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SpaceX (SPCX) Sheds $600B in 3 Sessions, Down 20% From Peak — $20B Bond Debut Reveals Pre-Committed IPO Proceeds

SpaceX stock has fallen more than 20% from its post-IPO peak of $225, shedding over $600 billion in market value across three sessions, after the company priced a $20 billion investment-grade bond offering — revealing that the bulk of its $85.7 billion IPO proceeds were already committed to retiring a pre-existing bridge loan. A $6.3 billion compute deal with Reflection AI failed to offset investor concern over leverage at a company still posting net losses.

Alphabet (GOOG) Drops 7%, Loses $269B in Market Cap — Gemini Co-Lead Defects to OpenAI, Nobel Laureate Exits to Anthropic

Alphabet shed approximately $269 billion in market capitalization Monday — its largest single-day dollar loss on record — after Gemini co-lead Noam Shazeer announced a departure to OpenAI and Nobel Prize-winning DeepMind VP John Jumper disclosed his move to Anthropic, both within days of each other. The dual exodus raises pointed questions about Alphabet's ability to generate competitive AI returns on its $180 billion to $190 billion 2026 capital expenditure plan.

Oracle (ORCL) Cuts 21,000 Jobs — 13% of Workforce Eliminated as AI Deployment Cited Directly in Annual Filing

Oracle disclosed in its fiscal year 2026 annual report that it cut approximately 21,000 jobs over the past 12 months, reducing its global headcount by 13% from roughly 162,000 to 141,000 employees. The filing cited artificial intelligence deployment as a direct cause of workforce reductions and flagged further cuts as likely. Restructuring costs reached $1.84 billion, nearly five times the prior year's charge, even as Oracle simultaneously earmarks at least $50 billion for AI data center infrastructure.

AMC Entertainment Prices $200M Equity Offering at $2.10 — Stock Falls 23% Premarket as Dilution Hits Recent Meme Rally

AMC Entertainment priced a $200 million registered direct offering of 95.25 million shares at $2.10 per share to institutional investors, sending the stock down nearly 23% in premarket trading. The company plans to use net proceeds of approximately $189 million to redeem its $125.5 million in 6.125% Senior Subordinated Notes due 2027 and for general corporate purposes. The deal follows a $150 million at-the-market offering completed June 11, marking the second dilutive equity raise in under two weeks.

Micron Technology (MU) Faces June 24 Earnings Test at $1,133 All-Time High — Options Market Prices 17% Move on $34.5B Revenue Consensus

Micron Technology reports fiscal Q3 2026 earnings after the close on June 24, with consensus analyst estimates of $34.5 billion in revenue and $19.72 EPS — a 270% year-over-year revenue increase that would confirm Micron's transformation from commodity memory maker to AI infrastructure player. Options markets are pricing a 17% move in either direction, the largest implied swing ahead of any Micron earnings report in recent memory, as the stock enters the event at a record $1,133.99.

Nasdaq 100 Futures Slide 3.1%, Kospi Plunges 10% — Global AI Selloff Hits SK Hynix and Samsung as Rate-Hike Fears Mount

Nasdaq 100 futures fell 3.1% in premarket trading Tuesday while South Korea's Kospi plunged nearly 10% — its worst session in years — as a global technology selloff intensified overnight. SK Hynix fell more than 12% and Samsung Electronics dropped sharply, triggering circuit breakers on South Korean exchanges. European markets followed, with ASML down 5% and the Euro Stoxx Technology index falling 3%. The selloff reflects mounting investor concern over Federal Reserve rate-hike signals and the cost of AI infrastructure debt.

Micron Earnings Due June 24 2026 — AI Memory Demand Faces Critical Test for Semiconductor Rally

Micron's June 24 earnings report has become the most important near-term test for the artificial intelligence trade. Investors are watching whether AI server demand, high-bandwidth memory pricing, and hyperscaler spending remain strong enough to justify elevated semiconductor valuations. Strong results could reinforce confidence across AI infrastructure stocks, while weaker guidance may trigger profit-taking throughout the semiconductor sector after months of outsized gains driven by data center investment.

Brent Crude Falls Below $79 on June 22 2026 — Iran Negotiations Reduce Energy Risk Premium

Brent crude dropped below $79 per barrel as negotiations between the United States and Iran showed signs of progress. The decline reflects easing concerns about prolonged disruptions in the Strait of Hormuz, a key artery for global energy supplies. Lower oil prices could support consumer spending, reduce inflation pressure, and improve corporate profit margins, although investors remain cautious given the fragile nature of ongoing diplomatic discussions.

Federal Reserve Rate-Hike Odds Reach 75% for September 2026 — Higher Yields Pressure Growth Valuations

Markets are increasingly pricing in another Federal Reserve rate increase, with futures implying roughly a 75% probability of a move by September. Rising Treasury yields have pressured long-duration growth stocks and increased volatility across technology sectors. Investors are reassessing valuation assumptions while monitoring inflation data and central bank commentary. The evolving rate outlook could become a dominant driver of equity performance during the remainder of the summer.