News linked to this event type.
According to an independent analyst report by Markus Thielen on June 9, just days remain before SpaceX’s IPO, and market expectations continue to intensify. There is currently little indication that SpaceX will raise its expected offering price of $135, suggesting the targeted fundraising amount of $7.5 billion has already been substantially subscribed. Meanwhile, pre-IPO synthetic perpetual contracts tied to SpaceX are trading at $157 on Hyperliquid and $169 on Binance—both significantly above the expected offering price—with implied valuations on both platforms approaching $2 trillion. Although prices have retreated from earlier highs near $200, prediction markets still assign a 68% probability that SpaceX’s valuation will exceed $2 trillion by year-end, reflecting traders’ broad expectation of a strong IPO performance.
BIT Group posted on X platform, stating that with only days remaining until the SpaceX IPO, market expectations are heating up, with a general consensus that the stock is likely to perform well post-listing. Unlike many recent IPOs, there are currently few signs that SpaceX will raise its offering price, indicating that the target fundraising amount of $75 billion has already received fairly sufficient subscription coverage.Meanwhile, SpaceX-related pre-IPO synthetic perpetual contracts are trading at around $157 on Hyperliquid (calculated based on the old 11.9 billion share count) and quoting $169 on Binance, both significantly higher than the expected IPO price of $135. Although prices have fallen from around $200 a few days ago and undergone a repricing, the current implied valuations on both platforms still approach nearly $2 trillion, indicating that traders still anticipate a strong market debut for SpaceX. Prediction markets are also leaning towards optimism, with the current probability of SpaceX's valuation exceeding $2 trillion by the end of the year standing at 68%.
Odaily Odaily notes that Stephen Davies, founder and CEO of Javelin Wealth Management, stated that the current market’s investment enthusiasm for SpaceX, Anthropic, and OpenAI has significantly outpaced their fundamentals. The valuations of these companies have already priced in a substantial amount of future growth expectations. While artificial intelligence has real-world applications and long-term value, the market still needs clearer verification of profitability. Without stable proof of earnings, the valuation expansion of AI-related assets carries the risk of excessive optimism.Regarding SpaceX, Stephen Davies believes the company still needs to establish a stronger track record of commercialization and market performance before it can become a core allocation in his portfolio. Overall, the current valuation levels of some high-growth tech assets have entered a "somewhat extreme" range, and investors should pay more attention to actual earnings support. (CNBC)
Fortune magazine analyzed that although Bitcoin’s recent decline has weakened MicroStrategy’s (MSTR) stock price, the company’s current market capitalization still trades at a ~31% premium to its underlying net asset value. The analysis suggests this premium stems from the market’s prior endorsement of Michael Saylor’s “Bitcoin appreciation flywheel” model; however, as this model falters, the associated premium faces further compression risk.
Odaily News, CryptoQuant analyst Axel Adler Jr. stated that Bitcoin's price has retraced approximately 20% over the past month, with two key on-chain indicators showing sustained market sentiment pressure. Among them, Bitcoin's MVRV Z-score has dropped from 0.95 a month ago to 0.32, far below the historical average of 1.71, indicating that the previous valuation premium has largely been digested and the market has entered a range more conducive to long-term accumulation.Meanwhile, Bitcoin's 7-day simple moving average of Net Realized Profit/Loss has been in negative territory for 22 consecutive days, meaning the market has been completing transactions at a loss since May 18. The indicator hit a low of approximately -$1.2 billion on June 6 and has since slightly recovered to around -$1.1 billion. Although market pressure is evident, it remains below the extreme levels of approximately -$2.2 billion seen during the 2022 bear market capitulation phase.Axel Adler Jr. pointed out that currently, a large number of holders are selling Bitcoin below their cost basis, reflecting significant market fear and capitulation sentiment. However, the MVRV Z-score remains above 0, suggesting that the market has not yet entered a deeply undervalued zone, nor has it presented a historically significant value trough.He believes that combining these two indicators, while market sentiment is relatively weak, valuations have clearly cooled down. Going forward, key focus points will be whether the Net Realized Profit/Loss can return above the zero line and whether the MVRV Z-score can maintain a positive value. If the MVRV Z-score falls below 0, or realized losses move closer to the extreme levels of 2022 once again, it could signal the onset of a deeper phase of market capitulation.
