US says it will speed development and use of AI for national security
WASHINGTON, June 5 : The White House said on Friday it would accelerate the development and use of AI for national security applications, while stressing that the technology should not be used to carry out unlawful surveillance.The Trump administration said earlier this week that it would ask leadin ...
Chip selloff erases over $1 trillion in stock market value
June 5 : U.S.-traded chipmakers plunged on Friday, losing over $1 trillion in market value, with deep losses in AI heavy hitters including Nvidia, Micron Technology and Advanced Micro Devices, as Broadcom's weak report earlier this week reverberated across Wall Street.The PHLX chip index slumpe ...
SpaceX IPO running at two times oversubscribed, sources say
NEW YORK, June 5 : - SpaceX has drawn investor demand that is about double the $75 billion it is seeking to raise next week in its IPO, or $150 billion, said two people familiar with the matter on Friday. An oversubscription rate of two times would be considered modest for most highly anticipated ma ...
SpaceX signs cloud deal with Google
June 5 : SpaceX said on Friday it has entered into a multi-year cloud service agreement with Alphabet's Google for access to compute capacity.As part of the deal, Google will pay SpaceX $920 million per month from October this year to June 2029, with capacity ramping up through September at a r ...
SpaceX lands Google AI compute deal after Anthropic pact ahead of IPO
June 5 : SpaceX said on Friday it has entered into a multi-year cloud services agreement with Alphabet's Google, locking in computing capacity as it prepares for its highly anticipated U.S. stock market debut next week.As part of the deal, Google will pay SpaceX $920 million monthly from Octobe ...
Trump says his team will "look into" US taking stake in AI companies
WASHINGTON, June 5 : U.S. President Donald Trump on Friday told reporters that his team is looking into the idea of AI companies giving the American public a stake in their firms, adding that he planned to host a meeting with AI executives as soon as next week. "There's something very inte ...
Meta weighs big equity raising to finance AI infrastructure, FT reports
June 5 : Meta is considering raising tens of billions of dollars in a stock offering as it seeks new sources of capital to fund the company's AI ambitions, the Financial Times reported on Friday.The report comes after Alphabet moved to raise $84.75 billion in upsized equity offerings, as Big Te ...
Texas grid flags risks as data centers, crypto sites fail voltage tests
June 5 : Several large data centers and crypto facilities planning to connect to the Texas power grid ahead of peak summer demand have failed key reliability tests, raising the risk of power outages just as electricity use hits its seasonal high, according to the state grid operator.The rapid expans ...
Explainer-Why SpaceX faces a longer wait to join S&P 500
June 5 : SpaceX's entry into the S&P 500 will take longer after S&P Dow Jones Indices declined to relax rules for megacap IPOs, delaying billions in passive fund inflows from the potential inclusion.The decision keeps several barriers intact. To join the S&P 500, a company must trad ...
Analysis:Global oil inventories depleted, next price spike could roil economies, markets
HOUSTON/NEW YORK, June 5 : Global oil inventories are running dangerously low as a deal to re-open tanker traffic through the Strait of Hormuz has proven elusive, and industry executives and analysts warn there could be another oil price shock in the coming weeks, severe enough to upset broader fina ...
Bitcoin's star fades, as investors flock to lustre of AI and megacap IPOs
LONDON, June 5 : Bitcoin is heading for its worst performance for this point in the year in at least a decade, as booming AI stocks and a series of glittering upcoming new listings such as SpaceX lure away capital from the world's largest cryptocurrency. Its price has tumbled around 15 per cent ...
Greece to tax gains from crypto, sources say
ATHENS, June 5 - Greece is preparing legislation to impose a 15 per cent capital gains tax on cryptocurrencies, two government officials with knowledge of the issue told Reuters on Friday.Greece doesn't have a comprehensive legal framework for taxing cryptocurrencies, and European Union countri ...
LinkedIn co-founder Reid Hoffman to step down from Microsoft's board
June 5 : Reid Hoffman, billionaire co-founder of networking website LinkedIn, has decided not to stand for re-election to Microsoft's board of directors at its 2026 annual shareholder meeting, the software giant said in a filing on Friday. Hoffman, who has served on the board since 2017, will s ...
Two leaks detected on International Space Station, Russian space agency says
MOSCOW, June 5 : Russian state space agency Roscosmos said on Friday that its experts had detected two leaks aboard the International Space Station (ISS) but that there was no immediate threat to the crew."When the transition chamber compartment of the Zvezda module was pressurised... specialis ...
International Space Station astronauts in evacuation mode as Russia attempts to fix widening air leak
WASHINGTON, June 5 : Astronauts aboard the International Space Station were ordered by NASA to shelter in their spacecraft and prepare for potential evacuation on Friday as a Russian crew attempts to fix a worsening leak of air on its portion of the orbital laboratory, NASA said.The four astronauts ...
