1.75tn Valuation with Fixed $135 Share Price in Bold, Unconventional IPO Push
In a highly unusual move that underscores Elon Musk's willingness to rewrite the traditional IPO playbook, SpaceX is planning to price its shares at a fixed $135 each, aiming to raise a record $75 billion and achieve a $1.75 trillion valuation, according to sources cited by Reuters. The rocket and satellite company intends to sell 555.6 million shares in what would be one of the largest public offerings in history. The roadshow begins on Thursday, with the debut tentatively scheduled for June 12 on the Nasdaq under the ticker "SPCX". Goldman Sachs, Morgan Stanley, BofA Securities, Citigroup, and J.P. Morgan are leading the underwriting syndicate. Unlike conventional IPOs, where companies set a price range and adjust based on investor feedback during bookbuilding, SpaceX is taking a "take-it-or-leave-it" approach. This fixed-price strategy reflects Musk's confidence in strong demand and the company's unique position in the market. "Musk is simply taking a 'take-it-or-leave-it' approach which works for his followers and is also sensible given the market conditions and the lack of comparables," Weiheng Chen, a senior partner at Wilson Sonsini, noted. Breaking Tradition on Multiple Fronts SpaceX is deviating from norms in several other ways. The offering is structured as all-primary, meaning all proceeds go directly to the company rather than allowing existing shareholders to sell shares. Musk himself will face a 366-day lock-up period on his holdings, signaling a long-term commitment to investors. The company is also planning to allocate up to 30% of the shares to retail investors -- an unusually large portion designed to tap into Musk's dedicated following. Proceeds will fund expansion of AI computing resources and the Starlink satellite constellation, two areas central to Musk's vision of building an interconnected future that spans Earth and beyond. At a $1.75 trillion valuation, SpaceX would trade at approximately 93.7 times its 2025 revenue of $18.67 billion. This is rich even by high-growth tech standards. For comparison, Rocket Lab trades at around 118 times revenue, Palantir at 81 times, and Tesla at roughly 17 times. Morningstar recently valued SpaceX at $780 billion, well below its current private-market valuation, with most of the value attributed to the profitable Starlink business. The company's broader pitch to investors, however, rests heavily on futuristic bets: Mars colonization missions, space-based AI data centers powered by solar energy, and other technologies that do not yet exist at commercial scale. SpaceX has tied a significant portion of its growth narrative to a potential $28.5 trillion addressable market in these emerging areas. Financially, the picture is mixed. Starlink remains the clear cash cow, driving most revenue, profits, and growth. However, the launch services and other segments continue to burn cash. In the first quarter, revenue rose to $4.69 billion from $4.07 billion a year earlier, but losses widened. For the full year 2025, SpaceX swung to a net loss of $4.94 billion from a profit the prior year. The governance structure is designed to preserve Musk's control. As with Tesla, SpaceX is implementing a dual-class share structure that will concentrate voting power in the hands of Musk and a small group of insiders. While this ensures strategic continuity, it may give some institutional investors pause regarding corporate governance and long-term accountability. A Catalyst for the Next Wave of Mega IPOs SpaceX's listing is expected to kick off a wave of massive public debuts. Together with anticipated IPOs from OpenAI and Anthropic, these three companies alone could add nearly $4 trillion in market capitalization to public markets, intensifying competition for investor capital in an already crowded tech sector. The offering comes after years of subdued large-cap IPO activity. Strong demand is widely anticipated, fueled by Musk's track record and retail enthusiasm, but execution risks remain high. Two of SpaceX's three main businesses are still unprofitable, and much of the valuation depends on unproven future technologies. Still, business leaders don't seem to be backing out. "When you're the most anticipated IPO ever, you can ask investors to adapt to your process rather than the other way around," former Bank of America executive Craig Coben observed. Increasingly, analysts are seeing SpaceX's bold approach, fixed pricing, heavy retail allocation, and strong founder control as a reflection of Musk's signature style: high conviction, minimal compromise, and a long-term horizon that extends far beyond traditional Wall Street timelines.
