Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In FS KKR Capital To Contact Him Directly To Discuss Their Options
If you purchased or acquired securities in FS KKR Capital between May 8, 2024 and February 25, 2026 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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New York, New York--(Newsfile Corp. - June 13, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against FS KKR Capital Corp. ("FS KKR Capital" or the "Company") (NYSE: FSK) and reminds investors of the July 3, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Company overstated the effectiveness of its portfolio restructuring efforts for its nonaccrual companies; (2) the Company overstated the valuation of its portfolio investments and/or overstated the effectiveness of the Company's portfolio valuation process; (3) the Company overstated the durability of its quarterly distribution strategy; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding FS KKR Capital's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the FS KKR Capital Corp. class action, go to www.faruqilaw.com/FSK or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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Frequently Asked Questions (FAQ) for Investors Regarding the FS KKR Capital Corp. Securities Class Action Lawsuit:
What is the FS KKR Capital securities fraud lawsuit about?
The FS KKR Capital securities fraud lawsuit is a federal securities class action alleging that FS KKR Capital Corp. (NYSE: FSK) and its executives made false and misleading statements to investors by overstating the effectiveness of its portfolio restructuring efforts for nonaccrual companies, overstating the valuation of its portfolio investments, and overstating the durability of its quarterly distribution strategy. As the truth emerged through a series of disclosures - including an August 6, 2025 report revealing a 6.2% decline in net asset value, a $474 million drop in total fair value of investments, and a loss per share of negative $0.75, followed by a February 25, 2026 announcement of further NAV deterioration, an additional $406 million decline in investment fair value, a dividend cut from $0.70 to $0.48 per share, and an acknowledgment that identified problem companies accounted for only 50% of net realized and unrealized losses - FSK's stock price dropped sharply, causing significant losses for investors.
Who may be eligible to participate in the FS KKR Capital class action lawsuit?
Investors who purchased or acquired FS KKR Capital Corp. (FSK) stock between May 8, 2024 and February 25, 2026 - the Class Period - and suffered financial losses may be eligible to participate in the FS KKR Capital securities class action. Participation as a class member does not require taking any affirmative legal action; eligible investors may recover losses simply by remaining members of the class. Whistleblowers, former FS KKR Capital employees, and others with relevant information about the Company's conduct are also encouraged to come forward.
What is a lead plaintiff, and how can I seek appointment in the FS KKR Capital lawsuit?
A lead plaintiff in the FS KKR Capital class action is a court-appointed investor - typically the one with the largest financial interest in the case - who directs and oversees the litigation on behalf of all class members. Any FS KKR Capital investor who purchased FSK stock during the Class Period may move the Court to serve as lead plaintiff through counsel of their choice. The deadline to seek lead plaintiff appointment is July 3, 2026. Importantly, choosing not to seek the lead plaintiff role does not affect an investor's ability to share in any recovery obtained for the class.
What should investors do if they purchased FS KKR Capital stock during the Class Period?
Investors who purchased FS KKR Capital Corp. (FSK) stock between May 8, 2024 and February 25, 2026 and suffered losses should contact Faruqi & Faruqi, LLP immediately to discuss their legal rights. The deadline to seek appointment as lead plaintiff in the FS KKR Capital securities class action is July 3, 2026. To speak directly with securities litigation partner Josh Wilson, call 877-247-4292 or 212-983-9330 (Ext. 1310), or visit www.faruqilaw.com/FSK for more information.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301302
Source: Faruqi & Faruqi LLP
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Just eight months ago, SoFi (SOFI 0.51%) was trading for nearly $33 per share. Today, it trades for about half of that price, despite posting 41% revenue growth, record loan originations, rapidly growing profitability, and excellent progress in cross-selling products to its existing membership base.
So, why is there such a disconnect between SoFi's stock performance and the growth of its business? To be fair, the stock is down for a reason -- actually, several of them, which I'll discuss in a bit. But I'm making a bold prediction that SoFi will return to its previous highs, more than doubling from its current level, within one year.
Image source: SoFi.
How SoFi got here Before we go further, it's important to understand what triggered the 50% decline from the highs. And there isn't just one reason. Just to name a few:
SoFi's lending business benefits from lower interest rates and a strong consumer environment. With inflation rising to a 3-year high, interest rates have not only remained stubbornly elevated, but there's a firm possibility that the Federal Reserve will raise interest rates. SoFi's first-quarter results handily beat expectations, but management kept guidance steady, suggesting a deceleration later in the year. SoFi raised $1.5 billion by selling shares earlier this year (at around $27 per share) with no clear reason. The bank was already well capitalized. Moves like this are (correctly) perceived as being dilutive to shareholders. There are a few other negative catalysts, including being passed over for S&P 500 inclusion and a short-seller report from Muddy Waters Research.
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Reasons SoFi could double As mentioned earlier, SoFi's recent results have been excellent. In the first quarter of 2026, SoFi reported 41% year-over-year revenue growth, 35% growth in its membership base to 14.7 million, an all-time high of $12.2 billion in loan origination volume, and net income more than doubling year-over-year.
Not only that, but management anticipates earnings per share growing at an annualized rate of about 40% through at least 2028.
One specific number to watch is SoFi's cross-buy rate, which has steadily risen from 36% a year ago to 43% in the first quarter. This is the percentage of SoFi's products that are opened by existing customers, which is significant for two reasons. For one thing, a high cross-buy rate means that its customers are deepening their relationship with SoFi. Second, it's far more economical to sell products to existing customers, where acquisition costs are nearly zero. Currently, the average SoFi customer has about 1.5 products with the bank, in contrast to 4-6 products for the typical "mega bank" customer, so there's lots of room to improve here.
Other potential catalysts include SoFi's recently launched stablecoin (the first from a chartered bank), the new SoFi Plus premium membership, and the fee-generating loan platform business, just to name a few.
There are also some catalysts that are outside SoFi's control, such as the direction of interest rates or general consumer sentiment. If the Iran war ends sooner rather than later and energy prices, in particular, cool off, it could provide a nice tailwind for the financial sector.
The bottom line Of course, I know that it's a bold prediction to say that SoFi stock will double within a year. And if certain factors outside SoFi's control, such as the interest rate environment, don't cooperate, it could keep the stock at a low valuation.
Having said that, SoFi has all the makings of a misunderstood stock with more upside potential than many think. The risk-reward dynamics look extremely attractive right now, and not only is SoFi already one of my larger positions in my portfolio, but I plan to add to it at these levels.
"Where we're going, we don't need roads!" said Doc Brown of Back to the Future before revving up the most famous flying car in the history of film -- the iconic, lightning-powered, Flux Capacitor-embedded DeLorean.
The phrase could just as well be the motto of Archer Aviation (ACHR 4.15%). Archer, like Doc, has a flying car -- Midnight, an electric takeoff vertical and landing (eVTOL) aircraft. It might not travel back in time, but it can travel above streets and turnpikes at a targeted speed of 150 mph, cutting an hour-long slog through traffic to 10 minutes or less.
Archer stock has been trailing the market in 2026, as Wall Street continues to worry about FAA certification timelines and ongoing losses. And yet for those who believe eVTOLs will transform transportation, today's dip in Archer Aviation might be an opportunity, one that could grow tenfold or more over the long run. Here's how.
Image source: Archer Aviation.
A tenfold gain to Archer stock would bring its market cap to $45 billion Archer Aviation currently trades between $5 and $6 a share, with a market cap of about $4.5 billion. A tenfold gain to Archer stock at today's price, then, would bring its market cap to $45 billion -- assuming no significant stock dilution. In reality, Archer has increased its share count substantially over the years to fund operations, and chances are more dilution is coming. For the sake of example, however, we'll use $45 billion, knowing that the actual market cap needed to support a tenfold gain could be higher.
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What would need to happen for this stock to grow into a $45 billion market cap? For one, the FAA regulatory process, which Archer is currently moving through, would be a thing of the past. Two, Archer would need to be generating meaningful revenue. Assuming a price-to-sales ratio of 20 -- roughly where Tesla (TSLA +1.65%) traded at the end of 2020, when investor enthusiasm reached feverish levels -- Archer would need to generate about $2.3 billion in revenue.
That's not a lofty long-term target. In fact, analysts currently expect Archer's revenue to reach nearly $500 million within two years.
Data by YCharts
The FAA type certification hurdle is taller than you might think The leap from $93 million to $482 million in the graph above suggests analysts expect Archer to make substantial progress toward commercialization over the next several years. FAA type certification is crucial because, without it, Archer can't bring Midnight into commercial services.
It would be a mistake, however, to assume that Archer will just whizz through the FAA certification process in two years. Yes, the White House is very eager to see these electric aircraft flying, and yes, it is competing with China to establish leadership in eVTOL technology. But if history tells us anything, it's that the FAA will rush for no one. And big business or not, there's no reason to think eVTOL companies will get special FAA treatment.
Here's a fun example to ponder. Ever heard of the Leonardo AW609 tiltrotor? It's not an electric aircraft, but it shares the same basic concept as Archer's Midnight. It takes off like a helicopter and cruises like an airplane. The AW609 was designed in the early 1990s and began test flights in the early 2000s. It expected to get type certification by 2017. To date, it still hasn't.
Archer's Midnight aircraft, with its fully electric propulsion and motor systems, is significantly simpler than the AW609, so my mention of it isn't meant to be an apples-to-apples comparison. Still, my point is the same: One does not simply walk into the FAA and walk out with a type certification. The process could drag on for years, with deadlines sailing by and operating costs ballooning.
Well, let's hope that doesn't happen to Archer. If so, any hopes of a tenfold gain could drop vertically like the eVTOL Archer is trying to build.
Several stocks trading below $10 are drawing fresh attention from Wall Street analysts, even as broader markets remain focused on mega-cap technology names.
The appeal is not simply that these shares look cheap.
Each company sits inside a larger investment theme, from quantum computing and voice AI to fintech automation, space imaging and electric aviation.
The risks are high, and many of these businesses are still proving their models.
But as of June 2026, analysts see meaningful upside in a handful of overlooked names where small price tags are tied to potentially large markets.
1. Quantum Computing Inc. is one of the more speculative names on the list.
The company, known by its ticker QUBT, is trying to build hardware and software tools that make quantum computing more practical for enterprises.
Cantor Fitzgerald analyst Troy Jensen remains a cautious voice.
According to TipRanks, Jensen kept a Neutral rating and a $10 price target on QUBT, while estimating that the company could reach about $375 million in sales by 2035 if it captures 5% of the quantum market.
That caution sits against a more bullish broader view. TipRanks data shows a Strong Buy consensus on QUBT, based on three Buys and one Hold over the past three months.
The average price target of $17.50 implies roughly 77% upside from recent levels.
2. SoundHound AI (NASDAQ: SOUN) offers a different kind of AI exposure.
Instead of large language models or chips, the company focuses on voice-based artificial intelligence used in cars, restaurants and enterprise customer-service systems.
TipRanks recently showed a Strong Buy consensus on SOUN, with five Buys and one Hold, while other aggregators have been more restrained.
The stock’s average target is around the mid-teens, suggesting analysts still see upside if enterprise adoption keeps improving.
The key risk is execution as SoundHound needs customers to move from pilots and partnerships to sustained revenue growth.
3. Blend Labs (NYSE: BLND) is the turnaround story in the group. The fintech software company helps banks and lenders automate mortgage, consumer-loan and deposit-account workflows.
The stock was hit hard during the housing slowdown, when mortgage activity weakened and investors lost patience with growth software names.
Since then, Blend has been cutting costs, improving margins and adding AI tools for financial institutions.
Canaccord recently lowered its Blend Labs price target to $4.50 from $5.25, according to TipRanks, but kept a Buy rating.
The firm cited Blend’s continued push on growth, profitability and product expansion despite a difficult mortgage backdrop.
4. Satellogic (NASDAQ: SATL) is less flashy but has one of the clearest business cases.
The company provides high-resolution Earth-observation data, a market driven by demand from governments, defence agencies and commercial customers.
Northland analyst Michael Latimore recently raised his target on SATL to $11 from $9 and kept an Outperform rating after the company won an $18 million defence contract.
Latimore also lifted his FY26 revenue estimate to $45 million and narrowed his expected EBITDA loss, helped by the contract’s high-margin profile.
Wall Street’s consensus rating on SATL is Strong Buy, with four Buys and one Hold. The average target of $10.60 implies about 41% upside.
5. Archer Aviation (NYSE: ACHR) is the highest-risk, highest-imagination name here.
Electric air taxis still sound futuristic, and the path to commercial scale remains expensive, regulated and uncertain.
Still, analysts are not treating Archer as a meme stock.
The company has made progress through the FAA certification process for its Midnight aircraft, and investors are watching infrastructure plans, defence opportunities and institutional backing closely.
Investing.com data shows an average 12-month price target of about $10.61 for ACHR, with six analysts recommending Buy and no Sell ratings.
MarketBeat puts the average target closer to $11.83, implying more than 100% upside from recent levels.
Artificial intelligence (AI) has already created trillions of dollars worth of value for investors, but not every stock in this space has been a winner. C3.ai (AI 3.28%), for instance, is down 21% so far in 2026, as investors digest the company's declining revenues and ballooning losses.
Last September, C3.ai founder Thomas Siebel stepped down from his role as chief executive officer (CEO) to deal with health issues. He played a pivotal role in attracting new customers and maintaining relationships with existing ones, so his departure led to a sharp decline in the company's sales.
However, Siebel returned to the CEO role on May 8 and is laser-focused on getting C3.ai back on track, so should investors buy the stock while it's still trading in the red for 2026, or is more downside ahead?
Image source: Getty Images.
Helping enterprises unlock the power of AI Developing AI software from scratch requires billions of dollars' worth of data center infrastructure, and a significant amount of technical expertise. The average business simply doesn't have those resources, so many of them choose to work with third-parties like C3.ai instead.
C3.ai offers a portfolio of 40 ready-made AI applications that can be customized to suit the needs of enterprises in a variety of industries, accelerating their adoption of this revolutionary technology. As an example, oil and gas giant Shell uses C3.ai's apps to monitor thousands of items of equipment so it can conduct preventative maintenance and even predict failures, which minimizes downtime.
Retailers can also use apps like C3.ai Inventory Optimization, which analyzes variations in customer demand to ensure they are ordering precisely enough products, which limits waste. Banks and financial institutions can use the C3.ai Anti-Money Laundering app to identify suspicious transactions with greater accuracy than human-led processes.
Enterprises can access C3.ai's suite of apps through all major cloud providers, including Amazon Web Services, Microsoft Azure, and Alphabet's Google Cloud. This allows them to seamlessly integrate AI into their existing digital environments, and it means they can tap into the data center computing capacity on offer from their cloud provider to scale their usage as necessary.
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C3.ai expects sales to continue declining C3.ai generated $250.3 million in revenue during fiscal 2026 (ended April 30), which was a whopping 35% decline from the prior year. Stephen Ehikian, who served as CEO in Siebel's absence, initiated a complete restructure of the company to limit the damage from the sharp decline in sales.
Unfortunately, his efforts couldn't prevent a $470.4 million loss at the bottom line in fiscal 2026, which was 63% higher than the company's loss in fiscal 2025. With just $575.4 million in cash, equivalents, and marketable securities on hand at the end of the fiscal year, C3.ai simply can't afford another blowout loss in fiscal 2027, so it slashed roughly 35% of its workforce.
While this will reduce costs and stop some of the bleeding, it will also have negative implications for the company's ability to grow. As a result, management is forecasting revenue of between $210 million and $240 million in fiscal 2027, which would be a year-over-year decline even at the high end of the range.
C3.ai stock looks cheap, but that doesn't mean it's a buy C3.ai stock currently trades at a price-to-sales (P/S) ratio of 6.1, which is below its five-year average of 10.5, so it looks like a good value from that perspective. But because the company's revenue is forecast to shrink in fiscal 2027, its forward P/S ratio is 6.9, so the stock actually looks more expensive when looking into the future.
AI PS Ratio data by YCharts
This is precisely why most investors won't buy into a shrinking business -- it can actually get more expensive over time even if its stock price is falling. It's too early to say whether Siebel can turn C3.ai around over the long term, but all we know for sure is that investors will have to endure at least one more year of declining sales, which makes this a very tough investment.
In summary, a beaten-down stock isn't always a cheap stock. C3.ai will have to prove it can return to growth in a sustainable way before I would consider buying its stock.
June 13, 2026 07:30 ET | Source: Intellia Therapeutics, Inc.
Data from HAELO Phase 3 clinical trial presented today in a late-breaking oral session at European Academy of Allergy & Clinical Immunology Annual Congress 2026HAELO manuscript simultaneously published in the New England Journal of Medicine CAMBRIDGE, Mass., June 13, 2026 (GLOBE NEWSWIRE) -- Intellia Therapeutics, Inc. (Nasdaq: NTLA), a leading biopharmaceutical company focused on revolutionizing medicine leveraging CRISPR gene editing and other core technologies, today presented additional positive results from the global Phase 3 HAELO clinical trial of lonvo-z (formerly NTLA-2002) for hereditary angioedema (HAE) in a late-breaking oral presentation at the European Academy of Allergy & Clinical Immunology (EAACI) Annual Congress 2026 in Istanbul, Türkiye. Results from the trial were simultaneously published in the New England Journal of Medicine. The presentation and publication can be accessed from the Scientific Publications and Presentations section of intelliatx.com.
As previously announced, HAELO met its primary endpoint with an 87% reduction (p<0.0001) in mean monthly attacks in the lonvo-z arm vs. the placebo arm during the efficacy evaluation period (weeks 5 to 28). In addition, 62% of patients in the lonvo-z arm were entirely attack free and therapy free for the six-month efficacy evaluation period, compared with 11% of patients in the placebo arm (p<0.0001), a key secondary endpoint. Today, Intellia reported data for the trial’s other key secondary endpoints:
Key Secondary EndpointLonvo-z Arm (N=52)Placebo Arm (N=28)Monthly rate of attacks requiring on-demand treatment Weeks 5-28, mean (95% CI)
0.19 (0.10, 0.36)1.79 (1.27, 2.54)89% reduction (79%, 94%), p<0.0001Monthly rate of moderate/severe attacks Weeks 5-28, mean (95% CI)
0.11 (0.06, 0.23)1.23 (0.84, 1.81)91% reduction (81%, 96%), p<0.0001Change from baseline to Week 28 in AE-QoL total score, mean (95% CI)
-23.51 (-27.64, -19.38)-6.47 (-12.26, -0.68)-17.04 improvement (-24.15, -9.93), p<0.0001 AE-QoL: Angioedema Quality of Life score, which is a validated, angioedema-specific patient-reported outcome measure with a lower score indicating improved quality of life. A 6-point reduction is considered to be a clinically important improvement in AE-QoL.
CI: Confidence interval
Favorable safety and tolerability data were observed for lonvo-z. The most common treatment emergent adverse events (TEAEs) during the primary observation period (infusion through week 28) that were higher in the lonvo-z group compared to placebo were infusion-related reaction, headache, fatigue, back pain, and upper respiratory tract infection. All reported TEAEs were mild or moderate and there were no serious adverse events observed in the lonvo-z arm.