S&P 500, Nasdaq slip at open after solid jobs data fuels hawkish Fed fears; chip stocks fall
[NEW YORK] The S&P 500 and the Nasdaq dropped at market open on Thursday as chip stocks eased after a sharp rally,...
Jefferies expects S-REITs to enter DPU growth cycle
Goola Warden - A Jefferies report dated June 3 says S-REITs are entering the first genuine distribution per unit (DPU) growth cycle in nearly a decade. Lower local interest rates should feed into DPU in the form of lower finance costs as three-month Sora has been hovering around the 1.02% to 1.08% range for the pa ...
Singapore investors keep funds with Moomoo, Tiger Brokers, Longbridge amid China curbs
All three brokerages assure users in Singapore that business continues as usual
Fund manager Amova raises stake in Frencken to above 6%
Teo Zheng Long - Frencken (SGX: E28 ) announced that its substantial shareholder, Amova Asset Management, has acquired 1,007,800 shares back on June 2. In the SGX filing dated June 5, the shares were purchased for a total consideration of $2,638,650.96, which excludes brokerage and stamp duties. This translates to a ...
Morgan Stanley expects SpaceX revenue to hit $3.4 trillion in 2040, WSJ reports
June 5 : Morgan Stanley is projecting that SpaceX's revenue could reach $3.4 trillion in 2040, the Wall Street Journal reported on Friday, citing people familiar with the matter.The Wall Street giant is anticipating that revenue from SpaceX's AI business will dramatically grow in the comin ...
JPMorgan upgrades Tesla to ‘neutral’, expects robotics to drive long-term growth
The bank hikes its price target on the electric-vehicle maker’s shares to US$475 from US$145
UMS signs pact for joint venture with three Vietnamese precision engineering firms
Shikhar Gupta - UMS intends to invest about US$3.6 million for a 51.6% stake in the new company
Chinese, HK investors banned from SpaceX IPO on security grounds: sources
The decision is driven by internal guidance related to US International Traffic in Arms Regulations
California to decide soon whether it will seek to block Paramount deal
June 5 : California Attorney General Rob Bonta will soon decide whether to sue to block Paramount's $110 billion acquisition of Warner Bros, he told Reuters in an interview, adding that in general he views any corporate promises to address antitrust concerns as better when backed up by potentia ...
India's GDP growth estimated at 7.8% in January-March
NEW DELHI, June 5 : India's economy grew at an unexpectedly strong 7.8 per cent on-year in the January-March quarter, the government said on Friday, as better farm output and brisker construction activity helped offset weakening external demand emanating from the Middle East conflict.The print, ...
India's GDP stays robust in January-March as domestic demand offsets external weakness
NEW DELHI, June 5 : India's economy grew an unexpectedly strong 7.8 per cent year-on-year in the January-March quarter, the government said on Friday, as robust private investment, farm output and construction activity offset the early impact of the Middle East conflict.The print, the second in ...
India's GDP grows 7.8% in January-March on resilient farm, construction output
NEW DELHI, June 5 : India's economy grew at an unexpectedly strong 7.8 per cent on-year in the January-March quarter, the government said on Friday, as better farm output and brisker construction activity helped offset weakening external demand emanating from the Middle East conflict.The print, ...
Global equity fund inflows at 3-week high as AI optimism boosts sentiment
June 5 : Global equity fund inflows surged to a three-week high in the week to June 3 as a set of robust earnings in the technology sector and investor enthusiasm over the AI boom bolstered demand.According to LSEG Lipper data, global equity funds attracted a net $21.44 billion during the week, the ...
Singtel lands S$28 million funding from government for AI push
Young Zhan Heng - The telco will partner DISG in a move that can help Singapore strengthen its AI sovereign capabilities
Singtel gets funding boost from government to strengthen AI push, create high-value roles
Young Zhan Heng - Telco will partner Digital Industry Singapore in a move that can help the Republic strengthen its artificial-intelligence sovereign capabilities
Singtel gets funding boost from government to strengthen AI push, create ‘high-value AI-related roles’
Young Zhan Heng - Telco will partner Digital Industry Singapore in a move that can help the Republic strengthen its artificial-intelligence sovereign capabilities
Singapore stocks close lower, tracking Asia sell-off; STI still ends week higher
The benchmark index falls 0.4% to close at 5,049.96
Malaysia banks signal caution despite resilient Q1 results
Tan Ai Leng - Their asset quality remains healthy, though they are watching for signs of slower credit demand ahead
Blacklisted AI company Anthropic, White House ease tensions ahead of IPO, sources say
June 5 : A months-long dispute between Trump administration officials and AI firm Anthropic is showing signs of easing across parts of the U.S. government as the company prepares to go public, according to sources familiar with the relationship. The relationship ruptured earlier this year after Anth ...