TrendAI™ Joins Anthropic's Project Glasswing
Collaboration will support efforts to identify and remediate software vulnerabilities using advanced AI capabilities DALLAS, June 3, 2026 /PRNewswire/ -- TrendAI™, the enterprise AI security leader from Trend Micro Incorporated (TYO: 4704; TSE: 4704), today announced its participation in Project Glasswing, an initiative focused on helping organizations identify and address vulnerabilities in critical software systems. As part of the program, TrendAI™ will use Anthropic's Claude Mythos Preview to support the review and analysis of software code, helping threat intelligence researchers turn accelerated vulnerability discovery into coordinated disclosure, prioritized remediation, and measurable risk reduction through vulnerability shielding and virtual patching. AI is dramatically accelerating vulnerability discovery. TrendAI™ views this as a positive signal for the industry " it is part of the broader, collaborative ecosystem TrendAI™ has been actively contributing to for decades alongside organizations like Anthropic. Rachel Jin, Chief Platform and Business Officer, Head of TrendAI™: "We're aligned with Anthropic's goals of using AI to make all software more secure. Organizations increasingly depend on software that operates at tremendous scale and supports critical business functions. Project Glasswing represents an important opportunity to explore how advanced AI can help software providers identify vulnerabilities earlier and improve the security and resilience of the systems customers depend on every day." TrendAI™ joins a growing community of organizations participating in Project Glasswing to better understand how frontier and advanced AI models can support defensive security efforts and improve the security of critical software infrastructure. Insights gained through the program will contribute to informing the broader industry efforts to strengthen the security of the digital ecosystem. About TrendAI™ TrendAI™, the global AI security leader and enterprise business unit of Trend Micro, empowers organizations with full AI visibility and consolidated security that inspires confidence, drives innovation, and eliminates risk. Trusted by the largest enterprises and governments across 185 countries, TrendAI™ secures the entire organization, from identities, to infrastructure, to data. Global Fortune 500 companies rely on TrendAI™ to cut risk and stop threats up to three months earlier, powered by world-leading threat and attack intelligence. AI Fearlessly. About Anthropic Anthropic is an AI safety and research company dedicated to building reliable, interpretable, and steerable AI systems. Its Claude family of models enables advanced capabilities across a wide range of applications, including code understanding and security analysis. View original content to download multimedia:https://www.prnewswire.com/news-releases/trendai-joins-anthropics-project-glasswing-302790907.html
SpaceX's IPO is set to be the biggest ever and could make Elon Musk a trillionaire
By ALEX VEIGA and BERNARD CONDON, AP Business Writers NEW YORK (AP) -- SpaceX says it plans to raise up to $75 billion when it goes public this month, setting the stage for the largest-ever stock market debut and putting Elon Musk on course to becoming the world's first trillionaire. The company, formally known as Space Exploration Technologies Corp., said Wednesday it will sell 555.6 million shares at $135 a piece in an initial public offering. The estimated proceeds would easily top the $26 billion raised by oil giant Saudi Aramco in 2019. The offering would also give SpaceX a market value of $1.77 trillion. Only six companies in the S&P 500 are currently worth more, with Nvidia tops at $5.2 trillion. Besides the size of the offering and the expected proceeds, SpaceX's amended prospectus updates details about how much control of the company Musk will have. As SpaceX's CEO, chief technical officer and chairman, Musk's voting power will come primarily through his ownership of 5.22 billion Class B shares, which give the holder 10 votes for every share held. According to the filing, Musk would have 82.4% of the voting power in the company. Forbes currently values Musk's net worth at $826 billion and his stake in SpaceX at $542 billion. The estimated value of his SpaceX holdings was based on an overall value for the company of $1.25 trillion. Based on those numbers, a $1.77 trillion valuation for SpaceX would boost Musk's net worth by $223 billion, making him a trillionaire. However, much of Musk's worth is in stock that he has yet to cash in. Even as it makes a bid for a blockbuster market debut, SpaceX is currently losing billions of dollars a year. The filing shows that the company lost $2.6 billion from operations last year on $18.7 billion in revenue, and the losses kept piling up at the start of this year, too. Fantastical plans Time will tell how SpaceX fares on the market. Musk's plans for the company are as fantastical as the money he hopes raise in the sale. Colorful, even frightening in parts, the IPO document strikes a contrast with the typically dry, technical prose in IPO documents, detailing plans to use proceeds from the sale to help put men on the moon again and perhaps even Mars. In one section, it talks of a need to build "a permanent human colony" on the red planet with "at least one million inhabitants" as existential threats loom that could consign man to "the same fate as the dinosaurs." Musk has almost equally ambitious plans for his other publicly traded company, Tesla. His goal is to transform the maker of electric vehicles into a producer of robotaxis and humanoid robots. Dan Ives of Wedbush Securities wrote in a research note that he expects Tesla and SpaceX to merge next year. AI plays a key role Key to the success of both companies -- and any merged entity -- is artificial intelligence. In its IPO filing, SpaceX says it sees potential revenue from AI of up to $26.5 trillion. But that depends on another lofty Musk ambition -- putting data centers in space, which is not technologically possible at the moment. Transforming his space company into a primarily AI-focused company will be a challenge for Musk, who started xAI in 2023 with 11 other co-founders who have all since left. Some were recruited away by rivals. Its main AI product, the chatbot Grok, is "less impressive than anything that we see from any other major player in the space, whether that's OpenAI, or Anthropic, or (Google's) Gemini," said IDC analyst Arnal Dayaratna. Dayaratna said that doesn't mean SpaceX doesn't have potential as a major AI player, thanks in part to its computing partnership with Anthropic and Musk's recent deal that gave SpaceX the rights to buy AI coding tool Cursor for $60 billion later this year. Folding in Cursor's capabilities would give SpaceX access to the coveted business customers now using Anthropic's Claude or OpenAI's ChatGPT. SpaceX plans to use the net proceeds from the IPO to fund the expansion of infrastructure for its AI and rocket businesses, and to beef up the constellation of satellites that power Starlink Mobile, among other investments. The company plans to list on the Nasdaq under the symbol "SPCX" and could begin trading as soon as the end of next week. And SpaceX isn't the only colossal market debut investors are now bracing for. Earlier this week, Anthropic submitted a confidential filing with the U.S. Securities and Exchange Commission to officially start its own IPO clock. OpenAI has not yet reported filing the initial SEC paperwork, but an IPO from the ChatGPT maker is widely expected. "This listing represents the first major test for public markets after years of muted IPO activity with SpaceX paving the way for AI giants Anthropic and OpenAI to follow soon after," Ives wrote. Associated Press Technology Writer Matt O'Brien contributed.
SpaceX's IPO is set to be the biggest ever and could make Elon Musk a trillionaire
By ALEX VEIGA and BERNARD CONDON, AP Business Writers NEW YORK (AP) -- SpaceX says it plans to raise up to $75 billion when it goes public this month, setting the stage for the largest-ever stock market debut and putting Elon Musk on course to becoming the world's first trillionaire. The company, formally known as Space Exploration Technologies Corp., said Wednesday it will sell 555.6 million shares at $135 a piece in an initial public offering. The estimated proceeds would easily top the $26 billion raised by oil giant Saudi Aramco in 2019. The offering would also give SpaceX a market value of $1.77 trillion. Only six companies in the S&P 500 are currently worth more, with Nvidia tops at $5.2 trillion. Besides the size of the offering and the expected proceeds, SpaceX's amended prospectus updates details about how much control of the company Musk will have. As SpaceX's CEO, chief technical officer and chairman, Musk's voting power will come primarily through his ownership of 5.22 billion Class B shares, which give the holder 10 votes for every share held. According to the filing, Musk would have 82.4% of the voting power in the company. Forbes currently values Musk's net worth at $826 billion and his stake in SpaceX at $542 billion. The estimated value of his SpaceX holdings was based on an overall value for the company of $1.25 trillion. Based on those numbers, a $1.77 trillion valuation for SpaceX would boost Musk's net worth by $223 billion, making him a trillionaire. However, much of Musk's worth is in stock