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Chanos Bearish on SpaceX Valuation Fueled by ‘Hopes and Dreams’

Jim Chanos, founder and president of Chanos & Company LP, during a Bloomberg Television interview in New York, US, on Wednesday, June 11, 2025. Chanos discussed the state of markets and his concerns about the lack of oversight in the crypto market. Victor J. Blue/Bloomberg

Bloomberg Technology 3h ago

How Indian immigrants have fueled billion-dollar startups in America over the years

American startups founded by immigrants are creating an average of 833 jobs per company and are collectively worth nearly $5 trillion, according to a new report by the National Foundation for American Policy (NFAP). Indian immigrants, the report says, have emerged as the largest contributor to this success story, founding or co-founding more billion-dollar startups in the United States than immigrants from any other country. “The research indicates that more open immigration policies will...

Times of India 6d ago

The SpaceX IPO Will Be the Theft of the Century

The SpaceX IPO Will Be the Theft of the Century An S-1 full of fantasies, insiders who will pocket millions, index companies that have changed the rules: it's all a recipe for regular people to have their pockets picked. As the SpaceX IPO approaches, a few observations and predictions: I. As a Business, SpaceX Will Be a Spectacular Failure In a real sense, the entire SpaceX value proposition rests upon the Starship project. And when I say “Starship,” I mean a Starship version that is far...

Hacker News 6d ago

Indonesia’s rupiah falls to record low against US dollar

Indonesia’s rupiah falls to record low against US dollar Currency plunge comes as energy shock from the Iran war casts a cloud over Southeast Asian economies. Indonesia’s rupiah has hit its weakest level ever against the US dollar, breaching the psychological 18,000 threshold amid surging energy costs. The currency hit 18,028 against the greenback on Thursday, despite recent central bank efforts to provide support.

Al Jazeera 6d ago

Jim Cramer says tech stocks are losing the qualities that made them the leaders of the rally

CNBC's Jim Cramer said Tuesday that technology stocks are losing many of the qualities that made them the market's dominant leadership group over the past three years. "A real bull market has leaders, and those leaders have terrific characteristics," the "Mad Money" host said. "They make a lot of money, there's a limited number of them, and there aren't too many shares around because these companies constantly buy them back."

CNBC 1d ago

xAI is looking more like a datacentre REIT than a frontier lab

xAI is looking more like a datacentre REIT than a frontier lab An unexpected development over the past few weeks is xAI's new partnerships with Anthropic and Google, providing them with a huge amount of capacity. It's worth remembering that xAI is now part of SpaceX, after the two merged back in February - so the revenue from these deals flows straight into the entity about to go public. While much has been made of the potential financial engineering given SpaceX's upcoming IPO, I think...

Hacker News 2d ago

OpenAI files for IPO as AI investment race intensifies

OpenAI announced Monday afternoon that it has filed to offer its stock on public markets, just a week after its chief rival, Anthropic, did the same. “We recently submitted a confidential S-1,” the ChatGPT maker said in a post on X, referring to the formal name of the filing for an initial public offering. “We have not decided on timing yet; it may be a while because there are things we want to do that are likely easier as a private company.”

NBC News 2d ago

AI 'arms race' set to create new group of staggeringly wealthy tycoons

AI 'arms race' set to create new group of staggeringly wealthy tycoons Tens of billions is being pumped into investment in AI by some of the world's biggest tech firms, with Google's owner the latest to ramp-up spending The mind boggling sums of money linked to the future of artificial intelligence have reached a new level. Anthropic, the company behind AI chatbot Claude, has fired the starting gun on a stock market listing in New York that could see it valued at more than $1trillion...

Daily Mirror 8d ago

Tech giant OpenAI files for US initial public offering

Tech giant OpenAI files for US initial public offering OpenAI did not disclose the size or terms of the offering, and said a timeline has not yet been determined. ChatGPT-maker OpenAI has confidentially filed for a United States initial public offering (IPO), joining rival Anthropic in a push towards the stock market as investors seek exposure to the artificial intelligence boom. OpenAI did not disclose the size or terms of the offering.

Al Jazeera 2d ago

SoftBank sinks 10% as Asia tech stocks tumble, tracking Wall Street losses

Asian semiconductor and technology stocks resumed their slide Wednesday, tracking overnight losses on Wall Street after a brief rebound in chipmakers lost steam amid lingering concerns over stretched artificial intelligence-related valuations. Japan's Softbank Group plunged 10% amid a broader decline in tech names and after efforts to secure at least $6 billion through a margin loan backed by its OpenAI stake hit a snag, according to Bloomberg News. The Japanese tech investment giant is...

CNBC 20h ago