SPACEX IPO MAKES ELON MUSK THE WORLD'S FIRST TRILLIONAIRE
Most of Musk's wealth now rests with SpaceX, where he holds a stake worth roughly $866 billion. Along with Tesla and the rest of his properties, his net worth will exceed $1.1 trillion when the stock begins trading Friday, according to Forbes and Reuters calculations based on company filings.
OPENAI WINS THE TRIAL AGAINST ELON MUSK.
- Musk argued that OpenAI “stole a charity” by converting into a for-profit company after he donated tens of millions to help launch it.
- OpenAI’s defense claimed Musk knew about and supported the for-profit plans early on, and only turned against the company after losing influence and later starting his competing AI company, xAI.
Looks like OpenAI just cleared one of their biggest hurdles to going public.
$TSLA $SPCX
BREAKING: A newly-released OGE Form 278-T discloses that President Trump filed 3,642 trades involving stocks of public companies between January 1st and March 31st.
Our team has sorted and analyzed the thousands of transactions.
Transactions include hundreds of stocks and ETFs such as Nvidia, Microsoft, Broadcom, Amazon, Apple, Alphabet, Meta, Goldman Sachs, AMD, Airbnb, Palantir, Netflix, Costco, Walmart, JP Morgan, DoorDash, and others.
Individual purchases of Nvidia, Microsoft, Broadcom, Amazon, Apple, and others ranged from $1 million to $5 million in disclosed value.
Individual purchases of AMD, Goldman Sachs, Alphabet, Airbnb, DoorDash, Micron, Stryker, and others ranged from $500,000 to $1 million in disclosed value.
President Trump also reported hundreds of stock sales ranging from $15,000 to up to $25 million.
Should we produce a detailed breakdown of President Trump’s stock purchases and sales?
More details to come.
Reporter: "To what extent are Americans' financial situations motivating you to make a deal?"
President Trump: "Not even a little bit…I don't think about Americans' financial situations."
MORTGAGE RATES CLIMB TO ONE-MONTH HIGH, PRESSURE HOUSING MARKET
U.S. mortgage rates rose to 6.37%, their highest level in a month, according to Freddie Mac, adding pressure to an already weak spring housing season.
Rates briefly dipped below 6% earlier this year but have climbed again amid geopolitical uncertainty, including the Iran conflict, pushing some buyers to the sidelines.
Higher borrowing costs are slowing sales, increasing price cuts in weaker markets, and undermining expectations for a strong spring rebound.
BREAKING: Several whistleblowers say that Axios coordinated news with market insiders, leaking CME order information via phone calls up to 30 minutes before market open and close prints. Crude oil short positions were also taken just before today's Axios report on a "US-Iran deal" and "14-point deal," gaining substantially as oil dropped sharply on the news.
Iranian political analyst Mohammad Marandi also says Trump, Witkoff, Kushner, and their close associates profited heavily in the past hours from fake news provided to Axios.
$IREN is acquiring Mirantis for ~$625M in stock to strengthen the software layer behind its AI cloud platform.
Mirantis brings Kubernetes orchestration, 1,500+ enterprise customers and $NVDA AI Cloud Ready ties as IREN scales GPU deployments.
$IREN up more than 10% after energizing its 1.4 GW Sweetwater 1 data center site in Texas & connecting it to the ERCOT grid.
Power ramps as new data centers come online turning Sweetwater turns into another large-scale AI campus where secured power capacity is the real asset.
A 25 year old just turned $225 million into $5.5 billion in 12 months.
Here’s exactly what he bought.
Leopold Aschenbrenner got fired from OpenAI in April 2024.
He spent the next few months writing a 165-page thesis predicting AGI by 2027.
Then he launched a fund and put his money where his thesis was.
He bought zero Nvidia. Zero Microsoft. Zero Google. Zero Amazon.
He bought what AI actually runs on.
Bloom Energy (BE), power infrastructure for data centers. Up 1,422% in one year.
Lumentum (LITE), optical components that move data between chips. Up 1,331%.
Sandisk (SNDK), storage. Up 3,130%.
CoreWeave (CRWV), GPU cloud infrastructure. Up 166%.
Iris Energy (IREN), AI computing and data centers. Up 583%.
The thesis was simple: every AI company needs energy, bandwidth, storage, and compute.
Nobody was buying those. Everyone was buying the AI companies themselves.
He was right.
His fund now manages $6 billion. Backed by Patrick and John Collison of Stripe and former GitHub CEO Nat Friedman.
I’m adding this to my watchlist.
Every time he files a new 13F, we will break it down here.
Turn on notifications so you don’t miss the alert, this is VERY important.
Many people will wish they followed us sooner.
POWELL: I WILL BE STAYING ON THE FED AS GOVERNOR AFTER MY TERM AS CHAIR IS DONE
when asked why he's not retiring, Powell said he was going to but the DOJ investigation left him "no choice but to see things through" and stay on
basically a middle finger to Trump