U.S. President Donald Trump is pushing for a new policy direction: allowing the federal government to hold shares in artificial intelligence companies, thereby directly participating in the revenue growth brought by this industry. Trump stated that he will hold meetings with tech companies "very soon," possibly as early as this week, to explore cooperation methods between the government and AI enterprises.This approach aligns with his "deal-oriented" style and is not driven by traditional populist motives. On June 6, 2026, Trump said he "should be a stockbroker" and referenced the government's recent equity investment in Intel.Currently, the U.S. government already holds stakes in some companies in areas such as chip manufacturing, mining, and quantum computing. Such equity holdings are typically granted as a condition for providing federal funding, which originally did not require equity stakes.As the AI industry rapidly develops, some companies are estimated to reach valuations potentially in the trillions of dollars. Axios noted that enterprises such as OpenAI and Anthropic may reach this scale in the future.
“White-Haired Stock God” Serenity posted on platform X, stating that Jabil (JBL), currently with a market cap of approximately $38 billion, represents an attractive long-term investment opportunity. The market may not have fully priced in the potential value of its 1.6T LRO pluggable optical module business.By the first half of 2027, the industry bottleneck may no longer be insufficient demand, but rather the production capacity limitations of key upstream supplier SIVE. In this context, leveraging its mature global supply chain system and the advantage of taking over Intel's (INTC) pluggable optical module production line, Jabil is well-positioned to benefit from the demand growth driven by AI infrastructure construction. Compared to Applied Optoelectronics (AAOI), which relies on continuous capital expenditure to expand laser factories, if SIVE and multiple foundries including Win Semi achieve mass production of lasers, Jabil's backend manufacturing and integration model will prove more scalable.Serenity stated that Jabil currently possesses a supply chain system validated by hyperscale cloud service providers, exhibiting a growth trajectory similar to that of Innolight, while also enjoying a valuation premium in the US market. He expects that as the market gradually recognizes the relevant opportunities by the first half of 2027, Jabil has approximately 40% room for valuation revaluation. However, he emphasized that he currently holds no positions and is merely sharing research ideas for investors' reference.
According to Bloomberg, Apollo Global Management and Blackstone Group have finalized a total $35 billion financing arrangement for Anthropic to support its expansion of AI infrastructure.
sources familiar with the matter have revealed that Goldman Sachs and JPMorgan are exploring trading methods based on the cost of computing power, including futures contracts linked to GPU rental prices. As one of the scarcest resources amid the AI boom, related futures for GPUs are expected to be listed on exchanges later this year.Industry insiders stated that this move reflects how the influx of hundreds of billions of dollars into data centers and the chip sector is reshaping the financial market landscape. For banks financing the construction of AI infrastructure, such innovative instruments could become a new means of risk management. (The Information)
Jiang Zhuoer posted on platform X, stating that after selling 32 BTC, Strategy raised $181 million through the sale of common stock to purchase 1,550 BTC (approximately $100 million), with the remaining funds held as cash reserves. This move sustained MicroStrategy's "unshakable faith," as the amount of BTC bought far exceeded the amount sold, aligning with the principle of maximizing benefits. Jiang Zhuoer also stated that the current price is in an upward channel, and he will wait for further price increases before considering selling.Jiang Zhuoer added that as a "BTC maximalist" focused on coin-based holdings, his norm is to hold a full spot position, and therefore he has not opened short positions. The purpose of his swing trading operations is to increase the total number of coins held.
According to sources cited by The Wall Street Journal, Chinese AI large-model company StepFun is expected to file its IPO application with the Hong Kong Stock Exchange as early as June 8, with a valuation of approximately $12 billion assigned by its major investors. The IPO aims to raise roughly $500 million, and the company has already begun consultations with multiple financial advisors regarding the listing. Previously, StepFun had initiated the dismantling of its offshore VIE structure to pave the way for its Hong Kong listing.
