Elon Musk’s SpaceX debuted on the public market on Friday, raising $75 billion in what was the largest IPO in history.

SpaceX’s IPO more than doubled the previous IPO record and provides the company with capital to help finance what Musk explained on a pre-IPO livestream with JPMorgan Chase will be a “significant growth phase” as it ramps up the deployment of its Starlink communications satellites and looks to build artificial intelligence (AI) data centers in space.

The IPO is the first of several highly anticipated IPOs that are expected to occur later this year, with a pair of companies at the forefront of the AI boom – ChatGPT-maker OpenAI and Anthropic – taking steps toward a debut.

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SpaceX employees rang the Nasdaq’s opening bell as the company debuted with a record IPO on June 12, 2026. (Michael Nagle/Bloomberg via Getty Images)

It remains to be seen whether those looming IPOs will break the new record set by SpaceX, but here’s a look at the four other IPOs that round out the list of the five largest in history:

Saudi Aramco

SpaceX’s IPO more than doubled Saudi Aramco’s previous IPO record. (Hamad I Mohammed/Reuters)

Saudi Arabia’s state-owned oil company went public in December 2019, with the deal initially raising $25.6 billion in capital after listing on the Saudi stock exchange.

That amount grew to about $29.4 billion after Saudi Aramco and its underwriters exercised an over-allotment option – also known as a greenshoe option – that allowed Aramco to issue more shares due to the high level of demand from investors.

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Alibaba

Several of the largest IPOs had such strong demand that underwriters offered more shares shortly after the debut. (Qilai Shen/Bloomberg via Getty Images)

The China-based e-commerce giant Alibaba went public in September 2014 with a $21.8 billion capital raise, which ranked as the largest at the time.

As with the Saudi Aramco IPO, intense demand prompted Alibaba’s underwriters to use an option to issue more shares that boosted the total amount raised to $25 billion. The company is listed on the New York Stock Exchange.

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SoftBank

SoftBank CEO Masayoshi Son said in December 2024 that his firm would invest $100 billion in the U.S. with the goal of creating 100,000 new jobs. (Andrew Harnik/Getty Images)

Japan-based communications provider SoftBank debuted in December 2018 with a $21.3 billion IPO on the Tokyo Stock Exchange.

The company’s parent, SoftBank Group, is a major tech investor around the world and has made notable investments in U.S. AI companies and chipmakers. SoftBank CEO Masayoshi Son said in December 2024 that his firm would invest $100 billion in the U.S. with the goal of creating 100,000 new jobs.

Agricultural Bank of China

An Agricultural Bank of China Ltd. branch in Shanghai, China, on Jan. 6, 2026. (Raul Ariano/Bloomberg via Getty Images)

The 2010 IPO of the Agricultural Bank of China was the world’s largest at the time, totaling an initial $20.8 billion – though that figure later grew to $22.1 billion when it issued more shares on exchanges in Hong Kong and Shanghai through a dual-listing.

The firm is one of the largest financial institutions in China in terms of assets and customers, serving as the primary bank for Chinese agricultural businesses.

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As I’ve said so many times, President Trump is not going to make a bad deal with Iran.

And what we are learning from White House sources is an 80 percent to 85 percent chance of what they are calling the Islamabad memorandum of understanding. It could be completed in the next few days, maybe this weekend.

Hat tip to Fox News digital for comprehensive coverage.

All of Mr. Trump’s red lines are included in this MoU. And importantly, the entire deal is premised on Iran changing its behavior in verifiable ways that meet clear performance benchmarks.  

The key points of this MoU begin with a plank that would prevent Iran from ever getting a nuclear weapon. That includes removal and destruction of already-enriched uranium.

It also includes a number of technical details where inspectors from the United Nations’ International Atomic Energy Administration and American personnel will be involved in the process of destroying, removing, and verifying the end of Iran’s enriched material.

Additionally, Iran’s long-term nuclear ambitions will be ended. Technical inspection procedures will be included. Quote, “our approach here is to verify, verify, verify. And that the Iranians won’t get the benefit of the bargain unless they perform,” end quote. That is according to administration sources.

Also Iran must stop funding terrorism in the region. A full regional peace deal is included. Plus, Iran will agree to opening the Strait of Hormuz, and the blockade will then be lifted if Iran follows through.

Importantly, according to sources, Iran will receive no money upon signing the MoU. Any sanctions relief must be tied to actual performance. If they change their behavior, and start acting like a normal country in accordance with this deal, then money will be forthcoming.

