SpaceX shares rose sharply in their Nasdaq debut after the company raised $75 billion in the largest IPO on record. The listing values Elon Musk’s company at about $1.77 trillion while analysts question its profitability and AI-driven valuation.
Posts tagged as “The Securities and Exchange Commission”
President Donald Trump said he will nominate Jay Clayton, the U.S. attorney for the Southern District of New York and former SEC chair, as director of national intelligence. Trump urged the Senate to confirm Clayton quickly as his acting pick, Bill Pulte, faces criticism on Capitol Hill.
OpenAI said it has submitted a confidential S-1 filing, giving the ChatGPT maker the option to pursue an IPO. The move follows similar filings by Anthropic and SpaceX as major AI companies seek more capital for computing power and model development.
Anthropic has confidentially filed for a U.S. IPO, setting up a potential public-market debut near a $1 trillion valuation. The Claude maker is moving as OpenAI and SpaceX also prepare major listings.
SpaceX files for an IPO without specifying fundraising goals, revealing financials and plans across space, satellite internet, and AI sectors.
The U.S. Supreme Court heard oral arguments on Wednesday in the case of SEC v. Jarkesy, which could have sweeping consequences for the power of federal agencies to enforce the law. The case centers around the Securities and Exchange Commission's (SEC) ability to take enforcement actions outside of the court system. During the oral arguments, the justices questioned the government lawyer about stripping the SEC of some of its enforcement discretion. The outcome of the case could have a major impact on the power of federal agencies to enforce the law, and a ruling is expected in the coming months.
The Supreme Court heard arguments on Tuesday in a case challenging the Consumer Financial Protection Bureau's (CFPB) funding mechanism, which is provided directly by the Federal Reserve. The plaintiffs, two trade groups representing payday lenders, argue that this is unconstitutional. Both conservative and liberal justices seemed skeptical of the plaintiffs' theory, with Justice Stephen Breyer noting that the CFPB's funding structure is similar to other independent agencies. The outcome of the case will have a significant impact on the CFPB's ability to protect consumers from predatory lenders.