Coatue Management is leading a $3 billion investment in Databricks, a data-analytics software provider, that values the company at $188 billion, according to people familiar with the matter. The new financing represents a 40% increase from its valuation in December, when Databricks raised money at a $134 billion valuation. It recently released a new software tool, called Unity AI Gateway, that allows companies to access AI models and track their spending on the technology.
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KeyBanc expects major stock unlocks beginning around Q2 earnings, potentially expanding tradable supply sharply.
Shares of SpaceX fell in after-hours trading Thursday after the company wasn’t able to launch its Starship rocket on a key test flight. SpaceX was proceeding toward the launch at 6:45 p.m. ET from its site near Brownsville, Texas, with its countdown clock ticking down. Then, the mission was aborted just as the Starship booster engines were supposed to start firing away, according to a company livestream.
Investors have closely followed SpaceX since its record IPO.

The company didn't immediately say what went wrong. SpaceX's stock plunged more than 4% in after-hours trading before paring losses.
The company didn't immediately say what went wrong. SpaceX's stock plunged more than 4% in after-hours trading before paring losses.
The Nasdaq tumbled on Sandisk, Micron, other AI stocks, but regional banks and transports rose. SpaceX has a big launch coming.
When Moritz was at Sequoia, he helped the firm invest in mega home runs like PayPal, Yahoo!, LinkedIn, and Google. Now, he says, “You can never have enough passports.”
SpaceX tests Starship for the 13th time on Thursday. The rocket-launch system is the “flywheel” that drives value for SpaceX, says RBC’s Ken Herbert.
Google stock fell amid a report the internet giant is behind schedule on delivering Gemini 3.5 Pro, its most powerful flagship AI model, as rivals gain momentum.
SpaceX shares closed below their $135 IPO price for the first time, marking a sharp decline from the record high posted soon after the stock started trading last month.
Flight 13 could advance Starship development and support future orbital missions, lunar contracts and Starlink expansion.

<body><p>STORY: SpaceX shares have been volatile, experiencing brief bouts of strength before slipping back. The stock has dropped below its initial public offering price for the first time, falling to around $132.59 a share.</p><p>Casey says SpaceX shares could fall further as investors reassess lofty expectations that were largely priced in at the IPO, but argues that the pullback doesn't alter the company's long-term outlook.</p><p>"It's not to say that we're negative on the story long term, and you have to expect this kind of volatility when you're investing in the large, large companies that are only just going public," Casey says.</p></body>
Taiwan Semiconductor Manufacturing posted its fifth straight quarter of record earnings earlier today, but that wasn’t enough to cheer investors. The Nasdaq slipped 1.5%, with Sandisk Western Digital and Marvell among the biggest losers. The PHLX Semiconductor index was off 4.3%.
Prediction markets expect SpaceX's next Starship test to end in a fireball, retail investors are fleeing, and the stock has shed nearly 30% in a month. That collision of fear and misread engineering might be exactly what serious buyers have been waiting for.

SpaceX (SPCX) is preparing for its 13th Starship test launch on Thursday. Yahoo Finance Senior Autos Reporter Pras Subramanian explains why this test will be significant.
SpaceX's orbital AI ambitions could become a major long-term growth driver, but investors should base today's investment case on its proven launch and Starlink businesses rather than a still-speculative 2028 vision.
Rising short interest, a Starship test, earnings, and lockup expirations put SpaceX shares in focus.
He is no longer a trillionaire.
FEC filings show Musk increased support for Republican candidates, including Vivek Ramaswamy's Ohio gubernatorial campaign.
Stock slides below IPO price before key catalysts
All Eyes on SpaceX as Starship Takes Flight in First Mission Since IPO
SpaceX Stock Tests Its IPO Price. A Big Share Unlock Is Coming
Growing discussion about a potential merger between Tesla and SpaceX, with increased public commentary from high profile investors. Speculation centers on whether Elon Musk could combine the two companies to create a unified capital base and shared balance sheet. Prediction markets and market commentary have recently put more attention on how a combined structure might affect Tesla's financing options and long term projects. Tesla (NasdaqGS:TSLA) enters this merger debate with a current...
Average investors can now buy SpaceX stock at just above the IPO price, which was likely not available to them one month ago.
SpaceX's post-IPO performance is trailing among this year's top 10 blockbuster debuts. Shares will close below the rocket maker's $135 IPO price for the first time if the current price around $131 holds.
SpaceX loses altitude.

<body><p>STORY: This week's dip in SpaceX shares below their IPO price could be an early warning sign for the stock.</p><p>A Reuters analysis of 50 high-profile U.S. IPOs since 2010 showed that companies whose shares fell below their IPO price in the first two months after their market debuts have gone on to underperform those that didn't, even though most still posted gains.</p><p>SpaceX shares, which priced at $135 each, dipped as low as $132.15 on Wednesday, and as of midday Thursday were still trading below the IPO price.</p><p>SpaceX shares have now tumbled 33% from the record close hit just days after the June 11 public sale, which raised a record $75 billion. </p><p>:: SpaceX</p><p>And that could be an ominous sign for Elon Musk's internet and rocket company as it faces more potential volatility in early August, when the number of shares available for trading on the Nasdaq stands to increase significantly.</p><p>While the SpaceX IPO was the largest in U.S. history, it made less than 5% of its shares available for trading.</p><p>But more shares will likely flood the market when so-called "lockup" restrictions on insiders lift in the coming months.</p><p>:: Archive</p><p>:: SpaceX</p><p>Meanwhile, short sellers who placed bearish bets on the stock are sitting on an estimated $8.7 billion in paper profit since last month's IPO, according to data and analytics firm Ortex Technologies.</p></body>