Morningstar says SpaceX is worth $780 billion. SpaceX is asking investors for $1.75 trillion — and the nearly trillion-dollar gap rests largely on orbital data centers that have never been built.
Gold now accounts for 27% of global reserves, surpassing US Treasuries for the first time in modern financial history. The central banks driving the shift have a clear motive: self-preservation.
Buried in SpaceX's amended IPO filing is a warning about water access for data center cooling — and a share structure that hands one person absolute control over the company's future.
Berkshire Hathaway is putting $10 billion into Alphabet's $80 billion stock sale — a stunning departure for a conglomerate that built its reputation on railroads and insurance, not compute infrastructure.
At $965 billion, Anthropic's valuation already exceeds OpenAI's. Its confidential S-1 filing sets up the largest AI public listing ever — and the first real test of whether safety commitments survive quarterly earnings calls.
Brent crude fell 11 percent in a week on Hormuz reopening hopes. But three months of blockade have depleted reserves, damaged LNG infrastructure, and forced rationing across Asia — and the recovery won't arrive with a ceasefire.
If a president can fire a Fed governor over interest rates, the credibility underpinning trillions in global assets evaporates. Powell didn't name names at his JFK award ceremony. He didn't have to.
Berkshire Hathaway is paying $8.5 billion for Taylor Morrison — Greg Abel's first big deal since taking the reins. The message is less about the homebuilder than about the housing shortage behind it.
Tesla shareholders would be buying into a rocket company that burns cash. SpaceX investors would get a public listing they didn't have to earn. And Musk would control it all.
China's manufacturing PMI landed exactly at 50.0 in May — the line between growth and shrinkage. Meanwhile, the services sector barely crawled back into positive territory. The second-largest economy is running on fumes.
SoftBank's €75 billion pledge for French data centers would be the largest AI infrastructure commitment in European history. The fine print says "up to."
Public companies would no longer need to report greenhouse gas emissions, climate risk, or weather-related financial impacts under the SEC's proposed full repeal. The rule never actually took effect.
Brent crude fell 19% in May on expectations of a US-Iran ceasefire that still needs Trump's signature. The shipping lanes traders are pricing in remain mined.
The savings rate has collapsed from 5.5% to 2.6%. Gas is up 50% since the Iran war began. The S&P 500 barely blinked. Two price shocks are colliding, and American households are paying for both.
Forecasters expected 1.5% growth. Canada delivered a 0.1% contraction — its second straight quarterly decline on an annualized basis. The tariff war just claimed its first G7 economy.
Japan just confirmed the largest currency intervention in its history: 11.7 trillion yen over one month. The yen is trading almost exactly where it was before Tokyo started buying.
Uber's €33-per-share bid would hand it the markets it already failed to crack on its own — South Korea, the Middle East, Southeast Asia. Investors are holding out for more.
Loan defaults above 7%, broken correlations between credit buckets, and model-based liquidity that collapses when tested. Jamie Dimon warned about cockroaches. The termites never stopped eating.
Thirty-three states want a judge to force Live Nation to sell Ticketmaster after a landmark monopoly verdict. Whether that actually makes concerts cheaper — or just creates two companies that extract rents independently — is an open question.
A federal jury needed three hours to decide Boeing didn't defraud LOT Polish Airlines over the 737 MAX. The families of the 346 people killed in two crashes are still getting their day in court — and winning.
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