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The AI industry's two biggest names are betting on radically different capital strategies — and one of them is wrong. OpenAI is playing hardball on its $1 trillion valuation by delaying its IPO to 2027 rather than accept a lower number. Meanwhile, Chinese rival DeepSeek has abandoned its techno-idealist "no funding, no commercialization" stance entirely to raise a record $7 billion and sprint toward AGI at full throttle. The winner of this bet will shape how AI...
4.1% — The Fed's preferred inflation gauge, the May PCE index, climbed to its highest level in more than three years. That's nearly double where it was a year ago, and it puts Chairman Kevin Warsh's famously opaque Fed in a bind: markets are still guessing whether rate hikes, a hold, or a hike-hint is coming next.
Airwallex just raised $320 million at an $11 billion valuation — a 38% premium over its last round — and promptly said it has no immediate plans to go public. The Melbourne-born, San Francisco-headquartered fintech crossed $1.3 billion in annualized revenue (up 74%) and $287 billion in transaction volume (more than doubled). The real story isn't the money. It's what Airwallex is doing with it: launching T0, an AI-powered product that gives startup founders a full...
Investors spent Thursday chasing the AI trade into unexpected new territory. Micron Technology delivered the headline grabber — shares surged 18% in premarket trading after the chipmaker posted a fiscal Q3 beat and unveiled $22 billion in long-term customer commitments across 16 deals with data center operators, automakers, and others. Bank of America immediately raised its price target to $1,550, seeing 48% upside. The stock has returned 724% over the...
Prediction markets have evolved from a crypto curiosity into the most voracious new asset class in finance — and the battle to own them is only getting started. Kalshi's valuation trajectory tells the story: $5 billion in October, $11 billion in December, $22 billion in May, and now a reported hunt for $40 billion.
$41.46 billion — that's Micron's fiscal Q3 revenue, more than quadrupling from $9.3 billion a year ago and smashing the $35.84 billion consensus by a mile. Adjusted EPS of $25.11 blew past the $20.78 estimate, sending shares surging 16% in extended trading and pushing the memory maker past the $1 trillion market cap milestone for the first time. Gross margins hit a jaw-dropping 84.9%, up from 39% a year ago.
Qualcomm is acquiring Silicon Valley chip startup Modular for nearly $4 billion in equity, the companies announced Wednesday — a monster exit for a company that raised a $250M round at a $1.6B valuation just nine months ago. Founded in 2022 by Chris Lattner (the creator of LLVM and Apple's Swift) and Tim Davis, Modular built a software layer that lets AI developers write code once and deploy it across any chip — Nvidia, AMD, or otherwise — effectively...
The tech-stock party hit a wall on Tuesday as a 10% crash in South Korea's KOSPI — sparked by reports that SK Hynix is slowing AI memory chip expansion — crossed the Pacific and slammed into Wall Street. The Nasdaq Composite plunged 579 points (-2.2%) to 25,587, the S&P 500 dropped 1.4% to 7,365, and the NASDAQ 100 sank 2.6%. It was the kind of day that makes you check whether your stop-losses actually work.
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Baseten just closed a $1.5 billion raise at a $13 billion valuation — a monster round for a company most people outside AI infrastructure have never heard of. The California-based startup, co-founded by Australians, sells software and computing infrastructure that lets companies customize their own AI models without feeding data to OpenAI or Anthropic. Revenue has grown 20-fold in the past year, driven by surging demand for "inference" — the phase where trained AI...
SpaceX (SPCX) posted a third straight daily loss Monday, shedding 16.4% to trade below $170 — essentially wiping out its post-IPO gains from the June 12 record $75 billion listing. The selloff comes as the company simultaneously markets its first-ever investment-grade bond sale to raise at least $20 billion for AI ambitions, with Bank of America, Citi, Goldman, JPMorgan, and Morgan Stanley arranging calls with investors. MSCI has already slapped a 1-out-of-10...
The IPO window has finally unseized after a brutal, war-chilled winter — and the companies now charging through share two things: real revenue and a splash of AI stardust.
Monday alone saw three US roadshows launch simultaneously, plus a billion-dollar Hong Kong filing: