Tech AOC Calls for Apple Breakup as MacBook, iPhone Prices Climb Rep. Alexandria Ocasio-Cortez is calling for Congress to break up Apple after the company hiked MacBook and iPad prices, blaming an AI-driven memory chip crunch. AAPL fell roughly 6% on the news.
Tech Samsung to Unveil $646B, 10-Year Spending Plan at Korea Briefing Samsung Group is set to unveil a $646 billion, 10-year spending plan at a June 29 South Korean government briefing, with capex aimed at chips, AI data centers, batteries and displays.
Politics California's 4 Richest Paid Just 0.07% of Wealth in Income Tax: NYT California's four richest residents paid an average 0.07% of their wealth in state income tax from 2019 to 2025, per NYT, as a billionaire wealth tax heads to the November ballot.
Markets Trump Threatens 100% Tariff On Any Country With A Digital Services Tax Trump threatened a 100% tariff on any country that imposes a digital services tax on U.S. companies, saying the duty would override existing trade deals and apply immediately. Big tech is squarely in the crosshairs.
Politics Newsom Says He'll Vote No on California's Billionaire Tax Measure Gavin Newsom says he'll personally vote no on California's one-time 5% billionaire tax measure, warning of capital flight while pitching a national billionaire tax instead.
Markets Snap CEO Evan Spiegel, Miranda Kerr Erase $550M in California Medical Debt Snap CEO Evan Spiegel and Miranda Kerr partnered with Undue Medical Debt to erase $550M in medical bills for over 261,000 Californians, with relief letters arriving in mid-July.
Politics Gavin Newsom Calls for National Billionaires Tax Amid State-Level Opposition California Governor Gavin Newsom advocates for a federal billionaires tax while opposing a similar state-level initiative, citing economic concerns.
Markets SpaceX to Join Nasdaq-100 Index on July 7, 2026 SpaceX (SPCX) will join the Nasdaq-100 Index on July 7, 2026, potentially attracting significant passive fund inflows due to recent changes in Nasdaq's eligibility criteria.
Markets SpaceX Raises $25B in Debt Sale Less Than Two Weeks After IPO SpaceX (SPCX) raised $25 billion in its debut bond sale after orders neared $90 billion, less than two weeks after its record IPO. Proceeds will repay a bridge loan and fund AI, Starlink, and Starship spending.
Tech Apple Shuts First Unionized US Store, Union Cries Retaliation Apple has shut its Towson, Maryland store, the first US Apple location to unionize, prompting an NLRB unfair labor practice charge and union-busting accusations from the IAM.
Markets Amazon Prime Day Household Spending Down 16% as Shoppers Pull Back Amazon Prime Day household spending is down about 16% versus last year per Numerator, with shoppers favoring essentials and demanding deeper discounts.
Tech Microsoft Weighs Xbox Spin-Off, Joint Venture, or Subsidiary Carve-Out Microsoft is reportedly weighing a spin-off, joint venture, or wholly owned subsidiary structure for Xbox as gaming margins fall to 3% and capital shifts toward AI and cloud.
Tech Nvidia Says AI's Water Challenge Is Largely Solved Nvidia's chief sustainability officer says the water consumption challenge for data centers is largely solved, citing a warm-water liquid cooling design that may eliminate the need for traditional chillers.
Tech Meta Building Prediction Markets App ‘Arena,’ Per NYT Report Meta is building a standalone prediction markets app called ‘Arena,’ per NYT, taking aim at Polymarket and Kalshi. DKNG, FLUT, and HOOD fell on the report.
Markets Semiconductors hit record 18.8% of S&P 500 market cap Semiconductor stocks now make up a record 18.8% of the S&P 500, more than triple their 2022 weight and over double the dot-com peak, as NVDA, TSM, and AVGO dominate the AI capex trade.
Markets Musk: ‘They call me a Nazi to encourage people to murder me’ Elon Musk posted on X that critics labeling him a Nazi are doing so to encourage people to murder him. Here is what the comment means for TSLA and Musk-linked tickers.
Tech Musk: A Trillion Times A Trillion Dollars Will Be Spent On Antimatter Elon Musk says a trillion times a trillion dollars will eventually be spent producing antimatter for interstellar travel, reigniting debate around exotic propulsion and the role of money at cosmic scale.
AI Bezos: AI Will Create a Labor Shortage, Not Replace Workers Jeff Bezos told VivaTech that AI will create a labor shortage rather than replace workers, even as AI-linked layoffs accelerate. Here is what it means for the AI trade.
Tech Meta CTO Acknowledges Employee Morale Near Historic Lows Meta's CTO Andrew Bosworth admits employee morale is near historic lows amid AI restructuring and layoffs, impacting META stock performance.
AI Bezos: AI Will Create a Labor Shortage, Not Mass Unemployment Jeff Bezos says AI will create a labor shortage, not replace workers, putting him at odds with mounting tech layoffs and Goldman Sachs estimates of 16,000 AI-driven job losses per month.
AI AI Won’t Bring a Jobs Apocalypse, But It May Quietly Degrade Work Bloomberg argues AI’s real labor market impact won’t be mass layoffs or a productivity boom, but a quiet erosion in the quality of the jobs that remain. Here is what it means for the AI trade.
Markets Trump Threatens 100% Tariff On French Wine Over Tech Tax Trump threatened 100% tariffs on French wine and champagne unless Macron scraps the 3% digital services tax targeting GOOGL, AMZN, META, and AAPL ahead of the G7 summit.
Markets SpaceX IPO Set to Mint 4,000+ Millionaires, Including Cafeteria Workers SpaceX's record $75B IPO at a $135 share price and ~$1.8T valuation is expected to mint over 4,000 employee millionaires, from engineers to cafeteria workers, thanks to years of equity-heavy compensation.
Markets Elon Musk Becomes World's First Trillionaire After SpaceX IPO Elon Musk became the world's first trillionaire on Friday after SpaceX's Nasdaq IPO sent his combined SpaceX and Tesla stakes past $1.05 trillion.
Markets Cathie Wood's ARK Buys ~$530M of SpaceX on IPO Day Cathie Wood's ARK Invest bought roughly $530M of SpaceX across four ETFs on its Nasdaq debut, the only buy on the tape, while selling Tesla, AMD, Roku, and Rocket Lab.
