The SpaceX IPO

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)