💰 SpaceX's multi-billion-dollar deal

SpaceX's insider deal could value it close to ByteDance | Chipmaker Micron couldn't live up to lofty expectations | [Finimize](   TOGETHER WITH     Hi {NAME}, here's what you need to know for June 28th in 3:14 minutes.   🗳️ You're busy deciding who to vote into power – that's no small task. So join us for the [Election Special: What Investors Need To Know Before Voting]( with IG at 12pm on July 3rd, and let the experts do the heavy lifting for your portfolio. [Grab your free ticket]( Today's big stories - SpaceX’s latest offer could make Musk’s venture the world’s second-highest-valued private company - Morgan Stanley picked its nine favorite stocks for AI’s next wave – [Read Now]( - US chip giant Micron announced better-than-expected results, but not even that could keep swift-footed investors around Tender Loving Shares [Tender Loving Shares] What’s going on here? SpaceX will [sell]( insider shares in a tender offer, at a price that could make Elon Musk’s space and satellite venture the world’s second-highest-valued private company. What does this mean? A tender offer is when an investor proposes to buy shares directly from shareholders, usually at a premium price to convince them to part with their stakes. That not only acts as a public vote of confidence, but the prospective price tag gives the rest of the world a peek at how much a company may be worth. And this time, SpaceX shares could end up being sold at $112 each, suggesting a valuation of roughly $210 billion. That’s way higher than the $180 billion figure floated in December. In fact, it’s enough to put Musk’s company on the silver podium spot. SpaceX isn’t far behind the prevailing champ, either: TikTok’s parent company ByteDance is worth $268 billion, so maybe Musk just needs to swap tweets for two-steps. Why should I care? The bigger picture: The not-so-terrible twos. Big-money investors seem hooked on disruptive tech companies these days. SoftBank’s Vision Fund 2, for one, is considering funneling a ton of cash into Perplexity. The tech-focused investment fund believes the US-based AI startup could steal screen time from even established giants like Google. That investment forms part of a wider $250 million funding round, which triples Perplexity’s valuation to $3 billion. That’s one of the highest valuations in the industry – not too shabby for a two-year-old startup. For markets: For the few, not the many. Mind you, a lot of the tech hype is hidden away in private circles right now. Out in the harsh light of Wall Street, Goldman Sachs revealed that hedge funds are “aggressively” offloading their tech stocks, especially those related to semiconductors. Software and internet stock are being kicked to the curb, too. So either private companies are stealing the limelight, or the AI trend is losing steam. You might also like: [Two places where Einstein would invest right now](. Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Tender Loving Shares&utm_campaign=daily-global-28-06-2024&utm_source=email) Analyst Take The Next Wave Of AI Plays, According To Morgan Stanley [The Next Wave Of AI Plays, According To Morgan Stanley]( [Photo of Stéphane Renevier, CFA] Stéphane Renevier, CFA, Analyst If you’ve ever seen a backyard swimmer do a masterful [“cannonball”](, you know that the big swells it creates eventually flow over the outer edges of the pool, one after another. Well, that’s a good way to think about [AI and its investment ripples](. And if [Morgan Stanley]( were at your pool party, it’d tell you that information services companies will be part of the next wave of firms making a stock splash. Here’s how you can [get in]( and get your feet wet. That’s today’s Insight: [Morgan Stanley’s got nine favorite stocks for AI’s next wave](. [Read or listen to the Insight here]( SPONSORED BY LUCA FALONI It’s a linen shirt summer There’s a reason the shirts and sandals you bought on vacation in Rome still look as good as new. Italian craftsmanship is designed to last – but obviously, you can’t book a flight or a tailor appointment every time you need a new outfit. But if you know where to shop, you can pick up [sharply tailored clothing made from luxurious, top-quality materials]( – all without spending thousands for an office outfit. Luxury menswear brand Luca Faloni only uses [the best natural materials]( – think linen, silk, and cotton – all crafted by expert Italian regional artisans, building on generations of expertise. And because Luca Faloni maintains fair pricing by using an [innovative direct-to-consumer approach](, you can build your summer wardrobe without having to sell your winter one. [Check out Luca Faloni for affordable, high-quality menswear]( – just be prepared for all the questions about where your new linen garms are from. [Find Out More]( When you support our sponsors, you support us. Thanks for that. If you want your brand featured here, [get in touch.]