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IREN signed a record $50 million sponsorship with the Golden State Warriors as AI cloud firms look for visibility beyond the data-center world. Nvidia, meanwhile, is taking share in data-center Ethernet switches, another sign that AI spending is reshaping not just chips, but the networking layer around them.
OpenAI is reportedly considering pushing its IPO to 2027 as AI stocks and recent tech listings wobble, while Microsoft suffered its worst June stock rout since 2000 as investors continue to question the return on massive AI capex.
Google facing two more reported AI researcher departures to Anthropic. Meta is testing new engagement formats with an AI-powered prediction-market app, and Agility Robotics is planning a $2.5 billion SPAC listing as interest in warehouse humanoids builds.
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Micron was the clear standout, surging 15.74% on the day, while ASML was the only other gainer, rising 4.45%.
Bloom Energy was the biggest decliner, falling 5.21%, closely followed by IREN, down 5.09%.
Amazon dropped 3.10%, Meta fell 2.65%, NVIDIA declined 1.64%, SpaceX slipped 1.00%, and Alphabet finished down 0.83%.
Headlines
IREN signs a record $50 million Golden State Warriors sponsorship as AI cloud firms chase mainstream visibility. (San Francisco Chronicle)
OpenAI considers delaying its IPO until 2027 as AI stocks and recent tech listings wobble. (Investor's Business Daily)
Nvidia overtakes rivals in data-center Ethernet switches as AI infrastructure spending reshapes networking. (Business Insider)
Microsoft suffers its worst June stock rout since 2000 as investors question AI capex returns. (MarketWatch)
Google faces two more reported AI researcher departures to Anthropic as the talent war intensifies. (Business Insider)
Meta develops an AI-powered prediction-market app as Zuckerberg tests new engagement formats. (NPR)
Agility Robotics plans a $2.5 billion SPAC listing as investors bet on warehouse humanoids. (The Wall Street Journal)
AI chatbots give mostly left-leaning answers to political queries in a Washington Post review. (New York Post)
$1.1 Billion in Art Sold in Less Than Three Hours
A single evening only brought in $1 billion at auction one other time, Paul Allen’s estate in 2022.
Christie’s May 18 evening sale was headlined by:
Pollock: $181.2M, nearly 3x his previous record
Brancusi: $107.6M, second highest sculpture price ever
Rothko: $98.4M, a new record for the artist
Obvious outliers, but the evening capped a spring auction season that totaled $2.5 billion (roughly 2x last year). This follows a Q1’26 that saw the postwar contemporary art market grow 23.1%.
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*According to Masterworks data. Past performance is not indicative of future performance. Investing involves risk. See important disclosures at masterworks.com/cd
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