Keep pulling the thread on Patrick Boyle.
According to a Reuters report, Elon Musk negotiated with Nasdaq for a fast-tracked index insertion for SpaceX, threatening to list on the NYSE otherwise.
SpaceX is targeting a $2 trillion valuation for its upcoming IPO, which would rank it among the largest companies in the S&P 500.
Patrick Boyle characterizes the SpaceX IPO as questionable due to its planned, near-instantaneous forced inclusion into the Nasdaq 100 index.
At its target IPO valuation, SpaceX would have a 4.5% weight in the NASDAQ 100 index.
SpaceX is targeting an IPO valuation of 125 times sales.
NASDAQ changed its index inclusion rules to accommodate SpaceX's IPO, a move Patrick Boyle considers questionably ethical.
GQG Partners believes markets are being complacent about the risk of a prolonged high-oil-price environment resulting from the conflict with Iran.
Microsoft and OpenAI have officially renegotiated the terms of their partnership.
Under the renegotiated deal, OpenAI is now permitted to partner with other cloud providers, such as Amazon Web Services, to sell its products.
As part of the new agreement, Microsoft no longer has to pay a revenue share to OpenAI from its cloud sales of OpenAI products.
Microsoft will maintain its 27% ownership stake in OpenAI as part of the renegotiated partnership.
Microsoft's access to OpenAI's technology will now end on a fixed date in 2032.