SpaceX is set to launch its initial public offering (IPO) on June 12, and its public debut is poised to make history. The company plans to sell 555,555,555 shares at a fixed price of $135 per share, raising $75 billion in capital. At that valuation, the space-tech company will have a market capitalization of roughly $1.77 trillion -- making it by far the biggest IPO in history. SpaceX published it...
SpaceX is set to launch its initial public offering (IPO) on June 12, and its public debut is poised to make history. The company plans to sell 555,555,555 shares at a fixed price of $135 per share, raising $75 billion in capital. At that valuation, the space-tech company will have a market capitalization of roughly $1.77 trillion -- making it by far the biggest IPO in history. SpaceX published its IPO prospectus on May 20, giving investors a detailed look into the company's financials, growth initiatives, and risk outlook. For example, the document shows that SpaceX recorded $18.7 billion in revenue last year and posted a net loss of $4.9 billion in the period. Notably, the document also includes a shocking performance-based incentive that could see CEO Elon Musk awarded 1 billion shares of SpaceX stock. Image source: Getty Images. Continue reading
Traders work at the New York Stock Exchange on June 9, 2026. NYSE U.S. stock futures fell early Wednesday after the U.S. launched "self-defense strikes" against Iran , in retaliation for the downing of a helicopter a day earlier. S&P 500 futures and Nasdaq 100 futures shed 0.50% and 0.87%, respectively. Futures tied to the Dow Jones Industrial Average fell by 140 points, or 0.28%. Asia-Pacific mar...
Traders work at the New York Stock Exchange on June 9, 2026. NYSE U.S. stock futures fell early Wednesday after the U.S. launched "self-defense strikes" against Iran , in retaliation for the downing of a helicopter a day earlier. S&P 500 futures and Nasdaq 100 futures shed 0.50% and 0.87%, respectively. Futures tied to the Dow Jones Industrial Average fell by 140 points, or 0.28%. Asia-Pacific markets closed mostly lower Wednesday as tech stocks sold off. South Korea's Kospi slumped 4.52%, while Japan's Nikkei 225 fell 1.89%. Mainland China's CSI 300 lost 1.11% to 4,748.59. Australia's benchmark S&P/ASX 200, bucked the broader trend, dropping 0.57% to 8,653.30. Oil prices ticked higher after the strike, and West Texas Intermediate crude futures were last up roughly 1%, trading around $89 a barrel. Tensions in the Middle East ramped up again on Tuesday evening, after U.S. forces launched strikes against Iran "in response to yesterday's downing of a U.S. Army Apache helicopter," U.S. Central Command said. President Donald Trump had earlier accused Iran of shooting down the helicopter, which he said was patrolling over the Strait of Hormuz . Iran has not directly claimed responsibility for shooting down the helicopter. However, this latest development threatens the fragile ceasefire between the U.S. and Iran, and could hinder progress toward a peace deal. In regular trading Tuesday, chip stocks sold off again, dragging the S&P 500 and Nasdaq Composite lower by 0.26% and 0.97%, respectively. On the other hand, the blue-chip Dow rose 86.10 points, or 0.17%. Tuesday's rout was an extension of last week's pullback, which followed a rally driven by artificial intelligence. "If we're talking about the substance of what we've seen over the past few weeks, it's really been concentrated in that memory, semiconductor area that's lifted the market. It's been the real force behind everything, and really it's run so hard that it feels very toppy at this moment," said Marta Norton ,...
News and buildup as World Cup countdown continues Player guide | Bracketology | Wallchart | Mail Tom England are gearing up for their final pre-tournament warmup, against Costa Rica in Orlando, with notes of caution being sounded about Bukayo Saka’s fitness. Thomas Tuchel said that while Saka’s fellow Arsenal late-arrivers Declan Rice, Eberechi Eze and Noni Madueke were pretty much up to speed, “B...
News and buildup as World Cup countdown continues Player guide | Bracketology | Wallchart | Mail Tom England are gearing up for their final pre-tournament warmup, against Costa Rica in Orlando, with notes of caution being sounded about Bukayo Saka’s fitness. Thomas Tuchel said that while Saka’s fellow Arsenal late-arrivers Declan Rice, Eberechi Eze and Noni Madueke were pretty much up to speed, “Bukayo is just not there yet. Some things are missing … consecutive trainings. They took very good care of him [at Arsenal] and were very aware of it and we will do a little bit the same. He is at the moment not able to do every training session through the week and then play. He is still going to be managed”. David Hytner has the full story: Continue reading...
Get up to speed with key market intelligence, news and insight before trading starts each day in this fast-growing economy with the Markets Daily India newsletter. Sign up here . India has ramped up purchases of liquefied natural gas from the spot market as importers rush to replace disrupted Middle Eastern supply and meet demand from fertilizer plants, power generators and households. At least fi...
