Space Exploration Technologies Corp. Class A Common StockSpaceX shares tumbled 16.4% after announcing plans to enter the investment-grade bond market, wiping out over $600 billion in market value.
President Donald Trump signed executive orders Monday aimed at accelerating quantum research, laying the groundwork for federal agencies to adopt the technology and strengthen U.S. defenses against cyberattacks. The orders are intended to cement the U.S. as the world leader in this emerging field, Trump said at the White House. In other market-moving news, SpaceX shares tumbled 16.4% to $154.60 on Monday, extending a three-day slide to 23% and wiping out more than $600 billion in market value, after the company announced plans to enter the investment-grade bond market. Nvidia's stock underperformance is coinciding with a growing prediction among Kalshi traders that prices for its flagship AI chips will continue to decline, with the B200 compute cost falling from a three-month high of $6.11 per hour on May 30 to $4.22 by June 21. Apollo Global's $26 billion private credit fund, Apollo Debt Solutions, is curbing redemptions at 5% of its shares after investors sought to withdraw approximately 16.8% of the total, resulting in net outflows worth about 3% of the fund's asset value so far this year. SoftBank Group founder Masayoshi Son dismissed the idea of building data centers in space, saying the main advantage would be slashing electricity costs, which are a small fraction of operating expenses compared with hardware like chips.
Space Exploration Technologies Corp. Class A Common StockSpaceX shares tumbled 16.4% after announcing plans to enter the investment-grade bond market, wiping out over $600 billion in market value.
NVIDIA CorporationKalshi traders predict continued decline in prices for Nvidia's flagship AI chips, with B200 compute cost falling.
Apollo Global Management LLC Class AApollo Global's private credit fund is curbing redemptions after significant withdrawal requests, indicating liquidity stress.