The AI and tech market enters one of the most dramatic days of the year: SpaceX begins trading on the Nasdaq at roughly a $1.75 trillion valuation in the largest IPO in history, against a backdrop of major news from Anthropic, Nvidia, and a wave of mega-rounds.
SpaceX lands on Wall Street
The SpaceX IPO (ticker: SPCX) is the defining event of the day. The company priced shares at $135 last night and raised approximately $75 billion — a record sum that underscores enormous institutional demand that was multiples of the supply. SpaceX reported $18.7 billion in revenue for 2025, up 33%, along with significant losses tied to its xAI initiatives.
SpaceX going public isn't just a milestone for the company. It signals a shift in the tech pecking order — a space company becoming a major AI player.
Anthropic opens the door to Fable 5
Anthropic launched Claude Fable 5 this week, the first publicly available version of its Mythos-class model. Fable 5 is available to all Pro, Max, and Team subscribers at no extra cost through June 22, after which it moves to $10 per million input tokens and $50 per million output tokens.
The model is Anthropic's most capable public release, outperforming Opus 4.8 on SWE-Bench (~95%) and excelling at complex reasoning. It requires roughly twice the compute of Opus, and the pricing has sparked community debate about accessibility versus performance.
Nvidia takes aim at the CPU market
While all eyes are on the SpaceX IPO, Nvidia continues expanding its reach. The company has begun pitching its new Vera CPU — built on Arm architecture with 88 custom Olympus cores — to clients in China. The chip is purpose-built for agentic AI workloads and delivers roughly 80% better performance than traditional x86 CPUs on such tasks.
The move opens a new front against Intel and AMD in a server CPU market Jensen Huang estimates at $200 billion, with China a key part of that forecast.
A funding wave no one is slowing down
This week saw several of the year's largest funding rounds:
- Supabase — $500 million Series F at a $10.5 billion valuation, led by GIC. The open-source data platform continues riding the AI boom.
- Flourish — $500 million early-stage round at a $2.5 billion valuation, backed by Jeff Bezos, Lux Capital, and GV. The company builds brain-inspired AI models.
- Suno — $400 million Series D at a $5.4 billion valuation for the AI music generation startup.
- Generalist AI — $400 million for robotics AI from Radical Ventures.
Stanford's PAI26 concludes today
The Physics and AI conference (PAI26) wraps up at Stanford after three days exploring the deep intersections between physics and AI — from physics-informed neural networks to using physical principles to improve deep learning architectures.
Google Gemma 4 12B — AI on your laptop
Google released Gemma 4 12B, an open multimodal model that runs on consumer hardware with 16GB of RAM. It handles text, images, and audio with a 256K token context window and approaches the performance of much larger models. The release continues the trend of accessible, on-device AI.
The bottom line
Today marks a symbolic inflection point: a private space company becomes the largest public company ever, with AI as the economic engine behind the move. Meanwhile, Anthropic opens a frontier model to the public, Nvidia attacks the CPU market, and capital flows at a pace the industry has never seen. This week goes into the books — and the days ahead promise to be just as eventful.