that he has yet to cash in. Even as it makes a bid for a blockbuster market debut, SpaceX is currently losing billions of dollars a year. The filing shows that the company lost $2.6 billion from operations last year on $18.7 billion in revenue, and the losses kept piling up at the start of this year, too. Fantastical plans Time will tell how SpaceX fares on the market. Musk's plans for the company are as fantastical as the money he hopes raise in the sale. Colorful, even frightening in parts, the IPO document strikes a contrast with the typically dry, technical prose in IPO documents, detailing plans to use proceeds from the sale to help put men on the moon again and perhaps even Mars. In one section, it talks of a need to build "a permanent human colony" on the red planet with "at least one million inhabitants" as existential threats loom that could consign man to "the same fate as the dinosaurs." Musk has almost equally ambitious plans for his other publicly traded company, Tesla. His goal is to transform the maker of electric vehicles into a producer of robotaxis and humanoid robots. Dan Ives of Wedbush Securities wrote in a research note that he expects Tesla and SpaceX to merge next year. AI plays a key role Key to the success of both companies -- and any merged entity -- is artificial intelligence. In its IPO filing, SpaceX says it sees potential revenue from AI of up to $26.5 trillion. But that depends on another lofty Musk ambition -- putting data centers in space, which is not technologically possible at the moment. Transforming his space company into a primarily AI-focused company will be a challenge for Musk, who started xAI in 2023 with 11 other co-founders who have all since left. Some were recruited away by rivals. Its main AI product, the chatbot Grok, is "less impressive than anything that we see from any other major player in the space, whether that's OpenAI, or Anthropic, or (Google's) Gemini," said IDC analyst Arnal Dayaratna. Dayaratna said that doesn't mean SpaceX doesn't have potential as a major AI player, thanks in part to its computing partnership with Anthropic and Musk's recent deal that gave SpaceX the rights to buy AI coding tool Cursor for $60 billion later this year. Folding in Cursor's capabilities would give SpaceX access to the coveted business customers now using Anthropic's Claude or OpenAI's ChatGPT. SpaceX plans to use the net proceeds from the IPO to fund the expansion of infrastructure for its AI and rocket businesses, and to beef up the constellation of satellites that power Starlink Mobile, among other investments. The company plans to list on the Nasdaq under the symbol "SPCX" and could begin trading as soon as the end of next week. And SpaceX isn't the only colossal market debut investors are now bracing for. Earlier this week, Anthropic submitted a confidential filing with the U.S. Securities and Exchange Commission to officially start its own IPO clock. OpenAI has not yet reported filing the initial SEC paperwork, but an IPO from the ChatGPT maker is widely expected. "This listing represents the first major test for public markets after years of muted IPO activity with SpaceX paving the way for AI giants Anthropic and OpenAI to follow soon after," Ives wrote. Associated Press Technology Writer Matt O'Brien contributed.
SpaceX sets the stage for a record $75 billion IPO
(CNN) -- Elon Musk's SpaceX unveiled plans Wednesday to raise $75 billion in an initial public offering of its stock that would value the company at roughly $1.77 trillion. The blockbuster debut could make Musk - already the world's richest person - the first trillionaire. SpaceX plans to sell 555.6 million shares at an initial price of $135 a share, the company said in a filing with the Securities and Exchange Commission. The decision to dictate one price target, as opposed to offering a range, is a unique move that reflects the hot IPO market around the AI craze and Musk's own tendency for mega-scale goals. Musk, who currently owns half of SpaceX, would still control nearly half of the company's total shares after the offering. However, some of those are special shares with greater voting power, and Musk will control 82.4% of the voting power after the IPO, according to the filing. The debut will be the biggest public offering in history, topping the previous record $29.4 billion raised by oil giant Saudi Aramco in 2019. The eye-popping figures come as the artificial intelligence race has sent startups to startling valuations even before they go public. Besides its rocket and satellite business, SpaceX has become a major player in artificial intelligence, a sector that's recently powered a Wall Street rally as tech companies announce developments in rapid succession. But