But after all, this is not the final deal, this is a memorandum of understanding. So hard bargaining on technical details and verification processes still lies ahead, even if this MoU is signed. That’s very, very important.

You might think of this as the beginning of the end of the war, but it’s not yet the end of the war.

Undoubtedly, though, Mr. Trump’s coercive diplomacy, or negotiations with bombs, is going to continue if Iran doesn’t measure up. 

I have the feeling that Mr. Trump’s threat to destroy their infrastructure — bridges, power and water facilities — moved this MoU along pretty rapidly.

But performance incentives are the heart of this deal.

Behavior must change.

Trust, but verify.

NEW YORK — GameStop Corp. shares fell 1.53% on Friday, trading at $21.84 as the video game retailer continued to experience volatility typical of its status as a prominent meme stock in ongoing retail-driven market activity.

The modest decline came on regular trading volume as investors monitored the company’s performance amid broader market movements and shifting sentiment toward consumer discretionary stocks. GameStop has seen significant price swings in recent years, driven largely by retail investor enthusiasm rather than traditional fundamental catalysts.

Recent Performance Context

GameStop’s stock has been characterized by sharp movements since its surge in 2021, when coordinated retail buying propelled it to extraordinary heights. While the intensity of those early episodes has moderated, the company remains a focal point for individual investors active on social media platforms and trading apps.

Friday’s trading reflected a continuation of this pattern, with the stock moving in a relatively narrow range during the session. The decline occurred as some broader market indexes posted modest gains, highlighting the independent dynamics often at play with high-profile retail favorites.

Company Fundamentals and Strategy

GameStop operates a network of physical and digital retail locations focused on video games, consoles and related merchandise. The company has worked to adapt to the evolving gaming landscape, emphasizing e-commerce growth, collectibles and potential expansion into new entertainment categories.

Management has focused on strengthening the balance sheet and exploring strategic initiatives to improve long-term viability in a market increasingly dominated by digital downloads. Progress on these fronts has been mixed, with periodic updates influencing investor sentiment.

The retailer’s transformation efforts have included cost management, inventory optimization and selective store adjustments. While challenges in the traditional brick-and-mortar segment persist, the company maintains a dedicated customer base and brand recognition within the gaming community.

Retail Investor Influence

GameStop’s trading activity continues to reflect the power of coordinated retail participation. Online communities frequently discuss the stock, with sentiment shifting based on news flow, short interest data and broader market trends. This dynamic can lead to rapid price movements disconnected from near-term business performance.

Short interest remains a closely watched metric, with periodic spikes generating significant attention. However, the overall influence of short selling has evolved as market structures and participation patterns have changed since the initial 2021 events.

Broader Market and Sector Trends

The consumer discretionary sector has shown mixed performance in 2026, influenced by consumer spending patterns, interest rate expectations and shifts in entertainment preferences. GameStop’s results are often viewed through a unique lens due to its meme stock history, setting it apart from traditional retailers.

Analysts note that while fundamental improvements are important, retail enthusiasm can override near-term business metrics in driving price action. This creates both opportunities and risks for investors navigating the stock’s volatility.

Analyst Perspectives

Wall Street coverage of GameStop remains limited compared to more conventional retailers, with ratings reflecting uncertainty around long-term strategy and profitability. Some firms maintain neutral stances, acknowledging the difficulty in traditional valuation methods given the stock’s unique characteristics.

Focus remains on quarterly results, management execution and any strategic updates. The company’s ability to generate sustainable profitability while adapting to industry changes will be critical for longer-term stability.

Investment Considerations

For investors, GameStop represents a high-volatility opportunity tied to retail sentiment and potential corporate developments. Those participating should maintain strict risk management given the potential for rapid price swings in either direction.

Longer-term holders often cite belief in the company’s transformation potential and strong brand equity within gaming. Shorter-term traders monitor technical levels, volume patterns and social media momentum for directional cues.

Diversification remains essential when engaging with meme stocks or high-volatility names. Portfolio allocation should reflect individual risk tolerance and investment horizons.

Regulatory and Market Structure Notes

Market regulators continue monitoring trading activity in stocks with elevated retail participation. While coordinated buying is a feature of modern markets, authorities maintain oversight to ensure fair and orderly trading.

