Meta
7 posts
Xiaohongshu to file confidential Hong Kong IPO at $70B — 4× valuation in 18 months
Xiaohongshu plans a confidential Hong Kong IPO filing by end of June at a $70B target. The valuation has 4×'d in 18 months. Underwriters: Goldman, CICC.
Musk crosses $1T net worth on SpaceX IPO day — first trillionaire in history
SpaceX IPO opens June 12, ticker SPCX, +20% first day to a $2T valuation. Musk crosses $1.05T net worth — humanity's first trillionaire. 90%+ of it is locked for 366 days.
Google cuts its top security research team — same week it pitches AI security tools
Two weeks into Google Cloud layoffs, the Threat Intelligence Group (GTIG) was cut on June 3 — the same week Google Cloud Next launched new AI security products. Mandiant is also affected.
Amazon kills its AI leaderboard — staff inflated token use to climb
Amazon employees gamed internal AI leaderboards by burning tokens on pointless tasks — «Tokenmaxxing». Meta's «Claudeonomics» board logged 60 trillion tokens in 30 days. Uber blew its annual AI budget in four months.
Musk and Zuckerberg killed Trump's AI EO — even «voluntary review» was too much
Hours before signing, Trump shelved a voluntary 90-day federal AI safety review EO. Musk, Zuckerberg, and David Sacks called Trump directly — the accelerationist faction won even against voluntary review.
Meta cuts 8,000 — record revenue same quarter, $145B for AI
Meta started laying off ~8,000 on May 20, plus 6,000 unfilled roles cancelled (14,000 total reduction). Same quarter: AI infra capex of $125–145B planned. Free cash flow to drop ~80% to $8.5B.
SpaceX S-1 published — Musk himself listed as a risk factor
SpaceX's S-1 was made public this week. In the 330-page filing, Musk himself is listed as a risk factor. xAI is mentioned 356 times, Tesla 87, Boring Co. and Neuralink appear too.