SpaceX-xAI’s record $75 billion IPO on June 12 marks the moment AI infrastructure financing moved from venture capital to public markets, with $30 billion in compute deals and a $1.77 trillion valuation setting the benchmark.
Posted inMarkets
Brent crude falls to an eight-week low as Iran deal text reaches final agreement
Brent crude fell more than 4% on Friday to below $84 per barrel, an eight-week low, after Pakistan confirmed the United States and Iran had agreed a final deal text including Strait of Hormuz reopening.
Posted inEconomy
Markets price a Fed hike for the first time as Warsh chairs his June 17 FOMC debut
For the first time in two years markets are pricing a Fed rate hike as Kevin Warsh chairs his first FOMC meeting on June 16–17, with US inflation at 4.2% and no cut bets remaining for all of 2026.
Posted inGeopolitics
Pakistan declares Iran-US deal text agreed as Tehran awaits supreme leader’s sign-off
Pakistan announced on June 12 that the US and Iran have agreed a final deal text including nuclear dismantlement and Strait of Hormuz reopening, with Iran’s supreme leader’s approval the last remaining step.
Posted inWorld
South Korean court adds 30 more years to Yoon over North Korea drone provocation
A Seoul court sentenced Yoon Suk Yeol to 30 additional years on June 12, finding he ordered military drones over Pyongyang to fabricate a pretext for his December 2024 martial law declaration.
Posted inTech
EU orders Meta to restore WhatsApp access for rival AI chatbots
The European Commission on June 9 issued interim measures ordering Meta to reinstate third-party AI assistants to the WhatsApp Business API within five days, citing antitrust concerns over fees deemed economically unsustainable for competitors.
Posted inMarkets
SpaceX begins trading on Nasdaq at $135, completing the world’s largest ever IPO
SpaceX’s SPCX shares opened on the Nasdaq on June 12 at $135 per share, completing a $75 billion raise — the largest IPO in history — and valuing the merged SpaceX-xAI entity at $1.77 trillion.
Posted inEconomy
ECB raises rates to 2.25% in first hike since 2023 as Iran war drives inflation
The European Central Bank raised its deposit facility rate by 25 basis points to 2.25% on June 11, citing persistent energy-driven inflation from the Middle East conflict, with headline eurozone inflation forecast to average 3% in 2026.
Posted inGeopolitics
Trump cancels Iran strikes and signals a deal could be signed this weekend
President Trump on June 11 called off planned strikes on Iran and said a memorandum of understanding to end hostilities could be signed as early as this weekend, potentially reopening the Strait of Hormuz.
Posted inWorld
Abiy Ahmed wins commanding majority in Ethiopia’s first full election since 2021
Ethiopia’s Prosperity Party captured 457 of 547 parliamentary seats on 1 June, giving Prime Minister Abiy Ahmed a new five-year term despite security disruptions in Tigray and Amhara.