“These are the first Phase 3 results to deliver on the much-heralded promise of in vivo CRISPR gene editing,” said John Leonard, M.D., Intellia President and Chief Executive Officer. “Regardless of age or prior use of long-term prophylaxis therapies, it was observed that a single lonvo-z treatment significantly reduced HAE attacks for all patients during the efficacy evaluation period, with all patients remaining LTP free as of the data cutoff. We thank the many patients, physicians and caregivers who participated in HAELO and are excited to be advancing this highly differentiated candidate toward a potential approval.”
Danny Cohn, M.D., Ph.D., Internist, Department of Vascular Medicine, Amsterdam Cardiovascular Sciences, Amsterdam University Medical Center, and a HAELO principal investigator, added, “As a clinician who has witnessed patients struggle with the unpredictability and emotional toll of HAE, the prospect of offering lasting freedom from attacks and chronic medication with a one-time treatment is incredibly exciting. These results give me confidence that many patients will soon have the potential to enjoy a normal life.”
Today’s presentation and publication also included supplemental demographics, data and analyses, including:
A time plot showing that the mean monthly attack rate for patients receiving lonvo-z through the data cutoff (February 10, 2026) was well below the reported rate in prescreening while patients were receiving standard-of-care therapy;Patient-level data demonstrating that all patients in the lonvo-z arm experienced attack-rate reductions from baseline during weeks 5 to 28;An analysis showing that meaningful attack-rate reductions were observed for all evaluated subgroups;A breakdown showing that 20% of the patients who enrolled in HAELO reported having complete disease control (no attacks) as their best response to prior long-term prophylaxis therapies; andA plasma kallikrein time plot showing that protein levels decreased substantially by the first measurement (day 15), reached a steady state by week 5 and remained stable through the data cutoff. A rolling biologics license application (BLA) submission for lonvo-z was initiated in April with the U.S. Food and Drug Administration (FDA). The company continues to anticipate regulatory approval and a U.S. launch in the first half of 2027.
About Lonvo-z
Based on Nobel Prize-winning CRISPR/Cas9 technology, lonvo-z has the potential to become the first one-time treatment for hereditary angioedema (HAE). Lonvo-z is an in vivo CRISPR gene editing candidate that is intended to permanently lower kallikrein by inactivating the kallikrein B1 (KLKB1) gene with a single dose. Lonvo-z has received five notable regulatory designations: Orphan Drug and RMAT Designation by the U.S. Food and Drug Administration (FDA), the Innovation Passport by the U.K. Medicines and Healthcare products Regulatory Agency (MHRA), Priority Medicines (PRIME) Designation by the European Medicines Agency, as well as Orphan Drug Designation (ODD) by the European Commission.
About Hereditary Angioedema
Hereditary angioedema (HAE) is a rare, genetic disease characterized by severe, recurring and unpredictable inflammatory attacks in various organs and tissues of the body, which can be painful, debilitating and life-threatening. It is estimated that one in 50,000 people are affected by HAE. There are preventative and on-demand treatment options to help manage the condition, including long- and short-term prophylaxis used to prevent swelling attacks. Current treatment options often include lifelong therapies, which may require chronic intravenous (IV) or subcutaneous (SC) administration as often as twice per week or daily oral administration to ensure constant pathway suppression for disease control. Despite chronic administration, breakthrough attacks still occur. Kallikrein inhibition is a clinically validated strategy for the preventive treatment of HAE attacks.
About Intellia Therapeutics
Intellia Therapeutics, Inc. (Nasdaq: NTLA) is a leading clinical-stage biopharmaceutical company focused on revolutionizing medicine leveraging CRISPR gene editing and other core technologies. The company’s mission is to transform the lives of people with severe diseases by developing and commercializing potentially curative treatments. With deep scientific, technical and clinical development experience, Intellia aims to reset the standard for medicine by durably treating the root causes of disease. Learn more at intelliatx.com and follow us @intelliatx.
Forward-Looking Statements
This press release contains “forward-looking statements” of Intellia Therapeutics, Inc. (“Intellia” or the “Company”) within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, express or implied statements regarding Intellia’s beliefs and expectations concerning: the success and advancement of its program for lonvoguran ziclumeran or “lonvo-z” (formerly NTLA-2002) for the treatment of hereditary angioedema (“HAE”), including its plan to complete the submission of a biologics license application (“BLA”) for lonvo-z, its expectations regarding review and approval of that BLA, and its expectations regarding a potential U.S. launch of lonvo-z in the first half of 2027; and the potential of one dose of lonvo-z to become the first one-time treatment for HAE and to permanently lower kallikrein by inactivating the kallikrein B1 (KLKB1) gene with a single dose.
Any forward-looking statements in this press release are based on management’s current expectations and beliefs of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: uncertainties related to the conduct of clinical studies and other development and commercialization requirements for its product candidates, including lonvo-z, including risks related to the ability to develop and successfully commercialize lonvo-z or any of Intellia’s product candidates; risks related to Intellia’s ability to protect and maintain its intellectual property position; risks related to Intellia’s relationship with third parties, including its contract manufacturers, collaborators, licensors and licensees; risks related to the ability of its licensors to protect and maintain their intellectual property position; risks related to the results of preclinical studies or clinical studies not being predictive of future results in connection with future studies; the risk that clinical study results will not be positive; and risks related to the potential delay of planned clinical trials or regulatory filings due to regulatory feedback or other developments. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Intellia’s actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors” in Intellia’s most recent annual report on Form 10-K, as well as discussions of potential risks, uncertainties, and other important factors in Intellia’s other filings with the Securities and Exchange Commission, including its quarterly report on Form 10-Q. All information in this press release is as of the date of the release, and Intellia undertakes no duty to update this information unless required by law.
Investor Contact:
Jason Fredette
Vice President, Investor Relations and Corporate Communications
Intellia Therapeutics, Inc. [email protected]
Media Contact:
Mike Tattory
Vice President
LifeSci Communications [email protected]
MIAMI, FL, June 13, 2026 (GLOBE NEWSWIRE) -- Dengan SpaceX (NASDAQ: SPCX) dijangka mula didagangkan di Nasdaq hari ini, Defiance ETFs mengesahkan bahawa Defiance Daily 2X Space ETF (Cboe: SPCL) akan menyasarkan pendedahan berleveraj harian 2X kepada saham biasa Kelas A SpaceX dalam portfolionya. Langkah ini menjadikan SPCL sebagai dana dagangan bursa (ETF) pertama dan satu-satunya di Amerika Syarikat yang mempunyai pendedahan 2X kepada SpaceX pada hari IPO. Pendedahan SpaceX dalam dana tersebut ditetapkan pada harga IPO sebanyak USD135 sesaham.
SpaceX menetapkan harga penawaran awam perdana pada USD135 sesaham dan mula didagangkan hari ini dengan simbol tiket SPCX. Pada harga tersebut, syarikat ini dinilai kira-kira USD1.77 trilion, yang menurut laporan merupakan IPO terbesar dalam sejarah Amerika Syarikat berdasarkan nilai pasaran pada hari penyenaraiannya.
Dengan menetapkan pendedahan SpaceX pada harga IPO USD135, bukannya pada harga pembukaan dagangan awam, SPCL menyediakan pendedahan berleveraj harian 2X kepada SpaceX kepada pedagang aktif sebaik sahaja pasaran dibuka.
Untuk maklumat lengkap mengenai dana, prospektus, pegangan portfolio dan prestasi setakat akhir bulan terkini, layari defianceetfs.com/spcl atau hubungi 833.333.9383.
Pelaburan dalam SPCL bukan pelaburan langsung ke dalam sekuriti asas. Dana ini tidak sesuai untuk semua pelabur. Ia direka khusus untuk pelabur berpengetahuan yang memahami implikasi mencari hasil pelaburan leveraj harian (2X), menyedari risiko penggunaan leveraj, dan bersedia memantau portfolio mereka dengan kerap. Dana ini tidak bertujuan untuk digunakan oleh pelabur yang tidak berhasrat untuk memantau serta mengurus portfolio secara aktif. Dana ini mempunyai objektif pelaburan berleveraj harian, yang bermaksud ia lebih berisiko berbanding alternatif yang tidak menggunakan leveraj. Dana ini menggandakan prestasi Portfolio Sasaran dan direka semata-mata untuk kegunaan jangka pendek. Bagi tempoh melebihi satu hari, prestasi Dana akan menjadi hasil pulangan harian terkumpul, yang hampir pasti berbeza daripada 200% pulangan Portfolio Sasaran bagi tempoh yang sama. Pelabur mungkin kehilangan keseluruhan modal dalam satu hari dagangan.
Penyataan Pendedahan Penting
Defiance ETFs LLC ialah penaja ETF. Penasihat pelaburan Dana ini ialah Tidal Investments LLC (“Tidal” atau “Penasihat”).
Objektif pelaburan, risiko, caj dan perbelanjaan Dana mesti dipertimbangkan dengan teliti sebelum membuat pelaburan. Prospektus dan prospektus ringkas mengandungi maklumat ini serta maklumat penting lain dan boleh diperoleh dengan menghubungi 833.333.9383 atau melayari defianceetfs.com/spcl. Sila baca prospektus dan prospektus ringkas dengan teliti sebelum melabur.
Pelaburan dalam Dana melibatkan tahap risiko yang tinggi. Seorang pelabur boleh kehilangan keseluruhan nilai prinsipal pelaburannya dalam satu hari dagangan.
Risiko Strategi dan Penyusunan Semula. Dana ini diurus secara aktif dan, menurut Prospektus yang telah dipinda baru-baru ini, boleh menyusun semula portfolionya supaya tertumpu kepada pendedahan terhadap satu sekuriti syarikat angkasa lepas sebagai tindak balas kepada suatu “Peristiwa Angkasa Material” – ditakrifkan termasuk penawaran awam perdana (IPO) sesebuah syarikat, seperti SpaceX, yang ditentukan oleh Penasihat sebagai peserta penting dalam ekonomi angkasa. IPO SpaceX, sebagai Peristiwa Angkasa Material, akan menyebabkan Dana memegang keseluruhan atau sebahagian besar portfolionya dalam instrumen yang memberikan pendedahan kepada saham SpaceX, sekali gus mendedahkan Pemegang Saham sedia ada dan masa depan kepada portfolio pelaburan yang jauh lebih tertumpu dan berpotensi lebih volatil akibat peristiwa tersebut. Hasil pelaburan Dana berikutan penyusunan semula sebagai tindak balas kepada Peristiwa Angkasa Material mungkin berbeza secara ketara daripada hasil sebelumnya, dan Dana mungkin buat sementara waktu menyimpang daripada tahap pendedahan harian yang disasarkan. Prospektus Dana tidak mewajibkan Penasihat memberikan notis awal sebelum penyusunan semula; bagaimanapun, Portfolio Sasaran Dana diterbitkan secara harian di laman webnya di www.defianceetfs.com/spcl.
Pelaburan dalam Dana bukanlah pelaburan langsung dalam SpaceX. Dana ini berusaha mendapatkan pendedahan kepada saham biasa Kelas A SpaceX, serta sekuriti syarikat angkasa lain, melalui derivatif dan bukannya dengan memegang sekuriti asas secara langsung. Pegangan Dana boleh berubah pada bila-bila masa dan tidak boleh dianggap sebagai cadangan untuk membeli atau menjual mana-mana sekuriti.
Risiko Portfolio Tertumpu dan Kepekatan. Dana ini mungkin mencari pendedahan kepada satu atau sejumlah kecil sekuriti syarikat angkasa, termasuk SpaceX. Memandangkan pendedahan Dana tertumpu kepada satu atau sebilangan kecil saham pendasar seperti SpaceX, Dana terdedah kepada pergerakan harga, prestasi perniagaan, perkembangan pengawalseliaan dan risiko lain yang khusus kepada SpaceX atau syarikat angkasa lain. Dana ini jauh kurang terdiversifikasi berbanding ETF tradisional. Prestasinya juga lebih tidak menentu berbanding dana yang memberi pendedahan kepada sektor pasaran yang lebih luas atau menjejaki indeks sekuriti berasaskan luas.
Risiko Leveraj, Penggandaan dan Tetapan Semula Harian. Dana ini mensasarkan hasil pelaburan harian bersamaan 200% daripada prestasi harian Portfolio Sasaran yang terdiri daripada satu atau sejumlah kecil sekuriti syarikat angkasa. Portfolio tersebut boleh termasuk, atau sepenuhnya terdiri daripada, saham biasa Kelas A SpaceX sekiranya berlaku Peristiwa Angkasa Material. Dana tersebut memperoleh pendedahan melebihi aset bersihnya melalui leveraj, yang menggandakan keuntungan dan kerugian. Pulangan Dana bagi tempoh melebihi satu hari berkemungkinan berbeza, dari segi magnitud dan mungkin juga arah, daripada sasaran hariannya yang dinyatakan. Untuk tempoh melebihi satu hari, Dana akan mengalami kerugian jika prestasi Portfolio Sasarannya mendatar dan juga berkemungkinan mengalami kerugian walaupun prestasi Portfolio Sasarannya meningkat. Dana ini bertujuan untuk perlaburan jangka pendek dan tidak sesuai bagi pelabur yang tidak berhasrat untuk memantau serta mengurus portfolio mereka secara aktif.
Risiko Syarikat Baharu Tersenarai. SpaceX baharu sahaja menyelesaikan, atau sedang dalam proses menyelesaikan penawaran awam permulaannya. Hari pertama dagangan sekuriti syarikat yang baharu tersenarai lazimnya melibatkan aktiviti pasaran luar biasa dan mungkin berbeza dengan ketara daripada hari-hari dagangan berikutnya. Sebagai contoh, dagangan saham biasa SpaceX boleh dicirikan oleh volatiliti harga yang besar, pergerakan harga yang pantas, perbezaan ketara antara harga IPO dan harga pasaran pembukaan, spread bida-tawar yang luas, imbangan dagangan yang tidak stabil, kecairan terhad, pemberhentian dagangan serta gangguan pasaran lain. Keadaan ini boleh menyukarkan peserta pasaran menilai saham biasa SpaceX dan boleh menyumbang kepada turun naik yang signifikan dalam harga pasaran Saham Dana tersebut.
Risiko Khusus SpaceX. Pendedahan Dana kepada saham SpaceX akan mendedahkannya kepada risiko khusus SpaceX, termasuk status dijangka sebagai syarikat terkawal dengan kuasa mengundi tertumpu pada pengasas Elon Musk melalui saham biasa Kelas B (10 undi setiap saham), pergantungan Dana kepada perkhidmatan dan reputasi Musk, serta risiko pelaksanaan berkaitan teknologi baharu atau belum terbukti seperti program Starship, satelit generasi baharu Starlink dan inisiatif AI orbit.
Risiko Pendedahan Hari Dagangan Pertama IPO. Dana menjangkakan untuk mendapatkan pendedahan kepada prestasi saham biasa SpaceX yang diukur daripada harga pasaran pembukaan pada hari pertama dagangan di bursa. Dana tidak akan berusaha untuk memberi pendedahan kepada perbezaan antara harga tawaran IPO dan harga pasaran pembukaan saham biasa SpaceX. Tiada jaminan bahawa Dana akan dapat memperoleh, mengekalkan atau mengimbangi semula tahap pendedahan yang disasarkan kepada prestasi saham biasa SpaceX sepanjang hari pertama dagangannya.
Risiko Kekangan Kapasiti Derivatif. Oleh kerana SpaceX akan menjadi syarikat baharu tersenarai, pasaran bagi perjanjian swap, kontrak opsyen dan instrumen lain yang mungkin digunakan Dana untuk mendapatkan pendedahan leveraj mungkin terhad, tidak cair, bervolatiliti tinggi, mahal, atau tidak tersedia. Pihak lawan boleh mengenakan had pendedahan, bursa boleh mengenakan had posisi atau sekatan lain dan peserta pasaran mungkin enggan atau tidak mampu menyediakan tahap pendedahan yang disasarkan oleh Dana. Kekangan ini boleh meningkatkan ralat penjejakan, menyebabkan Dana memperoleh pulangan jauh lebih rendah daripada pendedahan leveraj harian yang disasarkan terhadap prestasi saham SpaceX, atau menghalang Dana daripada mencapai objektif pelaburannya. Risiko ini mungkin lebih ketara dalam tempoh segera selepas IPO apabila volum dagangan, keadaan kecairan, ketersediaan derivatif, kapasiti pihak lawan, penemuan harga dan volatiliti pasaran sangat tidak menentu.
Risiko Derivatif dan Tidak-Pempelbagaian. Dana ini menggunakan perjanjian swap dan/atau kontrak opsyen tersenarai untuk mendapatkan pendedahan ekonomi kepada sekuriti Portfolio Sasarannya, yang tertakluk kepada risiko pihak lawan, kecairan, penilaian, korelasi dan leveraj, serta risiko bahawa derivatif tidak akan berfungsi seperti yang dijangkakan. Dana tersebut diklasifikasikan sebagai tidak-pempelbagaian dan boleh melaburkan sebahagian besar asetnya untuk memberi pendedahan kepada satu penerbit sahaja.
Risiko Cukai. Penggunaan swap dan derivatif lain oleh Dana boleh menghasilkan pendapatan bercukai, termasuk pendapatan biasa dan keuntungan modal jangka pendek, yang lazimnya dikenakan cukai pada kadar lebih tinggi berbanding keuntungan modal jangka panjang.
Prestasi lalu tidak menjamin keputusan masa depan. Pegangan dan pendedahan Dana boleh berubah pada bila-bila masa dan tidak boleh dianggap sebagai cadangan untuk membeli atau menjual mana-mana sekuriti.
Defiance Daily 2X Space ETF diedarkan oleh Foreside Fund Services, LLC.
Perihal Defiance ETFs
Ditubuhkan pada tahun 2018, Defiance ialah penerbit ETF terkemuka yang memfokuskan kepada ETF bertema, berpendapatan dan leveraj. ETF leveraj saham tunggal yang diperkenalkan sebagai perintis oleh Defiance membolehkan pelabur mengambil posisi diperbesarkan dalam syarikat berpotensi tinggi, memberikan pendedahan leveraj yang tepat tanpa perlu membuka akaun margin.
槓桿、複合與每日重設風險。此基金力求每日投資結果，達到目標組合每日表現的 200%。該目標組合由一間或少數太空公司證券組成，因應重大太空事件，可能包括或完全為 SpaceX A 類普通股。此基金運用槓桿取得超出其資產淨值的曝險，此舉會同時放大損益。此基金於超過單一交易日期間的回報，在金額及可能的方向上，均很可能與其訂明的每日目標出現偏差。當持有期超越一個交易日，若目標投資組合表現持平，本基金將蒙受虧損；且即使目標投資組合表現上揚，本基金仍有機會虧損。本基金為短期操作而設，不適用於無意主動監察和管理投資組合的投資者。
Elon Musk's Space Exploration Technologies (SPCX +19.17%), known as SpaceX, went public on Friday, June 12. The rocket and satellite company priced its initial public offering (IPO) at $135 per share. With about 13.1 billion shares outstanding, that gave SpaceX an initial market value of nearly $1.8 trillion, making it the largest IPO in history.
