Good morning.
The Fast Five → Anthropic files for IPO, Alphabet to raise $80B for AI goals, Nvidia's new superchip takes aim at AMD and Intel, AI revolution is ‘50x bigger’ than the dot-com boom, and short seller Andrew Left found guilty of securities fraud…
📌 Elon's $480 Trillion Currency Masterplan: He's waited 27 years for this moment. Elon Musk just launched his biggest disruption ever, which could totally reset how millions of people access their money and even pay tax. Here's exactly what to buy to profit →
(from InvestorPlace)
Calendar: Full Calendar »
Today:
JOLTS Job Openings, 10:00A
Tomorrow:
ADP Non-Farm Employment, 8:15A
ISM Services PMI, 10:00A
Your 5-minute briefing for Tuesday, June 2:
BEFORE THE OPEN
As of market close 6/1/2026.
Pre-Market:
Market Wrap:
Futures lower Dow -122, S&P -0.2%, Nasdaq -0.3%
S&P +0.26%, Nasdaq +0.42%, Dow +46 hit fresh records Monday
Nvidia-led tech rally continues powering markets higher
HPE +26% after strong earnings and raised guidance
S&P posts ninth straight weekly advance momentum
Iran threatens to fully block Strait of Hormuz
Today: JOLTS job openings and retail earnings due
EARNINGS
Here’s what we’re watching this week:
Today: Ulta Beauty $ULTA ( ▼ 1.59% )
Dollar General $DG ( ▼ 0.62% ) - $1.88 EPS (+5.6% YoY) on $10.81B revenue (+3.6% YoY)
WED: Macy’s $M ( ▲ 0.18% ), Five Below $FIVE ( ▼ 0.5% ), Petco $WOOF ( ▲ 1.66% )
Broadcom $AVGO ( ▲ 2.96% ) - $2.39 EPS (+51.3% YoY) on $22.08B revenue (+47.2% YoY)
THU: Lululemon $LULU ( ▲ 0.69% )
I Paid $5,000 to Hear Elon Say This
I recently paid $5,000 to be in a room with Elon Musk in Los Angeles.
And what he said in that room, confirmed everything my 15+ years in the tech industry had been telling me.
I believe what Elon is launching right now — a project 27 years in the making — could be his biggest move yet.
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HEADLINES
Anthropic PBC has confidentially submitted draft paperwork for a public listing, potentially leapfrogging longtime rival OpenAI in the race toward a Wall Street debut as soon as this fall.
As part of the fundraising push, Berkshire Hathaway will buy $10 billion of stock through a private placement.
Wall St ends higher, boosted by tech gains, US-Iran peace hopes (more)
Iran stops negotiations with US, vows to ‘completely’ block Hormuz (more)
Trump to drop plans for $1.8B anti-weaponization fund (more)
SEC defends Musk settlement over Twitter (more)
Union Pacific execs privately deny talks with Trump over 15% stake (more)
US manufacturing activity at four-year high (more)
Oil jumps more than 7% on report Iran halts talks with US (more)
Threats to dollar rebound emerge (more)
SpaceX sets aside 5% of IPO shares for selected buyers, waives lock-up (more)
For Goldman’s top bankers, it’s all AI data centers all the time (more)
AI revolution is ‘50x bigger’ than the dot-com boom: SoftBank’s CEO (more)
McDonald’s unveils new growth strategy to win back customers (more)
Short seller Andrew Left found guilty of securities fraud (more)
Barry Diller’s People Inc. plans a takeover bid for MGM Resorts (more)
DEALFLOW
M+A | Investments
Elliott buys stake in top Australia gold miner Northern Star
Autodesk to buy MaintainX for $3.6B
Velosio acquires Domain 6
Asana acquires StackAI
OuterSignal acquires Monocle
DIMAAG acquires Akridata
Dragos buys Phosphorus Cybersecurity
HES Facilities Management receives majority investment from GI Partners
Celito Tech receives investment from Achieve Partners
Maxwell Power receives $750M investment from Fairtide Partners
CardsHQ and Sports Card Investor merge and receive strategic growth investment
VC
Anthropic, a developer of frontier AI systems and the Claude AI model, raised $65B in Series H funding
XCENA, a provider of memory-centric computing solutions for AI infrastructure, raised $135M in Series B funding
Picogrid, a defense tech company building the open integration layer for modern military systems, raised $45M in Series A funding
Gray Swan, a developer of AI security platforms, raised $40M in Series A funding
Sekai, a consumer creation platform for AI-generated software, raised $26M in Seed and Series A funding
Veritas Aortic Solutions, a medical device company and an inQB8 Spinout, raised $12M in Seed funding
Human Archive, a data platform modeling human embodied intelligence, raised $8.2M in Seed funding
SpeedLabs, a real-time market engine for sports, raised $6.5M in Seed funding
CRYPTO
BULLISH BITES
🤖 Why it matters if OpenAI or Anthropic wins the IPO race.
⏳ At the age of 84, Barry Diller is reinventing himself all over again.
💰 The exclusive retreat where wealthy kids learn how not to blow an inheritance.
😱 What happens when someone you love changes their face?
DAILY SHARES
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