The Weekly Scramble

SpaceX is targeting an Initial Public Offering (IPO) on June 12, with a planned fixed share price of $135
SpaceX is targeting an Initial Public Offering (IPO) on June 12, with a planned fixed share price of \(\$135\). This record-setting debut will value the company at approximately \(\$1.8\) trillion and raise about \(\$75\) billion in new capital. Once trading begins, the stock will list on the Nasdaq under the ticker symbol SPCX. [1]
Prior to the IPO, secondary markets (such as Forge Global and Hiive) calculated implied valuations and trading prices for pre-IPO shares, which were recently tracking between \(\$129\) and \(\$157\) per share.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump’s team pushes for new $250 bill with his face on it.
Key administration officials are pushing the Treasury Department’s Bureau of Engraving and Printing to design a $250 banknote with Trump’s image, the Washington Post reported.
Should the Treasury Department move ahead with the plan, it would mark the first time a living person’s face was slapped on a greenback since 1866.
The $250 note would be a nod to America’s 250th birthday this year.
Under the Thayer Amendment, which passed in 1866, it is illegal to put the likeness of a living person on official US currency, bonds, or other financial notes.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Gov Tim Walz and Minneapolis Mayor Jacob Frey completely embarrassed themselves on Memorial Day yesterday .
From Liz Collin of Alpha News:
NEW: While Minnesota Governor Tim Walz made time to visit George Floyd Square to dance today, multiple people with direct knowledge of Fort Snelling’s Memorial Day program confirm he did not attend, despite appearing in the program to speak.
“We are supposed to honor our heroes, and he blows off the veterans? What a slap in the face,” one attendee said.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

School graduation celebrations have gotten completely out of control!!
The founder of Feeding Our Future was sentenced to over 41 years (500 months) for her role in the sprawling fraud scheme on Thursday morning.
Aimee Bock, 45, was convicted on all counts following a more than six-week federal jury trial last year.
Prosecutors asked the judge to sentence Bock to 50 years in prison, while her attorney asked for either time served or a maximum of 37 months.
The former prosecution team, Joe Thompson, Harry Jacobs, Matthew Ebert and Daniel Bobier, attended the sentencing. Joining them were law enforcement who worked on the case, and even several jurors from the six-week trial.
Top federal officials on Thursday announced prosecutions against 15 defendants accused of defrauding government services.
Assistant Attorney General Colin McDonald, the head of the Department of Justice’s Fraud Enforcement Division, said the charges brought this week targeted “shocking” schemes that reaped $90 million in taxpayer funds.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Blackstone, the world’s largest private owner of data centers, will invest $5 billion in equity capital in a new artificial intelligence infrastructure company with Google, the New York-based asset management firm announced Monday.
Google will supply the new U.S.-based company with its tensor processing units — chips purpose-built for processing artificial intelligence computations — bringing the first 500 megawatts of compute capacity online by 2027, with “plans to scale significantly over time,” Blackstone said in a statement.

“This new company has enormous potential as it helps to meet the unprecedented demand for compute,” Jon Gray, President and COO of Blackstone, said in the statement.
The unnamed company will be helmed by Benjamin Treynor Sloss, who most recently served as Google’s chief programs officer. A Google spokesperson declined to comment on whether Google would retain a direct leadership role in it.
The Wall Street Journal, which first reported on the joint venture before Blackstone’s official statement, said the private equity giant would hold a majority stake, citing sources familiar with the matter.
Blackstone did not disclose the venture’s ownership structure in its statement, and did not respond to CNBC’s request for comment by publication time.
The Journal also reported that the joint venture has already identified likely data center locations, some of which are under construction.

Blackstone, which manages more than $1.3 trillion in assets, has invested aggressively across the AI ecosystem and, earlier this month, established a similar venture with Anthropic.
Shares of Alphabet and Blackstone rose by about 1% in pre-market trading on Tuesday.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.