( Chip And Dip [Chip And Dip] What’s going on here? Micron Technology [revealed]( better-than-expected results, but demanding investors still ditched the biggest US memory chip maker. What does this mean? On paper, Micron’s last quarter looked like a doozy. The chipmaker’s revenue shot up 82% over the year to nearly $7 billion, making for better-than-expected profit. And confident that the results were far from a fluke, Micron predicted that this quarter’s profit would be slightly higher than the average analyst believes. But it seems Micron was a victim of its own success. The company’s shares are up more than 60% this year – and like parents to a child prodigy, investors are now expecting results worthy of the honor roll. So despite a solid report card, Micron’s shares tumbled 7% on Wednesday. Why should I care? Zooming out: Skin in the game. Micron’s cutting-edge memory chips are crucial for AI systems, slotting into the graphics processing units that Nvidia is known for. That means the chipmaker is at the center of the AI feeding frenzy – so much so that its results tend to set the mood for the whole chip sector, indicating demand for a range of companies in the industry. They’ll be delighted with Micron’s projections, then: it’s confident that chipmakers will keep recovering this year, and even pull off record sales next year. And that sort of demand is why Micron projects higher prices for its own AI-focused gizmos and gadgets in the years to come. The bigger picture: Just can’t get enough. The issue with Micron wasn’t just that investors got overly excited. See, they’d effectively already “priced in” their predictions, so anything below what they’d hoped for would see the stock pulled down a little. Nowadays, it’s not enough to buy a popular stock with decent fundamentals – investors need to make sure that it isn’t overhyped. And in the age of AI, that could be easier said than done. You might also like: [The big risk for AI investors](. Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Chip And Dip&utm_campaign=daily-global-28-06-2024&utm_source=email) 💬 Quote of the day "Always live in the ugliest house on the street – then you don't have to look at it." – David Hockney (an English painter) [Tweet this]( The events that every investor should know about Every investor should be keeping up with [global elections](. The outcome can directly dictate a country’s fiscal policies, which feeds straight into [stock market performances]( – and that impact isn’t always localized. So with the UK and France headed to the polls soon, you need to know how different outcomes could play out, what the market expects, and what happens if those predictions are wrong. And most importantly, you should know [how to prepare your portfolio before it all goes down](. Join IG’s chief market analyst Chris Beauchamp at our next event, then, and [find out what investors need to know before the votes are counted](. [Find Out More]( 🥇 First Place Portfolio Diversifier For 2024 Inflation doesn’t always do exactly what economists and central bank policymakers expect. And in times like that, you might want to have a chunk of your portfolio in [commodities](. There's a ton of them out there – but for Goldman, it doesn't get better than [gold](. [Here’s why the bank sees the metal outshining its commodity peers](. [Read The QuickTake]( 🎯 On Our Radar 1. Sub-zero. What it’s like to work in a [storage facility]( that operates below freezing. 2. Bitcoiners and gold bugs both believe their favorite investment towers above the rest. Here's why [mixing the two could spell good news]( for your portfolio.* 3. There’s something in the water. This Pacific island is surrounded by [supersized sharks](. 4. Only investing in stocks is like only ever eating tomato pasta for dinner. [Multi-asset investing]( can help you craft a portfolio that truly suits your tastes.** 5. Dine and dash. One in 20 Brits have [left a restaurant without paying](. *Stocks is a derivative product offered by Change Securities B.V. that replicates the performance of your favourite companies’ shares - full or fractional. **See important disclosures [here](. 🌍 Finimize Live 🤩 Grab your tickets... 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