The rocket and AI company plans to sell 555 million shares at a fixed price, bypassing the traditional price-range method used in most U.S. offerings
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History says SpaceX will be a very risky stock when it starts trading later this month.
Broadcom shares sank about 12% in premarket trading on Thursday, a day after the company missed quarterly revenue views and disappointed investors' lofty expectations of stronger momentum from the AI boom. The chipmaker could lose more than $285 billion in market cap at the current price of $418.83, if losses hold. Broadcom vies with Nvidia, whose graphics processors remain the gold standard for AI workloads, underscoring intensifying competition at the top of the AI chip market.
The shifting timeline is a setback for Meta’s ability to monetize its massive investments in building frontier AI models.
SYDNEY, June 4 (Reuters) - Meta accused Australia of violating a free trade agreement with the U.S. by proposing a new tax on certain tech giants which do not strike licensing deals with local media,

<body><p>STORY: Wall Street's main indexes tumbled on Wednesday, with the Dow losing about 1.2%, the S&P 500 shedding about three-quarters of a percent and the Nasdaq falling roughly nine-tenths of a percent.</p><p>Flaring tensions in the Middle East and rising crude prices stoked inflation jitters and convinced investors to take some profits.</p><p>Energy stocks, buoyed by oil prices, enjoyed the largest percentage gains, with Exxon Mobil and Chevron both closing higher. </p><p>Meanwhile, six of the Magnificent Seven group of megacap tech stocks ended lower, with Meta the only exception.</p><p>Liz Miller is founder and president of Summit Place Financial Advisors.</p><p>"I more and more just keep seeing this market as a ping pong. One day we've got the momentum leading tech stocks up and then that drives all the indices up. And the next day we've got sort of the second tier undervalued companies up and the index is down. [FLASH] Today's again, one of those days where we're seeing energy with the most strength. We're seeing some of the consumer come through, some of the industrial, but techs are marginally down. And that's what I mean when I think about this market as a ping pong market, because these are high quality companies, they're large cap, they would be top tier fundamentally, but they haven't really participated as much in the index strength."</p><p>Among individual movers, shares of GameStop jumped 6% after the original meme stock posted a rise in quarterly revenue and unveiled a $2 billion share buyback program.</p><p>Shares of Crowdstrike, down nearly 3% at the close, dropped about another 10% in extended trading after the cyber security company reported a 15% jump in its first-quarter operating expenses as it ramps up investments in AI and product development.</p><p>And shares of Broadcom fell more than 6% in extended trading despite the company forecasting third-quarter revenue above Wall Street expectations, betting on robust demand for its custom AI chips and networking gear.</p></body>
By David Shepardson WASHINGTON, June 3 (Reuters) - The Federal Communications Commission said on Wednesday it plans to toughen oversight of submarine communications cables that handle 99% of
Broadcom forecast third-quarter revenue above Wall Street expectations on Wednesday, betting on robust demand for its custom AI chips and networking gear. However, shares of the Palo Alto, California-based company fell more than 2% in extended trading. They had gained nearly 8% last week in the run up to earnings.

Broadcom shares sank in pre-market following the chipmaker's quarterly results.

Broadcom shares sank in pre-market following the chipmaker's quarterly results.

Broadcom shares edged higher ahead of the company's earnings on Wednesday.
The new agent is part of the company’s effort to broaden beyond its core consumer business as it spends aggressively on artificial intelligence.
By Katie Paul LONDON, June 3 (Reuters) - Meta Platforms on Wednesday unveiled an artificial intelligence agent aimed at helping businesses carry out day-to-day operations, positioning the social media
Meta Platforms on Wednesday unveiled an artificial intelligence agent aimed at helping businesses carry out day-to-day operations, positioning the social media giant as a player in the enterprise AI market. Announced at the company's WhatsApp-focused Conversations conference in London, the new product expands on existing business messaging services by enabling "agentic" capabilities in which the assistant can take actions like booking calendar appointments and closing sales on behalf of businesses. The company said more than 1 million businesses were already using earlier chatbot versions of such agents on WhatsApp and Messenger.
By Karen Brettell June 3 (Reuters) - The artificial-intelligence boom already has fueled a record stock-market surge. Now it's driving up long-term Treasury yields too.
Private infrastructure and real estate capital are expected to play a larger role in financing the AI-driven data-center boom, as companies move beyond traditional forms of funding, Goldman Sachs said in a note on Tuesday. Goldman increased its combined capex forecast for the four largest hyperscalers - Meta, Microsoft, Amazon, and Alphabet - to $5.3 trillion between fiscal years 2025 and 2030. Prior to the start of first-quarter earnings, the Wall Street brokerage forecast capex at $4.5 trillion for the same period.
Europe's second-highest court on Wednesday backed Meta Platforms' fight against the labelling of its Marketplace platform as a gatekeeper under EU rules but rejected its challenge against the same designation for its messaging app Messenger. "The decision does not satisfy the requirements in terms of reasoning as regards Marketplace, in that it allows neither Meta to understand the reasons for its classification as a core platform service that is an online intermediation service nor the Courts of the European Union to exercise their power of review," the General Court said. Meta took its grievance to the Luxembourg-based tribunal after the European Commission said both services were important gateways for businesses to reach users under the Digital Markets Act because they met the quantitative criteria.
Analysts expect Broadcom’s revenue to grow at the highest pace in nine years, powered by custom chip deals with Meta and Google.
Three years after brokering one of the most consequential emergency acquisitions in banking history, UBS is still working through what that deal cost in human terms. The latest bill arrived on May 29. Hundreds of employees across Europe, the Middle East, and Africa found out their jobs were gone. ...
Broadcom stock has already had a meteoric run ahead of Q2 earnings on June 3, but options traders believe AVGO shares will push higher after the quarterly print.
Meta is dialing back elements of its plan to collect employee mouse movements, keystrokes and other actions for use as AI training data, it said in an internal memo on Tuesday, following weeks of angry pushback from staffers. New controls will allow employees to pause the data collection for up to 30 minutes at a time and request exemptions from the initiative, according to the memo, authored by Stephane Kasriel, a vice president in Meta's AI model-building Superintelligence Labs unit. A Meta spokesperson declined to comment.
Broadcom Faces High-Stakes Earnings Test. Oppenheimer Says AI Could Deliver Another Beat
The artificial intelligence boom has survived just about everything investors have thrown at it. Concerns over China, export restrictions, sky-high valuations, and even recession fears have failed to derail a rally that has added trillions of dollars in market value to companies like Nvidia (NASDAQ:NVDA), Microsoft (NASDAQ:MSFT), Broadcom (NASDAQ:AVGO), and Meta Platforms (NASDAQ:META). Yet there ... Only One Man Can Kill the AI Boom: Fed Chair Kevin Warsh
The biggest story surrounding the IPO landscape is, of course, none other than SpaceX. But CoreWeave's debut last year shouldn't be forgotten either.
Morning Brief host Julie Hyman is joined by Yahoo Finance Tech Editor Dan Howley and Investopedia Editor-in-Chief Caleb Silver to discuss the key question investors should be asking about upcoming IPOs from companies like SpaceX (SPAX.PVT), Anthropic (ANTH.PVT), and OpenAI (OPAI.PVT), and whether retail investors are ready to buy into the hype.
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