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Elon Musk’s strategy of folding his companies into one conglomerate is already paying off. Regulatory documents filed ahead of SpaceX’s historic IPO reveal that the company secured a $20 billion bridge loan from a group of major banks. That loan was used to retire $17.5 billion of high-interest junk debt accumulated by X and xAI. The financial […]
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The prospectus shows $18.7bn of 2025 revenue, a $4.27bn Q1 net loss, an accumulated deficit of $41.3bn, and a balance sheet that includes 18,712 bitcoin worth $1.29bn at quarter-end. SpaceX will list on Nasdaq under the ticker SPCX. SpaceX has filed its S-1 with the US Securities and Exchange Commission, opening the path to what […]
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SpaceX files S-1, opening the path to what would be the largest IPO in history Read More »
The AI industry’s most consequential race is no longer about building the best model. It is about getting to public markets first. OpenAI appears to have taken the lead. The company is preparing to confidentially file a draft of its IPO prospectus as soon as this week, according to CNBC, with Goldman Sachs and Morgan […]
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Weeks after Anthropic’s Mythos AI model sent shockwaves through the financial system, America’s top banking regulators are stepping back from the exam room to give the country’s largest lenders time to shore up their defences. The Federal Reserve and the Office of the Comptroller of the Currency are pausing some cyber-related examinations of the biggest […]
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US regulators pause bank cyber exams so Wall Street can patch Mythos vulnerabilities Read More »
Intercontinental Exchange, the parent company of the New York Stock Exchange, is preparing to launch futures contracts tied to the cost of computing power, marking the latest sign that Wall Street sees AI infrastructure as the next great commodity market. ICE announced on Monday that it will team with Ornn, a financial-infrastructure firm whose […]
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Coursera has announced a $500 million share repurchase programme, its first buyback since going public in 2021 and one that arrives exactly one week after the online learning company completed its merger with Udemy. The board approved the programme on Sunday 18 May 2026, funding it from existing cash balances and cash flow from […]
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OpenAI launches ChatGPT for personal finance, will let you connect bank accounts Read More »
Gemini Space Station shares surged more than 20% in premarket on Friday after the Winklevoss Capital Fund bought $100m of stock at $14, well above Thursday’s $5.26 close, and the exchange reported a smaller Q1 loss than expected. The Winklevoss twins have written a $100m cheque to their own company. Winklevoss Capital Fund, the family […]
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The Winklevoss twins paid 2.5x the share price to lift Gemini off the floor Read More »
For ten months, Figma has been a case study in how quickly Wall Street can fall out of love. The company went public on 31 July 2025 at $33 a share, soared past $140 on its debut, and has spent most of 2026 in freefall, battered by Google’s free Stitch design tool, Anthropic’s Claude […]
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Figma’s numbers say AI is a tailwind. Its stock price says the market isn’t sure. Read More »
Revolut is planning to launch a private banking unit in the United Kingdom and parts of Europe as soon as this summer, according to a person with knowledge of the matter. The eligibility threshold is 500,000 pounds, roughly 675,000 dollars. Coutts, the private bank owned by NatWest that has served the British establishment since […]
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