EDGE Markets, a financial infrastructure for cryptocurrency and prediction markets, has announced the completion of a $29.2 million Series A funding round, led by CoinFund, with participation from Indicator Ventures, Mantis VC, StepStone Group, and Bullpen Capital. The new funds will be used to launch EDGE Pro, a high-throughput capital account product for market makers, which can connect to U.S. CFTC-regulated exchanges for real-time fund transfers. Leveraging a unified clearing and margin management system, it aims to enhance institutional capital efficiency. The company is also currently advancing its applications for NFA Introducing Broker and Futures Commission Merchant licenses. (Prnewswire)
: According to sources, London-based digital bank and financial super app Revolut is quietly seeking a round of secondary equity transactions, targeting a valuation of $115 billion. If successful, this valuation would surpass Barclays and Deutsche Bank, and approach the scale of BNP Paribas.Founded in 2015 and led by CEO Nik Storonsky, Revolut plans to conduct multiple rounds of secondary transactions before its IPO to provide liquidity for internal shareholders while gauging the market's tolerance for its valuation. Storonsky has stated that an IPO is still at least two years away.Based on current revenue of $600 million and profits of $2.3 billion, the $115 billion valuation would give it a price-to-earnings ratio similar to high-growth technology companies. If the transaction goes through, Storonsky's stake would be worth at least $36 billion, placing him among the world's wealthiest fintech founders.Previously, Revolut was already Europe's most valuable private technology company at a valuation of $75 billion. A $115 billion valuation would now propel it into the ranks of top global financial institutions, setting a high bar for its future IPO and signaling investors' optimistic outlook on the company's valuation. (Bloomberg)
According to Bloomberg, digital bank Revolut is planning to launch a secondary share sale, with the transaction valued at approximately $11.5 billion. Sources familiar with the matter said the move aims to provide early investors and employees with an avenue to monetize their shares. The formal process could begin as early as this month, though specific details have not yet been finalized, and the company is currently in preliminary discussions with potential investors.
Odaily AI-driven anti-fraud infrastructure provider InfoHawk has announced the completion of a $2.25 million Pre-Seed funding round, led by Moonshots Capital, with participation from former U.S. Federal Trade Commission Chairman Jon Leibowitz, AppNexus founder Brian O'Kelley, former Meta advertising executive Rob Goldman, GitHub CTO Vlad Fedorov, and others. The new funds will be used to support the company's application of AI content recognition and deep infrastructure analysis technology to help enterprises detect, analyze, and combat large-scale online fraud, phishing sites, brand impersonation, and Deepfake attacks. (PRNewswire)
according to Hyperliquid market data disclosed by MLM, as the SpaceX IPO approaches, the SpaceX prediction market on Hyperliquid is currently quoted at approximately $166/share, corresponding to an implied valuation of about $2.15 trillion.Data shows that there are currently 4,528 traders holding open positions, of which 3,865 are long and 663 are short, with a long-to-short ratio of approximately 85:15. The open interest in this market is around $66.6 million, with cumulative trading volume exceeding $450 million, total units traded reaching 2.333 million, and the cumulative number of transactions over three weeks exceeding 917,000.In terms of profitability, among the 4,528 position holders, 1,001 are in profit, accounting for 22%; while 3,527 are in loss, accounting for 78%. Based on notional position size, the current largest short position holds approximately 27,100 SPCX units, with a position value of about $4.5 million; market maker Cumberland is the second largest short, holding approximately 18,700 SPCX short positions, valued at around $3.1 million.
CryptoQuant analyst Crypto Dan noted that Bitcoin’s MVRV is currently at 1.1, approaching the historically significant low-valuation zone that has marked major market bottoms. If the price falls further to the $50,000 level, the MVRV could reach 1.0—the full low-valuation threshold. Historical data shows this level appeared at the bottom of bear markets in 2015, 2019, and 2022, each time serving as the starting point for strong medium- to long-term rebounds.
Jiang Zhuo’er, founder of the Litecoin mining pool B.TOP, posted his views on Strategy’s Bitcoin sales. He believes Strategy will not sell large amounts of Bitcoin—only small amounts to pay interest. Jiang argues that Strategy raises funds by issuing new STRC tokens to purchase additional BTC, while simultaneously selling a tiny amount of its early-acquired, low-cost BTC to generate accounting profits for paying STRC interest. This reflects its “rolling strategy.” However, if Strategy sold absolutely no BTC, investors might suspect it was using new funds to pay old interest. Small-scale sales generate genuine profits and help maintain Strategy’s image of “never selling Bitcoin,” thereby facilitating continued fundraising.
: AI startup Moonshot AI is seeking to raise up to $2 billion in a new funding round, which would value the company at $30 billion. Moonshot AI has already entered early-stage talks with potential investors and plans to raise over $1 billion. Meanwhile, the company is nearing the completion of a funding round led by Meituan, which values it at $2 billion.As of April, Moonshot AI's annualized recurring revenue had exceeded $200 million, driven by increased demand for its Kimi chatbot and large language model. Additionally, the company is dismantling its offshore structure to pave the way for an initial public offering in Hong Kong, and plans to establish a joint venture structure to allow foreign capital to participate. The company recently launched Kimi Work, a general-purpose AI agent based on its K2.6 series model. (Bloomberg)
According to The Times of India, Indian police have arrested two more suspects in a cryptocurrency case suspected of involving terrorist financing, global drug trafficking, and dark web financial operations, bringing the total number of arrests in this case to 12.