Tech stocks tumbled amid concerns about AI momentum, with semiconductor shorts piling on as the winning trade reverses; investors cite rotation away from mega-cap AI leaders and summer weakness.

SpaceX IPO draws massive subscription interest exceeding available shares; OpenAI discreetly files for IPO, testing investor appetite for another mega-cap tech offering amid market turbulence.

Following Iran's downing of a U.S. military helicopter near the Strait of Hormuz, the U.S. conducted retaliatory strikes; Trump signals willingness to negotiate a deal with Tehran, but oil prices fell as markets assessed geopolitical risk.

New trustees' report projects Social Security retirement fund depletion by 2032, with inflation concerns adding pressure; May CPI data expected to show inflation above 4% for the first time in three years.

Super Micro announced a $7 billion financing amid booming AI server backlog, but stock tumbled as markets view the capital raise as signal of intense cash burn despite robust demand.

GlaxoSmithKline agreed to acquire Nuvalent for $10.6 billion, driven by patent cliff fears and opportunities to bolster oncology pipeline amid booming biotech dealmaking.

General Motors is pivoting to energy storage and next-generation sodium-ion batteries, betting on growth in AI data centers and energy infrastructure as EV sales show signs of weakness.

JPMorgan signaled readiness to deploy more powerful AI agents, suggesting autonomous AI systems are clearing security and governance barriers that have constrained corporate adoption.

Eric Trump and Donald Trump Jr. celebrated a $500 million payday from Alt5 Sigma deal, but the company's shares have collapsed 93%, highlighting risk to retail investors in Trump-branded ventures.

Rivian commenced deliveries of its all-important R2 SUV, designed to transform the automaker from niche luxury EV brand into mainstream competitor facing Tesla's price pressure.

May home sales rebounded to December highs as mortgage rates pulled back, though prices continued rising, signaling persistent housing strength despite broader economic uncertainty.

Apple stock declined after revealing AI-powered Siri enhancements at WWDC, though analysts see potential for historic upgrade cycle driven by hardware requirements.

Kalshi's new perpetual futures product grew to $1 billion in volume within one week, though the platform announced whistleblower services and employment verification to combat insider trading.

D-Matrix, a Microsoft-backed AI chip startup, began full production of a processor it claims is 10 times faster than GPUs while bypassing memory constraints.

Anthropic made its Mythos-like AI model available to the public two months after a private rollout rattled Wall Street, using new safeguards that restrict responses in sensitive areas.

Private equity giant Thoma Bravo declared the software sector downturn finished and predicted AI will become a powerful growth driver for SaaS businesses.

The U.S. House approved a $70 billion immigration enforcement package after prolonged debate, marking a legislative win for Speaker Johnson.

Marvell Technology surged on its addition to the S&P 500, part of a broader semiconductor sector recovery after recent weakness in chip stocks.

Memory chipmakers like Micron are driving a supply-chain supercycle, with chip-equipment companies gaining unprecedented visibility into customer demand forecasts.

Adobe's board appeared poised to name an internal successor to outgoing CEO Shantanu Narayen, amid investor expectations for more aggressive AI strategy.

Short positions in semiconductor stocks piled on as the previously dominant chip trade reversed, with investors betting against further gains.

Meta announced a major job training program guaranteeing employment offers for workers in skilled trades, supporting its data center expansion strategy.

LIV Golf confronts existential uncertainty as Saudi Public Investment Fund signals it will stop financing the league after 2026, threatening tournament schedule.

Boeing increased aircraft deliveries, bolstering confidence in the company's operational recovery and validating the restructuring strategy of CEO Kelly Ortberg.