Articles by Michael Okonkwo
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.
SpaceX IPO Set at $135, Retail Demand Surges Ahead of Nasdaq Debut
SpaceX plans to list on Nasdaq at $135 per share on June 12, with retail demand already double the shares available. The IPO values the company at $75 billion, but losses and valuation concerns loom.
Quantinuum Shares Dip Below IPO Price in Premarket Trading
Quantinuum shares dropped 2.52% in premarket trading, falling below their $60 IPO price after a $1.68 billion debut, as investors assess early-stage financials and quantum computing potential.
Fidelity Opens SpaceX IPO to Retail Investors with $2,000 Minimum
Fidelity slashes IPO access minimum to $2,000 for SpaceX, reserving up to 30% for retail investors. Allocations are set for June 12, but demand may outstrip supply and volatility is warned.