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As SpaceX prepares for its record-breaking $75 billion market debut with great fanfare, Wall Street traders, brokers and exchanges are working nonstop to make sure their trading systems can handle the blockbuster IPO and avoid the chaos that marred other highly anticipated launches. Weighing heavily is Facebook's infamous debut in 2012, which was upended by technical glitches that turned into hours of uncertainty over whether trades had been properly executed, ultimately costing market-makers hundreds of millions of dollars. Financial firms have undergone weeks of preparation to ensure SpaceX's Friday trading debut is a success, particularly ahead of other blockbusters expected later this year from Anthropic and OpenAI.
(Bloomberg) -- When Applied Digital Corp. first tapped the junk-bond market in November to fund a data center project tied to CoreWeave Inc., it had to stomach a hefty yield to get the deal done. Fast forward to this week, and borrowing costs for another portion of the same project tumbled.Most Read from BloombergHouse Republican Says Hegseth’s D-Day Remarks ‘Inappropriate’Xbox Plans Significant Layoffs as New CEO Plans OverhaulUS Strikes Iran in Trump Escalation Over Stalled Peace TalksTech Sto
Canada's government on Wednesday proposed new legislation that would bar children under 16 years old
(Bloomberg) -- Meta Platforms Inc. has completed an operational split from Manus and halted data sharing between the two companies, taking a pivotal step toward unwinding a $2 billion acquisition opposed by Beijing.Most Read from BloombergHouse Republican Says Hegseth’s D-Day Remarks ‘Inappropriate’Xbox Plans Significant Layoffs as New CEO Plans OverhaulUS Strikes Iran in Trump Escalation Over Stalled Peace TalksTech Stocks Sink as Oil Jumps on US-Iran Jitters: Markets WrapH-1B Visa Rules Have C
<body><p>STORY: Oracle shares plunged in after-hours trade Wednesday, dropping close to 9%.</p><p>:: Oracle</p><p>The dive came after the tech firm said its spending on AI would blow past estimates.</p><p>It also said it would have to raise more debt next year, reflecting the staggering sums of money being put into AI infrastructure.</p><p>Oracle has big deals to build data centers for customers like Meta and OpenAI.</p><p>:: Oracle</p><p>On Wednesday it said its huge “Stargate” facility in Texas would be more than three-quarters complete within 90 days.</p><p>OpenAI said customers can now access its cutting-edge coding models on Oracle’s cloud.</p><p>But the rising costs are giving investors the jitters.</p><p>This year, Oracle says capital expenditures hit close to $56 billion, well above its target.</p><p>In fiscal 2027, it says that figure will balloon to as much as $95 billion, though some of that will be repaid by customers.</p><p>The company also said its profit margins would “step down” over the coming year as it ramps up data-center projects.</p><p>One analyst told Reuters that, while Oracle has real demand for its services, it was getting harder to see how it could fund all the investment required.</p></body>
SpaceX enters the final stretch Thursday before its expected trading on Wall Street as part of the biggest initial public offering in history, which could propel co-founder Elon Musk to trillionaire status.If all goes as expected, the space and rocket company co-founded by Musk in 2002 will begin trading on the Nasdaq exchange on Friday morning, with all eyes on how Wall Street will absorb the blockbuster IPO that could send tremors across global markets.
Microsoft and Meta Platforms are still growing their revenues at healthy rates.
The law would likely apply to American tech companies like Meta and Snapchat, but would have exemptions if safety requirements are met.
The S&P 500 Index ($SPX ) (SPY ) on Wednesday closed down -1.62%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -1.87%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -1.98%. June E-mini S&P futures (ESM26 ) fell -1.62%, and June E-mini Nasdaq futures...
Yahoo Finance Senior Reporters Ines Ferré and Brooke DiPalma come on Market Domination to eye some of Wednesday's top headlines, including movie lovers' first look at Jeremy Strong's — best known for HBO's corporate drama "Succession" — portrayal of Meta Platforms (META) CEO Mark Zuckerberg in "The Social Reckoning." The film is a direct sequel to Aaron Sorkin's "The Social Network."