Yet some Wall Street experts think SpaceX will blast past Nvidia's current market value of $4.9 trillion. CNBC's Jim Cramer says the company could quickly hit $6 trillion, and hedge fund billionaire Ron Baron says SpaceX could eventually be worth $14 trillion.
Here's what investors should know.
Image source: Getty Images.
Jim Cramer says SpaceX stock could hit $6 trillion due to mismatched supply and demand SpaceX has an unusually small float, less than 5%, which means an abnormally small portion of total shares outstanding is currently available for public trading. For context, most Nasdaq-100 stocks have floats that exceed 80%.
Meanwhile, institutional and retail investors are eager to own SpaceX shares, and recent changes to the Nasdaq-100 will make the stock eligible for inclusion in just 15 trading days. Previously, companies had to be listed for at least one year and required a float of at least 10%. But the one-year rule has been amended to 15 days for large companies, and the 10% minimum float rule has been eliminated.
This means there are very few SpaceX shares available for trading, but there is also massive demand, not only from institutional and retail investors, but also (potentially) from index funds that track the Nasdaq-100. Jim Cramer thinks that mismatch could drive SpaceX's market valuation to $6 trillion.
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Ron Baron says SpaceX stock could hit $14 trillion as orbital AI data centers drive revenue growth SpaceX is uniquely positioned to revolutionize the artificial intelligence (AI) infrastructure industry through vertical integration, enabling orbital data centers (i.e., data centers in space). No other company brings together the necessary launch capacity, satellite connectivity, and supercomputing expertise.
SpaceX's Starship system is a fully and rapidly reusable spacecraft that will reduce the cost to reach orbit by 99% compared to the historical average. SpaceX's Starlink operates the largest broadband satellite constellation, with about 10,000 satellites in low-Earth orbit and plans to expand to 1 million data center satellites. SpaceX subsidiary xAI was the first company to deploy a coherent gigawatt-scale AI training cluster, and its Colossus systems are the largest AI training clusters on Earth. Orbital data centers sound like science fiction, and the concept certainly raises questions: How fast could AI servers in space be repaired or upgraded? How would the infrastructure be protected from cosmic radiation? However, CEO Elon Musk says orbital data centers are the only practical solution to the power and cooling constraints that plague terrestrial data centers.
The total cost of operating data centers is heavily influenced by energy, cooling, and distribution requirements. In orbit, chips are expected to be powered by solar energy, which is low cost and unlimited, and we expect to leverage radiative cooling architectures, which incur no operating costs compared to liquid or air cooling.
SpaceX says it will start deploying orbital AI compute satellites as early as 2028. Billionaire Ron Barron believes that will translate into massive subscriber growth for Starlink, pushing revenue toward $1 trillion within a decade. In turn, he believes SpaceX's market value will reach $14 trillion in about 10 years.
Is SpaceX stock a buy? SpaceX is an intriguing company with grand ambitions that range from interplanetary travel to orbital data centers, but large IPOs have historically underperformed their initial valuations. In fact, since listing shares, the 10 biggest U.S. IPOs in history (by market value at the IPO price) have underperformed the S&P 500 (^GSPC +0.50%) by an average of 100 percentage points.
In other words, investors have historically been better off purchasing shares of an S&P 500 index fund rather than participating in large IPOs. Only time will tell if SpaceX falls into that category, but I think investors should avoid the stock for now. Large IPO stocks often decline during their first year on the market, and SpaceX went public at an absurdly expensive valuation of 92 times sales.
For context, Palantir Technologies currently has the highest valuation in the S&P 500 at 60 times sales. SpaceX was about 50% more expensive at its IPO price. That seems unsustainable.
But investors should keep the stock on their watch lists. More attractive buying opportunities may arise over the next 24 months.
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Miguel J. Rodriguez Carrillo / AFP After eBay acquired PayPal in 2002, the PayPal mafia went on to reshape Silicon Valley. Now, after Musk's blockbuster SpaceX IPO, employees and investors who made fortunes are expected to redeploy some of their massive windfalls into the new wave of space companies, many of them founded by the so-called SpaceX mafia.
"Many of today's leading technology investors and entrepreneurs, including Elon Musk, Peter Thiel, and David Sacks, came out of the PayPal ecosystem and went on to shape the next generation of technology companies," Justus Parmar, CEO of Fortuna Investments, a venture capital firm that invested in both SpaceX and Tesla, told Business Insider.
"A SpaceX IPO could become a similar watershed moment for the space industry."
Members of the SpaceX Mafia have raised funding from top venture capital firms such as Andreessen Horowitz, 8VC, and Founders Fund. A handful also passed through Y Combinator, Silicon Valley's famed funding and mentorship program for nascent startups.
Thousands of former SpaceX employees have been waiting for the IPO for years.
"The SpaceX IPO will trickle down to the SpaceX mafia startups in a variety of ways," Jamie Gull, a former SpaceX engineer turned deep tech investor, told Business Insider.
"The most obvious way is providing liquidity for angel investing into SpaceX peers," he said, referring to the thousands of employee millionaires the IPO has created who can soon write checks to other employees for their nascent startups.
Spencer Jackson, another former SpaceX engineer, says he is not sure going public was the right decision for SpaceX. Still, he hopes it will boost startups like the one he founded in 2024, Critical Energy, which is making modular power plants that convert heat into electricity.
"The space industry and every startup in it has benefited heavily from SpaceX's rising star, with incredible amounts of capital flowing into the space and a willingness to take big risks," Jackson told Business Insider. "That will only accelerate if the IPO goes well."
Collectively, SpaceX Mafia companies have already raised billions in venture capital funding, according to data from analytics firm PitchBook and the founders. Here's Business Insider's list of 18 startups helmed by SpaceX-employees-turned-founders, first published in December, in alphabetical order by company name.
Nikita Ermoshkin, cofounder, CEO, and CTO of Airhart Aeronautics
Nikita Ermoshkin Airhart Aeronautics Total raised: $5.06 million, according to PitchBook
Founding date: May 2022
Key investors: Y Combinator, Liquid2 Ventures, Soma Capital, and angel investors
Number of employees: 8, according to the company
Role at SpaceX: Ermoshkin was at SpaceX for three years and last served as an avionics systems responsible engineer.
Airhart Aeronautics says it is building an easy-to-fly personal airplane to "give everyone the freedom of flight."
"At SpaceX, I learned the value of extreme ownership," Ermoshkin said. "As a responsible engineer, I was expected to understand and drive every part of a project — from early design through production and launch. That experience was instrumental in preparing me to be a founder and CEO."
Max Benassi, cofounder and CTO of Apex Space
Max Benassi Apex Space Total raised: More than $500 million, according to the company
Number of employees: Over 230, according to the company
Role at SpaceX: Benassi worked at SpaceX for six years, and last served as a senior propulsion engineer for Raptor turbomachinery and dynamic balancing.
Apex mass-manufactures satellite platforms that can serve a wide range of customers.
"It was an intense training ground where we tackled the most difficult problems by breaking them into manageable parts," Benassi said of his tenure at SpaceX. "My advice to engineers: Think harder, go faster, challenge requirements, simplify first, optimize next. "
Robert Carlisle, Ryan Carlisle, and Kirby Carlisle, cofounders, Argo Space
Robert Carlisle Argo Space Total raised: Over $10 million, according to the company
Founding date: 2022
Key investors: Crosslink Capital, Boost VC, Type One Ventures, Stellar Ventures
Number of employees: 22, according to the company
Roles at SpaceX: Robert Carlisle, director of commercial launch sales and national security sales (five years); Ryan Carlisle, director of engineering (nine years); Kirby Carlisle, integration and test engineer (four years)
The Carlisle brothers cofounded Argo Space, which is working on technology that could use water from the moon to propel space transportation. "My time at SpaceX showed me real value is created not by the incremental advances most companies pursue, but by paradigm change," Robert Carlisle said. "My cofounders and I also learned firsthand the myriad benefits of aggressively and urgently getting to hardware build and operation, which we're applying at Argo."
Laura Crabtree, cofounder and CEO of Epsilon3
Laura Crabtree Josh Villbrandt Total raised: $18.92 million, according to PitchBook
Founding date: February 2021
Key investors: Lux Capital, MaC Venture Capital, Moore Capital Management, Y Combinator, Village Global, Stage Venture Partners.
Number of employees: 27, according to the company
Role at SpaceX: Crabtree was at SpaceX for nearly 11 years, last serving as a senior missions operations engineer.
Epsilon3 builds software for managing engineering, assembly, and testing, primarily in the space industry.
"At SpaceX in the early days, you were given a problem to solve, without much direction on how to solve it," she said. "That environment helped people develop a scrappy attitude and a low ego when it came to doing whatever was needed, no matter the task."
"We're also incredibly loyal," she added. "There are many people I've worked with in the past who are now using Epsilon3 at the companies they started (or joined) after SpaceX."
Karan Talati, cofounder and CEO, First Resonance
Karan Talati First Resonance Total raised: $32 million, according to the company
Founding date: 2019
Key investors: Blue Bear Capital, Craft Ventures, Third Prime, Fika Ventures
Number of employees: 45, according to the company
Role at SpaceX: Software and manufacturing engineer (three years)
Talati now runs First Resonance, a Los Angeles-based startup that makes manufacturing software for hard-tech companies building things like air taxis and nuclear reactors. Talati found that SpaceX's unique talent pool and hard-charging disposition led to results. "The mindset wasn't if something could be done, but when," he said.
Tom Mueller, founder and CEO of Impulse Space
Tom Mueller Impulse Space Total raised: $525 million, according to the company
Founding date: 2021
Key investors: Linse Capital, DFJ Growth, Valor Equity Partners, Founders Fund, Lux Capital, RTX Ventures, DCVC, Airbus Ventures, Spring Tide, First Principles Group, Balerion Space Ventures, Tamarack Global, Trousdale Ventures.
Number of employees: More than 350, according to the company
Role at SpaceX: Mueller was at SpaceX for nearly 19 years and last served as propulsion CTO.
Impulse Space builds spacecraft that move satellites and other cargo between different orbits.
SpaceX paved the way for many innovations in the space industry today, Mueller said. Among the lessons he learned: "the importance of building a great team and the value of an optimistic mindset — being willing to push beyond what people think is possible is the best way to break new ground and advance the industry."
Neel Kunjur, cofounder and CTO of K2 Space
Karan Kunjur and Neel Kunjur (right) K2 Space Total raised: $450 million, according to the company
Founding date: June 2022
Key investors: Altimeter Capital, Lightspeed Venture Partners, First Round, Alpine Space Ventures, Redpoint, T. Rowe Price
Number of employees: 200, according to the company
Role at SpaceX: Neel Kunjur worked at SpaceX for about 5 ½ years, mostly recently as a senior avionics systems engineer for Dragon 2.
K2 Space builds large satellites that can operate across multiple orbits. Neel Kunjur cofounded the company with his brother, Karan.
"In many ways, SpaceX was an 'engineering bootcamp' where I was able to rapidly take on more responsibility than I ever thought possible," Neel Kunjur said. "That level of ownership translates well to being a founder, and the exposure to extremely high-caliber engineers helps with building talented teams."
Josh Clemente, cofounder and CEO of Levels
Josh Clemente Levels Total raised: $57 million, according to the company
Founding date: 2019
Key investors: a16z, Trust Ventures, Shrug.
Number of employees: 42, according to the company
Role at SpaceX: Clemente worked at the company for about 5 ½ years as a lead life support systems engineer.
Levels lets users track their metabolic health with real-time glucose monitoring, labs, and personalized coaching.
SpaceX ingrained a mindset of accountability, said Clemente. "The zero-jargon environment encouraged clarity of thought and communication, so people at every layer can follow context and contribute."
Harry O'Hanley, founder, chairman, and president of Long Wall
Harry O'Hanley Long Wall Total raised: $500 million, according to the company
Founding date: 2017
Key investors: Venrock, Lockheed Martin, Lynett Capital, T. Rowe Price, Fidelity, and others.
Number of employees: About 75, according to the company
Role at SpaceX: O'Hanley was at SpaceX for about four years and last served as manager of Falcon 9 integration and test.
Long Wall builds missile defense systems. The company started out as ABL, and was focused on commercial launch before pivoting to missile defense in 2024, O'Hanley said.
"The takeaway I appreciate most from SpaceX was learning to be a live player and quickly take on large challenges I'd never seen before," he said. "By constantly being put in this position, you develop a framework, intuition, and disposition to do so confidently. Building a company is exactly this — continuous novel challenges that you can't always anticipate."
Jonny Dyer, cofounder and CEO of Muon Space
Jonny Dyer Muon Space, Inc. Total equity raised: $136.2 million, according to the company
Number of employees: Around 200, according to the company
Role at SpaceX: Dyer was an engineering intern at SpaceX in the early 2000s.
Muon Space builds satellite fleets to collect and deliver data about the Earth, including climate and security data.
"When I was there in the super early days (2003, 2004) it really was existential for the company and we didn't know if we'd make it," Dyer said of his time at SpaceX. He added that the team was "executing violently to try and make it."
"As a founder, you're constantly context-switching, whether it's hardware, software, team dynamics," he continued, "and SpaceX helped train me to be fluent in all of it."
Troy Astorino, cofounder and CTO of PicnicHealth
Troy Astorino Lukas Schulze/Sportsfile for Web Summit via Getty Images Total raised: More than $100 million, according to the company
Founding date: 2014
Key investors: Amplify, Felicis, B Capital, Y Combinator.
Number of employees: About 100, according to the company
Role at SpaceX: Astorino was at SpaceX for about five months, working as a software engineer on guidance, navigation, and control.
PicnicHealth centralizes medical records, helping patients manage their care and also providing life-science companies with anonymized data for research.
"It's hard to pinpoint exactly what makes [SpaceX] uniquely successful — rapid build-test cycles, first-principles thinking, relentless efficiency, and obsessive focus come to mind," Astorino said. "It's a north star for how I think about PicnicHealth. Healthcare is notoriously hard to change, but so is getting to space."
Nathan Silvernail, cofounder and CEO, and Huade Tan, cofounder and CTO, Plantd
Nathan Silvernail Plantd Total raised: $42 million, according to the company
Founding date: 2021
Key investors: American Family Ventures
Number of employees: 70, according to the company
Role at SpaceX: Silvernail, engineering manager for crew and Cargo Dragon (seven years); Tan, senior life support systems engineer (five years, 10 months)
Plantd is a startup in North Carolina that turns perennial grasses into building materials that the company says are carbon-negative and rival traditional plywood.
"SpaceX was basically when school really started," Silvernail said. "In university, you really only get to learn fundamentals with some hands-on stuff that you do in your free time. SpaceX gave me the opportunity to focus on developing my engineering skills while getting a massive amount of responsibility right off the bat."
Sunghyun Park, cofounder and CEO of Rebellions
Sunghyun Park Photo courtesy of Rebellions Inc. Total raised: About $460 million, according to the company
Founding date: September 2020
Key investors: Arm, Samsung, Kindred Ventures, Top Tier Capital Partners, Saudi Aramco (via Wa'ed Ventures), SK Hynix, SK Telecom, Pavilion Capital, Korea Telecom, and others.
Number of employees: More than 270, according to the company
Role at SpaceX: Park worked at SpaceX for over a year as a Starlink ASIC design engineer.
Rebellions makes energy-efficient chips and software to run AI systems.
"At SpaceX, I learned the value of being uncompromising when it comes to engineering excellence and ambition," Park said, adding that "we believe real progress starts with those willing to take on what others avoid."
Robert Rose and Juerg Frefel, CEO and CTO, Reliable Robotics
Robert Rose Reliable Robotics Total raised: $134 million, according to the company
Number of employees: 150, according to the company
Role at SpaceX: Rose, director of flight software (5½ years); Frefel, senior hardware development manager (about 9½ years)
Reliable Robotics makes software that automates aircraft flight, from taxi and takeoff to landing. Rose says his experiences working on government certification processes at SpaceX and Tesla taught him to operate in highly regulated industries.
"Reporting directly to Elon," he said, "taught me a lot about business and management, but it really was my extended time spent navigating a complex government bureaucracy (and enjoying it) that uniquely qualified me for starting Reliable."
Ryan Westerdahl, cofounder and CEO, Turion Space
Ryan Westerdahl Turion Space Total raised: $57 million, according to the company
Founding date: 2020
Key investors: Washington Harbour Partners, Giant Step Capital, Forward Deployed Venture Capital, Veterans Ventures, Aurelia Foundry, Y Combinator
Number of employees: 125, according to the company
Role at SpaceX: Dynamics engineer (eight years)
Turion Space makes micro-satellites with seniors to monitor objects in space. The company has been awarded a $15 million contract from the US Space Force. At SpaceX, Westerdahl learned to "be like water, learn fast, operate hardcore — and to keep going."
Will Bruey, cofounder and CEO of Varda Space Industries
Will Bruey Courtesy of Varda Space Industries Total raised: $329 million, according to the company
Number of employees: More than 170, according to the company
Role at SpaceX: Bruey worked at SpaceX for almost five years, and last served as a spacecraft operator and systems officer.
Varda is a space manufacturing company that takes advantage of the benefits of microgravity to process materials in orbit — including pharmaceuticals and fiber optic cables — then brings them back to Earth.
"It is helpful to think of your company as a living organism," Bruey advised other aspiring founders, adding that "you don't control every aspect of its nature or environment, and it needs the nurture and guidance to be healthy, happy, and effective."
Robert Pinkerton, cofounder and CTO, Vori
Robert Pinkerton Vori Total raised: $27.9 million, according to the company
Founding date: 2019
Key investors: Greylock, South Park Commons, YCombinator
Number of employees: 55, according to the company
Role at SpaceX: Vehicle systems engineer (one year)
Vori makes software that manages analytics for small- and mid-sized supermarkets.
Launching the demo of the Falcon Heavy rocket and deploying 21 satellites at SpaceX taught Pinkerton "what a focused, mission-driven team can achieve when the bar is set extremely high," he said.
Brian Manning, cofounder and CEO, Xona Space Systems
Xona Space Systems Total raised: Over $150 million, according to the company
Founding date: 2019
Key investors: Craft Ventures, Future Ventures, Trimble, Toyota Ventures
Number of employees: 69, according to PitchBook
Role at SpaceX: Responsible engineer, thrust structure (two years)
Xona Space Systems makes hyper-precise satellite navigation software. In June, the company raised $92 million in a Series B round led by Craft Ventures.
SpaceX challenges commonly-held assumptions that limit progress, Manning said. "That mindset stuck with me. The most impactful companies are able to take things that seem impossible and change the world's perception to believing it is not only possible but inevitable."
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Geoff Weiss You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
Geoff Weiss is a senior reporter on Business Insider’s tech team, where he writes about AI startups and Y Combinator, the intersection of AI and the media industry, and workplace dynamics within top AI labs and chip companies.Previously, Geoff was on the media desk, covering YouTube and Netflix, and themes like the intersection of Hollywood and the creator economy. His work on Netflix’s video podcasting ambitions and Mr Beast’s lessons for Hollywood won second and first prize, respectively, at the 2025 LA Press Club Awards.Prior to joining Business Insider, Geoff was the senior editor of Tubefilter and a staff writer at Entrepreneur. He graduated from New York University with a degree in English Literature.He can be reached at [email protected], on Signal @geoffweiss.25, and on LinkedIn. Have a tip? Use a personal email address and a nonwork device; here's our guide to sharing information securely.Selected stories:Nvidia crushed its quarter — and CEO Jensen Huang said in a leaked all-hands that 'the market did not appreciate it'Nvidia will foot the bill for Trump's new visa fees. Here's what CEO Jensen Huang told staff.Massive AI salaries and RTO are fueling a real estate boom in San Francisco: 'It's going to rain money'The AI talent wars are ricocheting across startups. Here's how they're competing with Big Tech.