GameStop’s history has contributed to broader discussions about market structure, short selling disclosure and retail investor protection. These conversations have influenced policy considerations in recent years, though significant changes remain subject to ongoing debate.

Looking Ahead

GameStop’s next earnings report and any strategic announcements will likely influence near-term trading. The company’s performance in the evolving gaming retail environment will be closely watched by both traditional analysts and the dedicated retail community.

As the year progresses, broader economic conditions and consumer spending trends could impact results. The stock’s sensitivity to sentiment means external events can trigger significant movements independent of operational performance.

Friday’s modest decline adds another data point to GameStop’s ongoing story as a symbol of retail investor influence in public markets. While volatility remains elevated, the company continues operating in a competitive industry with opportunities for adaptation and growth.

Market participants will monitor upcoming catalysts and trading patterns closely. For now, GameStop trades near current levels with investors balancing enthusiasm for its unique position against inherent risks in the evolving retail landscape.

The session’s activity reflects the enduring interest in GameStop as both a retail phenomenon and operating business. As markets evolve, the company’s trajectory will provide continued insight into the intersection of traditional retail and modern investor dynamics.

Nicotine usage among Americans has taken a new form as traditional tobacco usage has reached record lows.

Nicotine pouches, an alternative to traditional chewing tobacco, have seen explosive growth. A study by Monitoring Tobacco Product Use showed that U.S. monthly dollar sales of pouches surged 250.8% from January 2023 ($145.5 million) to August 2025 ($510.5 million).

Investors are paying attention, and some top celebrities are getting in on the action. Fox News Digital spoke with music artist and renowned DJ “Diplo” about his stake in the nicotine pouch company Sesh.

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Diplo performs at Diplo’s HonkyTonk during the 2026 Stagecoach Festival at Empire Polo Club on April 24, 2026, in Indio, California. (Matt Winkelmeyer/Getty Images for Stagecoach)

“[Nicotine pouches were] very helpful and controlling my ADHD, so, I try to do it, not in the evening, but in the morning when I’m starting to work. And it was pretty effective,” he said.

Diplo, whose real name is Thomas Wesley Pentz Jr., is not the only top name invested in Sesh. Nick and Joe of the Jonas Brothers, Post Malone, The Chainsmokers, and billionaire Palantir co-founder Joe Lonsdale’s venture capital firm, 8VC.

Post Malone is also a celebrity backer of Sesh products. (Greg Doherty/Getty Images for Amazon MGM Studios)

The CDC Foundation reported that young adult usage of nicotine pouches nearly quadrupled from 2022 to 2025, and flavored products have played a role in young Americans using nicotine.

While vaping and e-cigarette devices face stricter regulatory scrutiny when it comes to flavors, as some states have outright banned flavored products, nicotine pouches have more leeway.

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“There’s no smoke, nicotine isn’t tobacco,” Diplo said. “I’ve never been into tobacco, I’ve never been into smoking.”

Access to nicotine products is becoming increasingly easy. Delivery services like GoPuff and others allow for products like Sesh to be ordered straight to the home. Nicotine and vape shops have popped up on streets in big cities and across the U.S. as demand rises.

The Wall Street Journal reported that President Donald Trump pressured former FDA Commissioner Dr. Marty Makary to speed the authorization of flavored vapes, a shortfall that became a factor in Makary resigning from the job in May.

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Although the FDA has authorized nicotine pouch products like Sesh and rivals Zyn and Velo for sale in the U.S., health experts warn against the effects they can have, particularly on younger people. (Getty Images)

Although the FDA has authorized nicotine pouch products for sale in the U.S., health experts warn against the effects they can have, particularly on younger people.

While these products are designed to be discreet, odorless and convenient, Maggie Britton, the clinical director of health initiatives at National Jewish Health, warned that it is particularly dangerous for developing brains, as nicotine can alter the brain circuits involved in attention, learning, memory, mood regulation and impulse control.

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Long-term health effects remain in question, including its impact on oral health, cardiovascular function and cancer risk, she told Fox News Digital.

“Caution should guide both public health decisions and individual choices,” she said. “When we don’t yet fully understand the long-term health effects of a product, the responsible approach is to limit use rather than expand it.”

Entrepreneur recognised for her services to the beauty and cosmetics industry

British beauty entrepreneur and celebrity makeup artist Charlotte Tilbury has been made a Commander of the British Empire (CBE), as fellow fashion industry leaders are honoured for their contributions to dressing the nation.

