On June 5, Bloomberg reported that underwriters for SpaceX's IPO have been instructed not to accept subscription orders from investors in mainland China and Hong Kong, citing U.S. restrictions on the export of critical technologies. This decision is driven by internal guidelines related to the U.S. International Traffic in Arms Regulations (ITAR), which aim to regulate the export of defense-related technologies and technical data.
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SpaceX Reportedly Prohibits Investors from China and Hong Kong from Participating in IPO
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Iran Denies Agreement to Transfer Enriched Uranium to Third Country
According to a report by Iran's Fars News Agency on the 5th, a source close to the Iranian negotiation team stated that reports from Saudi Arabian media claiming that Iran has agreed to transfer part of its enriched uranium reserves to a third country are false. The source mentioned that current negotiations between Iran and the U.S. do not involve nuclear-related issues, which have been postponed for discussion in future dialogues. (Xinhua News Agency) -
Canada Unveils Artificial Intelligence Strategy
On June 5, the Canadian government officially announced a new national artificial intelligence strategy called 'AI for All' on June 4. This strategy plans to invest billions of Canadian dollars in public funding, aiming to address the capital gap faced by high-growth domestic AI companies through key initiatives such as establishing a technology growth fund, expanding sovereign computing infrastructure, and strengthening legal regulations. The government will assist local enterprises in attracting commercial capital, retaining core talent and intellectual property, and enhancing global competitiveness by providing flexible capital and investment support, and even taking equity investment forms when necessary. -
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Morgan Stanley: SpaceX's Revenue to Reach $3.4 Trillion by 2040
On June 5, according to The Wall Street Journal: Morgan Stanley predicts that by 2040, SpaceX's revenue will reach $3.4 trillion. The company's adjusted EBITDA is expected to exceed $2.7 trillion by 2040. -
SpaceX Website Reportedly Blocks Access for Users in Mainland China and Hong Kong
On June 5, SpaceX, the largest IPO in history, is actively conducting its roadshow, but users in mainland China and Hong Kong are unable to access its official website and marketing documents, while users in most major Asian markets can browse normally. Tests show that whether in mainland China or Hong Kong, attempts to access the SpaceX website or read the prospectus result in an 'Error 1009' message, although users in Macau can browse as usual. According to cybersecurity provider Cloudflare, the most common reason for the 'Error 1009' is that the website owner (i.e., SpaceX) has actively set regional restrictions (Geoblocking) to block IP addresses from specific countries or regions. Tech industry insiders indicate that such blocking is usually a 'business or policy decision made by the company.' It is rare for large multinational corporations to impose a complete site blockade on Hong Kong. As a super unicorn integrating rocket launches, Starlink satellite networks, and artificial intelligence (AI) technology, SpaceX's IPO has become the focus of the global financial market: - Fundraising target: $75 billion, which will set the record for the largest IPO in history and become the first IPO in U.S. securities history to debut with a valuation exceeding $10,000 per share; - Company valuation: Post-IPO valuation is expected to reach $17.5 trillion, making it one of the top 10 largest publicly traded companies in the U.S. stock market. -
Founder of Research Affiliates: Mega IPO Wave May Weigh on U.S. Stock Market for Years
On June 5, Rob Arnott, founder of Research Affiliates, stated that mega IPOs from companies like SpaceX, Anthropic PBC, and OpenAI could divert hundreds of billions of dollars from existing stocks, potentially causing a prolonged drag on the broader stock market. This diversion effect may take time to manifest after S&P Dow Jones Indices decided not to quickly incorporate these large new stocks into the index. However, Arnott believes that as these companies gradually increase their weight in the index, their impact will naturally take longer to transmit to other parts of the market. Arnott, a pioneer in smart beta investing, has strategies adopted by institutions such as Pimco and Invesco. He remarked, 'This will disrupt capital markets, and it already is disrupting capital markets.' He is known for his research related to fundamental indexing, which determines index component weights based on metrics like earnings and cash flow. -
Whale Deposits 602.26 BTC into Binance After 5-Year Dormancy, Profiting $30.66 Million
According to monitoring by OnchainLens, a whale has deposited 602.26 BTC (currently valued at $37.81 million) into Binance after being dormant for 5 years, realizing a profit of $30.66 million. -
CSRC: Strengthening Regulation of State-owned Capital Funds to Ensure Functional Integrity
On June 5, a spokesperson for the China Securities Regulatory Commission (CSRC) answered reporters' questions regarding the 'Guiding Opinions on Strengthening Regulation to Prevent Risks and Promote High-quality Development of Private Investment Funds' issued by the General Office of the State Council. The focus is on improving the institutional framework, particularly addressing shortcomings in areas such as information disclosure, fundraising, and custody, to build a comprehensive regulatory system for private funds. The implementation of classified and tiered regulation will be reinforced, enhancing the ability for penetrating supervision and clue discovery, while strictly cracking down on illegal activities. There will be a strengthened normative management of state-owned capital funds to ensure they adhere to their functional positioning and prevent mismanagement, loss of control, and the erosion of state assets. -
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