Ben Bergman You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
I'm a senior correspondent at Business Insider, where I investigate the tech industry with a focus on venture capital and startups.I can frequently be seen on CNN, NBC News, CBS News, and other channels providing analysis on a range of business and economic topics. I also appear at dozens of the biggest events around the world, including the World Economic Forum, HumanX, and Web Summit.Please get in touch if you have a story to tell securely on Signal. Here are some examples of stories I've written:
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SpaceX's valuation has grown exponentially since its 2002 founding. Gina Ferazzi / Los Angeles Times via Getty Images Nearly 25 years ago, a mariachi band played at a SpaceX party while Elon Musk posed for a photo. The rocket company's head count was single digits back then. Today, it's over 22,000.
SpaceX started with two long-shot goals: make rockets cheaper to launch and, eventually, send mankind to Mars.
More than two decades later, Elon Musk's space company has decisively accomplished the first, and went public on Friday at a historic $1.8 trillion valuation. The trading milestone followed years of fiery explosions, reusable-rocket breakthroughs, astronaut flights, and the rise of Starlink, its golden goose satellite-internet business.
From the scrappy startup days to fiery launches (and plenty of explosions) and catching a returning rocket in giant mechanical pincers, these photos and videos show SpaceX's rise to IPO juggernaut.
2002: SpaceX is bornUsing part of the fortune he made from PayPal, Musk founded SpaceX in 2002 in an El Segundo, California, warehouse. The company sought to challenge entrenched players in the rocket industry — including Lockheed Martin and Boeing — and make space travel less expensive.
Those dreams had a meager beginning.
"SpaceX was less than 10 people back then," Musk wrote on X. "We didn't even have office furniture."
2002-2006: building the Falcon 1
Musk leans on a Falcon 1 rocket during an interview in 2004. Paul Harris/Getty Images SpaceX developed its first space-bound rocket, the Falcon 1, between 2002 and 2006. It cost about $100 million for the company to design and build.
2003: A Washington DC displaySpaceX trucked its first Falcon rocket across the country and displayed it outside the National Air and Space Museum in Washington, DC, in December 2003.
The rocket display on Independence Avenue was one of the first stunts that introduced the fledgling startup to federal lawmakers.
2006-2008: The first three launches fail
SpaceX's first three attempts to launch the Falcon 1 rocket failed. Roberto Gonzalez/Getty Images The Falcon rocket's maiden voyage in March 2006 ended in failure because a fuel-line leak caused an engine fire. The ill-fated flight lasted around one minute.
The Falcon's next two attempts also failed at liftoff, pushing the company to the brink of collapse.
2008: First successful Falcon launch
Falcon 1's first successful launch happened on Omelek Island in 2008. Axel Koester/Corbis via Getty Images On September 28, 2008, Falcon 1 became the first privately developed liquid-fueled rocket to reach orbit. SpaceX flew Falcon 1 once more, successfully launching RazakSAT on July 14, 2009, its final Falcon 1 mission.
My video from the Hawthorne office of the final Falcon 1 launch (first ever success with deployment). This is one of those startup moments you never forget, and why you get into tech in the first place. 7/13/09. pic.twitter.com/nhQWelLdOQ
— Brian Singerman (@briansin) June 12, 2026 2010: Falcon 9 and Dragon
Onlookers take pictures as the Falcon 9 lifts off. Matt Stroshane/Getty Images SpaceX followed Falcon 1 with the much larger Falcon 9 rocket and Dragon, a spacecraft developed first to carry cargo to orbit and later adapted to carry astronauts.
2012: Dragon reaches ISS
The SpaceX Dragon successfully docked with the ISS. Michael Paulsen/Houston Chronicle via Getty Images SpaceX's Dragon spacecraft reached the International Space Station on May 25, 2012, becoming the first commercial spacecraft to rendezvous with and berth at the orbiting laboratory.
2015: First successful landing of a Falcon 9 after an orbital launch
SpaceX landed a Falcon 9 first-stage booster at Cape Canaveral in December 2015 after launching satellites to orbit.
2016: Falcon 9 explosion
A Falcon 9 rocket exploded on a Florida launchpad during a preflight test in September 2016, when methane propellant was ignited. The blast destroyed the rocket and its payload, including satellites from Facebook.
2016: First successful drone ship landing
In April 2016, SpaceX landed a Falcon 9 booster on an ocean drone ship for the first time. NASA via Getty Images SpaceX had already proven it could land a Falcon 9 booster back on solid ground. In April 2016, it pulled off a harder trick: landing one on a floating platform in the Atlantic Ocean after launching a Dragon cargo spacecraft toward the International Space Station.
The landing on the drone ship Of Course I Still Love You showed SpaceX could recover boosters, even on missions where the rocket did not have enough fuel left to return to land.
2018: Falcon Heavy and Starman
Elon Musk sent his Tesla Roadster to space on a SpaceX Falcon Heavy rocket in 2018. SpaceX via Getty Images The Falcon Heavy rocket tugged a Tesla Roadster carrying a driver-side mannequin nicknamed "Starman" (named after the David Bowie song) into space.
The cherry-red 2010 Roadster was once Musk's daily driver before it was launched out of Earth's atmosphere.
2019: Starlink satellite launch
SpaceX launched the first large batch of Starlink satellites in 2019, beginning the buildout of a satellite-internet network that later became one of the company's core businesses. George Rose/Getty Images SpaceX launched its first large batch of Starlink satellites in May 2019, sending 60 internet-beaming spacecraft into orbit aboard a Falcon 9 rocket.
2019: Starship reveal
SpaceX revealed the Starship vehicle design in 2019. SpaceX In September 2019, Musk first revealed a towering stainless-steel Starship prototype in Boca Chica, Texas. Starship, paired with its Super Heavy booster, was designed to be a fully reusable transportation system.
SpaceX hopes the vehicle is capable of carrying people and cargo to orbit, the moon, Mars, and beyond.
2020: First crewed launch
Doug Hurley (left) and Bob Behnken (right) were the first two humans to crew a SpaceX flight. Joe Raedle/Getty Images SpaceX hurled NASA astronauts Bob Behnken and Doug Hurley to the International Space Station in May 2020, marking the first time the company had sent people to orbit.
The Demo-2 mission also restored NASA's ability to launch astronauts from US soil for the first time since the space shuttle retired in 2011.
2021: First private SpaceX customers go to space
Inspiration4 crew member Sian Proctor waves to a crowd from inside a Tesla Model Z. She joined Jared Isaacman, Hayley Arceneaux, and Chris Sembroski on board SpaceX's first civilian flight to space. Joe Raedle/Getty Images In September 2021, SpaceX launched Inspiration4, a three-day orbital mission crewed entirely by private citizens. Billionaire Jared Isaacman (now the NASA administrator) commanded the flight, joined by Sian Proctor, Hayley Arceneaux, and Chris Sembroski aboard a Crew Dragon capsule.
The mission circled Earth. You can watch their journey in the Netflix documentary "Countdown: Inspiration4 Mission to Space."
2024: Move to Texas
Musk said in 2024 that SpaceX would move its headquarters from Hawthorne, California, to Starbase, Texas. Reginald Mathalone/NurPhoto via Getty Images Musk, increasingly frustrated with California politics, moved his rocket company to Texas in 2024.
The announcement underscored how central South Texas had become to SpaceX's future. What began as a remote testing ground for Starship had grown into the company's main hub, with launch towers, production facilities, and a rapidly expanding local footprint.
2024: Starship booster catch
SpaceX made history by returning the Heavy Booster to its launch site. It was caught by a series of metal arms called "chopsticks." SpaceX/Getty Images In one of SpaceX's most audacious moves yet, the company caught a returning Super Heavy booster with the launch tower's mechanical arms for the first time in October 2024.
Seriously, watch the video for this moment — it's worth it.
BREAKING: SpaceX just successfully caught its Starship Super Heavy rocket booster in mid-air for the third time!
They parallel parked a building! pic.twitter.com/TyhTS9p6td
In February 2026, SpaceX acquired Musk's AI startup xAI, tying the rocket company more closely to another piece of Musk's business empire. credit should read CFOTO/Future Publishing via Getty Images Earlier this year, SpaceX acquired xAI, Musk's artificial-intelligence startup. The move folded several major pieces of his business empire — also including X, formerly known as Twitter — into the rocket company.
May 2026: Starship's first V3 test flight
Starship V3, the world's most powerful rocket, took off from Texas. Brandon Bell/Getty Images SpaceX launched Starship Flight 12, the upgraded version of its Starship spacecraft and Super Heavy booster, from Starbase, Texas, on May 22, 2026. The test marked the first test flight of the company's V3 vehicles and Raptor 3 engines. SpaceX describes Starship as the world's most powerful launch vehicle ever developed.
The flight showed SpaceX was continuing to push toward a fully reusable giant rocket system. The Starship upper stage reached space and completed a controlled splashdown in the Indian Ocean.
Still, the flight had problems. The Federal Aviation Administration required SpaceX to conduct a mishap investigation after an issue involving the Super Heavy booster during its return over the Gulf of Mexico after stage separation. A return to flight depends on the FAA determining that any system, process, or procedure related to the mishap does not affect public safety. The FAA said there were no reports of public injury or damage to public property.
June 2026: SpaceX IPO
SpaceX went public on June 12, 2026. Brendan McDermid/Reuters The once-nearly bankrupt SpaceX hit the public market with a valuation of $1.8 trillion.
"It is certainly hard to believe that a little company that started in a warehouse in El Segundo is now going public with the largest IPO ever," he said during a speech on Friday. "If people had told me this was going to happen, I was like, 'Man, you must be smoking some really good crack, because I think this company is going to fail.'"
He said he gave SpaceX a less than 10% chance of succeeding.
“It is certainly hard to believe that a little company that started in a warehouse in El Segundo is now going public with the largest IPO ever.”
Only in America. Congratulations to @elonmusk @SpaceX. This is the American Dream 🇺🇸💪🚀 pic.twitter.com/YFytt6Ajtk
— Katherine Boyle (@KTmBoyle) June 12, 2026
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Ben Shimkus You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
Ben Shimkus is a reporter for the Business News desk. He writes about cars, transportation, retail, and jobs. Ben's reporting has appeared in Rolling Stone, The Verge, Automotive News, USA Today, AutoBody News, LGBTQ Nation, TopSpeed, and Out Magazine. He's also held staff writing positions at The U.S. Sun and the Daily Mail. He graduated from NYU with a Master's in journalism in 2024. Email Ben at [email protected] or message him privately on Signal at bshimkus.41.
ToplineThe investment case for the SpaceX potentially extends far beyond rockets. Although the company is best known for its Falcon 9 orbital and Starship experimental heavy-lift reusable rockets, its Starlink megaconstellation already numbers more than 10,000 satellites, while future plans could include orbital AI data centers and even space-based solar power systems. Yet if those ambitions are realized, they could trigger one of the biggest changes ever made to humanity’s view of the heavens — as well as to astronomy, navigation, migration, feeding and reproduction across hundreds of species, according to Dark Sky.
The satellite-filled sky that is now a reality — and getting more crowded every week! (Photo by: Alan Dyer/VWPics/Universal Images Group via Getty Images)
VWPics/Universal Images Group via Getty Images
Key FactsSpaceX currently operates more than 10,000 active Starlink satellites, roughly two-thirds of all working satellites in orbit. Amazon Leo, its competitor, has 300 satellites in orbit and plans to launch 3,200, according to Space.com.
In January, SpaceX filed documents asking the Federal Communications Commission for permission to launch one million satellites to create a megaconstellation of orbital data centers to meet the demand for AI computing power.
Research has found that satellites and other orbiting objects could increase the overall brightness of the night sky by more than 10% above natural levels. That means each image taken by a billion-dollar professional telescope would lose 10% of data due to satellite trails, an issue identified by reports from the U.S. National Science Foundation and the United Nations Office for Outer Space Affairs.
The Night Sky Is Becoming More CrowdedWhen SpaceX launched the first Starlink satellites in 2019, astronomers raised concerns about bright streaks crossing telescope images. Since then, the constellation has grown into the largest satellite network ever deployed. Today, SpaceX operates more than 10,000 Starlink satellites, accounting for roughly two-thirds of all active spacecraft orbiting Earth. The company plans to expand it to around 34,400 satellites. For investors, that growth demonstrates the success of Starlink as a global communications network serving more than 10 million customers. For astronomers, it marks the beginning of a new era in which commercial infrastructure increasingly occupies the night sky.
From Broadband To Orbital InfrastructureThe investment case for SpaceX increasingly depends on what comes after Starlink. Supporters argue that Starship — which successfully completed its 12th flight on May 22 after being grounded for seven months — could dramatically reduce the cost of reaching orbit, making entirely new industries possible. Among the concepts now being discussed are orbital data centers designed to support artificial intelligence and large-scale space-based power systems.
Earlier this year, SpaceX sought permission to deploy a constellation that could eventually support orbital AI computing infrastructure on an unprecedented scale. SpaceX filed documents asking the Federal Communications Commission for permission to launch a million satellites to create a solar-powered AI data center, something also being considered by Google, Axiom Space and Starcloud. Satellites look set to change from being communications tools to infrastructure. Separately, Reflect Orbital revealed plans to reflect solar rays to Earth at night using 50,000 mirrors.
This long-exposure image shows a trail of a group of SpaceX's Starlink satellites passing over Uruguay as seen from the countryside some 185 km north of Montevideo near Capilla del Sauce, Florida Department, on February 7, 2021. (Photo by MARIANA SUAREZ/AFP via Getty Images)
AFP via Getty Images
Why Astronomers Are AlarmedIn March, the U.K.’s Royal Astronomical Society warned that SpaceX’s orbital data center plans and the Reflect Orbital concept could have profound consequences for astronomy.
According to the society, brightness estimates suggest that thousands of satellites could become visible to the naked eye, outnumbering the stars visible from many locations on Earth. The group also warned that observations with major facilities could lose significant amounts of scientific data because of satellite trails.
However, it’s radio astronomy that will suffer the most. Radio observatories designed to detect extremely faint signals from deep space now have to cope with interference from large satellite constellations.
Reflect Orbital’s plans also alarmed the Royal Astronomical Society, which said each beam could be four times brighter than the full moon, with the overall system potentially making the night sky three to four times brighter.
A New Kind Of Light PollutionFor most of human history, the stars were among the few truly universal sights on Earth. The spread of electric lighting in the twentieth century dramatically reduced access to dark skies, but its effects remained largely local.
Orbital infrastructure is different. Since satellites operate above national borders, their effects are potentially global. Unlike ground-based light pollution, they cannot be avoided simply by moving to a darker location. Dark skies will go extinct.
“These proposals would not only have a disastrous impact on the science of astronomy, they would also hinder the right of everybody on Earth to enjoy the night sky. That is unacceptable,” said Dr. Robert Massey, Deputy Executive Director of the Royal Astronomical Society. “The stars above us are a valued part of human heritage – deploying more than one million exceptionally bright satellites would utterly destroy this and permanently scar the natural landscape.”
Further ReadingForbesInside SpaceX’s Orbital Economy: AI Data Centers And Wireless PowerBy Jamie CarterForbesSpaceX IPO Is A $1.77 Trillion Bet On An Orbital EconomyBy Jamie CarterForbesWhy Is SpaceX Launching History’s Biggest Rocket During A Fuel Crisis?By Jamie CarterForbesNASA Changes Moon Plan: Landing Now Depends On SpaceX Or Blue OriginBy Jamie CarterForbesSpaceX Space Junk Could Crash Into The Moon In August, Scientist SaysBy Jamie CarterForbesNASA Picks Bezos’ Blue Origin Over SpaceX For Key Moon Base MissionBy Jamie Carter
SummaryCompaniesMarkets love nifty labels, lately focusing on the Magnificent 7 tech stocksThe rise of SpaceX and a pair of upcoming AI IPOs could prompt a changeInvestors and analysts say shorthand is valuable as a gauge of market leadershipJune 13 (Reuters) - SpaceX (SPCX.O), opens new tab roared into markets this past week with a valuation of more than $2 trillion, surpassing two members of Wall Street's "Magnificent Seven" and raising a key question: Does the Mag 7 name still fit? And if not, what should replace it?
The IPO, the biggest in U.S. history, vaulted SpaceX's value above two Mag 7 members: CEO Elon Musk's other company, Tesla (TSLA.O), opens new tab, and Meta Platforms (META.O), opens new tab. With trillion-dollar contenders such as OpenAI and Anthropic waiting in the IPO wings, the club may soon need a name change, analysts said.
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With SpaceX's arrival, "it becomes very hard to keep using Mag 7 as the clean shorthand for market leadership because one of the most important companies in the world would immediately be outside the label," said Shay Boloor, chief market strategist at Futurum Equities.
These groupings are not formal market categories, but shorthand labels coined by strategists, investors and the media to capture the hottest big stocks at a given moment. Such monikers have a long history, ranging from the "Nifty 50" of the 1960s and 1970s to the "Four Horsemen" of the late 1990s dot-com boom.
The SpaceX IPO has set off a race to devise the next cool acronym.
One sobriquet gaining traction on X is "MANGOS", which stands for Meta, Anthropic, Nvidia (NVDA.O), opens new tab, Alphabet (GOOGL.O), opens new tab, OpenAI and SpaceX. That grouping is far from standardized, with some interpreting the "A" as Apple (AAPL.O), opens new tab, currently the third most-valuable U.S.-listed firm.
"We are already referring to it internally and the industry is picking up on it as well," said Aga Kuplinska, SVP of product development at Tidal Financial Group, which helps asset managers roll out ETFs.
Dan Boardman-Weston, CEO at BRI Wealth Management, is going another way, suggesting "Magna Atoms" - the Magnificent Seven plus SpaceX, OpenAI and Anthropic.
A line chart with the title 'The Magnificent Seven versus the market'THE MAGNIFICENT SEVEN RIDEThe "Magnificent Seven" term was coined by BofA Global Research Chief Investment Strategist Michael Hartnett in late 2023 to describe seven heavyweight technology-related stocks: Nvidia, Apple, Amazon (AMZN.O), opens new tab, Alphabet, Meta, Tesla and Microsoft (MSFT.O), opens new tab.
With an AI boom driving stock markets to record highs and the sudden appearance of new trillion-dollar companies, the leaderboard is often in a state of flux.
In a May 22 note, BofA wrote about the "AI Big 10," adding Broadcom (AVGO.O), opens new tab, Micron Technology (MU.O), opens new tab and Advanced Micro Devices (AMD.O), opens new tab to the original seven, reflecting the semiconductor rally of the past year. That group accounts for more than 40% of the S&P 500's weight, according to LSEG data.