The businesswoman features on the King’s Birthday Honours list in recognition of her services to the beauty and cosmetics sector.

The honour comes eight years after she was made an MBE, acknowledging her continued impact on the UK industry.

As founder, president, chairwoman and chief creative officer, Ms Tilbury is the driving force behind her eponymous makeup brand, established in 2013, which has since grown into a global beauty powerhouse.

Products including foundation, powder and setting spray have made significant inroads into the premium market, while the popular “Unreal” range has proved a hit with consumers seeking an Instagram filter-worthy complexion.

The company sits within Spanish premium beauty group Puig, which acquired it in 2020 for a reported sum of one billion US dollars (£750 million).

Ms Tilbury is widely regarded as one of Britain’s wealthiest beauty entrepreneurs, with an estimated fortune of £350 million, according to last year’s Sunday Times Beauty Rich List.

The 53 year old launched her brand following more than 20 years working as a celebrity makeup artist, having collaborated with some of the world’s most prominent supermodels, including Kate Moss, Naomi Campbell, Gisele Bundchen and Kendall Jenner.

Joining Ms Tilbury on this year’s birthday honours is Neil Clifford, chief executive of luxury footwear and accessories label Kurt Geiger, who has been made an OBE.

Mr Clifford has been vocal about his journey from shop floor employee with few qualifications to heading the British fashion brand, having worked his way up through the retail sector.

He took the helm at Kurt Geiger — renowned for its distinctive loafers and heels in bold designs — more than two decades ago, and is being recognised for services to fashion.

Also awarded an OBE for services to fashion is Sandra Choi, creative director and designer at Jimmy Choo.

Ms Choi is the niece of Jimmy Choo and has dedicated her more than 30-year career to the eponymous luxury brand, celebrated for its glamorous footwear and iconic stilettos.

Jimmy Choo was acquired by American fashion house Michael Kors for nearly £900 million in 2017, subsequently becoming part of the Capri Holdings group.

The Justice Department (DOJ) on Friday announced it has closed its antitrust investigation into Paramount Skydance’s proposed acquisition of Warner Bros. Discovery, concluding the transaction is not likely to harm competition or American consumers.

The Antitrust Division said its eight-month review examined more than two million documents and found the deal could strengthen competition across the media and entertainment industry, including in streaming video, traditional television and theatrical film distribution.

“The extensive investigatory record reviewed by the Division suggests that the impact of the transaction will be to increase competition across the media and entertainment ecosystem, with benefits for American consumers and workers,” the department said.

The DOJ said the combined company would continue competing against larger streaming rivals including Netflix, Amazon and Disney and found no evidence the transaction would likely reduce consumer choice.

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The merger was approved by the Department of Justice on Friday. (Eric Thayer/Bloomberg via Getty Images)

The department also disclosed that regulators reviewed a separate proposal involving Netflix before Paramount reached a definitive agreement with Warner Bros. Discovery. 

According to the DOJ, evaluating both proposals provided investigators with competing perspectives on the future of the media industry.

The decision drew criticism from Sen. Elizabeth Warren, D-Mass., who urged state attorneys general to continue fighting the transaction.

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“This is terrible news for every American who doesn’t want Trump-aligned billionaires to control what they watch and how much they pay,” Warren wrote on X.

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Netflix agreed last year to acquire Warner Bros. Discovery’s film and television studios and streaming platform, HBO Max, in a cash-and-stock deal valued at $27.75 per Warner Bros. Discovery share.  (Anna Barclay/Getty Images / Getty Images)

Warren also alleged the merger “reeked of corruption and influence-peddling” and called on state officials to block the deal.

State attorneys general retain independent authority under antitrust laws, and the DOJ’s decision does not itself prevent additional legal challenges to the proposed transaction.

The merger still faces several hurdles to reach completion. (Mario Tama/Getty Images / Getty Images)

The merger still faces several steps before completion.

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Paramount announced Friday that it had extended debt exchange and tender offers connected to Warner Bros. 

Discovery and said it expects those offers to remain aligned with the anticipated closing timetable. The company also cautioned that the acquisition remains subject to closing conditions and other risks.

NEW YORK — WhatsApp experienced significant disruptions on Friday, leaving users across multiple countries unable to send messages, log in or access the popular messaging platform as reports of service failures surged.

The Meta-owned application, used by billions worldwide for personal and business communication, faced intermittent outages affecting both mobile apps and desktop versions. Service monitoring sites and social media platforms quickly filled with complaints from users encountering login errors, message delivery failures and complete app unresponsiveness.

