- Moby
- Posts
- charity: water | June 28th, 2024
charity: water | June 28th, 2024
 |  |
Today's insights are courtesy of charity: water, a nonprofit organization on a mission to bring clean water to the 703 million people living without it.
| Market | Day | Month | Year |
|---|---|---|---|
| Dow | ▲0.09% | ▲0.25% | ▲15.48% |
| S&P | ▲0.09% | ▲3.05% | ▲25.42% |
| Nasdaq | ▲0.30% | ▲4.81% | ▲31.83% |
| Bitcoin | ▼1.58% | ▼10.99% | ▲102.12% |
| 10-Year | ▼0.19% | ▲1.05% | ▼3.29% |
GOOD MORNING
Here's everything you need to know this week: SpaceX has boosted its tender offer, raising the company's valuation to nearly $210 billion amid strong investor demand. This move comes after securing an $843 million NASA contract, reinforcing SpaceX's critical role in future space missions and unmatched technological credibility.
OpenAI has inked a content deal with Time, gaining access to over 100 years of articles to enhance its AI model training. This partnership aims to ensure compliance with copyright laws and secure high-quality data for AI development, setting a new standard in the industry.
VanEck has filed for a Solana ETF following Solana’s recent price surge and strategic collaborations with PayPal and Google Cloud. Solana’s robust applications in gaming, payments, and trading make it an attractive candidate, highlighting its potential to revolutionize decentralized finance.
Let’s dive into more detail below.
SPACE
SpaceX Boosts Tender Offer Setting New Valuation to Nearly $210 Billion
With NASA’s $843 million contract solidifying SpaceX’s critical role in future space missions, their enhanced technological credibility continues to go unmatched
BREAKING NEWS
Elon Musk’s SpaceX (SPACE) has increased the pricing for its tender offer to $112 per share amid strong investor demand, valuing the company at nearly $210 billion. The earlier discussed pricing for insider shares would have valued SpaceX at around $200 billion.
Additionally, NASA recently awarded SpaceX an $843 million contract to build the vehicle that will deorbit the International Space Station when its lifespan ends in a few years.
WHAT HAPPENED
SpaceX’s decision to raise its tender offer price reflects robust market confidence in its long-term growth prospects and its dominant position in the aerospace industry. The company’s ambitious projects, such as the Starlink satellite internet service and the development of the Starship spacecraft, have been pivotal in attracting substantial investor interest. Furthermore, the recent $843 million contract from NASA to deorbit the International Space Station underscores SpaceX’s critical role in future space missions and technological capabilities.
This contract highlights SpaceX’s strategic importance to national and international space endeavors. The increased valuation and the prestigious NASA contract collectively enhance SpaceX’s reputation and financial stability, positioning it as a leading force in the rapidly evolving space sector.
| Clean Water Changes Lives |
Clean water changes everything. Funding a water project for a community, health clinic, or school is one of the best investments you can make.
It gives people a chance to build a foundation.
When you fund a water project with charity: water, 100% of your donation funds clean water. As your project is constructed, charity: water keeps you updated with reports, photos, and GPS coordinates.
AI
OpenAI Inks Content Deal with Time for Over 100 Years of Articles
OpenAI’s partnership with Time ensures a steady stream of high-quality data crucial for AI model training
BREAKING NEWS
OpenAI and Time have announced a “multi-year content deal” granting OpenAI access to over 100 years of current and archived articles from Time’s extensive history.
This partnership is crucial as OpenAI and other AI companies need more high-quality data to train their models.
Additionally, this agreement is an effort to ensure compliance with copyright laws and secure legal access to valuable content.
WHAT HAPPENED
With this deal, OpenAI can display Time’s content within its ChatGPT chatbot in response to user inquiries and utilize Time’s content to enhance its products, according to a press release. OpenAI’s use of Time’s content will include citations and links to the source, ensuring proper acknowledgment and redirection. In addition, Time will have access to OpenAI’s technology to develop new products for its audiences, demonstrating a mutually beneficial arrangement.
OpenAI announced a similar deal with News Corp. in May, which granted OpenAI access to current and archived articles from News Corp.’s outlets, including The Wall Street Journal, MarketWatch, Barron’s, and The New York Post. Additionally, Reddit partnered with OpenAI in May, allowing the company to train its AI models on Reddit content.
AI companies, including OpenAI, face numerous lawsuits over alleged copyright violations. In December, The New York Times filed a suit against Microsoft and OpenAI, alleging that their journalistic content was unlawfully used in ChatGPT training data, seeking billions in damages. Similarly, in 2023, prominent U.S. authors, including Jonathan Franzen and George R.R. Martin, sued OpenAI for using their works without consent. There are many such cases, and this move appears to be yet another olive branch for OpenAI to train their models legally but, more importantly, correctly.