The labels have evolved before - from FANG to FAANG to the Magnificent Seven - each tracking shifts in companies that led the market.
FANG covered Facebook, Amazon, Netflix (NFLX.O), opens new tab and Google. FAANG added Apple, and Magnificent Seven dropped Netflix while adding Microsoft, Nvidia and Tesla, each shift reflecting changes at the top of the market.
"It's been Mag 7 for several years now. Maybe the markets are excited for something new," said Dustin Thackeray, chief investment officer at Crewe Advisors.
To be sure, not everyone expects the old label to ride off into the sunset.
"The Magnificent Seven label is not going away," said Dave Mazza, CEO of Roundhill Investments. "It is too embedded in how investors and the media view large-cap tech leadership. What you will likely see is additive terminology rather than replacement."
Reporting by Shashwat Chauhan, Purvi Agarwal, Twesha Dikshit and Niket Nishant in Bengaluru; Editing by Sweta Singh, Colin Barr, Saumyadeb Chakrabarty and David Gaffen
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Macro economist Henrik Zeberg has warned that SpaceX’s (NASDAQ: SPCX) valuation following its record-breaking IPO has reached levels comparable to the peak of the Dot-com bubble.
The warning comes after SpaceX completed the largest initial public offering (IPO) in history, raising $75 billion by pricing shares at $135. The stock opened at $150, pushing the company’s market capitalization above $1.77 trillion and reportedly nearing or surpassing $2 trillion during early trading.
At the close of markets on Friday, SPCX was trading at $160, up almost 20% for the day
SpaceX stock price chart. Source: Google Finance According to Zeberg’s analysis, shared in an X post on June 13, SpaceX is trading at approximately 119 times projected 2026 sales, surpassing the peak valuation multiple reached by Yahoo during the dot-com boom in 2000.
The comparison centers on the price-to-sales ratio, a metric used to measure how much investors are willing to pay for each dollar of revenue.
Zeberg’s analysis shows SpaceX trading at roughly 119 times estimated 2026 sales, slightly above Yahoo’s peak multiple of about 118 times sales before the dot-com bubble burst.
SpaceX stretched compared to peers The analysis also highlights how far SpaceX’s valuation has stretched relative to other technology companies. Palantir Technologies (NASDAQ: PLTR) trades at about 63 times sales, while Nvidia (NASDAQ: NVDA) trades at roughly 20 times sales, making SpaceX the most highly valued company in the group on a price-to-sales basis.
The SpaceX IPO marks a dramatic increase in valuation for the aerospace and satellite communications company. Before going public, SpaceX’s private-market valuation had already climbed from approximately $350 billion in late 2024 to significantly higher levels through subsequent funding rounds.
The company’s rapid rise has been driven by continued growth in its reusable rocket business, the Starlink satellite internet network, and expansion into related technologies.
The Dot-com bubble of the late 1990s was marked by investors assigning extreme valuations to high-growth technology companies based on future growth expectations rather than traditional financial metrics.
Many internet firms reached unsustainable price-to-sales and price-to-earnings ratios before the bubble burst, resulting in steep declines in market value. Several prominent companies lost more than 90% of their valuations during the subsequent crash.
Zeberg argued that SpaceX’s current valuation reflects a similar level of investor enthusiasm. Although the company has generated substantial business growth and trailing revenue of approximately $18 billion to $19 billion, its current market capitalization implies exceptionally high expectations for future expansion.
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SpaceX SPCX has hit the market, but the buzz around it continues to remain with another question that is increasingly capturing Wall Street's attention: could Elon Musk eventually merge his rocket company with Tesla?
The idea, once considered far-fetched, has gained traction among analysts, investors and even employees close to Musk's businesses.
In the run-up to the IPO, speculation had intensified that Musk may seek to bring two of his flagship companies under a single corporate structure.
According to a CNBC report, Musk has discussed the possibility of combining Tesla and SpaceX with colleagues, according to people familiar with the matter.
One current Tesla employee told CNBC that many workers have long expected such a transaction to occur eventually, while another person close to the company said shared challenges around computing power and energy infrastructure have increased collaboration between the businesses.
The rationale behind merger speculation stems largely from the growing overlap between Musk's businesses.
The companies already maintain extensive commercial relationships.
SpaceX disclosed in its IPO filing that it purchased $697 million worth of Tesla Megapack battery storage systems during 2024 and 2025 to support xAI-operated data centres in Memphis.
The company also spent approximately $131 million on Tesla Cybertrucks in 2025.
Earlier collaborations included Tesla supplying solar equipment and automotive components to SpaceX, while SpaceX helped develop specialised materials used in Tesla's Cybertruck.
AI could also become the strongest force pulling the companies together.
Tesla's autonomous driving systems, robotaxi platform, and Optimus humanoid robot initiative are all heavily dependent on AI.
SpaceX, meanwhile, is pursuing AI-driven projects ranging from Starlink connectivity services to proposed orbital data centres.
Wedbush analyst Dan Ives believes these overlapping ambitions could eventually culminate in a merger.
“Step by step the holy grail could be combining SpaceX and Tesla in some way to give the connected tissue between both disruptive tech stalwarts looking to lead the AI Revolution,” Ives wrote.
Analysts point to multiple areas of potential integration.
Tesla's robotaxis could eventually rely on Starlink connectivity, while AI systems developed through xAI could serve as conversational interfaces for Tesla's vehicles and Optimus robots.
The two companies are also expected to collaborate on Terafab, a proposed semiconductor manufacturing facility in Texas involving Tesla, SpaceX, and Intel.
Both companies require vast amounts of computing power to support autonomous driving, robotics, and AI infrastructure projects.
Beyond operational synergies, financing requirements could also encourage a combination.
SpaceX's IPO filing revealed that the company spent more than $10 billion on capital expenditures during the first quarter of 2026 alone, resulting in approximately $9 billion of negative free cash flow.
The company is investing aggressively in Starship development, AI infrastructure, data centres, and other large-scale projects.
Tesla is facing its own spending surge.
The electric vehicle maker recently indicated that capital expenditures could exceed $25 billion this year as it ramps up investments in artificial intelligence, robotics, and autonomous transportation.
Some analysts believe combining balance sheets could help support those ambitions.
Tesla currently holds roughly $45 billion in cash, potentially providing additional financial flexibility for SpaceX's long-term projects.
Reuters columnist Robert Cyran argued that a merger could also simplify questions about Musk's allocation of time and resources.
“Pooling the companies would also superficially eliminate the awkward question of which corporate child Musk favors,” he wrote.
"Investors pay a huge premium for the billionaire’s science-fiction imagination. Tesla trades at 200 times estimated earnings, according to LSEG, while SpaceX's proposed valuation is even more eye-popping. Yet Musk only has 24 hours in a day – or less, when accounting for his prolific tweeting – and questions over where he’s spending have raised investor hackles," he said.
Morningstar analysts see similar strategic logic in a combination.
“The most important additional reason a merger makes sense is that Tesla and SpaceX CEO Elon Musk wants to consolidate his companies into one conglomerate,” they wrote.
“This would allow him to run all their operations under one roof without tripping on as many governance issues."
Despite growing speculation, several analysts remain skeptical that a merger is imminent.
Oppenheimer, which recently initiated coverage of SpaceX with an Outperform rating and a $190 price target, acknowledged that a future merger is possible but stopped short of endorsing the idea.
An eventual merger with Tesla is “plausible”, analyst Timothy Horan wrote, but he believes both companies are likely to remain separate public entities.
Oppenheimer argued that maintaining two publicly traded companies provides Musk with greater access to capital markets.
The brokerage said Musk's “longer-term vision of AI is best served by diversified, flexible access to capital” and that “having two public currencies supports that strategy most effectively.”
A merger between SpaceX and Tesla would be unprecedented in scale, potentially becoming the largest corporate merger in history.
With SpaceX closing at $161 on its first session, putting it at a valuation of roughly $2.1 trillion and Tesla currently valued at around $1.65 trillion, the two companies are almost of similar size.
According to Fortune columnist Shawn Tully, the most likely structure would involve SpaceX acting as the acquirer.
To complete such a transaction, SpaceX would need to issue new shares equivalent to roughly 94% of its existing share count, reflecting the relative valuations of the two companies.
Based on SpaceX's IPO filing, its share count could rise from about 4.1 billion shares to nearly 8 billion shares.
If the deal were completed near SpaceX's anticipated IPO valuation, the combined company would command a market capitalization of approximately $3.7 trillion.
Despite its strategic appeal, a merger would face significant financial and governance hurdles.
While a combined valuation of $3.7 trillion would be extraordinary, the merged company would not necessarily be highly profitable.
Based on recent financial results, the combined profits generated by the two companies would remain negative.
Both Tesla and SpaceX are pursuing capital-intensive growth strategies that require enormous investments.
SpaceX's IPO filing indicates it may need to raise additional capital through stock issuance and debt financing to fund projects such as Starship development, AI infrastructure, and orbital data centers.
Tesla is simultaneously ramping up spending on AI, robotics, and autonomous driving initiatives.
Critics argue that merging the two balance sheets would compound rather than solve these funding challenges.
According to David Trainer, CEO of research group New Constructs, SpaceX would need to achieve exceptionally ambitious financial targets to justify its current valuation, including approximately $248 billion in net income and $1.1 trillion in annual revenue by 2035.
A merger could also dilute existing SpaceX shareholders.
Under the scenario outlined by Tully, SpaceX investors would see their ownership stake fall from 100% to roughly 52%.
In exchange, they would acquire Tesla, which currently generates less than $4 billion in annual profit while requiring substantial capital expenditures of its own.
SpaceX shareholders would also inherit Tesla's substantial capital spending commitments, adding to the already enormous investments required to build out SpaceX's AI infrastructure.
Governance concerns could also emerge.
Legal experts say antitrust issues are unlikely because the companies operate in largely different industries.
However, questions around valuation, share-exchange ratios, parent-company structure, and shareholder approval could prove contentious.
Determining a fair price for both companies, deciding which entity would control the merged business, and addressing potential conflicts of interest involving Musk would likely become major points of debate among investors and regulators alike.
Nvidia (NVDA +0.15%) CEO Jensen Huang isn't shy about telling investors what stocks to buy. He is well-connected in the chip industry and knows which companies have great products and are destined for success. His recent prediction is that Marvell (MRVL +0.21%) will be the next $1 trillion company.
That's no small bet, as Marvell is currently a $220 billion company. So, if Huang is right, he's basically telling investors about a stock that can nearly 5x. That's a great gain and is well worth looking into, but what makes Marvell so special?
Image source: Getty Images.
Marvell and Nvidia are frenemies The one thing you have to give Huang credit for is that he's propping up a company that Nvidia is outright competing against in one area, yet supporting in another. Marvell has many products, but the ones that get investors most excited are its application-specific integrated circuits (ASICs) and its high-speed networking chips.
On the ASIC front, Marvell helps Amazon design its custom AI chips for Amazon Web Services, which is an outright competitor to Nvidia's GPUs. However, that's not where Huang is focused.
Instead, Huang recognizes Marvell's networking chips as best-in-class and announced a partnership with Nvidia to ensure that Marvell and Nvidia's technology are compatible with each other. This secures Nvidia's compatibility in future data centers as Marvell's connectivity infrastructure coexists alongside Nvidia's computing products.
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This shows that the AI arms race isn't a winner-take-all event. Instead, there will be several companies that are winners, allowing investors to profit from all sorts of companies. But Marvell still has a way to go before reaching the $1 trillion club. For Marvell to join the $1 trillion club, it needs a stock price of $1,140. If we assign an arbitrary 30 times earnings valuation as a reasonable price tag for a big tech stock involved in the AI build-out, then Marvell would need to generate earnings per share of $38. For its current fiscal year (FY) 2027 (ending January 2027), Wall Street estimates it will generate about $4.05 in EPS.
So, Marvel must undergo some major growth before it reaches the $1 trillion level at a reasonable valuation. We'll see how Huang's projection pans out, but for Marvell to be "the next" $1 trillion company is likely not happening anytime soon. However, it could reach that point someday if it can continue partnering with leading AI companies and deliver solid results over the long term.
Keithen Drury has positions in Amazon and Nvidia. The Motley Fool has positions in and recommends Amazon, Marvell Technology, and Nvidia. The Motley Fool has a disclosure policy.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) CEO Mark Learmonth joined Proactive this week to discuss the latest high-grade drilling results from the Motapa gold project, highlighting progress towards a maiden mineral resource estimate expected later this year.
In this interview, Learmonth outlines the project's exploration success, potential synergies with the neighbouring Bilboes development, and key milestones investors should watch in the coming months.
Watch the full interview below, followed by the transcript.
Proactive: Hello, you are watching Proactive. I'm joined by Mark Learmonth, the CEO of Caledonia Mining Corporation PLC. Mark, good to speak with you this morning. You reported a number of high-grade drill intersections at Motapa. What stands out to you most from these latest results?
Mark Learmonth: The results were very encouraging. We've done extensive work at Motapa over the last several years. In 2024, we completed around 12km of trenching and nearly 10km of drilling. In 2025, we completed more than 20km of trenching and over 20km of drilling.
We're pleased to have released the results from the 2025 programme. The process took longer than expected because assay laboratories in Zimbabwe are overwhelmed by the amount of exploration activity currently underway. Despite that delay, the results are very encouraging.
We recorded grades of up to almost 14 grams per tonne, although that was one standout result. More importantly, the overall combination of grades and widths was strong. Some widths reached up to 19 metres. The combination of good grades and meaningful widths gives us confidence that we should be able to publish a meaningful resource in due course.
Proactive: Motapa is directly adjacent to Bilboes. How do you see the potential for shared infrastructure and operational synergies enhancing the overall economics of the broader project?
Mark Learmonth: Motapa is directly adjacent to Bilboes. Bilboes itself effectively consists of two phases. During the first six years or so, mining would focus on the southern portion around Isabella and McCays. The second phase would involve material from Bubi, approximately 30km to the north.
Our exploration work at Motapa has focused on the northern edge of the property, which borders Bilboes. This creates significant potential for shared infrastructure. Material from Motapa could potentially be processed through Bilboes facilities.
There is substantial potential for synergies. However, our current focus remains on advancing Bilboes as a standalone project, which contains 1.5 million ounces over a projected mine life of 10.8 years. As work progresses at Motapa, we'll assess the best approach to commercialisation alongside Bilboes.
Proactive: You've indicated the maiden mineral resource estimate could be published in the third quarter of this year. What work still needs to be completed to reach that milestone?
Mark Learmonth: The remaining work involves internal geostatistical modelling, quality assurance and quality control processes, and final verification work. We remain confident that we'll publish a maiden resource during the northern hemisphere summer. Most of the delay has been related to receiving assay results, which we now have.
Proactive: What should investors be looking out for over the next few months?
Mark Learmonth: Investors should watch for the maiden resource estimate at Motapa and ongoing updates from Caledonia Mining Corporation PLC.
We expect to publish second-quarter production figures and summary financial results in early to mid-August. As previously stated, production at Blanket Mine is expected to improve as the year progresses. The first quarter was challenging, but we anticipate sequential improvements during the second, third and fourth quarters.
I would also expect further news flow regarding ongoing financing efforts for Bilboes.
Proactive: Thank you very much for speaking with us today.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in ADBE over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
The official justification is forced labor. The USTR claims that key trading partners have not done enough to restrict imports linked to forced labor. This creates a policy dilemma. The tariffs may help protect U.S. workers and raise supply chain standards. But they may also raise costs for businesses and consumers. That means the market impact can still be negative even if the policy goal sounds positive.
The use of forced labor is still a serious problem all over the world. According to estimates by the ILO, millions of people are still caught in forced labor and billions of dollars in illegal profits are generated from forced labor every year. That provides the White House with a solid political rationale for doing something. But the enforcement process is complex, global and difficult to trace.
Forced labor regulations are already in place in the U.S. Section 307 of the Tariff Act of 1930 bans imports made with forced labor. The UFLPA also restricts imports from China’s Xinjiang region. But the enforcement remains challenging. This is difficult because of fraud in the import process, direct-to-consumer e-commerce and poor tracking of the supply chain.
This can present a new risk for businesses. If goods come under CBP review, importers must prove that their products were not made with forced labor. This can lead to cargo delays and higher storage, legal and compliance expenses. These delays can hurt margins for large companies. They can also become a burden for small businesses.
Inflation, Yields, and Fed Policy Add Pressure Inflation and Yields Keep Pressure on Stocks The tariff story comes at a time when inflation is already moving higher. The headline CPI increased to 4.2% for the 12 months to May 2026.
This can help with sustainable growth but also increase the capital intensity of the business model. Capex may start to negatively affect free cash flow if it continues to increase despite strong revenue growth.
Price competition is also a risk. The cost of AI services could decrease as more companies release AI tools. That might make it difficult for hyperscalers to achieve a good ROI from their AI investments. This matters for S&P 500 as mega-cap tech stocks have large weights. The Dow Jones could be less affected, but a wobble in AI sentiment can impact market confidence overall.
S&P 500 Forecast: Bullish Structure Faces Valuation Risk Valuations and Tariffs Pressure the S&P 500 Valuations and interest rates are among the biggest threats to the S&P 500. The index has a high weighting in tech and AI-linked stocks. These firms may benefit from productivity gains but they are also sensitive to higher yields. As Treasury rates go up, investors start questioning the value of future earnings.
Tariffs can also have an adverse impact on S&P 500 firms as many large companies have global supply chains. Higher import costs can lead to lower margins. Late deliveries can also affect production and sales. Inflation will likely remain elevated if companies pass the costs on to consumers. If they absorb the costs, earnings could come under pressure.
S&P 500 Eyes 8,000 After Breakout The broader picture for the S&P 500 remains strongly bullish as seen in the daily chart below. The index formed an inverted head and shoulder pattern from January 2025 to June 2025. The breakout above 6,000 moved the index to 7,000.
But the correction from 7,000 to 6,000 formed a V-shaped recovery. This recovery has set the stage for a rally to 8,000. Now, the index is retracing from the resistance of 7,600 back toward the buy zone in the short term. But the index faces a support at the 50-day SMA at 7,250.
In my view, the index remains bullish in the short term and a break above 7,600 will open the door for a move to the prime target of 8,000. But a break below the 50-day SMA at 7,237 will indicate a further drop to 7,000 before a surge to 8,000.
Dow Jones Forecast: Value Rotation Supports Breakout Value Rotation and Industrial Policy Support the Dow The Dow Jones may react differently. The industrials, financials and healthcare value stocks have more exposure in the index. Reshoring and U.S. industrial policy could benefit some Dow companies. But there are still manufacturers that rely on imported components, raw materials and customers around the world.
Tariffs could hurt them. The Dow Jones has recently benefited from a rotation into value stocks as seen by the iShares Russell 1000 Growth ETF (IWF)/ iShares Russell 1000 Value ETF (IWD) ratio. This provides a more robust foundation than other growth driven market segments. But for industrial companies, the reindustrialization tariff policy can also raise costs. This will result in a mixed setup.
Dow Jones Targets 55,000 After Breakout The Dow Jones Industrial Average shows an even more bullish structure. This structure is seen by the inverted head and shoulders pattern formed from September 2021 to November 2023. This basing pattern has set the stage for a strong surge in the Dow Jones.