Downdetector and similar tracking tools recorded sharp spikes in outage reports, with problems noted in the United States, United Kingdom, South Africa, the Philippines, Italy and other regions. The timing during peak usage hours amplified frustration for individuals relying on WhatsApp for daily coordination, work discussions and family connections.

Scope and Nature of the Issues

Users reported various symptoms, including “unexpected error, invalid request” messages, inability to log in and frozen desktop applications. One user in the United Kingdom described seeing repeated login failures on both the app and web version. Others noted the Windows PC app becoming unresponsive, preventing normal operation.

The disruptions appeared to affect core functions such as messaging, voice calls and media sharing. Some users were unexpectedly logged out and faced difficulties signing back in. The global scale of the outage suggested backend infrastructure or network issues at Meta rather than localized problems.

Meta had not issued an immediate official statement on the cause or expected resolution time. The company’s service status pages showed no widespread alerts initially, creating a common disconnect between official monitoring and real-world user experiences during partial outages.

User Reactions and Impact

Frustration spread rapidly on alternative platforms like X, where users shared screenshots of error messages and sought confirmation that others were affected. The @status_is_down account actively tracked the situation, confirming reports from multiple countries and noting the specific error messages users encountered.

Businesses relying on WhatsApp for customer service and internal communication faced immediate challenges. Families separated by distance reported difficulties staying in touch, while communities using group chats for coordination experienced disruptions. The outage highlighted the platform’s central role in modern communication, particularly in regions where it serves as a primary messaging tool.

Meta’s History with Service Disruptions

Meta platforms, including Facebook, Instagram and WhatsApp, have faced notable outages in the past, sometimes affecting billions of users simultaneously. Previous incidents have been attributed to configuration changes, server overloads or backbone routing problems. The company typically resolves such issues within hours and provides post-incident explanations.

WhatsApp’s end-to-end encryption and widespread adoption make reliability especially critical. Even brief downtime can have significant personal and economic impacts, particularly for small businesses and users in developing markets where alternatives may be limited or more expensive.

Technical Context and Possible Causes

While Meta has not confirmed details, outages of this nature often stem from issues with authentication servers, content delivery networks or internal database synchronization. The simultaneous impact on mobile and desktop versions points to a core service problem rather than platform-specific bugs.

Users attempting basic troubleshooting steps such as restarting apps, clearing cache or switching networks reported mixed results. Some found temporary relief by using web versions or alternative connections, while others remained locked out entirely.

Broader Implications for Digital Communication

The incident underscores growing dependence on a handful of major technology platforms for everyday communication. As services like WhatsApp become integral to personal relationships, commerce and information sharing, even short disruptions can create widespread inconvenience and highlight infrastructure vulnerabilities.

In an era of increasing digital reliance, such events raise questions about redundancy, backup systems and the need for diversified communication methods. While Meta invests heavily in reliability, the global scale and complexity of its services make complete prevention of outages challenging.

Company Response Expectations

Meta has a track record of addressing major outages promptly once identified. Engineering teams typically work quickly to restore service, followed by transparency reports detailing root causes and preventive measures. Users are advised to monitor official Meta channels or help centers for updates.

For those still experiencing issues, patience is recommended as fixes are implemented progressively. Avoiding repeated failed login attempts can help reduce additional server load during recovery.

What Users Can Do

Affected individuals should try standard troubleshooting: restarting devices, reinstalling the app, clearing cache or using alternative networks. For critical communications, having backup methods such as SMS, email or other messaging apps is advisable.

Businesses should maintain contingency plans for platform disruptions, including diversified customer contact channels. Personal users can prepare by ensuring important contacts are available through multiple methods.

Looking Ahead

As Meta works to fully restore service, normal functionality is expected to return progressively across regions. The outage will likely be analyzed internally to strengthen resilience against similar incidents in the future.

Friday’s disruption to WhatsApp serves as a notable reminder of digital infrastructure’s role in daily life. While inconvenient, such events often lead to improvements that benefit users long-term. In the meantime, affected individuals continue seeking alternatives and sharing experiences as they await resolution.

The global scale of the WhatsApp outage on June 12 highlighted both the platform’s reach and the challenges of maintaining uninterrupted service for billions of users. As recovery efforts continue, the incident adds to ongoing discussions about technology dependence and the importance of reliable digital communication tools.