Get up to speed with key market intelligence, news and insight before trading starts each day in this fast-growing economy with the Markets Daily India newsletter. Sign up here . India has ramped up purchases of liquefied natural gas from the spot market as importers rush to replace disrupted Middle Eastern supply and meet demand from fertilizer plants, power generators and households. At least five state-run companies, including Indian Oil Corp. and Gujarat State Petroleum Corp. , have issued purchase tenders or bought shipments for June and July delivery this week, according to traders. The buying will help meet requirements from fertilizer producers, which use gas as a feedstock and are ramping up output ahead of the planting season. It’s a major turnaround for India, which had cut back LNG purchases in March and April as the the war in Iran sent prices of the super-chilled fuel higher. Now, India is moving to replace LNG shipments lost from Qatar and the United Arab Emirates, which together account for 57% of its pre-war imports. The surge in consumption is coming at a cost. Spot LNG prices have climbed to about $18 to $19 per million British thermal units, compared with roughly $13 per million Btu under long-term supply contracts. India is now buying almost six LNG cargoes a month from the spot market for fertilizer production, compared with less than one cargo before the conflict, according to people familiar with the matter. Fertilizer plants had previously relied largely on long-term contracted supplies. Natural gas is the primary feedstock for urea production, and demand typically peaks during June and July when farmers begin planting rice and other monsoon crops. As one of the world’s largest consumers of urea, India depends on steady gas supplies to support agricultural output and contain food inflation. The buying spree also comes as hotter summer weather has boosted demand for gas-fired power generation, with electricity producers stepping up purchases....
TDK Corp. is spending as much as $400 million to buy Fabric8Labs Inc. , a US startup that’s developed a technology that can be used to improve data-center cooling systems. The Tokyo-based supplier of batteries for Apple Inc. ’s iPhones will acquire all shares of the San Diego-based company in a cash transaction consisting of an upfront payment and earnouts spanning several years. It’s a key part o...
TDK Corp. is spending as much as $400 million to buy Fabric8Labs Inc. , a US startup that’s developed a technology that can be used to improve data-center cooling systems. The Tokyo-based supplier of batteries for Apple Inc. ’s iPhones will acquire all shares of the San Diego-based company in a cash transaction consisting of an upfront payment and earnouts spanning several years. It’s a key part of TDK’s medium-term plan for growth and of its data center initiatives, the company said on Wednesday. Established in 2015 and now numbering about 150 staff, Fabric8Labs has pioneered a 3D-metal printing technology called electrochemical additive manufacturing. The technique is seen as an efficient way to process pure copper into cold plate inserts connecting to semiconductors inside data center servers. Copper has the best balance of thermal conductivity and cost, but it’s difficult to shape into complex structures with conventional 3D printers that use ultraviolet waves or infrared lasers. TDK is looking to capitalize on roaring demand for AI infrastructure and the need for more sophisticated cooling to match ever more dense arrays of chips. Nvidia Corp. ’s upcoming Vera Rubin platform, for example, will use liquid cooling when installed in data centers. The Japanese company is ramping up spending in an attempt to expand beyond smartphone components and energy-storage systems and position itself as an AI hardware supplier like rivals Murata Manufacturing Co. and Taiyo Yuden Co. TDK’s shares are more than double what they were last year, with planned data center buildouts requiring more passive components that it and its competitors make. But its stock price lags Murata shares’ more than 300% rise and Taiyo Yuden’s more than 500% gain. The stocks of all three retreated during trading in Tokyo after hitting record highs in recent weeks. TDK is betting that its batteries and sensors will be in high demand for devices designed to run AI agents, while data centers will require...
China’s passenger car exports jumped 73% year-on-year in May to around 809,000 vehicles, an industry group reported Wednesday, as higher gasoline and diesel prices due to the war in Iran raised interest in electric vehicles. The China Association of Automobile Manufacturers said Wednesday that exports of pure EVs and plug-in hybrids more than doubled in May from a year earlier to about 435,000 uni...
China’s passenger car exports jumped 73% year-on-year in May to around 809,000 vehicles, an industry group reported Wednesday, as higher gasoline and diesel prices due to the war in Iran raised interest in electric vehicles. The China Association of Automobile Manufacturers said Wednesday that exports of pure EVs and plug-in hybrids more than doubled in May from a year earlier to about 435,000 units, or more than half. Chinese automakers such as BYD have been stepping up their overseas expansions, targeting markets including in Latin America, Asia and Europe at a time when domestic demand is coming under pressure in partly due to scaled back government incentives for drivers to switch to EVs.