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SpaceX says it plans to raise up to $75 billion when it goes public this month, setting the stage for the largest-ever stock market debut and putting Elon Musk on course to becoming the world's first trillionaire. The company, formally known as Space Exploration Technologies Corp., said Wednesday it will sell 555.6 million shares at $135 a piece. The offering would give SpaceX a market value of $1.77 trillion.
The cybersecurity company said it now expects annual recurring revenue of $6.53 billion to $6.56 billion for all of fiscal 2027, up from its previous target of $6.47 billion to $6.52 billion.
A report by The Real Deal says the state’s attorney general was contacting top NYC brokerage firms asking for information about Compass.
Shares of C3.ai surged late Wednesday after the artificial intelligence software company surpassed Wall Street’s expectations with its fiscal fourth-quarter earnings and issued solid guidance. C3.ai sells artificial intelligence software platforms to large enterprises and government agencies, bringing in the vast bulk of its sales via subscription revenue. Investors have been skeptical that C3.ai can boost revenue in the competitive market of AI enterprise software while cutting costs, as it must to turn a profit.
SpaceX disclosed Wednesday that it plans to raise $75 billion in its initial public offering, which is expected to occur within a few weeks.
Shares of Broadcom (AVGO) are sliding in Wednesday's extended hours in spite of the AI chipmaker beating fiscal second quarter earnings estimates and releasing third quarter guidance that outpaced Wall Street forecasts. CFRA Research senior vice president Angelo Zino reacts to Broadcom's latest earnings print and how much longer he expects the "downstream winners" of the AI infrastructure buildout to continue to gain from this phenomenon.
Moby summary of Destination XL Group, Inc.'s Q1 2026 earnings call
Investing.com -- Veeva Systems Inc Class A (NYSE:VEEV) reported first-quarter results that exceeded analyst expectations, with adjusted earnings per share of $2.24 beating the consensus estimate of $2.14 by $0.10. Revenue reached $882.9 million, surpassing the $857.75 million estimate and marking a 16% increase from $759.0 million in the same quarter last year.
CrowdStrike Holdings stock was falling late Wednesday despite better-than-expected first-quarter results from the cybersecurity company. CrowdStrike reported adjusted earnings of $1.10 a share on revenue of $1.39 billion. “In Q1, the worlds of cybersecurity and frontier AI collided: this was the Mythos moment,” CEO George Kurtz said in the earnings release.
CrowdStrike reported a 15% jump in its first-quarter operating expenses on Wednesday, as the cybersecurity company ramps up investments in AI and product development. Shares of the company fell 8% in extended trading. Here are some details: • CrowdStrike expects 2027 revenue to be between $5.91 billion and $5.96 billion, compared with its prior expectations of $5.87 billion to $5.93 billion.
The digital token fell for a fourth straight day after a sale by one of bitcoin’s biggest cheerleaders.
The semiconductor and software maker says semiconductor revenue from AI more than doubled to $10.8 billion in the quarter, boosted by increasing demand for custom AI accelerators and AI networking, Chief Executive Hock Tan said.
SpaceX is gearing up for what could be the largest IPO in history later this month.
Elon Musk’s SpaceX, which is likely to get a $1.8 trillion price tag when it debuts on the Nasdaq next week, carries a host of superlatives. Part of the problem is SpaceX itself. The company combines Musk’s space, satellite, social media, and artificial intelligence divisions, and is expected to float 555 million shares next week with a share price of around $135.
Broadcom (AVGO) topped fiscal second quarter estimates for adjusted earnings ($2.44 per share vs. estimates of $2.39) and revenue ($22.19 billion vs. estimates of $22.13 billion). But that may not have been enough to impress Wall Street investors as the chip stock falls in Wednesday's extended hours trading. Market Domination Overtime's Josh Lipton takes a closer look at the fresh earnings print.
The startup develops foundation models designed to help companies make more accurate business predictions, according to sources familiar with the deal.
Oil prices rose following the latest threats to the U.S.-Iran ceasefire, and U.S. stocks retreated from their records. The S&P 500 fell 0.7% Wednesday from its all-time high and snapped a nine-day winning streak. The Dow Jones Industrial Average dropped 1.2%, and the Nasdaq composite sank 0.9%.
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.
According to Reuters, SpaceX (SPAX.PVT) is gunning for an IPO date of Friday, June 12, with hopes to begin trading on the Nasdaq at $135 per share. This could launch the value of Elon Musk's private space operator to $2 trillion. Yahoo Finance Senior Reporter Pras Subramanian lays out the most valuable segments of the space company that Wall Street is watching.
Danske Bank lifts Denmark outlook again as Novo Nordisk demand supports export growth.
Oracle shares fell more than 4% ahead of fiscal fourth-quarter earnings.
Anthropic has confidentially filed its S-1 with the Securities and Exchange Commission.
The Coca-Cola Company plans to spin off its Indian bottling unit to unlock massive latent equity value and drive long-term structural margin expansion.
A mom is suing Campbell and Walmart, alleging SpaghettiOs contained worms or parasites that caused illness in her and her child, court filings state.
(Bloomberg) -- Investors betting that more old-world auto companies are in line to benefit from the boom in artificial intelligence got another stamp of approval from Wall Street.Most Read from BloombergTrump Begins Rebuilding His Tariff Wall, Citing Forced LaborRussia Finance Officials Tell Putin War Spending Is UnaffordableTrump to Get Audit Immunity as $1.8 Billion Fund in DoubtTikTok Billionaire Overtakes Mukesh Ambani as Asia’s Second-Richest PersonRBI May Have Sold Gold to Save FX Reserves
60% or more That share of data-center capacity planned for completion in 2027 isn’t yet under construction, and another 7% is delayed, a recent JPMorgan analysis found. Read more on the seeming paradox ...
Oppenheimer just downgraded AT&T stock to “Perform,” citing incoming SpaceX competition. Find out more.
A wild week of firings and fireworks lays bare the challenges Bari Weiss faces in revamping CBS News and its flagship show.