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Real-time News
On June 6th, company filings revealed that Google (GOOG.O) has agreed to pay SpaceX $920 million per month for computing power as part of a cloud services agreement that will last until mid-2029. SpaceX stated in a filing on Friday that Google will pay SpaceX monthly fees from October to June 2029, providing computing power including approximately 110,000 Nvidia GPUs, CPUs, memory, and other related components. The computing power will be gradually increased before September, with the fee decreasing accordingly. The filing shows that if SpaceX fails to deliver the agreed number of GPUs by September 30, 2026, Google has the right to terminate the contract and will have a one-month grace period. Furthermore, according to the agreement disclosed on Friday, either party has the right to terminate the agreement with 90 days notice.U.S. bank deposits rose to $19.333 trillion from $19.285 trillion last week.Standard & Poors affirmed Swedens credit rating at "AAA/A-1+" with a stable outlook.June 6th - According to the Financial Times, Meta Platforms (META.O) is considering raising tens of billions of dollars through a stock offering to seek new sources of capital to support Mark Zuckerbergs ambitious plans in artificial intelligence, following Googles record $85 billion stock deal this week. According to three sources familiar with the matter, executives at the social media company have been exploring "innovative" fundraising methods as the company plans to significantly increase its AI-related capital spending to as much as $145 billion this year, with further increases planned for 2027. The discussions have intensified following Alphabets successful funding round this week—which was driven by strong investor demand and increased by $5 billion from the original plan—sources said. However, Meta has not yet hired investment banks and may ultimately not issue new shares. One source cautioned that it is too early to say how the company has decided on its course of action, as all fundraising options are still under consideration.According to the U.S. Commodity Futures Trading Commission (CFTC), in the week ending June 2, speculators increased their net short positions in CBOT U.S. 2-year Treasury futures by 94,942 contracts to 1,350,188 contracts, U.S. 5-year Treasury futures by 46,091 contracts to 1,369,218 contracts, U.S. 10-year Treasury futures by 41,621 contracts to 829,575 contracts, and ultra-long-term Treasury futures by 27,868 contracts to 287,710 contracts.