If anyone in tech has already started their Hot IPO Summer, it’s Silicon Valley’s elite wealth advisers. Two private wealth managers who work with high-net-worth techies told me they’ve seen an uptick in activity from their client base, some of whom are expecting a big liquidity event this year. We’re talking, of course, about the … Read more
One thing that seems certain about the SpaceX IPO is that it’s going to make lots of people very, very rich. Another is that you probably won’t be one of them. At least not any time soon. There’s extraordinary interest in Elon Musk’s rocket-and-AI company’s public debut, and for good reason. SpaceX was already the … Read more
Brian Manning encountered SpaceX’s culture of extreme ownership from day one as an engineer at the rocket maker. After a one-hour onboarding session a decade ago, he got his first assignment: Design a small part by the next day. “The way I looked at it is having very clear responsibility, autonomy, and accountability,” says Manning, … Read more
Brian Barrett: Noah, you are a celebrated, venerated national security journalist. You are. You have covered national security for a long time and you have covered, for lack of a better word, real spy stuff. You’ve been deep in it. How does that compare to this in terms of source handling in terms of the … Read more
SpaceX, Elon Musk’s behemoth company that launches rockets and runs data centers, is set to go public Friday with a target valuation above $1.75 trillion. The move will make Musk, already the richest man in the world, vastly wealthier. A public offering will allow SpaceX to raise even more money to fund its AI ambitions, … Read more
OpenAI has filed confidential paperwork for an initial public offering, the company announced on Monday, kicking off what could be a months-long process toward debuting on a US stock exchange. The move makes it the third company to file for what could be a trillion-dollar IPO this year. Tech companies pursuing the most powerful AI … Read more
OpenAI and Anthropic have battled for workers, customers, and public attention. The rival AI labs have been on opposite sides of policy proposals, and their CEOs were the only ones not to link hands among a dozen industry leaders at a business summit earlier this year. But they do have one big area of overlap: … Read more
Few things are more valuable in the Bay Area than real estate. In San Francisco, the median house price is now over $2 million. Last month, at least seven houses in the city sold for $1 million over the asking price, and buyers regularly offer to pay in cash or waive contingencies to stay competitive. … Read more
Zoë Schiffer: Deviance and freaks, the new name of our podcast. And this is, I mean, just going back to red teaming, that’s work that a trust and safety team typically does. And those teams— Leah Feiger: We don’t have those anymore. Zoë Schiffer: They’re not as big as they used to be. There’s just … Read more
Quantinuum lost nearly $200 million last year, saw revenue drop the first quarter of 2026, and says its technology may never work–yet investors are clamoring to buy the stock. The quantum-computer maker boosted the price and number of shares it will issue on the Nasdaq ahead of its public debut on Thursday, indicating higher-than-anticipated demand. … Read more