#AI

Jim Cramer’s Charitable Trust has significantly increased its Intel stake, showing a strong bullish outlook. This move is driven by expectations of robust growth in Intel’s core CPU business, fueled by the accelerating adoption of agentic AI and a favorable CPU-to-GPU ratio shift in servers. Additionally, Intel’s foundry services are poised to benefit from companies seeking alternatives to TSMC, with potential endorsements like Elon Musk’s Terafab project further bolstering confidence.

SpaceX is acquiring AI startup Cursor for $60 billion in stock to accelerate its AI ambitions. Cursor, known for its AI coding tools, will enhance SpaceX’s competitive edge against rivals like Anthropic and OpenAI. The deal follows SpaceX’s record-breaking IPO and Elon Musk’s merger with xAI. The acquisition aims to bolster SpaceX’s frontier AI capabilities and is expected to close this quarter, pending regulatory approval.

SpaceX’s stock surged 9% following a strong IPO, building on a previous 20% gain. CEO Elon Musk projected revenues could reach $1 trillion by 2030. Despite current losses, the company’s dominance in satellite services and reusable rockets, coupled with its merger with xAI, signals strong long-term growth potential and investor confidence in its disruptive technologies.

Nvidia is reportedly planning a significant debt issuance, aiming to raise at least $20 billion, potentially reaching $25 billion. This move, its first major bond sale since the AI boom, will fuel its expansion alongside other tech giants. The funds will support general corporate purposes, including debt repayment and refinancing, while Nvidia continues aggressive capital return programs. This strategic financing highlights its confidence in future growth and leadership in the AI sector.

Salesforce acquired AI customer service platform Fin for approximately $3.6 billion. This move significantly boosts Salesforce’s Agentforce platform with advanced generative AI agent capabilities, allowing autonomous customer service across various channels. The deal signals a major acceleration in enterprise adoption of agentic AI solutions, intensifying competition in the tech sector.

Markets are set for a positive opening, driven by a potential Iran-US peace deal reopening the Strait of Hormuz and boosting oil prices. SpaceX’s IPO soared, valuing the company over $2 trillion. AI safety concerns led Anthropic to disable advanced models due to export controls. Meta faces pressure to monetize its AI investments, while JetBlue expands its Fort Lauderdale operations. Key economic data and a market closure for Juneteenth are also on the horizon.

Asian tech stocks rallied Monday, boosted by hopes of a US-Iran peace deal easing Middle East tensions. This geopolitical calm spurred a “risk-on” sentiment, benefiting companies like SoftBank, Samsung, and SK Hynix, driven by strong AI demand. Semiconductor giants TSMC and Foxconn also saw gains. The prospect of reduced supply chain risks and increased investor confidence underpins tech sector growth, with AI remaining a key investment theme.

Yat Siu, executive chairman of Animoca Brands, believes AI will unleash new job opportunities by liberating human creativity. As AI handles complex tasks, humans can focus on innovation, critical thinking, and coordination. Siu remains optimistic about AI’s potential, seeing it as a tool for progress rather than a threat, and Animoca Brands is actively building the Web3 infrastructure to support this transformation.

Once marked by personal rifts and competition, Elon Musk’s SpaceX and Google (Alphabet) have forged a symbiotic relationship. Initially, Musk co-founded OpenAI to counter Google’s AI dominance. Now, SpaceX is leasing significant AI compute capacity to Google, a role reversal from their inception. This evolving dynamic also spans autonomous vehicles and cloud computing, demonstrating a complex interplay of strategic investment and technological collaboration.

OpenAI is facing investigations from state attorneys general regarding its AI practices, including data handling and user safety. The company states it takes concerns seriously and is committed to responsible AI development. This scrutiny follows ChatGPT’s rapid rise and OpenAI’s massive valuation, with the company preparing for a potential IPO. Legal challenges also include lawsuits alleging harm caused by AI, prompting OpenAI to enhance safety features for vulnerable users.