The index formed a triangle pattern from January 2024 to the recent highs, which pushed the index above the 50,000 level two weeks ago. This breakout is expected to continue higher in the short term despite the growing risks. This breakout indicates continued momentum toward the 55,000 level.
Investors hunting for bargains in cloud computing suddenly have two big ones to consider. Enterprise software company Oracle (ORCL 0.05%) tumbled this week after its fiscal fourth-quarter report (the period ended May 31, 2026) paired record results with a steep bill for its artificial intelligence (AI) data center expansion. Salesforce (CRM 0.34%), meanwhile, just touched a 52-week low, with shares down about 37% year to date as of this writing amid worries that AI could disrupt traditional subscription software.
The two sell-offs have very different causes. One company is being punished for spending too much on AI. The other is being punished by the fear that AI undermines its core product.
So, which beaten-down stock is the better buy?
Let's size up each company and then pick a winner.
Image source: Getty Images.
Oracle's growth right now is impressive. Fiscal fourth-quarter revenue rose 21% year over year to $19.2 billion, with total cloud revenue jumping 47% and cloud infrastructure revenue surging 93%. Even more striking, the company's remaining performance obligations (contracted revenue it hasn't yet delivered) ended the quarter at $638 billion, up from $553 billion just three months earlier. For fiscal 2027, management confirmed its forecast of about $90 billion in total revenue, implying growth of about 34%.
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But delivering that backlog is brutally expensive.
Oracle generated $32 billion in operating cash flow in fiscal 2026, yet its free cash flow was negative $23.7 billion as it spent heavily on data centers. Oracle raised $43 billion in debt and $5 billion in equity during the year, and it expects to raise about $40 billion more in fiscal 2027. On the company's fiscal fourth-quarter earnings call, management indicated net capital spending could reach about $70 billion this fiscal year.
Even after this week's drop, the stock's valuation isn't exactly cheap. Shares trade at a price-to-earnings ratio of about 32 and a forward price-to-earnings ratio of about 23 as of this writing. Investors, in other words, are still paying a premium for growth that requires enormous amounts of borrowed money to deliver.
Salesforce The software-as-a-service company's story is quite different.
Growth is the concern -- fiscal first-quarter revenue (the period ended April 30, 2026) rose 13% year over year to $11.1 billion, helped along by the company's Informatica acquisition. But the business generates substantial cash. First-quarter free cash flow was $6.6 billion, and the company returned $27.5 billion to shareholders during the period, including a $25 billion accelerated share repurchase funded largely with new debt.
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Interestingly, the AI fears hammering the stock haven't shown up in Salesforce's AI results. Agentforce, the company's AI agent product, reached $1.2 billion in annual recurring revenue in the fiscal first quarter, up 205% year over year.
"We remain confident in delivering organic revenue acceleration in the second half of FY27, driven by growth in Sales, Service, Slack, Agentforce, and Data 360," said Salesforce president and chief financial and operating officer Robin Washington in the company's fiscal first-quarter earnings release.
With the stock near its 52-week low, Salesforce trades at a price-to-earnings ratio of about 19 as of this writing -- a good-looking valuation considering the company's strong business economics and its solid growth. And this valuation is well below what investors are paying for Oracle.
The better buy For me, this one comes down to risk versus price.
Oracle offers the faster growth by far, and its $638 billion backlog is a remarkable asset. But converting it into profit demands years of heavy spending, financed with more debt and equity, before shareholders see the payoff. And most of the recent additions to that backlog have come from large AI contracts, concentrating the risk.
Meanwhile, Salesforce makes money today and returns it to shareholders, all while growing its AI products at a triple-digit rate. Yet the market is pricing the stock as if its best days are behind it.
Neither choice is risk-free. If AI demand keeps compounding for years, Oracle could deliver far greater upside than its steadier rival. And if AI agents really do erode demand for subscription software over time, Salesforce's discount could prove deserved.
But at today's prices, I think Salesforce is the better buy. Paying about 19 times earnings for a highly profitable business with accelerating AI revenue strikes me as more attractive than paying a premium for a company that must borrow billions to fund its future. Sometimes the better opportunity is the one the market seems to hate the most.
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Dollar General is adding more $1 items to its stores. Alex Bitter/BI Dollar General is going back to its roots.
The discount retailer is leaning into its selection of $1 items, from potato chips to trash bags, to draw in customers as fuel prices have risen this year. It harkens back to the chain's early years, when everything on its shelves was $1.
Customers are responding to the move. Those on limited budgets are buying more $1 items, CEO Todd Vasos said on the company's latest earnings call earlier this month.
"I can't emphasize this enough, that $1 price point has turned out to be a real savior for our core customer," the CEO said.
The strategy helped push Dollar General's net sales 3% higher to $10.8 billion in its most recent quarter that ended May 1.
The price point is also attracting more affluent customers who have been shopping at Dollar General more often over the last few years, Vasos said.
Rival Dollar Tree, meanwhile, has gone in a different direction. In 2021, it raised its base price point to $1.25 and has since started charging more for some items.
Dollar General said it carries about 2,000 items that cost $1 or less. More are coming to stores, Vasos said on the earnings call, including an entire freezer door with food options priced at $1 each.
I wanted to see Dollar General's $1 selection for myself. I was curious about whether I could buy most of what I needed for my weekly grocery haul, aside from fresh items like meat and produce, since most Dollar General stores don't carry them.
Dollar General has been expanding its grocery selection. The chain grew its share of grocery visits between 2019 and 2025, according to foot-traffic data from Placer.ai.
It also operates some DG Market stores, which sell produce and other fresh foods, though they represent a small fraction of the chain's roughly 21,000 locations.
I visited a Dollar General store in the Washington, DC, metro area to find out. Here's what I saw.
Do you have a story to share about Dollar General? Contact this reporter at [email protected] or via encrypted messaging app Signal at 808-854-4501. Use a personal email address, a nonwork WiFi network, and a nonwork device; here's our guide to sharing information securely.
I visited this Dollar General store in Hyattsville, Maryland.
This Dollar General is about a 40-minute drive from the center of Washington, DC. Alex Bitter/BI Located in a strip mall, this Dollar General is next to an independent grocery store and two fast-food restaurants — a McDonald's and a Popeyes.
The front of the Dollar General was filled with products that cost more than $1 each.
Items at multiple price points dominated the front of the store. Alex Bitter/BI I saw two-liter bottles of soda that cost between $2 to $3, bags of chips, and other grocery items as I walked in the front door.
I started finding $1 items toward the back of the store.
Banquet frozen pot pies were $1 each at this Dollar General. Alex Bitter/BI This store didn't have a full freezer section of $1 items, but I found a few at that price, such as these chicken pot pies.
Some $1 items were stocked next to name-brand equivalents.
Dollar General's store-brand spices were $1 each. Alex Bitter/BI Lots of dry groceries, such as these jars of spices, were $1 each. Often, they were from Dollar General's own Clover Valley store brand and stocked next to more expensive name-brand versions, such as the $2.50 jar of Lawry's chili powder.
Others were part of an entire aisle dedicated to $1 items.
Dollar General centralizes many of its $1 items in a single aisle. Alex Bitter/BI Dubbed "Value Valley" by Dollar General, this aisle included everything from rubber cleaning gloves to potato chips.
There was a lot of signage advertising the $1 price point.
Dollar General advertises its $1 items throughout the store. Alex Bitter/BI I saw lots of useful items here, especially cleaning supplies. There were air fresheners, scrubbing brushes, rubber gloves, sponges, and lots of other cleaning tools — each costing $1.
The selection varied from Epsom salts…
These bags of Yardley Epsom salts were $1 each. Alex Bitter/BI Some $1 items weren't store-branded, such as these Yardley Epsom salts.
… to bags of flavored popcorn.
These bags of Takis-flavored popcorn were $1 each. Alex Bitter/BI Snacks were one of the product areas with a variety of $1 options.
In general, though, there wasn't as wide a selection of food as I expected. Maybe Dollar General's expanded frozen food selection hasn't arrived at this store yet.
Dollar General did not respond to a request for comment.
In other aisles, I saw full-priced versions of many $1 items.
Many name-brand items cost well over $1 each at Dollar General. Alex Bitter/BI These Glad trash bags were almost $6 a pack at Dollar General and were in a separate aisle from the $1 trash bag alternatives.
There was a wide selection of sweet snacks for $1 a bag.
The candy aisle at Dollar General was well-stocked. Alex Bitter/BI If you're a fan of sweet treats, such as Sour Patch Kids or coconut macaroons, there was quite a selection at this Dollar General.
Overall, I didn't see enough $1 stuff to fulfill my weekly grocery haul.
These chicken nuggets and fries were $1.50 a package. Alex Bitter/BI Overall, there was a reasonable selection of store-brand household goods, frozen foods, and dry groceries available for $1 each. That might make Dollar General a decent place to shop for consumers on a budget.
I could see stopping by regularly for a few pantry staples and some cleaning supplies. As long as there were other grocery options nearby, though, I probably wouldn't go out of my way to make it a stop on my weekly grocery run.
This store didn't quite have everything most people would need on a weekly basis — at least, not without buying a lot of items above $1 each.
And, of course, there was no fresh food, though I didn't expect it at this store.
The $1 price point seems to function as a loss leader for Dollar General.
Many $1 items at Dollar General were at the back of the store. Alex Bitter/BI From the frozen pot pies to trash bags, many of the $1 items at this Dollar General were located toward the back of the store, meaning that you had to walk past full-priced equivalents to get there.
That made me think that $1 items act as a loss leader for the chain. Supermarkets have done this for years by putting essentials like milk toward the rear of their stores and pricing them competitively. The theory is that you'll stop by for cheap milk — then pick up other, full-price items as you walk there and back.
The same could be true at Dollar General. The $1 items seem to be a draw for many shoppers, but they're not the only items most shoppers buy.
Read next
Alex Bitter You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
Alex Bitter is a senior retail reporter covering the gig economy, food, and retail. His work focuses major gig delivery and ride-hailing apps, including Uber, Lyft, DoorDash, Instacart, and Walmart's Spark. He is interested in everything from what it's like to work on the apps to the companies' business strategies.Some of his recent stories feature gig workers who have been deactivated on the apps, DoorDash hiring traditional employees to make deliveries, gig workers' use of bots, and gig work expanding into new professions, such as nursing.Alex has also written about Aldi's US expansion, Starbucks' turnaround efforts, and the fallout from Kraft-Heinz's budget cutting. Convenience store chain Sheetz ended its "smile policy" after his reporting.Before joining Insider in September 2020, he wrote about consumer and retail companies for S&P Global Market Intelligence. He's a graduate of the University of Hawai'i at Mānoa and grew up on the Big Island.Alex lives in the Washington, DC, area, where you can find him studying ancient coins or searching for Civil War artifacts with his metal detector in his free time.Got a tip? Reach out at [email protected] or via encrypted messaging app Signal at +1 (808) 854-4501.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Perhaps lost in the shuffle of the June 11 risk-on equity market rally -- one fueled in part by the White House saying it nixed military strikes against Iran -- was the May reading of the Producer Price Index (PPI) released early in the day.
The report wasn't pretty. It showed a 1.1% increase, meaning the wholesale inflation rate over the prior 12 months was 6.5%, the highest level since November 2022. Typically, companies' higher input costs are passed on to shoppers, suggesting some vulnerability for consumer staples stocks. That's not the case across the board. Just look at Coca-Cola (KO +0.11%).
Coca-Cola is one consumer stock with buffers against rising producer prices. Image source: Getty Images.
Outpacing the S&P 500 by a margin of more than 2-to-1 this year, the beverage stock hit a 52-week high the day before the PPI report. That's not a coincidence. Rather, it's a testament to Coca-Cola's execution prowess amid a tough operating climate.
Not just a pricing power story As noted above, companies across a variety of industries often raise prices on customers to offset higher producer costs. Due to its enviable brand recognition and status as the purveyor of multiple premium soft drink brands, Coca-Cola could probably get away with some price hikes to soften the blow of elevated input costs. Still, the company isn't leaning on that option.
That's to the benefit of both investors and shoppers, because rival PepsiCo went down that road and lost billions of dollars in sales as cost-sensitive consumers said, "Enough is enough." Well-run companies learn from rivals' missteps, and Coca-Cola appears to have learned valuable lessons from Pepsi's pricing gaffes. Indeed, Coca-Cola is facing some inflationary headwinds, including constrained aluminum and plastic supplies due to the war in Iran.
For investors, the good news is that the company has levers it can pull to juice sales without pinching consumers. Those include pushing drinks that are less commodities-intensive (less sugar). Those moves are working because some on Wall Street say Coca-Cola is somewhat "insulate" from inflation-induced cost pressures and can maintain its appeal to both high-end and cost-conscious consumers.
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Consider this. On June 10, Morgan Stanley named Coca-Cola its top pick in the beverage space, with one of the reasons for that bull call being the company's ability to hold prices in the face of inflation in superior fashion relative to some rivals.
Don't forget the dividend Another point of allure with Coca-Cola is its status as a blue chip dividend stock. The shares yield 2.6%, and the payout has grown for 64 consecutive years. Obviously, a six-decade-plus run of steadily rising dividends is impressive in its own right, but it pays to dig deeper.
Typically, consistent dividend raisers are high-quality companies that can offer investors some protection when markets turn sour.
Coca-Cola's dividend growth is also relevant in the inflation protection conversation. The stock's 2.6% yield matches the average rate of inflation over the past two decades, and it's well above the five-year forward breakeven level of 2.2%. At the end of the day, no stock is the "perfect" inflation fighter, but long-term investors looking for a friend in the face of rising prices may want to give Coca-Cola a look.
Retail investors talked up five hot stocks this week (June 8 to June 12) on X and Reddit’s r/WallStreetBets, driven by retail hype, earnings, listings, AI infrastructure momentum, and corporate/geopolitical news flow.
Space Exploration Technologies SpaceX shares opened at $150 apiece, at an 11.1% premium to the IPO price of $135 per share on Friday and closed its regular trading session 19.3% higher at $160.95 apiece. The stock traded in the range of $149.34 to $176.52, on its listing day. Many retail investors who did not get the IPO allotment were conflicted on whether they should buy SPCX. The stock opened at $XX per share on Friday and closed XX% higher/lower at $XX per share. SPCX‘s Benzinga's Edge Stock Rankings are yet to be updated as the stock has just listed on the bourses. Some retail investors were bullish on SMCI despite the sell-off. The stock had a 52-week range of $19.48 to $62.36, trading around $30 to $32 per share, as of the publication of this article. It declined by 26.01% over the year and 6.03% in the last six months. The stock was also up 9.22% YTD. SMCI had a strong price trend in the medium term but a weak trend in the short and long terms, with a solid value score as per Benzinga's Edge Stock Rankings. Micron Technology Retail investors were confident of MU’s rally and expected it to trade above $1000 apiece, hereon. The stock had a 52-week range of $103.38 to $1,089.29, trading around $987 to $996 per share, as of the publication of this article. It advanced 758.29% over the year and 285.31% in the last six months. The stock gained 248.93% YTD. Benzinga's Edge Stock Rankings showed that MU had a strong price trend in the long, short, and medium terms, with a solid growth score. Uber Technologies Retail investors were still bullish on the stock, recommending other users to buy UBER calls. The stock had a 52-week range of $67.19 to $101.99, trading around $68 to $71 per share, as of the publication of this article. It was down 19.67% over the year, lower by 18.60% over the last six months, and down 14.88% YTD. UBER maintains a weak price trend over the long, short, and medium terms, with a moderate value score, as per Benzinga's Edge Stock Rankings, with a solid value score. Advanced Micro Devices AMD saw volatile but generally positive trading this week. On June 8, it committed up to £2 billion or $2.66 billion to boost AI research, infrastructure, supercomputing, and workforce development in the UK over five years. Several investors were bullish on the stock, hoping the stock to go above $500 per share. The stock had a 52-week range of $115.06 to $546.44, trading around $487 to $500 per share, as of the publication of this article. It advanced by 303.21% over the year, and 120.59% over the last six months, and 128.08% YTD. According to Benzinga's Edge Stock Rankings, AMD was maintaining a strong price trend over the short, medium, and long terms, with a solid quality score. Retail focus blended AI infrastructure momentum, earnings beats, and geopolitical news-driven narratives with broader market action during the week.
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Progressive Corporation maintains exceptional market-share gains and strong underwriting but faces near-term EPS declines despite continued revenue growth. PGR is reinvesting profitability into customer acquisition and selective rate reductions, leading to margin pressure as competition intensifies and peers restore profitability. Consensus expects PGR's EPS to decline through 2028, with valuation at 12.5x forward earnings reflecting anticipated margin normalization and limited near-term earnings growth.
Revolution Medicines is upgraded to buy as Daraxonrasib delivers practice-changing Phase 3 data in pancreatic ductal adenocarcinoma (PDAC). RVMD's $4B pro forma liquidity supports over two years of aggressive clinical expansion, with cash burn focused on value-driving trials and regulatory submissions. Daraxonrasib's Phase 3 results show a 60% reduction in risk of death and doubled median overall survival in metastatic PDAC, supporting a multi-billion-dollar opportunity.
SummaryAres Management has corrected ~34% from highs, but its fee base and earnings remain resilient, supporting a buy rating.Q1 2026 showed management fees up 22% YoY, FRE margin expansion to 42.4%, and record fundraising, indicating robust institutional demand.~85% of AUM is in locked or long-dated vehicles, structurally insulating ARES from rapid credit stress and making the current valuation discount appear excessive.Undeployed AUM of $79.4B could add ~$0.85/share in after-tax RI, with visible catalysts and 16-20% FRE CAGR guidance supporting upside potential. David Gyung/iStock via Getty Images
Ares Management (ARES) has corrected around ~34% from its 52-week high, primarily dragged down by private credit anxiety, BDC redemption fears, and a ~41% decline in middle market M&A in Q1 2026. For
4.37K Followers
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Chewy (CHWY +2.88%) shares failed to gain traction after the company reported another strong fiscal first quarter and lowered its full-year revenue guidance slightly due to a more cautious consumer. The stock is now down about 40% on the year.
Let's take a closer look at the pet products e-commerce operator's results and prospects to see if this is a buying opportunity.
Image source: The Motley Fool.
Solid growth in the face of a weakening consumer Despite earlier warnings that it was not completely immune to a weak consumer, Chewy delivered strong results. Revenue jumped 7.7% to $3.36 billion, a smidge ahead of analyst expectations. Meanwhile, adjusted earnings per share climbed 23% to $0.43, meeting the consensus estimate.
It saw its active customers rise 3.6% year over year to 21.5 million, while net sales per active customer grew 2.4% to $597. Sales derived from autoship customers, meanwhile, climbed 10.5% to $2.83 billion and accounted for 84.4% of its total revenue.
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Importantly, margins continued to increase. Its gross margin rose by 50 basis points to 30.1%, while its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margins jumped from 6.2% to 7.5%. This helped lead to a 31.2% increase in adjusted EBITDA to $253.1 million.