CRYPTO
VanEck Files for Solana ETF as Solana’s Price Surges
Solana’s robust applications in gaming, payments, and trading make it an attractive candidate for VanEck’s new ETF
BREAKING NEWS
VanEck, one of the pioneering issuers of spot Bitcoin exchange-traded funds (ETFs) in the United States, has filed for a new Solana ETF.
Following the announcement, Solana’s price surged by nearly 10%.
This development comes from Solana’s recent collaborations with PayPal, which launched a stablecoin on Solana and Google Cloud.
Solana, trading as low as $8 in early January 2023, is now trading above $145.
WHAT HAPPENED
VanEck has announced the VanEck Solana Trust, designed to leverage Solana’s decentralized nature, high utility, and economic feasibility. The trust is the first Solana ETF filing in the United States. According to VanEck’s SEC filing, the VanEck Solana Trust is set to be listed on the Cboe BZX Exchange if approved. The fund aims to mirror Solana’s price performance, excluding operational expenses, using the MarketVector Solana Benchmark Rate index for daily share valuation based on the top five SOL trading platforms.
This filing follows the recent U.S. SEC approval of spot Ethereum ETFs, marking ETH as a commodity rather than a security.
Matthew Sigel, VanEck’s Head of Digital Assets Research, cited Solana’s open-source nature, scalability, speed, and cost-effectiveness as critical factors for the ETF, noting that it offers a competitive alternative to Ethereum without relying on sharding or layer-two solutions.
YESTERDAY | Here’s what you missed |
1. Nvidia's Blackwell Could Be 'Most Successful Product' in History, CEO Jensen Huang Says
Nvidia's CEO Jensen Huang announced at the company's annual shareholder meeting that the new Blackwell chip could become Nvidia's most successful product ever, emphasizing its pivotal role in the AI revolution.
2. Amazon's $2 Trillion Market Cap, Consumer Spending Trends
Amazon has joined the exclusive $2 trillion market cap club. CEO Dax Dasilva discusses how inflation is affecting consumer spending patterns, with significant impacts on the tech giant's financial strategy.
3. Micron's Selloff Shows Risk of Sky-High AI Expectations
Following disappointing profit and revenue forecasts, Micron Technology experienced a significant selloff, highlighting the inherent risks of high expectations in the AI chip market.
4. Amazon Enters $2 Trillion Club
Amazon has officially reached a market capitalization of $2 trillion, joining an elite group of companies. The stock's recent surge is attributed to the company's robust AI investments and consumer trust.
5. Boeing Faces Whistleblower Allegations Over 787 Dreamliner Safety Issues
Richard Cuevas, a former Boeing mechanic, has filed a whistleblower complaint regarding substandard repair work on the 787 Dreamliner, prompting investigations and raising significant safety concerns.
6. Walgreens Slashes Profit Guidance Amid Challenging Environment
Walgreens announced a downward revision of its profit forecast and plans to close several underperforming stores. The move comes as the company faces a challenging retail environment and declining pharmacy margins.
7. SpaceX Valued at $210 Billion Based on Tender Offer
SpaceX has achieved a valuation of $210 billion according to a recent tender offer, solidifying its position as one of the most valuable private companies in the world.
8. Rivian Investors Seek Profit Path Details at Investor Day
At its recent investor day, Rivian outlined its strategies for cost reduction and upcoming models. Investors are particularly interested in how the company plans to achieve profitability amidst the competitive EV market.
9. Tesla Ordered to Stop Releasing Toxic Emissions from San Francisco Bay Area Plant
Tesla has been ordered to address air quality issues at its San Francisco Bay Area manufacturing plant after over 100 violations for releasing toxic emissions. This order mandates significant operational changes.
10. SM Energy Announces $2 Billion Acquisition in the Uinta Basin
SM Energy has agreed to acquire assets in the Uinta Basin for $2 billion. This strategic acquisition is expected to enhance the company's production capabilities and shareholder value.
| |
Today's insights are courtesy of charity: water, a nonprofit organization on a mission to bring clean water to the 703 million people living without it.
Friends of Moby
Please support our partners who help make this daily report possible
Simplify Wine Shopping with Wine Insiders
Shop premium wines without the markup. Wine Insiders' curated selections and free shipping on 6+ bottles make wine buying easy. Explore regions, varietals, and collections for a personalized experience.
Tackle your credit card debt with 0% interest until nearly 2026
If you have outstanding credit card debt, getting a new 0% intro APR credit card could help ease the pressure while you pay down your balances. Our credit card experts identified top credit cards that are perfect for anyone looking to pay down debt and not add to it.