Highlights for the morning: Iran threat, OpenAI and Perplexity's IPO plans, GSK's big deal
The head of Perplexity clarified the company's plans to go public in 2028 / Photo: miss.cabul / Shutterstock.com
Demand for the IPO of SpaceX with a valuation of about $1.8 trillion exceeded the supply: institutional investors applied for more than $10 billion. GSK is negotiating the purchase of biotechnology company Nuvalent for more than $9 billion to strengthen its oncology portfolio. These and other topics - in our review of key events by the morning of June 9.
Iran has threatened to resume strikes on Israel
Iran said it has stopped strikes against Israel, but will resume hostilities if the Israeli army continues attacks on the territory of Lebanon, CNBC writes. In response, Israeli Prime Minister Benjamin Netanyahu emphasized that the war against Iran and Hezbollah is not yet over. The sides exchanged rocket attacks on Sunday, June 7, and continued shelling each other's territories on Monday, after which the attacks stopped.
Oil prices, which had jumped due to a brief escalation, were declining on Tuesday, June 9. Futures for Mark Brent fell by 1.3% and traded at about $93 per barrel.
GSK is preparing its biggest deal in a decade
British pharmaceutical company GSK is in talks to buy biotech Nuvalent for more than $9 billion, the Financial Times reports. The deal could be concluded as early as this week and would be GSK's largest acquisition in more than a decade, and the second largest in the company's history after the exchange of assets with Novartis in 2014.
GSK's main interest is in Nuvalent's development against lung cancer, which is under review by a specialized US regulator. Analysts estimate that the two key drug candidates have the potential to generate combined annual revenues of around $823m by 2029, the FT points out.
OpenAI has filed a confidential IPO filing
ChatGPT developer OpenAI has confidentially filed for an IPO in the US, but has not yet decided on the timing of the listing. OpenAI announced its intention to go public following AI startup Anthropic, which was ahead of its competitor in terms of value. At the end of Ma, Anthropic closed a round of financing with a valuation of $965 billion. OpenAI was valued at $852 billion in Ma.
Perplexity has confirmed plans to go public in 2028
Aravind Srinivas, CEO of another AI platform, Perplexity, told CNBC that the company plans to launch an IPO in 2028 regardless of how successful the upcoming Anthropic and OpenAI offerings turn out to be. Previously, Srinivas had only said that Perplexity would not go public before 2028.
He said the listings of SpaceX, Anthropic and OpenAI will be an important test of investor demand for the largest tech companies, but Perplexity maintains its own exit timetable. Srinivas said Anthropic and OpenAI's high valuations are justified by their leadership in developing advanced AI models, but warned that the lack of notable technological progress over the next few months could call those valuations into question.
Demand for the SpaceX IPO has exceeded supply several times over
SpaceX's IPO, the largest in history, is in high demand: institutional investors have applied for more than $10 billion, which significantly exceeds the size of the offering, Bloomberg has learned. The company plans to sell 555.6 million shares at a price of $135 per paper, raise about $75 billion and get a valuation of about $1.8 trillion.
The order book for institutional investors is scheduled to close on June 10, and trading under the SPCX ticker on Nasdaq and Nasdaq Texas is scheduled to begin on June 12.
Pentagon lists Alibaba, Baidu and BYD as companies linked to China's military
The U.S. Defense Department has added Alibaba, Baidu, BYD and several other Chinese technology companies to a list of organizations that Washington believes are linked to China's military sector, CNBC reported.
The decision does not impose sanctions, but will limit the Pentagon's cooperation with them and their contractors. Alibaba and Baidu rejected the accusations and said they would seek to be removed from the list.
What's in the markets
- Japan's broad Topix index was up 1.1 percent, while the Nikkei 225 was up 2.1 percent.
- Hong Kong's Hang Seng index was little changed, while mainland China's CSI 300 index added 1%.
- In South Korea, the Kospi index soared 7.3 percent and the Kosdaq climbed 7.6 percent.
- Australia's S&P/ASX 200 lost 0.1 percent.
- S&P 500 futures rose 0.3 percent, Nasdaq Composite futures rose 0.6 percent, and Dow Jones Industrial Average exchange-traded contracts climbed 0.1 percent.
This article was AI-translated and verified by a human editor
