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 us…
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 it…
Q1 revenue $81.6bn (+85% YoY), data centre $75.2bn, net income $58.3bn. The quarterly dividend moves from a penny to 25 cents per share. The buyback is the second $80bn authorisation in three quarters. Nvidia reported first-quarter revenue of $81.6bn o…
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 s…
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 t…
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 ma…
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 o…
ChatGPT now lets Pro subscribers in the US connect their bank accounts through Plaid to get personalized financial guidance and spending analysis.
Once users connect their accounts, they will see a dashboard of their portfolio performance, spending, subscriptions, and upcoming payments.
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 h…