those companies are still figuring out many practical applications for the technology - and how to turn a profit. SpaceX's long-anticipated public offering, which is set to start trading next Friday, is the latest sign of the commercialization of space travel and ambitious plans to establish human outposts on the Moon and Mars. But it's also indicative of Wall Street's current fixation on AI and the unprecedented wealth concentrated in the hands of technology executives. The SpaceX IPO documents emphasized not just expanding human space exploration but also the company's plans for artificial intelligence and putting data centers in space. The company plans to use proceeds from this stock offering, and likely future stock sales, to feed the massive capital expenditure needs of both its space and AI businesses. When Musk founded SpaceX in 2002, it was focused on building rockets and delivering payloads to outer space. The company expanded into telecommunications in 2021 when it rolled out Starlink, its satellite-based internet service. In February this year, Musk merged SpaceX with xAI, his artificial intelligence company that includes his social media platform, X. The company's rockets dominate the corporate space sector, launching not just astronauts but also satellites. But the AI component is a cornerstone of the company's valuation. Wall Street has been driving up the value of firms tied to the sector. While profits are still rare in the field, investors are betting that AI will increase productivity and corporate profits in the future, even if that comes at the cost of some existing jobs. Musk's stake in SpaceX would be worth $841 billion, assuming the company's shares do in fact trade at $135 a share. That alone would be roughly what Forbes' real team billionaire tracker estimates as the combined current net worth of the next three richest people on the list - Google founders Larry Page and Sergey Brin and another software mogul, Larry Ellison. Add in Musk's stake in Tesla, worth just less than $300 billion at Wednesday's closing price, and his net worth could reach up to $1.1 billion, more than the next three richest people, plus number five on the list, Amazon founder Jeff Bezos. SpaceX revealed its IPO plans last month - but stopped short of disclosing the price it expected its shares to fetch and, therefore, the valuation it is targeting. SpaceX isn't the only AI heavyweight preparing to go public: Anthropic has already announced plans, with rival OpenAI expected to follow. Together, the offerings could mint thousands of millionaires - and even some billionaires - despite the fact that these companies have yet to demonstrate a clear path to profitability.
Musk could become trillionaire when SpaceX goes public
SpaceX plans to raise up to 75 billion dollars (£56bn) when it goes public this month, setting the stage for the largest US stock market debut and putting Elon Musk on course to becoming the world's first trillionaire. The company, formally known as Space Exploration Technologies Corp, said it will sell 555.6 million shares at 135 dollars apiece. The offering would give SpaceX a market value of 1.77 trillion dollars. Only six companies in the S&P 500 are currently worth more, with Nvidia tops at 5.2 trillion. Besides the size of the offering and the expected proceeds, SpaceX's amended prospectus updates details about how much control of the company Mr Musk will have. As SpaceX's CEO, chief technical officer and chairman, his voting power will come primarily through his ownership of 5.22 billion Class B shares, which give the holder 10 votes for every share held. According to the filing, Musk would have 82.4% of the voting power in the company. Forbes currently values Mr Musk's net worth at 826 billion dollars and his stake in SpaceX at 542 billion. The estimated proceeds from the SpaceX IPO would easily top the 26 billion raised by oil giant Saudi Aramco in 2019. Time will tell how SpaceX fares on the market. Mr Musk's plans for the company are as fantastical as the money he hopes raise in the sale. The IPO document strikes a contrast with the typically dry, technical prose in normal documents, detailing plans to use proceeds from the sale to help put men on the moon again and perhaps even Mars. In one section, it talks of a need to build "a permanent human colony" on the red planet with "at least one million inhabitants" as existential threats loom that could consign man to "the same fate as the dinosaurs". Earlier this week, Anthropic submitted a confidential filing with the US Securities and Exchange Commission to officially start its own IPO clock. OpenAI has not yet reported filing the initial SEC paperwork but an IPO from the ChatGPT maker is widely expected.
SpaceX targets $1.8T valuation in historic IPO, solidifying Musk's control
The largest IPO in history could raise up to $75 billion while handing Elon Musk over 82% of voting control. SpaceX is preparing to go public at a valuation of at least $1.8 trillion, a figure that would make it the most valuable company to ever hit the public markets through an IPO. Elon Musk will walk away from the process with more voting power than he had going in. The listing is scheduled for June 12, 2026, on Nasdaq under the ticker SPCX. SpaceX plans to issue 555.6 million shares at approximately $135 each, with potential proceeds reaching up to $75 billion. The mechanics of Musk's grip Post-IPO, Musk is expected to retain between 82% and over 85% of voting control over the company through a dual-class share structure. The $1.8 trillion target represents a modest reduction from earlier expectations. Previous reports had pegged the valuation at over $2 trillion. SpaceX previously carried a private valuation around $800 billion. So going public at $1.8 trillion means existing shareholders are looking at a more-than-double return just on the listing event itself. 21 banks, one massive roadshow The company is working with 21 banks to facilitate the offering, led by Morgan Stanley, Goldman Sachs, and JPMorgan, with Bank of America and Citi also among the lead underwriters. A prospectus was expected on May 21, with the roadshow kicking off June 4. Pricing is set for June 11, just one day before shares begin trading. The SEC granted an expedited review process. What this means for investors A $75 billion IPO is a massive liquidity event. Fund managers rebalancing portfolios to make room for SPCX shares might trim positions in tech stocks, growth equities, or crypto-adjacent public companies. At $1.8 trillion, SpaceX would instantly rank among the top five or six most valuable companies on Earth. When companies stay private longer, they capture more of the upside before retail investors get access. SpaceX's private valuation was around $800 billion before this listing. Musk's retained voting control means SpaceX's strategic direction won't be subject to activist investor campaigns or board-level power struggles. Musk simultaneously runs Tesla, leads xAI, and owns X.
TrendAI™ Joins Anthropic's Project Glasswing
Collaboration will support efforts to identify and remediate software vulnerabilities using advanced AI capabilities DALLAS, June 3, 2026 /PRNewswire/ -- TrendAI™, the enterprise AI security leader from Trend Micro Incorporated (TYO: 4704; TSE: 4704), today announced its participation in Project Glasswing, an initiative focused on helping organizations identify and address vulnerabilities in critical software systems. As part of the program, TrendAI™ will use Anthropic's Claude Mythos Preview to support the review and analysis of software code, helping threat intelligence researchers turn accelerated vulnerability discovery into coordinated disclosure, prioritized remediation, and measurable risk reduction through vulnerability shielding and virtual patching. AI is dramatically accelerating vulnerability discovery. TrendAI™ views this as a positive signal for the industry - it is part of the broader, collaborative ecosystem TrendAI™ has been actively contributing to for decades alongside organizations like Anthropic. Rachel Jin, Chief Platform and Business Officer, Head of TrendAI™: "We're aligned with Anthropic's goals of using AI to make all software more secure. Organizations increasingly depend on software that operates at tremendous scale and supports critical business functions. Project Glasswing represents an important opportunity to explore how advanced AI can help software providers identify vulnerabilities earlier and improve the security and resilience of the systems customers depend on every day." TrendAI™ joins a growing community of organizations participating in Project Glasswing to better understand how frontier and advanced AI models can support defensive security efforts and improve the security of critical software infrastructure. Insights gained through the program will contribute to informing the broader industry efforts to strengthen the security of the digital ecosystem. About TrendAI™ TrendAI™, the global AI security leader and enterprise business unit of Trend Micro, empowers organizations with full AI visibility and consolidated security that inspires confidence, drives innovation, and eliminates risk. Trusted by the largest enterprises and governments across 185 countries, TrendAI™ secures the entire organization, from identities, to infrastructure, to data. Global Fortune 500 companies rely on TrendAI™ to cut risk and stop threats up to three months earlier, powered by world-leading threat and attack intelligence. AI Fearlessly. About Anthropic Anthropic is an AI safety and research company dedicated to building reliable, interpretable, and steerable AI systems. Its Claude family of models enables advanced capabilities across a wide range of applications, including code understanding and security analysis. View original content to download multimedia:https://www.prnewswire.com/news-releases/trendai-joins-anthropics-project-glasswing-302790907.html
