Big day for anybody who follows the money in AI. We got a record setting IPO, two of the biggest names in the business quietly lining up to go public, a fresh price war, and an AI that can now reach into your wallet. Let me break down the ones that matter.
The AI IPO Floodgates Just Cracked Open
SpaceX started trading on the Nasdaq today under the ticker SPCX, and it is the largest IPO in US history. That alone is a headline. But the part that caught my eye is what is happening right behind it.
Anthropic confidentially filed its S-1 back on June 1 at a $965 billion valuation. OpenAI filed its own on June 8 at $852 billion. These are the same outfits that spent years telling everybody they had no interest in the public markets.
Here is my take. When the people selling the shovels suddenly want to sell you stock, that tells you something about where they think the gold rush is headed. Going public means audited numbers and quarterly pressure. Read those filings close when they land, because that is the first honest look we will get at the real economics of this business.
DeepSeek Just Lit a Match Under the Price War
DeepSeek dropped a permanent 75% price cut on V4 Pro, and it now sits under every Western frontier model on cost. Google is not sitting still either. Gemini 3.5 Flash landed at $1.50 in and $9 out per million tokens, aimed squarely at folks building agents.
The cost of raw intelligence is falling like a rock off a cliff. A year ago the model was the expensive part of your stack. Pretty soon it is going to be the cheap part.
If you are building something, this is good news and you ought to be greedy about it. If you are an investor betting on fat model margins, I would be asking some hard questions. You cannot charge a premium for a thing your competitor is handing out for nearly free.
Your AI Agent Can Now Reach for Your Wallet
OpenAI partnered with Visa so AI agents can actually make purchases on your behalf. They also picked up a cloud startup called Ona to shore up the plumbing behind it.
An assistant that drafts your email is one thing. An assistant that can spend your money is a whole different animal. That is the line between a handy tool and something that needs a real seatbelt.
I am curious and a little nervous about this one. The convenience is obvious. So is the failure mode the first time an agent buys the wrong thing or gets talked into it by a sketchy website. I want to see the guardrails before I hand mine a credit card.
That is the rundown. The money is moving, the prices are dropping, and the agents are growing hands. Wild times. Catch you tomorrow.