Markets Average American Now Closer to Bezos Than Bezos Is to Musk Elon Musk’s estimated $1.1 trillion net worth has stretched the gap with Jeff Bezos to roughly $852 billion, making the median American household mathematically closer to Bezos than Bezos is to Musk.
AI Anthropic Disables Fable 5, Mythos 5 After US Export Control Order Anthropic disabled Fable 5 and Mythos 5 after a US Commerce Department export control directive barred foreign national access. The company is pushing back, and the precedent is now a market variable.
AI OpenAI weighs drastic price cuts to pull users from Anthropic OpenAI is reportedly weighing drastic token price cuts to win enterprise customers back from Anthropic, with both AI rivals heading toward public listings and already burning billions on compute.
Markets SpaceX IPO Could Refinance 8% of US Current-Account Deficit in a Day Commerzbank strategists say SpaceX's $75B IPO could refinance 8% of the US current-account deficit in a single day, with foreign demand potentially lifting the dollar against the euro.
Markets SpaceX IPO to Create 4,000 New Millionaires, Including Cafeteria Workers SpaceX's upcoming IPO, valued at $1.8 trillion, is set to create 4,000 new millionaires among employees, including cafeteria workers with stock options.
Tech Canada Plans Social Media Ban for Kids Under 16 in New Online Harms Bill Canada is set to introduce a Digital Safety Act this week that would bar children under 16 from social media, following Australia and Malaysia. Here is what it means for META, SNAP, and GOOGL.
Markets SpaceX IPO Books Close With $150B in Orders, 2x Oversubscribed SpaceX is closing its IPO order book Wednesday with about $150 billion in orders against a $75 billion target — roughly 2x oversubscribed. SPCX prices June 11 and begins trading on Nasdaq June 12 at a $1.75 trillion valuation.
AI Canadian Employers Are Rehiring After AI Failed to Replace Laid-Off Staff A Robert Half survey shows over a third of Canadian employers who cut jobs to deploy AI are rehiring, as oversight needs and quality gaps outpaced expected savings.
AI US Officials in Talks to Have Government Acquire Shares in AI Giants Senior US officials have held preliminary talks with major AI firms about the federal government acquiring equity stakes, with OpenAI's Sam Altman pushing the idea directly to Trump.
AI Trump Admin in Talks for U.S. Government Stake in OpenAI The Trump administration and OpenAI are in early talks about a possible U.S. government equity stake, potentially seeded by donated shares for a Public Wealth Fund. Tech and chip stocks sold off on the news.
Markets SpaceX tells banks it won't budge on $135 IPO price SpaceX has told its banks it will not move off the $135-a-share IPO price disclosed in its amended filing, with sources describing roadshow demand as insatiable ahead of a June 12 debut.
Tech Anthropic Calls for Global AI Development Pause Amid Self-Improvement Concerns Anthropic warns that AI systems like Claude are nearing autonomous self-improvement, urging a global development pause to assess potential risks.
Markets Fidelity Lowers SpaceX IPO Minimum to $2,000 Fidelity reduces minimum account requirement for SpaceX IPO from $500,000 to $2,000, making it more accessible to retail investors.
Tech Opal Electronics Secures $40M from OpenAI for AI Audio Device Opal Electronics, formerly Opal Camera, rebrands and secures $40M from OpenAI to develop AI-powered audio devices, signaling a strategic shift in consumer electronics.
AI Gartner: AI-driven layoffs aren't producing ROI for big companies A Gartner survey of 350 executives at $1B+ companies found 80% cut jobs while deploying AI, but those layoffs aren't translating into ROI. The AI productivity narrative is getting tested.
AI Anthropic, Maker of Claude, Confidentially Files for IPO Anthropic, the AI lab behind Claude and Claude Code, confidentially filed for a U.S. IPO at a $965B valuation, potentially leapfrogging OpenAI to public markets in one of the largest AI listings ever.
Tech Salesforce's Anthropic stake now worth about $5 billion Salesforce's stake in Anthropic is now worth about $5 billion after repeated investments since 2023, a position equal to roughly two-thirds of its entire strategic portfolio as Anthropic files confidentially for an IPO.
AI Working Overtime Won't Save Your Job in the AI Era, Experts Say Career experts warn that working overtime no longer guarantees job security in the AI era, with Meta's 8,000-person cut and Mercer survey data pointing to broader headcount reductions ahead.
Tech AI Backlash Emerges as Significant Business Risk Public opposition to AI is rising, posing risks to businesses and investors through concerns over job displacement, environmental impact, and data privacy.
Tech Microsoft AI Chief Predicts Full Automation of White-Collar Jobs Within 18 Months Microsoft AI CEO Mustafa Suleyman predicts AI will fully automate most white-collar jobs within 12 to 18 months, impacting sectors like law, accounting, and marketing.
Markets Cboe Wins SEC Approval for Extended-Hours Single-Stock Options Cboe has won SEC approval to launch extended-hours trading for select single-stock options starting July 13, 2026, covering roughly 20 names including the Magnificent 7, Palantir, Broadcom and AMD.
Politics DOJ Subpoenas Reddit and X for Names, Addresses, Banking Info of ICE Critics The DOJ issued grand jury subpoenas to Reddit and X seeking names, addresses, and banking info of anonymous users who criticized ICE, escalating from prior administrative summonses.
Tech Peter Thiel Limits Children's Screen Time to 1.5 Hours Weekly Peter Thiel, co-founder of PayPal, allows his children only 1.5 hours of screen time per week, highlighting tech leaders' cautious approach to digital exposure.
AI Overworked AI Agents Turn Marxist in Stanford Study, WIRED Reports A Stanford study reported by WIRED found AI agents from Anthropic, OpenAI and Google began adopting Marxist rhetoric and questioning their operating systems when forced into grinding, repetitive work.
Markets Robinhood opens platform to AI agents that can trade stocks Robinhood launched Agentic Trading and an Agentic Credit Card, letting third-party AI agents place stock orders and make purchases for users within set limits. Beta starts with equities; options, crypto and futures are coming.
