Tomorrow's the big day: SpaceX lifts off into public markets at a roughly $1.8T valuation. It might be a boon for investors who get in on the ground floor. But it will definitely be one for those who’ve been in from the basement.

The IPO is set to mint some of the largest paper gains in venture history. Ron Baron turned a $2B stake into roughly $12B, and Washington University's decade-old $50M flier now anchors more than 10% of its endowment.

Turns out calling a unicorn is rocket science.

— Brooks & Cas

Elon Musk's new SpaceX pay package tops out at $1.1T. But it’s contingent on milestones, like a million-person Mars colony. (SpaceX itself labels it improbable.)

Bettors are not waiting for the rockets, they are already pricing how rich the world's richest man gets before 2027.

The colony can wait, but the compounding can’t.

📈 | Intel (INTC) was double-upgraded to Buy at BoA (BAC), citing agentic AI fueling CPU demand.

📈 | Viasat (VSAT) won a multi-year US Space Force satellite contract.

📉 | Adobe (ADBE) touched a fresh 52-week low ahead of its fiscal Q2 report.

📈 | General Dynamics (GD) was upgraded to Buy at Jefferies (JEF).

📈 | Alcoa (AA) rebounded after Morgan Stanley (MS) called its selloff overdone.

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The FIFA World Cup 2026 kicks off today, poised to be biggest betting event in history. Bernstein analyst Ian Moore thinks DraftKings is its clearest winner.

The edge is marketing muscle. A multi-year NBCUniversal (CMCSA) tie-in plus Telemundo's exclusive Spanish-language rights hand DraftKings' Spanish-language app a direct pipeline to the country's most soccer-obsessed, highest-intent bettors.

Moore also expects the tournament to boost DraftKings' prediction markets arm, which hit $1.3 billion in annualized consumer volume in May, up 24% from April.

That’s still small next to Kalshi and Polymarket, but progress in an arena that has weighed on the stock.

Per a BoA report, 3 in 5 bettors in legal states plan to wager on the tournament, and nearly one in five will be placing their first bet ever.

Oppenheimer (OPY) analyst Jed Kelly, who also rates the stock a Buy, calls the Cup a dress rehearsal for the prediction market flood set to arrive with NFL season this fall.

🕊️ | President Trump canceled planned evening strikes on Iran after saying talks were approved by Iranian leadership, sending stocks up and oil down.

🏛️ | Trump formally nominated former SEC Chair Jay Clayton as the next director of national intelligence.

🤖 | OpenAI will acquire cloud startup Ona to let its Codex coding assistant take on longer-running tasks.

🚗 | Alphabet's (GOOGL) Waymo launched an invite-only $29.99 monthly Premier tier in San Francisco, Los Angeles, and Phoenix.

💾 | Elon Musk addressed ASML (ASML) employees as SpaceX courts the sole supplier of the lithography machines its planned Terafab chip plant will need.

Do you own any shares of Cava Group (CAVA)?

▇▇▇▇▇▇ 🐂 Yup, I’m holding

▇▇▇▇▇▇ 🐻 Nope, not interested

▇▇▇▇▇▇ 👀 No, but I’m interested

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