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June 12, 2026, 11:15 AM
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Top News

Bailey Lipschultz / Bloomberg:
SpaceX raises $75B in the biggest-ever IPO, pricing 555.6M shares at $135 each, giving it a market value of $1.77T  —  SpaceX has made history with the biggest-ever IPO, launching it into the top ranks of the largest public companies and putting founder Elon Musk on the verge of becoming the world's first trillionaire.
Reuters:
SpaceX's trading debut will be a test of the “Musk premium”, the force behind Tesla's $1T+ valuation, and a gauge of investor appetite ahead of upcoming AI IPOs  —  SpaceX (SPCX.O) is set to begin trading on Nasdaq on Friday after investors poured $75 billion into the world's biggest IPO ever …
New York Times:
Some investors question SpaceX's projected $1.77T valuation, citing its $4.3B loss on $4.7B in revenue in Q1, concerns over space data centers, and more
Wall Street Journal:
Sources: BlackRock put in an order to buy at least $5B worth of SpaceX shares; SpaceX received an over $1B request from a single family-office investor
Cecilia Kang / New York Times:
Google sues Chinese cybercrime network Outsider Enterprise, accusing it of using Gemini AI to create fake websites and scam hundreds of thousands of Americans  —  Google warned that artificial intelligence had supercharged the problem of online scams.Andria Lo for The New York Times
Lorenzo Franceschi-Bicchierai / TechCrunch:
Oracle warns customers of a critical PeopleSoft flaw after ShinyHunters claimed breaches of 100+ organizations using PeopleSoft; Oracle has not issued a patch  —  Oracle warned its corporate customers that there is a critical-rated vulnerability in its PeopleSoft software …
Luc Cohen / Reuters:
Sam Bankman-Fried loses his bid to overturn his fraud conviction and 25-year prison sentence over the collapse of FTX  —  Sam Bankman-Fried lost on Friday his bid to overturn his fraud conviction and 25-year prison sentence over the collapse of the FTX cryptocurrency exchange he founded.
Christopher Dring / The Game Business:
Q&A with Xbox Chief Strategy Officer Matthew Ball about returning to console-exclusive releases, how using in-game ads could offset development costs, and more  —  ‘If Xbox can turn things around, the whole industry can,’ says Ball  —  Listen now on Apple, Spotify or YouTube
Jon Brodkin / Ars Technica:
Ted Cruz and Ron Wyden introduce the JAWBONE Act, which would let Americans sue US officials who try to coerce broadcasters or platforms into censoring speech  —  US Senators Ted Cruz (R-Texas) and Ron Wyden (D-Ore.) today introduced the JAWBONE Act, a proposed law that could fuel lawsuits …
Kenneth Shepard / Kotaku:
Niantic Spatial says Pokémon Go data is “not part of” its deal with spatial AI company Vantor, after concerns that game data could be used for military drones  —  The company says it no longer receives data from the monster-catching app after Niantic was acquired by Scopely
The Information:
Sources: six months after acquiring Rivos, Meta is struggling to integrate the chip startup and halted development of a chip for training its largest AI models  —  Meta Platforms bought semiconductor startup Rivos last year to accelerate development of in-house chips and reduce its reliance …

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From Mediagazer

Brian Stelter / CNN:
Filing: Paramount and state AGs agree to freeze the WBD merger until an antitrust trial occurs or until June 2027; a preliminary injunction hearing is canceled

Alyssa Ray / The Wrap:
At the rescheduled WHCA dinner, Trump praised the press corps' response to the April shooting before insulting journalists and celebrities who criticized him

Winston Cho / The Hollywood Reporter:
Kalshi asks Netflix to take down a trailer for Instadocs: The Prediction Games, saying it falsely suggests users placed bets in Nevada, where Kalshi is blocked

More News

@semianalysis_:
Analysis: assuming API pricing, the $200/month Claude Max and ChatGPT Pro plans offer up to ~$8,000/month and ~$14,000/month worth of tokens, respectively
Zaheer Kachwala / Reuters:
Adobe reports Q2 revenue up 13% YoY to $6.62B, vs. $6.46B est., and raises its annual forecasts; CFO Dan Durn is leaving for chipmaker Marvell; ADBE drops 5%+

Earlier Picks

John O'Farrell / New York Times:
Former a16z GP John O'Farrell criticizes the AI industry and his ex-partners for spending hundreds of millions to fight regulation, calling it “a huge mistake”
Ivan Mehta / TechCrunch:
Coinbase launches an AI agent that can execute trades and pay for premium research; users can give it access to their main account or have it operate separately
Bill Toulas / BleepingComputer:
Europol says it has dismantled the AudiA6 crypto mixing service, which allegedly laundered $380M+ for ransomware actors and others between 2022 and 2025
Sean O'Kane / TechCrunch:
Waymo launches Waymo Premier, a $30-per-month membership program offering perks like skipping the line, 10% cashback, and five free ride cancellations per month
Seth Fiegerman / Bloomberg:
OpenAI acquires Ona, which offers cloud services to support AI agents, and plans to bring Ona's team into its Codex effort; terms of the deal were not disclosed
Dan Primack / Axios:
Jeff Bezos' Prometheus, which is building AI models for physical tasks, raised a $12B Series B at a $41B valuation, following a $6.2B Series A
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