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Wall Street banks see AI 'super cycle' set to boost deals, financing
Reuters52d agoneutral
Wall Street banks see AI 'super cycle' set to boost deals, financing

A rush by technology companies to fund AI infrastructure is boosting dealmaking and financing activity for Wall Street, bankers said on Tuesday, generating lucrative fees from capital ‌raising and loans. Investment banks have reaped strong fees from AI-related deals, including SK Hynix's $26.5 billion ADR offering and SpaceX's ‌record $86 billion initial public offering, as well as debt issuance. "The build-out of AI infrastructure remains in its early stages, and we believe this multi-year investment cycle will continue to drive elevated levels of strategic activity, financing, and capital formation across markets," Goldman Sachs CEO David Solomon said during an earnings call.

Exclusive-Data center firm Switch taps banks for IPO that could value it up to $80 billion, sources say
Reuters53d agoneutral
Exclusive-Data center firm Switch taps banks for IPO that could value it up to $80 billion, sources say

Data center operator Switch has hired investment banks for an initial public offering that could raise up to $10 billion as soon as the fourth ‌quarter, according to two people familiar with the matter, and value the company at close to $80 billion, ‌including debt. Goldman Sachs and JPMorgan Chase have been tapped as lead underwriters for the offering, the people said. The IPO would rank among the largest U.S. stock market debuts in recent years, underscoring investors' appetite for companies benefiting from surging demand for artificial intelligence infrastructure.

Frontier joins airlines betting on Starlink to lure travelers
Reuters53d agoneutral
Frontier joins airlines betting on Starlink to lure travelers

Frontier Airlines said on Tuesday it will launch in-flight Wi-Fi using SpaceX's ‌Starlink satellite internet and start installing it across ‌its fleet in early 2027. The Denver-based airline is the first ultra-low-cost U.S. ​carrier to sign on with Elon Musk's Starlink as the company competes with Amazon's Kuiper for airline customers to provide in-flight Wi-Fi. Frontier's Starlink rollout follows the airline's introduction of first-class seating and loyalty program changes ⁠aimed at winning over higher spenders.

Investment Bankers Are Raking It In
The Wall Street Journal53d agoneutral
Investment Bankers Are Raking It In

The story of the day looks like huge investment banking results across the biggest banks. JPMorgan Chase’s fees from investment banking, which includes advising companies and raising and selling debt and equity, rose 30%.

Bloomberg53d agoneutral
Goldman Blows Past Stock-Trading Records With $7.42 Billion Boon

(Bloomberg) -- Goldman Sachs Group Inc. trounced its own Wall Street stock-trading records, posting $7.42 billion for a quarter that saw indexes rip higher and ongoing market volatility around artificial intelligence and war in the Middle East.Most Read from BloombergUS Hits Iran With Strikes, Blockade as Trump Plans Hormuz ChargeLindsey Graham, Senate Hawk Turned Trump Ally, Dies at 71Trump Embraces Australian Retirement System Backed by Larry FinkOpenAI Engineer’s ‘LOL’ Moment Set Stage for Le

Bloomberg53d agoneutral
JPMorgan Notches Record Profit on $6 Billion Stock-Trading Haul

(Bloomberg) -- JPMorgan Chase & Co. reported its highest quarterly profit ever as stock traders blew past analysts’ estimates and a long-held Visa Inc. stake paid off to the tune of $4.6 billion.Most Read from BloombergUS Hits Iran With Strikes, Blockade as Trump Plans Hormuz ChargeLindsey Graham, Senate Hawk Turned Trump Ally, Dies at 71Trump Embraces Australian Retirement System Backed by Larry FinkOpenAI Engineer’s ‘LOL’ Moment Set Stage for Legal Fight With AppleDisney Exiting Streaming Coul

Citi sends powerful sign to SpaceX investors
TheStreet53d agoneutral
Citi sends powerful sign to SpaceX investors

SpaceX stock is trading at $145.30, about 8% above its $135 IPO price, according to Yahoo Finance at the time of writing. Interestingly, SpaceX stock climbed as high as $225.64 after its $135 IPO, according to Yahoo Finance reporting, indicating a peak post-IPO gain of about 67%, before sharply ...

Elon Musk's startling claim to SpaceX investors
TheStreet54d agoneutral
Elon Musk's startling claim to SpaceX investors

Someone on X (the former Twitter) was criticizing the deal Anthropic struck with SpaceX to use its Colossus data centers. The argument was that handing $45 billion to SpaceX through May 2029 could be a massive unforced error, potentially letting xAI drain Anthropic's token traffic and leaving ...

SpaceX Stock Flirts With New Lows
The Wall Street Journal54d agoneutral
SpaceX Stock Flirts With New Lows

Shares of SpaceX are headed for a new post-IPO low, as they get closer to their offering price of $135. Shares traded as low as $137.68 before recovering a bit to trade above $139, down about 4% on the day.

SpaceX Plans Starship Test Flight After Delay
The Wall Street Journal54d agoneutral
SpaceX Plans Starship Test Flight After Delay

SpaceX plans to launch the newest version of its Starship rocket later this week, after a mishap postponed an earlier planned mission and prompted the Federal Aviation Administration to require an investigation into the issue.

Bloomberg54d agoneutral
Wall Street Banks Set to Pull in Almost $39 Billion From Trading

(Bloomberg) -- Wall Street’s trading bonanza is poised to keep rolling. Most Read from BloombergLindsey Graham, Senate Hawk Turned Trump Ally, Dies at 71Hormuz Route Open Despite Iran Declaration, Maritime Group SaysTrump Embraces Australian Retirement System Backed by Larry FinkOpenAI Engineer’s ‘LOL’ Moment Set Stage for Legal Fight With AppleUS Renews Iran Strikes as Both Sides Dispute Hormuz StatusThe biggest US banks — set to kick off a marathon Tuesday with five of those firms reporting se