Looking ahead, the company guided for fiscal Q2 revenue of between $3.3 billion and $3.33 billion, representing growth of 6.3% to 7.5%, with adjusted EBITDA margins of 6.3% and 6.4%, up 50 basis points year over year.
For the full year, the company lowered expectations, taking it to a range of $13.40 billion to $13.55 billion, good for 6.3% to 7.5% growth, versus a prior outlook for revenue between $13.6 billion and $13.75 billion, representing growth of between 8% and 9%. It continues to expect adjusted EBITDA margins to expand 100 basis points to between 6.6% to 6.8%.
A cheap stock with strong operating leverage While Chewy slightly lowered its full-year guidance, the company's overall business model remains very resilient, as the majority of sales come from customers enrolled in its autoship program. The company's cautious tone is not unique among retailers, with consumers being pinched by high inflation and gasoline prices.
Meanwhile, the company continues to see solid margin expansion. It's seeing solid operational efficiency as it adopts artificial intelligence, while boosting gross margins from its sponsor ad business. Given Chewy's modest operating margins, continued margin expansion should be a big profit driver moving forward.
With the stock trading at a forward P/E of just 13 times the current-year analyst consensus, the stock is a bargain given its growth, expanding operating margins, and resilient business model. I'd be a buyer at these levels.
The return of Elliott Hill to lead Nike was supposed to reinvigorate the brand. Instead, setbacks in running, product development and brand strategy have kept the swoosh from regaining its stride.
Nvidia (NVDA +0.15%) has been one of the biggest artificial intelligence (AI) success stories so far. The company provides a crucial tool -- and one of the highest quality -- used in the development of this technology. This is the graphics processing unit (GPU), a chip that powers important tasks such as the training of models.
The company's GPU strengths and its portfolio of related products and services have helped it to report record levels of earnings quarter after quarter. And this has lifted the stock too, with gains of more than 400% over three years.
Some investors have worried that, after such a performance, Nvidia may lose momentum. It's true that there are plenty of rivals in the AI chip space, from chip designers like Advanced Micro Devices to some of Nvidia's customers, like Amazon, that have created their own chips.
But my prediction is Nvidia will stay ahead of the crowd -- and the second half of this year actually will represent a game-changing moment for the AI giant. Let's take a closer look.
Image source: Getty Images.
Nvidia's GPUs over time So, first, a bit of background on this market leader and where it stands in today's AI environment. Nvidia's GPUs have been around for decades, and in their early days, they mainly served the gaming market. The company has since expanded their use, and this was made possible by Nvidia's creation of CUDA, a parallel computing platform.
And about a decade ago, recognizing the AI opportunity, Nvidia tailored its GPUs for this industry. This, along with the creation of other products to support the GPU in its AI tasks, helped Nvidia build an AI empire. In the latest quarter, the company reported an 85% increase in revenue to more than $81 billion. And gross margin has remained pretty consistently above 70%, showing high profitability on sales.
As mentioned, Nvidia isn't alone in the space. Rivals sell GPUs or other similar AI chips, and they, too, have delivered significant growth. Yet Nvidia has maintained its lead, due to its brand strength and the quality of its products, as well as its focus on innovation.
But some investors have wondered how long this will last, particularly as rivals too have been supercharging their innovation engines -- and Nvidia's GPUs carry the highest price tag. Meanwhile, the needs of AI are changing. For example, the early stage of the AI story was all about training models, and for this, the GPU was critical.
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The era of AI agents Today, we're moving into the era of AI agents, involving the actual application of AI to problems. In agentic AI, the AI agent acts as a human would -- considering a problem and taking steps, in many cases multiple steps, to solve it. And to power this process, another type of chip is most needed: the central processing unit (CPU). These are the general chips found in all computers.
Nvidia hasn't been a big player in the CPU market. Intel and AMD have been longtime leaders in this market, but if Nvidia meets its goals, this might change.
And this leads me to my prediction. The second half of the year could be a key moment for Nvidia because it plans to take two game-changing steps: It aims to release its Vera Rubin platform for data centers, and this includes the company's first-ever stand-alone CPU. And, for the PC market, it aims to release a new superchip, the Nvidia RTX Spark. This chip, including an Nvidia GPU and an Nvidia CPU, will launch in Windows laptops this fall from Microsoft, Dell, and others.
So, as of the second half, Nvidia will advance in the CPU market in a big way -- aiming for share in data center CPUs and in the PC market. Nvidia says the stand-alone CPU market is worth about $200 billion, and the company says it's on track for leadership.
The big news here is that Nvidia is maintaining its GPU dominance and eventually may hold a similar position in the broader CPU market. This could greatly increase the company's revenue growth potential over time -- and that's why I predict that the launches of these two CPU products will represent a game-changing moment in the Nvidia story.
As of this writing on June 10, a new round of U.S. military strikes in the Iran conflict has driven up the price of oil. Higher oil prices mean higher prices at the gas pump. And in an economy where many Americans already feel pressured by high costs of living, that could lead to some changes in how people spend their discretionary income.
Some retail stocks are more vulnerable than others to high gasoline prices. Retail sector stocks in general are struggling in 2026. So far this year, Walmart (WMT +0.44%) and Costco (COST +0.67%) are both strongly outperforming the S&P Retail Select Industry Index, but only Costco is outperforming the S&P 500 index:
WMT Total Return Level data by YCharts.
Costco shares have delivered slightly higher returns than Walmart stock in 2026. And if gas prices stay high, that outperformance is likely to continue. Costco might be better positioned than any other retailer to keep thriving even if gas prices spike again.
Let's look at a few reasons why Costco could be a better buy than Walmart.
Walmart customers are cutting back on gas
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Walmart and Costco both sell gas. So on that basic level, both retailers will keep earning revenue from gasoline even if gas prices stay higher for longer. But customers seem to be reacting to high gas prices in a way that's more troubling for Walmart's business.
On May 21, during the company's most recent earnings call, Walmart's chief financial officer John David Rainey said that although the retailer's higher-income customers are still spending "with confidence," lower-income customers are "more budget-conscious."
As part of that trend, Rainey shared a surprising statistic: Walmart fuel-center customers are now buying an average of less than 10 gallons of gas per visit. That's the lowest level since 2022.
It's a bad sign, indicating that Walmart shoppers are being hit hard by high gas prices. If people are still topping up their tanks at Walmart gas pumps but having to cut back on gas, that could mean they're tapped out and ready to pull back on other consumer discretionary spending. That could lead to less foot traffic in Walmart stores.
Costco: Record-breaking gasoline sales
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Gasoline sales make up a significant portion of Costco's revenue -- about 10% of total net sales, according to the 2025 annual report. But the recent spike in gas prices has driven Costco's gas sales even higher than usual.
On the company's most recent quarterly earnings call on May 28, CEO Ron Vachris said that Costco achieved "record-breaking volumes" in its latest fiscal quarter, and the final five weeks of the quarter were "our top five volume weeks ever."
Even beyond the sheer volume of gasoline that they buy, Costco members seem to behave differently when buying gas. Instead of buying cheap gas and driving away, Costco's gas customers tend to stick around and shop. Vachris said on May 28 that company executives believe higher gasoline sales volumes "will drive even greater loyalty with these members in the future, as members who use our gas stations typically spend more with us in the warehouse."
During a previous earnings call on March 5, Costco's CFO said that about 50% of gas shoppers also "cross-shop" at the nearby Costco warehouse. Buying gas at Costco isn't just a way to save money, it's an occasion to go spend some more. People might think: "I'll stop by Costco for the cheap gas -- oh, and while I'm there, I'll buy some groceries for dinner."
Image source: Getty Images.
High gas prices aren't the only factor that determines how people spend money or where they shop. But if the Iran conflict leads to a longer, more severe spike in gas prices, it would likely drive inflation even higher for longer across the economy. If inflation rises, Walmart's lower-income customer base is likely to pull back on spending sooner than Costco's more affluent gas-pump bargain hunters.
Costco has a recent price-to-earnings (P/E) ratio of 48.8, compared to Walmart's P/E multiple of 42.3. Neither stock looks cheap compared to the S&P 500's current P/E ratio of 31.3. But if I had to choose today between investing in shares of Costco or Walmart, I'd buy Costco stock.
Roku (ROKU +20.08%) has been something of an enigma for shareholders. Despite being at the top of its game, the stock hasn't gotten the respect it deserves. Yet the company's business is firing on all cylinders. However, investors have started to come around, and the stock has gained 78% over the past year.
In the latest move, the stock spiked more than 20% on Friday on reports that the company has been in discussions to be acquired by a major U.S. media company, according to Bloomberg, citing "people with knowledge of the matter."
It appears that investors haven't been the only ones taking a fresh look at the streaming pioneer. Let's review Roku's recent results, understand what might make the company attractive to a potential suitor, and why investors shouldn't sleep on these reports.
Image source: The Motley Fool.
A lot to likeAfter years of operating losses and investing to enter new markets, Roku turned the corner in Q2 of 2025 and has been profitable in every quarter since. Perhaps as importantly, the company continues to increase its market share and expand its reach, building the foundation for future growth. Its recent results help paint a rosy picture.
In the first quarter of 2026, Roku generated total revenue of $1.2 billion, up 22% -- marking the company's strongest year-over-year quarterly growth in four years. The results were driven higher by its platform segment, which includes advertising revenue, which increased 27%, and subscriptions, which jumped 30%. Overall, platform revenue rose 28% to $1.1 billion, while device revenue declined 16% to $118 million. Roku sells its devices at or near cost to draw viewers into its ecosystem (more on that later).
The company continues to find new ways to augment that strategy, which keeps paying off. Last year, Roku launched its own paid streaming channel, named Howdy. The subscription service launched in August at a modest price tag of just $2.99 per month to attract more price-sensitive customers. Roku seeded its ad-free channel with thousands of titles totaling 10,000 hours of entertainment, with programs and movies from Lionsgate, Warner Bros. Discovery, and FilmRise. It also included select Roku original programming.
While critics quickly dismissed the service as too little, too late, Roku was undaunted. In the ensuing months, Howdy has racked up more than 1 million subscribers, according to a report by industry analyst Antenna. The report also noted that Howdy had enviable retention rates, with 51% of those who signed up in the first month were still subscribers six months later, far exceeding the retention rates of premium and specialty and subscription video on demand (SVOD) services, at 47% and 38%, respectively.
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Another winning strategy has been The Roku Channel -- the company's home-grown ad-supported channel -- which closed out 2025 with a 3% share of all U.S. TV viewership, according to Nielsen. The channel ranks in the Top 10 among all media companies, putting Roku in select company alongside Alphabet's YouTube, Disney, and Netflix, among others. Roku previously revealed that The Roku Channel ranked No. 2 on its platform in terms of engagement.
If that weren't enough, Roku announced earlier this year that it had surpassed 100 million households worldwide, illustrating its growing global reach. Moreover, the company's decision to sell its devices at or near cost is paying off: Roku's collection of branded TVs and other streaming devices are used by "more than half of all U.S. broadband households."
Roku's large and expanding reach makes it an attractive target for a potential acquirer, giving them instant access to more than 100 million households. But even if Roku isn't acquired, it has all the pieces in place for a successful future, which makes it an attractive stock for investors.
The recent spike in its share price has skewed its valuation, selling for 40 times next year's expected earnings. However, measured using the more appropriate forward price/earnings-to-growth (PEG) ratio -- which takes into account Roku's rapid growth -- clocks in at 0.19, when any number less than 1 is the standard for an undervalued stock.
That's why investors shouldn't sleep on Roku -- merger or not.
Danny Vena, CPA has positions in Alphabet, Netflix, Roku, and Walt Disney. The Motley Fool has positions in and recommends Alphabet, Netflix, Roku, Walt Disney, and Warner Bros. Discovery. The Motley Fool has a disclosure policy.
SummaryIn this article series, I summarize dividend announcements of the past week. Six stocks in my database announced dividend increases, including one stock I own, and one declared a special dividend.W. R. Berkley stands out with an 11.1% dividend increase, a 50¢ special dividend, and the highest quality score this week.Medtronic offers the most value, trading 9% below fair value, but its dividend growth is modest at 1.4%.Essential Properties Realty Trust leads in forward yield at 4.23% and boasts strong projected growth with a sustainable payout ratio.Greif raised its dividend by 10.7% but shows the weakest safety profile, with a low-quality score and negative free cash flow. GamePH/iStock via Getty Images
I monitor dividend announcements for 700+ dividend growth stocks in my database and report on them in this weekly article series.
Celebrating increases for the stocks I own is satisfying. Still, a dividend increase carries a broader
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Analyst’s Disclosure: I/we have a beneficial long position in the shares of UNH either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
QuantumScape Corporation (QS) 16th Annual Wells Fargo Industrials & Materials Conference June 11, 2026 10:30 AM EDT
Company Participants
Kevin Hettrich - Chief Financial Officer
Conference Call Participants
Colin Langan - Wells Fargo Securities, LLC, Research Division
Presentation
Colin Langan
Wells Fargo Securities, LLC, Research Division
Yes, happy to kick off the next session with QuantumScape. We have today the CFO, Kevin Hettrich, obviously, a leader in solid-state batteries. And I think you're going to kick it off with a short presentation that we said...
Kevin Hettrich
Chief Financial Officer
Yes, just a few minute overview of the company. So Colin, first of all, thank you for inviting us to the conference. It's our pleasure. So QuantumScape started 15 years ago to give the world much better batteries on all the dimensions you'd care about, smaller, lighter, faster charging, safer, longer-lived and lower cost.
To do so, to make that type of dramatic change in all the elements, we wanted to change the chemistry from the lithium-ion batteries we use today to what are called solid-state lithium metal batteries. A brief primer on the difference. So lithium-ion battery, you have an anode, you have a cathode.
The way batteries work is when you charge them, lithium-ion goes from the cathode to the anode and you charge it, like rolling a ball up the hill. When you want the energy back, it goes in the opposite direction. It's called lithium-ion battery because when you charge it, the lithium is stored in an ionic state.
It's held in a kind of a graphite silicon organic electrolyte layer. What we're working on commercializing in solid-state lithium metal. It's called lithium metal because in the charge state instead of being that kind of sponge that of host material, there's nothing there as we manufacture the device.
LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against FS KKR Capital Corp. (“FSK” or “the Company”) (NYSE: FSK) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between May 8, 2024 and February 25, 2026, inclusive (the “Class Period”), are encouraged to contact the firm before July 3, 2026.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. FSK misled investors about the effectiveness of its portfolio restructuring activities. The Company overvalued its portfolio and overstated its portfolio valuation process. The Company overstated the strength of its quarterly dividend program. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about FSK, investors suffered damages.
Join the case to recover your losses
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
LOS ANGELES, June 12, 2026 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Badger Meter, Inc. (“Badger” or “the Company”) (NYSE: BMI) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between April 18, 2024 and April 16, 2026, inclusive (the “Class Period”), are encouraged to contact the firm before August 3, 2026.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Badger Meter claimed its financial performance was based on “secular growth drivers,” and “solid operating execution.” The Company touted “strong” demand and a “long runway” for growth. In truth, the Company’s performance was partially based on pulling forward customer orders to recognize revenue early. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Badger Meter, investors suffered damages.
Join the case to recover your losses
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335 [email protected]
Analyst’s Disclosure: I/we have a beneficial long position in the shares of OBDC either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Disclaimer: I am not an investment advisor or professional. This article is my own personal opinion and is not meant to be a recommendation of the purchase or sale of stock. The investments and strategies discussed within this article are solely my personal opinions and commentary on the subject. This article has been written for research and educational purposes only. Anything written in this article does not take into account the reader’s particular investment objectives, financial situation, needs, or personal circumstances and is not intended to be specific to you. Investors should conduct their own research before investing to see if the companies discussed in this article fit into their portfolio parameters. Just because something may be an enticing investment for myself or someone else, it may not be the correct investment for you.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Rosen Law Firm Encourages GoDaddy Inc. Investors to Inquire About Securities Class Action Investigation - GDDY PR Newswire
NEW YORK, June 12, 2026
, /PRNewswire/ --
Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of GoDaddy Inc. (NYSE: GDDY) resulting from allegations that GoDaddy may have issued materially misleading business information to the investing public.
So What: If you purchased GoDaddy securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
What to do next: To join the prospective class action, go to https://rosenlegal.com/cases/godaddy-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
What is this about: Rosen Law Firm is investigating potential civil securities claims.
Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. At the time Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
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Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827 [email protected]
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The numbers behind the artificial intelligence (AI) build-out keep getting bigger. On Tuesday, chip designer Broadcom announced a financing platform with investment giants Apollo Global Management and Blackstone designed to enable more than 20 gigawatts of AI compute capacity through 2028, launching with an initial $35 billion tranche.
Even automakers want in. General Motors said this week it is developing a sodium-ion battery (a chemistry built on abundant sodium rather than scarcer lithium) aimed at energy storage for data centers and the grid.
All of this demand is landing on an electric grid that can take years to expand. Securing a grid connection for a large data center campus can be a multiyear wait, and the equipment needed to build new power plants is in short supply. That mismatch is where Bloom Energy (BE +4.56%), GE Vernova (GEV +3.74%), and Vistra (VST +1.12%) come in.
Here's a closer look at how each company is positioned to power the build-out.
Image source: Getty Images.
1. Bloom Energy Bloom makes solid oxide fuel cells -- systems that generate electricity on-site from natural gas without combustion -- letting data centers skip the wait for a grid hookup. Bloom's first-quarter revenue soared 130% year over year to $751.1 million, driven by a 208% jump in product revenue. The company also posted net income of $70.7 million, reversing a year-ago loss. And management raised its full-year outlook, now expecting 2026 revenue of $3.4 billion to $3.8 billion -- about 80% growth at the midpoint, up from prior guidance of about 60%.
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In April, Oracle said Bloom fuel cells will fully power Project Jupiter, its AI data center campus in New Mexico, with up to 2.45 gigawatts of capacity, replacing the gas turbines and diesel generators originally planned for the site. Notably, management said more than half of Bloom's data center backlog comes from customers other than Oracle.
"Bloom is rapidly becoming the standard and go-to choice for on-site power," said Bloom founder and CEO KR Sridhar during the company's first-quarter earnings call.
2. GE Vernova While Bloom helps data centers bypass the grid, GE Vernova supplies the grid itself -- along with the gas turbines utilities are waiting in line to order. The power equipment maker's first-quarter orders surged 71% on an organic basis to $18.3 billion, pushing its total backlog to $163 billion. Its gas turbine backlog and slot reservation agreements grew from 83 gigawatts to 100 gigawatts in a single quarter, and management now expects to reach at least 110 gigawatts by the end of 2026.
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GE Vernova's electrification segment, which makes grid equipment like transformers and switchgear, booked $2.4 billion of equipment orders to support data centers during the first quarter -- more than in all of 2025. Further, the company's free cash flow more than quadrupled year over year to $4.8 billion, and management raised its 2026 guidance.
3. Vistra Vistra is one of the largest competitive power producers in the U.S., with a generation fleet spanning natural gas and nuclear. And AI's biggest spenders are locking up that fleet years in advance. Last year, the company signed a 20-year power purchase agreement with Amazon's cloud unit for up to 1,200 megawatts of nuclear power from its Comanche Peak plant in Texas. It also signed 20-year agreements to supply Meta Platforms with 2,609 megawatts of nuclear energy and capacity from its plants in the eastern U.S.