Long live the new tech. Wall Street investors are adopting the latest acronym grouping Big Tech leaders: MANGOS. MANGOS consists of Meta Platforms (META), Anthropic (ANTH.PVT), Nvidia (NVDA), Alphabet (GOOG, GOOGL), OpenAI (OPAI.PVT), and SpaceX (SPCX, SPAX.PVT). Yahoo Finance Senior Reporters Ines Ferré and Brooke DiPalma come on Market Domination to talk about how MANGOS is the newest iteration of FAANG.
New data center agreement highlights India's growing role in the AI infrastructure race.
Meta Platforms (NasdaqGS:META) has agreed to lease India's largest AI-enabled data center from Reliance Industries in Gujarat. The facility is described as built to suit for Meta, with renewable power and advanced cooling technology. This is Meta's first dedicated data center of this type in India, in a sector the government classifies as strategic national infrastructure. For you as an investor, this move ties directly into how Meta earns from advertising, social platforms and its AI...
The excitement surrounding SpaceX’s IPO has reached a level rarely seen in modern markets. Investors have spent years waiting for a chance to own a piece of Elon Musk’s rocket giant, and demand has poured in from both Wall Street institutions and retail investors. According to Bloomberg, multiple institutional investors have submitted orders exceeding $10 ... SpaceX’s IPO is 4X Oversubscribed. There’s a Surprising Reason That Number Should Scare IPO Buyers
Shares of Qualcomm (NASDAQ:QCOM) are down 6% to $193 and change in midday trading Wednesday, while Arm Holdings (NASDAQ:ARM) stock is off 5% to $309.75. The moves come as mobile and edge-compute chip names lag the broader semiconductor tape. The iShares Semiconductor ETF (NASDAQ:SOXX) is down by 2.3% on the session, signaling that the weakness ... Qualcomm Drops 6%, Arm Holdings Falls 5% as Mobile-Chip Stocks Slide in the Selloff
(Updates with Meta's response in the fifth paragraph.) Alphabet (GOOG, GOOGL) unit Google's YouTu
The Invesco QQQ Trust (NASDAQ:QQQ) and the Vanguard Information Technology ETF (NYSEARCA:VGT) are often shoved into the same “own Big Tech” bucket, but they answer different questions. QQQ tracks the Nasdaq-100, a listing-based index that is growth-heavy. VGT tracks the MSCI US Investable Market Information Technology 25/50 Index, a pure GICS sector fund. That distinction ... QQQ vs. VGT: The Best Way to Own Big Tech?
(Updates with Google's response in the fourth paragraph.) Alphabet (GOOG, GOOGL) unit Google's Yo
Newly-listed power company ERock could appeal to investors looking for another way to play the AI boom. Erock started trading on the New York Stock Exchange around midday on Wednesday, slipping 5% in early action. ERock makes natural gas-powered engines and generators that can be placed on-site at data centers or other large businesses to provide electricity.
A jury had found the two companies liable for designing platforms that harmed a young user and awarded $6 million in damages
Is META a good stock to buy? We came across a bullish thesis on Meta Platforms, Inc. on Fundamentally Sound’s Substack. In this article, we will summarize the bulls’ thesis on META. Meta Platforms, Inc.’s share was trading at $584.59 as of June 9th. META’s trailing and forward P/E were 21.29 and 18.62 respectively according to Yahoo […]
Wall Street has never met an acronym it didn’t like. FAANG gave way to the Magnificent 7, and now a fresh label is making the rounds among investors trying to capture the next leg of the artificial intelligence (AI) trade. The new grouping, half marketing slogan and half investment thesis, goes by the name MANGOS: ... Investors Are Ditching the Magnificent 7 For a New Group of Stocks: The MANGOS
Investors should remember the Facebook IPO when considering buying SpaceX at launch.
June 10 (Reuters) - A California state court judge has denied motions by Meta Platforms and Google's YouTube seeking a new trial after a jury found the companies liable for designing social media platforms that are harmful to young people. Los Angeles Superior Court Judge Carolyn Kuhl ruled on the motions on Tuesday, according to court documents.