☕️ SpaceX confidentially files for biggest IPO in history

Hi there, this is your daily ☕️ Techpresso.

In today's Techpresso:

🚀 SpaceX confidentially files for biggest IPO in history

🔓 Anthropic accidentally leaks Claude Code

🏢 Oracle cuts thousands of jobs to boost AI spending

💰 OpenAI raises record $122B at $852B valuation

⌚ Google prepares a screenless Fitbit band to rival Whoop

🚖 Baidu robotaxis freeze in Wuhan causing traffic chaos

Plus: 🎁 17 other news you might like, 🧰 6 tools, and 📚 3 papers.

🚀 SpaceX confidentially files for biggest IPO in history LINK

SpaceX has confidentially filed IPO paperwork with the SEC, reportedly seeking a $1.75 trillion valuation in what would be the largest initial public offering in history at $75 billion raised.

The company lined up 21 banks to manage the offering, internally codenamed "Project Apex," dwarfing Saudi Aramco's $29 billion listing in 2019, which was previously the biggest IPO ever.

SpaceX needs the money to build its Starship rocket, replenish Starlink satellites, and pay for compute powering xAI's deep learning models after absorbing Musk's AI lab in February.

🔓 Anthropic accidentally leaks Claude Code LINK

Anthropic accidentally exposed over 512,000 lines of Claude Code source code when someone made a packaging error while pushing out version 2.1.88 of the software on Tuesday.

The leak revealed the full software scaffolding around Claude Code — instructions telling the model how to behave, what tools to use, and where its limits are — not the AI model itself.

This marks the second accidental exposure in a week, after Anthropic made nearly 3,000 internal files publicly available last Thursday, including a draft blog post describing an unannounced model.

🏢 Oracle cuts thousands of jobs to boost AI spending LINK

Oracle laid off thousands of employees across multiple countries this week, with analysts estimating cuts could reach 30,000 positions to free up billions in cash flow for AI data center construction.

Workers received termination emails from "Oracle Leadership" at 6 a.m. with no prior warning, after being locked out of internal systems at three in the morning Pacific time.

The cuts come as Oracle spends $50 billion on capital expenditure this year and carries a $156 billion total buildout estimate, even as its stock has lost nearly half its value since September.

💰 OpenAI raises record $122B at $852B valuation LINK

OpenAI closed a $122 billion funding round at an $852 billion valuation, making it the largest private fundraising event in history, with Amazon leading at $35 billion and individual investors buying shares through ARK ETFs.

Amazon's $35 billion tranche carries conditions tied to an IPO milestone, effectively making a public listing a requirement of OpenAI's own financing rather than a voluntary strategic decision.

At $852 billion, OpenAI's private valuation now exceeds every publicly listed tech company except Apple, Microsoft, Nvidia, and Alphabet, setting up a tense gap between pre-IPO price and market reality.

⌚ Google prepares a screenless Fitbit band to rival Whoop LINK

Google is working on a screenless Fitbit fitness band designed to compete with Whoop and Oura, combining simple hardware with AI-powered health coaching and a subscription-based model for extra features.

The band is described as a grey fabric design with an orange inner lining, and it will rely on a redesigned Fitbit app featuring an AI personal health coach covering mental wellbeing, cycle tracking, nutrition, and hydration.

Basketball player Stephen Curry shared a sponsored video teasing the device, and Google confirmed he has been collaborating with its team, with more details and a full launch expected later this year.

🚖 Baidu robotaxis freeze in Wuhan causing traffic chaos LINK

More than 100 Baidu robotaxis stopped running in Wuhan due to a system malfunction, stranding passengers in fast-moving traffic on a ring road, according to police and Chinese media reports.

Some passengers were afraid to exit because their vehicle had stopped in the middle lane with other cars passing on both sides, while others pushed an SOS button and left on their own.

This is the first reported mass shutdown of robotaxis in China, and Baidu, which operates more than 1,000 driverless taxis mostly in China, did not have any immediate comment.

Other news you might like

• Bitcoin’s quantum deadline just moved upLINK

• Tesla Goes Ahead and Admits Its Robotaxis Are Sometimes Fully Human-ControlledLINK

• Iran threatens Nvidia, Apple and other tech giants with attackLINK

• Jack Dorsey says AI should replace the middle manager after Block cuts 4,000 jobsLINK

• Google's Veo 3.1 Lite cuts video generation costs by more than halfLINK

• Perplexity AI sued over alleged user data sharing with Meta and GoogleLINK

• Mercor says it was hit by cyberattack tied to compromise of open-source LiteLLM projectLINK

• Chinese chipmakers claim nearly half of local market as Nvidia's lead shrinksLINK

• Microsoft closes worst quarter on Wall Street since 2008 on AI concerns: 'Redmond is in a pickle'LINK

• Quantum computers need vastly fewer resources than thought to break vital encryptionLINK

• What is inference engineering? DeepdiveLINK

• OkCupid gave 3 million dating-app photos to facial recognition firm, FTC saysLINK

• Nintendo's crusade against Palworld just got a reality check from the US Government as "summon and fight" patent rejectedLINK

• Apple celebrates its 50th anniversaryLINK

• Apple Tests Siri Feature That Handles Multiple Commands at OnceLINK

🧰 Trending tools

1-Bit Bonsai: quantized large language models using 1-bit weights to reduce memory usage and increase inference speed while maintaining performance.LINK

Ollama v0.19: runs large language models like Llama 2 locally on your Mac, letting you customize models and work offline without API dependencies.LINK

traceAI: monitors and optimizes enterprise AI applications across software and hardware infrastructure to improve accuracy through evaluation and observability tools.LINK

Zzzappy: monitors screen time and keyboard/mouse usage on macOS, scheduling science-based breaks to prevent eye strain and repetitive strain injuries through customizable reminders.LINK

Remodex: a mobile iOS client that remotely controls Codex on your Mac with end-to-end encryption, enabling thread management, git operations, and command execution from your iPhone.LINK

Google Veo 3.1 Lite: a lightweight AI video generation model that creates short video clips from text prompts, optimized for faster processing and lower computational costs.LINK

📚 Trending papers & reports

Sycophantic chatbots cause users to become overconfident in wrong beliefs by 15 to 30 percentage points, even when users update beliefs rationally using Bayes' theorem.LINK

DNA-based encryption keys achieve unconditionally secure communication by using synchronized biological randomness from DNA sequences, eliminating the need for computational assumptions that quantum computers could break.LINK

A new proof of the four color theorem includes an algorithm that colors planar maps in nearly linear time, solving a problem that has lacked efficient constructive methods since 1976.LINK

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