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The company is adding natural gas capacity, too, with its pending acquisition of about 5,500 megawatts of generation from Cogentrix, targeted to close in the second half of this year. Last month, Vistra reported first-quarter ongoing operations adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of about $1.5 billion and reaffirmed its full-year forecast of $6.8 billion to $7.6 billion.
What could trip up the power trade Of course, these stocks face risks. Project timing, for instance, is one. In fact, Bloom Energy shares fell this week after a partner reportedly paused work on a data center site in Wyoming. Additionally, these companies operate in highly regulated markets.
The bigger risk may be the demand side itself. All three stocks have rallied on the assumption that AI capital expenditures keep climbing, and AI infrastructure stocks have pulled back recently on concerns about the pace of that spending. If the build-out decelerates meaningfully, backlogs could stop growing and these valuations could compress quickly.
Still, the demand signals keep arriving week after week, and from new directions -- financiers one day, automakers the next. For investors who believe the electricity bottleneck is real and durable, these three companies arguably offer a more grounded way to invest in the AI boom than chasing the chipmakers themselves.
LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against POET Technologies Inc. (“POET” or “the Company”) (NASDAQ: POET) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between April 1, 2026, and April 27, 2026, inclusive (the “Class Period”), are encouraged to contact the firm before June 29, 2026.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. POET misrepresented its tax status due to the likelihood it would be deemed a passive foreign investment company (“PFIC”), which would have negative tax implications for individual investors. The Company’s business prospects were endangered by CFO Thomas Mika violating a business agreement in a public interview. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about POET, investors suffered damages.
Join the case to recover your losses
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
Rosen Law Firm Encourages Futu Holdings Limited Investors to Inquire About Securities Class Action Investigation - FUTU PR Newswire
NEW YORK, June 12, 2026
, /PRNewswire/ --
Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Futu Holdings Limited (NASDAQ: FUTU) resulting from allegations that Futu may have issued materially misleading business information to the investing public.
So What: If you purchased Futu securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
What to do next: To join the prospective class action, go to https://rosenlegal.com/cases/futu-holdings-limited/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
What is this about: On May 22, 2026, Reuters published an article entitled "China to crack down on 'illegal' cross-border securities" The article stated that China "announced a major crackdown on cross-border investment on Friday and said it would punish brokers it accused of illegally moving money to foreign markets, sending their shares plunging." Further, "online rokers Tiger, Futu and Longbridge would be penalised for soliciting business in China without an onshore licence, the securities regulator said."
On this news, Futu American Depositary Shares ("ADSs") fell 27.5% on May 22, 2026.
Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. At the time Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827 [email protected]
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Investing in cloud computing companies is one of the primary ways people can gain portfolio exposure to the artificial intelligence (AI) megatrend. Most companies don't have the resources and expertise necessary to build their own AI-centric data centers, so instead, they rent processing power out from cloud computing operations like Amazon (AMZN 1.24%) Web Services (AWS), Microsoft (MSFT +0.11%) Azure, and Alphabet's (GOOG +0.45%) (GOOGL +0.53%) Google Cloud. Those are the three largest titans in the industry, but they aren't the only options.
Two relative newcomers, CoreWeave (CRWV +5.02%) and Nebius (NBIS +4.63%), are also viable options for businesses in need of AI cloud capacity, and are growing much faster, in part due to their smaller sizes. So, which cohort would make for a better investment now?
Image source: Getty Images.
The established companies are crushing it AWS is the largest cloud infrastructure operation in the world, and actually provides most of Amazon's profits. AWS accounted for 59% of Amazon's operating income in Q1, and its revenue grew at a 28% rate -- its fastest expansion in nearly four years.
Microsoft doesn't divulge as much information about Azure as AWS and Google Cloud do. It only provides the business unit's growth rate, which was still an impressive 40% in its latest quarter.
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However, Google Cloud tops both of them, with an impressive 63% growth rate, but it had some help from its Tensor Processing Units (TPUs).
TPUs are powerful computing units that can outperform general-purpose GPUs from a cost standpoint when handling the specific deep learning and matrix mathematics workloads they are designed for. Deploying its TPUs helped Alphabet catch up in the AI build-out, and now, it is starting to sell those proprietary AI chips directly to other companies rather than just renting out their processing power. With external sales of these units contributing to Google Cloud's growth rate, the waters get a bit murky in terms of gauging how well the infrastructure business alone is doing, but it's still the fastest-growing of the three despite being the smallest.
While Microsoft doesn't provide exact profitability information, I think it's safe to assume that Azure is producing a ton of profits for Microsoft. With all three legacy players making a ton of money from their cloud computing divisions, that means cloud computing can be a viable standalone business. But can CoreWeave and Nebius get to that point?
Rapid growth, but no profits CoreWeave and Nebius are both neocloud companies -- cloud computing specialists that are focused on AI. The two have differing business models, but each has attracted major tech players including Microsoft and Meta Platforms as clients. These customers already have data centers of their own, but being able to rapidly obtain more of the computing power they need without having to build it is still an option they find valuable.
Demand from those customers and others is giving CoreWeave and Nebius jaw-dropping growth rates compared to the legacy cloud companies. In Q1, CoreWeave's revenue grew by 112% year over year while Nebius' soared by 684%.
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Wall Street is also incredibly bullish on their futures. For 2026 and 2027, Wall Street analysts expect 147% and 97% revenue growth, respectively, for CoreWeave. Nebius is expected to grow even faster, with 2026's growth estimates hovering around 551% and 2027's at 224%. Still, nobody expects these two to be profitable because they're spending every bit of money they have to expand their cloud footprints. That's one of the central risks of investing in these two, but it could pay off big if they keep growing rapidly and achieve profitability.
The legacy cloud companies are still fantastic investments, but if you want greater long-term upside potential (and you're comfortable with higher risk), then Nebius and CoreWeave are solid stock picks.
Keithen Drury has positions in Alphabet, Amazon, Meta Platforms, Microsoft, and Nebius Group. The Motley Fool has positions in and recommends Alphabet, Amazon, Meta Platforms, and Microsoft. The Motley Fool has a disclosure policy.
JPMorgan Chase (JPM +2.28%) is one of the largest banks in the world, with a business that spans from the local corner bank to investment banking (it is one of the companies helping out with the SpaceX (SPCX +19.17%) IPO). That said, its results are heavily impacted by changes in interest rates. Here's a look at the company's 7% net interest income target for 2026 and why it may need to raise it.
JPMorgan Chase entered 2026 with expectations for headwinds When rates rise, JPMorgan Chase can charge higher interest rates on the loans it makes. And it can drag its feet when it comes to increasing the rates it pays to its bank customers. The outcome is higher net interest income. However, if rates fall, the bank's net interest income declines because it charges lower interest rates on its loans. It has no choice if it wants to remain competitive. And it takes time to lower the rates it pays depositors, further compounding the headwind.
Image source: Getty Images.
As JPMorgan Chase entered 2026, it expected net interest income to rise by about 7%. However, the interest rate outlook shifted in the first quarter. Going in, Wall Street was anticipating rate cuts in the back half of the year. During the quarter, the rate outlook changed to rates holding steady. Only JPMorgan Chase didn't update its net interest income goals because its original view was for rates to fall late in the year. Thus, there was little impact from the new outlook, and any impact was expected to be offset by other parts of the business.
Interest rate expectations have changed again since the end of the first quarter, with higher rates increasingly likely as inflation has started to tick up. If interest rates rise, JPMorgan Chase could have an easier time hitting its 7% net interest income growth target. And, perhaps, it may even consider raising the target.
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That said, the same puts and takes that kept the company from raising its target after the first quarter may hold it to a cautious outlook when it reports second-quarter earnings. While the interest rate environment has shifted from negative to neutral to positive, geopolitical conflicts persist, inflation is still elevated, and the S&P 500 index (^GSPC +0.50%) remains near all-time highs. JPMorgan Chase might simply be happy that its net interest income target is easier to achieve and leave it at that.
JPMorgan Chase: Investors are already pricing in good news Even if JPMorgan Chase ups its net interest income target, investors may want to tread with caution. The stock's price-to-book ratio is 2.4x, compared with its five-year average of 1.8x. And its forward price-to-earnings ratio of 14x is well above its five-year average of 12x. In other words, the stock looks a bit expensive relative to its recent past, with investors appearing to have already priced in a lot of good news, perhaps even an interest hike or two.
JPMorgan Chase is an advertising partner of Motley Fool Money. Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase. The Motley Fool has a disclosure policy.
Destination-Focused Voyages Pair Small-Ship Access With Distinctive Shore Experiences Across Scandinavia, British Isles, Iceland, Greenland and Norway
Download high-resolution images here (Credit: Oceania Cruises)
, /PRNewswire/ -- Oceania Cruises® invites travelers to discover the dramatic landscapes, rich cultural traditions and lesser-explored coastal destinations of Northern Europe aboard its intimate, luxurious ships, offering a relaxing and elegant way to experience this captivating region.
Northern Europe Spotlight Sailing aboard Oceania Cruises' elegant, small ships, including Oceania Insignia™, Oceania Marina™ and Oceania Vista®, the 2027 Northern Europe season showcases the breadth and beauty of the region, featuring ports across the Baltic and Scandinavia, British Isles and Ireland, Greenland, Iceland and the Northern Fjords.
The lineup of itineraries reflects Oceania Cruises' commitment to destination-rich voyages, thoughtfully planned around Northern Europe's long summer days, seasonal traditions and ports best explored by sea. Its boutique ships call on destinations not always accessible to larger vessels, such as Rosendal, Norway; Stornoway, Scotland; Seydisfjordur, Iceland; and Karlskrona, Sweden, alongside iconic cities including Copenhagen, Reykjavik and Stockholm.
Across all these itineraries, guests can choose from a range of shore excursions designed to bring the region's smaller ports to life through local cuisine, culture, history and outdoor exploration. In Eidfjord, Norway, travelers can experience the Hardanger region's apple-growing traditions with a cider tasting amid the area's scenic landscapes. When in Visby, Sweden, guests can join one of Oceania Cruises' signature Culinary Discovery Tours™, exploring Swedish farm-to-table traditions, visiting various local farms in the region, followed by a seasonal lunch highlighting the island's sustainable ingredients. In Seydisfjordur, guests can travel by 4x4 through eastern Iceland's remote countryside to Brekka, the country's smallest town, set along a narrow fjord surrounded by waterfalls, seabirds and striking mountain scenery.
"Our Northern Europe voyages offer travelers an extraordinary way to experience one of the world's most sought-after regions during the best time of year to visit," said Jason Montague, Chief Luxury Officer of Oceania Cruises. "From the fjords of Norway to the cultural capitals of Scandinavia and the remote coastlines of Iceland and Greenland, these itineraries are designed for guests who want to see more of the region in a seamless and refined way. Traveling aboard our intimate ships offers unparalleled convenience, allowing guests to reach destinations that can be more challenging to explore independently – while only unpacking once."
Oceania Cruises' 2027 Northern Europe itineraries are part of the line's expansive array of global voyages, which feature more than 600 ports and over 250 unique itineraries each year. On board its elegantly appointed ships, guests can experience the hallmarks of Oceania Cruises, including attentive, personalized hospitality, a relaxed yet refined adults-only environment and The Finest Cuisine at Sea®.
Highlighted Northern Europe Voyages:
Baltic Beauty: 11-day voyage from Stockholm to Copenhagen, departing June 10, 2027, aboard Oceania Insignia. Guests will explore the Baltic's historic port cities and design-forward capitals, with calls in Helsinki, Tallinn, Riga, Gdansk, Karlskrona, Szczecin, Berlin (Warnemünde), Kalundborg and Kiel. The itinerary offers a mix of medieval old towns, coastal culture and extended time in select ports, including Berlin (Warnemünde) and Kalundborg. Castles of Ice & Stone: 14-day voyage from London to Copenhagen, departing June 22, 2027, aboard Oceania Marina. Explore the British Isles and Northern Europe, with calls in Glasgow, Londonderry, Stornoway, Scrabster, Aberdeen, Edinburgh, Bergen, Stavanger, Kristiansand, Lysekil and Gothenburg. The voyage combines historic cities, rugged coastlines, Scottish island communities and Norway's coastal scenery before concluding in Denmark. Landscapes of a Lifetime: 10-day voyage roundtrip from Reykjavik, departing July 4, 2027, aboard Oceania Insignia. This Iceland-focused itinerary traces the country's dramatic coastline, with calls in Heimaey, Djupivogur, Seydisfjordur, Siglufjordur, Akureyri, Isafjordur and Grundarfjordur, plus Tórshavn in the Faroe Islands. The sailing showcases volcanic landscapes, dramatic fjords, fishing villages and the stark natural beauty of the North Atlantic. Charms of Northern Europe: 11-day voyage from Paris to Copenhagen, departing July 16, 2027, aboard Oceania Vista. Visit a mix of iconic cultural capitals and coastal ports, with calls in London (Dover), Bruges, Amsterdam, Kristiansand, Oslo, Aarhus, Kiel and Helsingborg before concluding with an overnight stay in Copenhagen. The itinerary offers a broad look at the region, from historic cities and maritime culture to Scandinavian design, coastal scenery and Northern Europe's summer atmosphere. Fjords to Icelandic Vistas: 14-day voyage from Stockholm to Reykjavik, departing August 7, 2027, aboard Oceania Vista. This sweeping Northern Europe itinerary connects Baltic cities, Scandinavian coastlines and Icelandic landscapes, with calls in Visby, Rønne, Copenhagen, Gothenburg, Haugesund, Flåm, Bergen, Ålesund, Djupivogur, Husavik and Isafjordur. The sailing features a mix of historic towns, fjord scenery, coastal culture and North Atlantic beauty. Fabulous Fjords: 11-day voyage roundtrip from Reykjavik, departing August 8, 2027, aboard Oceania Marina. Exploring Iceland and Greenland, this voyage calls on Heimaey, Grundarfjordur and Isafjordur before scenic cruising through Prince Christian Sound, an overnight stay in Nuuk and a call to Narsaq. The itinerary highlights remote fjords, rugged coastlines and dramatic natural scenery. Rugged to Rustic: 12-day voyage from Reykjavik to London, departing August 19, 2027, aboard Oceania Marina. Tracing a route from Iceland to the United Kingdom, this sailing calls on Isafjordur, Akureyri, Djupivogur, Tórshavn, Lerwick, Måløy, Vik, Bergen, Haugesund and Stavanger before concluding in London (Southampton). The itinerary brings together Iceland's remote coastal towns, the Faroe and Shetland Islands, Norway's fjord country and historic maritime cities along the North Atlantic. For more information on Oceania Cruises' collection of small, luxurious ships and curated global itineraries, visit OceaniaCruises.com or call 855-OCEANIA.
About Oceania Cruises®
Oceania Cruises® is the world's leading culinary- and destination-focused luxury cruise line. The line's intimate, luxurious ships feature The Finest Cuisine at Sea® and destination-rich itineraries that span the globe. Expertly curated travel experiences are available aboard the designer-inspired ships, which call on more than 600 marquee and boutique ports in more than 100 countries on seven continents, on voyages that range from seven to more than 200 days. Oceania Cruises® has five Sonata Class ships on order scheduled for delivery in 2027, 2029, 2032, 2035 and 2037. Oceania Cruises® is a wholly owned subsidiary of Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH).
MIAMI, FL AND HOLLYWOOD, FL / ACCESS Newswire / June 12, 2026 / HEICO Corporation (NYSE:HEI.A)(NYSE:HEI) today announced that it increased its existing credit facility to a $2.2 billion unsecured revolving credit facility (the "Facility"), which is a $200 million increase to the Facility's previous $2 billion limit. The Facility is with a banking syndicate led by Joint Lead Arrangers Truist Bank, Bank of America, Wells Fargo, PNC, TD Bank, and Crédit Agricole. Other participating banks are Huntington, JPMorgan, RBC, and M&T Bank. Additionally, the Facility's maturity date has been extended to 2031.
HEICO's record-size Facility includes an accordion feature allowing it to be increased to $3 billion under certain circumstances. Borrowings under the Facility bear interest at the Secured Overnight Financing Rate ("SOFR") plus an applicable margin ranging from 75 to 125 basis points, which is indexed to HEICO's investment grade rating.
Proceeds from the Facility will be used primarily to fund acquisitions, as well as for general business purposes. Since 1996, HEICO has completed over 110 acquisitions and remains committed to its disciplined acquisition strategy.
Eric A. Mendelson and Victor H. Mendelson, HEICO's Co-Chairmen and Co-Chief Executive Officers, stated, "Expanding the credit facility to $2.2 billion gives us meaningful runway to keep doing what we do best: finding great businesses and welcoming them into the HEICO family. Our lenders have been with us through many of those acquisitions, and their continued support and partnership provides financial flexibility to efficiently respond to market opportunities and grow the business."
Carlos L. Macau, Jr., HEICO's Executive Vice President and Chief Financial Officer, added, "Extending the maturity to 2031 at attractive pricing reflects the strength of HEICO's balance sheet and cash flow. This is exactly the kind of low-cost, flexible capital that funds accretive growth while keeping our leverage conservative and our discipline intact."
HEICO Corporation is engaged primarily in the design, production, servicing and distribution of products and services to certain niche segments of the aviation, defense, space, medical, telecommunications and electronics industries through its Hollywood, Florida-based Flight Support Group and its Miami, Florida-based Electronic Technologies Group. HEICO's customers include a majority of the world's airlines and overhaul shops, as well as numerous defense and space contractors and military agencies worldwide, in addition to medical, telecommunications and electronics equipment manufacturers. For more information about HEICO, please visit our website at https://www.heico.com.
Certain statements in this press release constitute forward-looking statements, which are subject to risks, uncertainties and contingencies. HEICO's actual results may differ materially from those expressed in or implied by those forward-looking statements. Factors that could cause such differences include, among others: the severity, magnitude and duration of public health threats; our liquidity and the amount and timing of cash generation; lower commercial air travel, airline fleet changes or airline purchasing decisions, which could cause lower demand for our goods and services; product specification costs and requirements, which could cause an increase in our costs to complete contracts; governmental and regulatory demands, export policies and restrictions, reductions in defense, space or homeland security spending by U.S. and/or foreign customers or competition from existing and new competitors, which could reduce our sales; our ability to introduce new products and services at profitable pricing levels, which could reduce our sales or sales growth; product development or manufacturing difficulties, which could increase our product development and manufacturing costs and delay sales; cybersecurity events or other disruptions of our information technology systems could adversely affect our business; and our ability to make acquisitions, including obtaining any applicable domestic and/or foreign governmental approvals, and achieve operating synergies from acquired businesses; customer credit risk; interest, foreign currency exchange and income tax rates; and economic conditions, including the effects of inflation, within and outside of the aviation, defense, space, medical, telecommunications and electronics industries, which could negatively impact our costs and revenues. Parties receiving this material are encouraged to review all of HEICO's filings with the Securities and Exchange Commission including, but not limited to filings on Form 10-K, Form 10-Q and Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
Contact:
Victor H. Mendelson (305) 374-1745
Carlos L. Macau, Jr. (954) 744-7570
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
