SpaceX priced the biggest IPO ever at $135/share, raising $75B and debuting at $1.77T. ShinyHunters exploited an unpatched Oracle PeopleSoft flaw hitting 100+ organizations, Mistral seeks €3B at €20B, MrBeast hit 500M subscribers, and SBF lost his appeal.
SpaceX raises $75B in the biggest-ever IPO, pricing 555.6M shares at $135 each, giving it a market value of $1.77T (Bloomberg)
Founders Fund's ~3% SpaceX stake is worth $50B+, Sequoia's ~1.5% is worth $20B+, and a16z will see its biggest return ever at $10B+ (Bloomberg)
Some investors question SpaceX's valuation, citing its $4.3B loss on $4.7B in revenue in Q1, as well as concerns over space data centers (NYT)
Oracle warns customers of a critical PeopleSoft flaw after ShinyHunters claimed breaches of 100+ organizations using PeopleSoft; Oracle has not issued a patch (TechCrunch)
Sources: French startup Mistral AI is in talks to raise ~€3B at a ~€20B valuation; it was last valued at €11.7B during a funding round in September 2025 (Bloomberg)
MrBeast hits 500M subscribers on YouTube, a record for the platform (The Wrap)
Sam Bankman-Fried loses his bid to overturn his fraud conviction and 25-year prison sentence over the collapse of FTX (Reuters)
Longreads
As companies are hit by rising AI costs, they are increasingly using tools that tap cheaper models, including some from China, putting price pressure on OpenAI and Anthropic (WSJ)
Sixteen economists weigh in on what AI will mean for the US economy, workers, and workplaces; only two expect AI to actually create more jobs (WSJ)
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