Articles by Michael Okonkwo
SpaceX IPO Draws Record $250 Billion in Orders, Priced at $135
SpaceX's $75 billion IPO is 3.5x oversubscribed with $250 billion in orders, priced at $135 a share for a $1.75 trillion valuation. Starlink growth offsets a $4.94 billion net loss and 94x price-to-sales ratio.
Parabilis Medicines Rockets 58% in Nasdaq Debut After Record $670M IPO
Parabilis Medicines (PBLS) closed at $31.60 on its first trading day, a 58% jump from the $20 IPO price, after raising $670 million.
ERock Stock Falls Below IPO Price on NYSE Debut Amid AI Power Contract Doubts
ERock (EROC) fell 12.37% in its NYSE debut, closing at $18.84 as investors worried about its $1.28B AI data-center backlog.
Apollo and Blackstone Fuel Anthropic's $35B AI Compute Expansion Ahead of IPO
Apollo and Blackstone are funding a $35B AI compute expansion for Anthropic, which filed for an IPO after a $65B funding round valued it at $965B.
SpaceX IPO Oversubscribed by $175 Billion as AI Orbital Compute Hype Grows
SpaceX's $75 billion IPO has attracted over $250 billion in investor demand, but Morningstar values the stock 53% below the offer price, highlighting risks tied to Starship and orbital AI compute.
SpaceX IPO Draws Record Demand, Pressuring Tesla Shares
Tesla shares fell 3% as SpaceX's record-breaking IPO, with over $250 billion in demand, gives investors a new Musk-linked bet, potentially diverting capital from growth stocks.
Factorial Energy Debuts on Nasdaq, Shares Surge After SPAC Merger
Factorial Energy's stock jumped 16% to $13.80 in its first day of trading under the new ticker FAC following a SPAC merger that raised $100M for solid-state battery development.
Cerebras Surges on Bullish Analyst Coverage, AI Chip Demand in Focus
Cerebras Systems surged 18% Monday after at least nine Wall Street banks initiated coverage with bullish ratings, spotlighting the AI-chip maker's rapid rise as a test of AI hardware demand beyond Nvidia.
OpenAI Files for IPO as AI Race Intensifies
OpenAI has confidentially filed for an IPO, with key financials hidden until the S-1 goes public. The move comes amid rising AI competition and infrastructure costs.
Cerebras Surges 20% as Analysts Initiate Coverage, Highlighting AI Inference Demand
Cerebras shares surged 20% to $241.44 after analysts initiated coverage post-IPO, highlighting rapid demand for AI inference and key partnerships. Needham set a $300 target, with average analyst forecast at $295.