The SpaceX IPO made history. Is the excitement still there? SpaceX investors have swung from celebration to apparent concern in its first month as a publicly traded company. When shares in the firm, co-founded and led by Elon Musk, first became available for individuals to buy on the public stock market on 12 June, there was an investor frenzy . Although the company had decided to price its shares at $135 each, the price immediately shot up to $150 that first day, climbing to $176, before closing at $160.95.

SpaceX's swift addition to the Nasdaq-100 index is expected to unleash billions in passive buying, as brokerages kicked off coverage of the $2 trillion rocket and satellite company with largely bullish views. The Elon Musk-led company joined the index on Tuesday, less than a month after its stock market debut on June 12 - among the fastest inclusions ever - thanks to the Nasdaq's revised rules for newly listed companies looking to enter widely tracked benchmarks. However, shares of SpaceX fell 5.4 percent, reflecting a slide in high-momentum tech stocks, including Micron Technology, on concerns about the longevity of the AI boom. "There's nervousness about expectations being too high," said Mark Hackett, chief market strategist for Nationwide. "I expect that to continue until we get some earnings out."

Report suggests SpaceX is testing a handheld AI device, Musk says it's'utterly false' Report suggests SpaceX is testing a handheld AI device, Musk says it's'utterly false' The purported gadget was reported to offer a way to access xAI's models without having to use a smartphone. SpaceX, the newly-public satellite internet company that also dabbles in rockets and CSAM-generating chatbots, might be building its own AI hardware. In the minutes since our article published, Elon Musk has replied to a post on X to say that the report is utterly false. The rest of this story below covers what the original article reported. The device is slimmer than an iPhone, according to, and is powered by one of Qualcomm's Snapdragon chips.

Many Australian superannuation portfolio's are invested in Elon Musk's company. Many Australian superannuation portfolio's are invested in Elon Musk's company. Artificial intelligence and technology stocks have become a driving force on Wall Street and, unbeknownst to most Australians, a growing part of their retirement savings . The so-called "magnificent seven" - chip maker Nvidia, Google owner Alphabet, Apple, Microsoft, Amazon, Facebook owner Meta and Tesla - are, for better or worse, increasingly part of the portfolios offered by superannuation funds. The average Australian super portfolio now has an estimated 12% of its investments in AI-related companies due to the massive growth of tech stocks in recent years, experts say.

SpaceX shares fell below its market debut price of $150 per share, wiping out $600bn in market value amid a broader tech sell-off rocking markets before jumping 2.4 percent. The dip in early trading on Tuesday follows a 16 percent slump on Monday that erased $400bn in market value for the Elon Musk-led aerospace company. Shares are still 10 percent above the $135 per share initial public offering. The company briefly surpassed Microsoft and Amazon in market value before falling to its most recent valuation of $1.9bn. A Reuters analysis found that of the 50 most-valued IPOs in the last five years, investors would have been better off buying S&P 500 index fund about three-quarters of the time than buying into a big IPO.

A campaign event in Los Angeles, California, for a proposed'billionaires tax', on 18 February. A campaign event in Los Angeles, California, for a proposed'billionaires tax', on 18 February. Despite more than double the needed number of signatures to qualify for ballot, there's uncertainty it'll make it to voters Nick Robins-Early and Dara Kerr here, filling in for your usual host Blake Montgomery who is out on vacation. We'll be talking about the fight over a proposed billionaire tax in California, the UK's social media ban and SpaceX making a big buy in the AI arms race. The California wealth tax showdown comes to a head this week.

On today's, we dive into the dysfunction in Meta's newly formed AI unit and why it's been driving already-low employee morale even further into the ground. This week on, our hosts discuss the meltdown that has been recently unfolding at Meta and what it says about the company's relentless ambitions in the AI race. They also dive into the leaked messages and names of an invite-only group cofounded by billionaire tech founder Peter Thiel, and how Sam Bankman-Fried is now actively seeking a pardon from the Trump administration. Plus, they share their impressions on SpaceX acquiring Cursor and the latest on the negotiations between Anthropic and the government. 'Tell Him He's a Piece of Shit': Meta's New AI Unit Is a Total Mess Write to us at [email protected] . You can always listen to this week's podcast through the audio player on this page, but if you want to subscribe for free to get every episode, here's how: If you're on an iPhone or iPad, open the app called Podcasts, or just tap this link . Before we start, two quick things. If you've been enjoying listening to the show, we would appreciate it if you took a second to rate it in your podcast app of choice. It really helps us reach more people. And second, if you have any questions related to tech, privacy, or politics that you would like me, Zoë, and Leah to take on, now is the time to submit them to [email protected] . It doesn't matter how big or how small, we want to hear from you and get you answers. Today on the show, we're talking about the dysfunction in Meta's newly formed AI unit and why it's been driving employee morale, which was already very, very low, even further into the ground. We'll also break down the recent online leak that shed light on Peter Thiel's invite-only group, Dialog, more than 200 names of high profile people in government, tech, academia, beyond are listed in the documents as members and guests of this secretive society, not to mention a look at what they talk about behind closed doors.

"You would not believe the texts I got from these tech guys," NYT reporters Maggie Haberman and Jonathan Swan quote Donald Trump as telling associates in an upcoming book. Meta CEO Mark Zuckerberg and Amazon founder Jeff Bezos sought to ingratiate themselves with President Donald Trump after he won the 2024 election, and in return he mocked their efforts behind their backs, according to a new book by The New York Times reporters Maggie Haberman and Jonathan Swan. Zuckerberg once texted Trump a photo of a letter written by one of his grade-school-age children, who wrote that they "looked forward to the golden age of America," a slogan Trump had repeated at rallies during the presidential campaign. And over dinner at Trump's Mar-a-Lago club, Bezos denigrated The Washington Post to Trump and essentially described the newspaper as one of his worst financial investments, months before he unsuccessfully sought a business favor from the president. These episodes are detailed in the book, a copy of which WIRED obtained ahead of its release on June 23.

Weekly quiz: How many SpaceX employees just became millionaires? This week, the White House hosted a UFC fight on its South Lawn, Royal Marines boarded a Russian shadow fleet oil tanker, and a schoolgirl said she would be left staring at a wall if social media was banned for under-16s. But how much attention did you pay to what else happened in the world over the past seven days? Try last week's quiz, or have a go at something from the archives . Musk's SpaceX overtakes Amazon to become world's fifth most valuable firm For the first time, individual investors can take a stake in Elon Musk's rockets-to-AI company.

Silicon Valley's Elite Financial Advisers Say This Era of Wealth Is Different The rich are getting richer. Here's what wealth advisers are telling their tech clients right now. If anyone in tech has already started their Hot IPO Summer, it's Silicon Valley's elite wealth advisers. Two private wealth managers who work with high-net-worth techies told me they've seen an uptick in activity from their client base, some of whom are expecting a big liquidity event this year. We're talking, of course, about the employees and early investors at SpaceX, OpenAI, and Anthropic who are coming into mind-boggling riches.