SpaceX has agreed to buy up to 14 MHz of paired 800 MHz spectrum from Grain Management for Starlink Mobile, subject to FCC approval. Terms were not disclosed; the Wall Street Journal put the price at about $8bn, and carrier shares fell in the US and Australia.
Airtel Money made its debut on the London Stock Exchange on Friday at a valuation of about £5.3bn. Shares touched £2.00, then eased under the £1.96 offer price. The valuation is below the $8bn to $9bn range that had been estimated.
Masayoshi Son is seeking as much as $100bn from Gulf investors for a fund that would buy companies and run them with AI, the FT reports. He raised nearly that much for the first Vision Fund in 2017. This time SoftBank already has almost $65bn in OpenAI.
Nik Storonsky says a primary US listing was always the target if Revolut goes public, though not before 2028. In the meantime he wants credit cards and loans in America that match JPMorgan's and American Express's, once Revolut has a full banking charter.
OpenAI has told investors its annualised revenue was approaching $50bn at the end of September, about $20bn below the figure in circulation. The gap comes from how the number is counted rather than from lost sales, but it still knocked the stocks whose order books lean on OpenAI.
Alphabet's robotaxi company has closed a $5bn term loan, its first borrowing, with PIMCO, Blackstone and Sixth Street leading a lender list that spans bond funds and private credit. The deal started at more than $3bn and grew.
Firmus, the Nvidia-backed AI data centre builder, closed the books on its Australian float on Thursday without a clear price, Bloomberg reported. Maas Group, which owns 3.2 per cent of it and supplies it, lost about A$517m of market value instead.
SpaceX wants $10bn of bank loans and $30bn of investment-grade debt to buy Nvidia chips, with Apollo leading. Its $25bn bond sale in June is already trading well below par.
Blaize, the AI chip company that listed through a SPAC last year, says it booked about $0.5m of revenue in the third quarter and cut its outlook again. The full-year number now depends on a customer that has paid $0.2m of a $13.3m bill due in September, and on inventory the company needs cash to buy.
DayOne, the Singapore data-centre builder that began inside China's GDS, has filed for a Nasdaq listing. Its prospectus says one short-video company supplies most of its revenue, two of its customers are on the Pentagon's Chinese military list, and members of Congress have already called it China-linked.
Micron will pay Netlist $600m over five years to end every case between them, six days after Netlist asked the ITC to block Micron's high-bandwidth memory and named Nvidia, Broadcom and Google as respondents.
Schneider Electric is paying $205 a share in cash for PTC, the largest deal in its history. PTC's shares rose by a third. Schneider's fell by a tenth, and on Tuesday J.P. Morgan downgraded it.
The joint venture half-owned by the New York Stock Exchange's parent has filed its notice under the SEC's tokenised-stock exemption. Its prices will come from Uniswap pools rather than the stock market, a single key can pause them, and one company has already said no.
The SEC rewrote its quorum rule on Wednesday and made the change effective on Friday, the day it went from three members to two. On any matter from which one of the two is disqualified, the other can now act for the commission alone.
Data-centre securitisations have grown from $4bn outstanding in 2020 to $61bn this year. Follow the chain past the private credit funds and it ends on balance sheets whose liabilities run for decades and whose assets, increasingly, cannot be sold.
The British data-centre developer has disclosed $103bn of contracts ahead of its New York listing. Microsoft and Anthropic account for 85 per cent of it, and $2.6bn is live.
ICE plans a tokenised trading venue for 2027 that pairs the exchange's own matching engine with blockchain settlement. The incumbent has decided to compete rather than object.
Three venues filed on the same day to offer contracts on Tesla and Nvidia that never expire. The instrument was built offshore for crypto; it is now asking to be domesticated.
Goldman and Citizens read the SEC's tokenised-stock order and came to the same conclusion: the venues built for crypto gain, the incumbent exchanges barely notice.
The long bond cleared at its highest auction yield since 2001 — and the sale itself went well, which is the part the headline misses.
A unanimous quarter-point increase was the expected part. The projections were not: no cuts in 2027, and a higher resting place for rates after that.
The Commission proposes to repeal the rule that lets shareholders put proposals on a company's ballot, arguing it never had the authority to write it.
The benchmark closed above the line for the first time since 2007, a day before a Fed decision the futures market now treats as all but settled.
The ten-year sits at 4.975% with a Federal Reserve decision this week. The thirty-year has already crossed five and nobody is discussing it.
A regulator-run pilot placed corporate debt for three issuers on distributed ledger infrastructure. The investor counts are the part worth reading.
Yields at a level that would normally end a rally have not ended this one. The explanation on offer is that the buying is coming from inside the technology sector.
Brent at a four-month high pushed global yields to multi-year peaks and sent equities down, with the supply disruption running through two chokepoints at once.
The Treasury tripled the size of its long-bond repurchase and the market still wanted more. Ten-year yields closed at their highest since October 2023.
The new platform matters less for what it launches than for what it is built on: a repo system already settling tokenized real assets at institutional scale.
VisaNet settlement records are being wired into onchain credit facilities, so a card programme's receivables can be underwritten while they are still in flight.
An amended clearing requirement follows Canadian and Mexican interest rate benchmarks to their replacements, closing a chapter of the reform that began with LIBOR.
A proposal would add rules, amend others, rescind one, and rewrite both Form TA-1 and Form TA-2 — the registration and reporting forms for the firms that maintain the record of who owns what.
Official purchases have run at record levels through falling prices, which is what distinguishes a reserve decision from a trade.
Listing volumes look like a full recovery. A handful of enormous names carry the number, and the queue behind them has not moved.
Companies are issuing more debt than at any point on record and paying historically little for it. Both facts are true at once, which is the puzzle.
A strategy that earns pennies on enormous size only works while the financing is nearly free. Regulators are considering making it cost something.
Money market funds hold record balances. For fifteen years cash was what you held between decisions; it is now a decision.
The most widely held index in the world has become a concentrated position, and the mechanism that concentrated it is the buying itself.
Taxing unrealized paper values would punish the investment that builds companies, misfire on valuation, and raise far less than promised. Europe already ran this experiment.
Central clearing mandates are reshaping the world's most important market, and dealers, funds, and platforms are repositioning around the new pipes.
Money market funds and private credit are leading the migration of real assets onto shared ledgers, with custody and legal finality the remaining battlegrounds.
On-chain money market products are absorbing idle balances across trading firms and protocols, knitting public debt into digital asset plumbing.
Recurring-revenue loans, data-driven monitoring, and fund structures built for scale are turning software lending into an asset class of its own.
Letting margin move in minutes instead of days is the rare blockchain application with unanimous institutional demand, and infrastructure providers are competing to supply it.
Dozens of specialist providers rented scarce accelerators at premium prices; falling scarcity is now sorting operators from arbitrageurs.
Structured tenders for employees and early investors are normalizing partial liquidity, changing when companies must exit at all.
After the rate transitions, scrutiny is moving to the indexes, prices, and reference data that quietly steer trillions.