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OpenAI unveiled its first custom AI chip "Jalapeno" developed with Broadcom, claiming 50% lower inference costs, while SK Hynix announced plans for a historic $29.4 billion U.S. listing to capitalize on AI-driven memory demand that has shifted from cyclical to structural growth.
SpaceX shares briefly fell below their $150 IPO price after losing over $600 billion in market value during a three-day rout, even as the company secured massive demand for a $20 billion investment-grade bond sale, while a broader global selloff in AI stocks intensified amid doubts about the sustainability of the hardware-led boom.
SpaceX is issuing its first investment-grade bonds to raise approximately $20 billion despite holding over $100 billion in cash, signaling massive capital needs for its AI and space infrastructure ambitions. Meanwhile, Big Tech is turning to fossil fuel partnerships and strategic fintech investments to sustain the energy and innovation demands of the AI boom.
President Trump's announcement of an Intel-Apple chip manufacturing agreement sent Intel shares to record highs as Apple seeks to diversify from TSMC, while defense contractor Anduril secured a major U.S. Air Force production contract for autonomous fighter jets and SpaceX completed a volatile first week of public trading.
U.S. Commerce Secretary Howard Lutnick issued a rare export control warning to Anthropic over foreign access to advanced AI models, while SpaceX shares dropped for the first time since their blockbuster IPO amid G7 discussions on supply chain security and AI governance.
SpaceX's volatile public debut sees its valuation surge past Amazon to near $2.7 trillion as it finalizes a $60 billion stock acquisition of Cursor shortly after merging with xAI, while AI giants face mounting regulatory pressure from the Trump administration over national security concerns and global leaders grapple with tech sovereignty at the G7.
The U.S. Commerce Department ordered Anthropic to block foreign access to its advanced AI models Fable 5 and Mythos 5 over security concerns, prompting the company to shut down global access entirely. Meanwhile, AI giants NVIDIA and SpaceX are racing to raise capital through bond sales and IPOs, highlighting mounting infrastructure costs and geopolitical tensions in the AI sector.
SpaceX debuted on public markets with shares indicated to open at $155-$162, implying a $2 trillion valuation that ranks among the world's largest companies immediately. The IPO marks a strategic pivot from rocket reusability to AI infrastructure, with xAI's cloud deals potentially dominating revenue alongside Starlink's growth.
SpaceX's blockbuster IPO attracted over $70 billion in retail demand using an unconventional fixed-price model, as the company pivots from space launch provider to AI infrastructure play with plans for orbital data centers, despite current multibillion-dollar losses and ambitious Starship development timelines.
SpaceX's record $1.8 trillion IPO reveals the culmination of companies staying private longer while attracting massive institutional demand, even as the market grapples with unprecedented AI infrastructure financing and growing skepticism about large language model adoption.
Taiwan is considering criminal penalties for exporting advanced AI chips to China, aligning with U.S. restrictions, while OpenAI confidentially filed for a potential IPO later this year amid investor concerns over its capital-intensive business model and unusual governance structure.
Apple unveiled a major Siri overhaul at its developer conference, transforming the voice assistant into a cross-device AI copilot powered by Google's Gemini models, while chipmakers Nvidia and SK Hynix deepened their partnership on next-generation AI memory amid broader semiconductor supply chain diversification.