GREY Journal Daily News Podcast

Bloomberg reported that SpaceX shares rose after a record IPO and were set to extend gains. The company operates both launch services and the Starlink satellite broadband network, supported by multi-year contracts with NASA and the U.S. Space Force. SpaceX executed ninety six orbital launches in 2023 and had more than five thousand Starlink satellites in orbit by mid 2024. A strong listing can reset valuation benchmarks for peers such as Rocket Lab, Iridium, and Viasat while influencing private competitors like Blue Origin and AST SpaceMobile. Founders should watch governance choices, employee liquidity, and lockup terms, along with regulatory requirements from the FAA and FCC. The aftermarket will inform how analysts model unit economics and how investors price capital-intensive growth in aerospace and adjacent industries.Learn more on this news by visiting us at: https://greyjournal.net/news/

Bloomberg reported that Tencent-backed Enflame Technology is preparing an IPO, joining a wave of Chinese AI chip designers seeking public capital. The move follows tightened US export controls in October 2023 and October 2024 that restricted Nvidia’s higher end accelerators to China. Chinese cloud providers, including those run by Tencent, Alibaba, and Baidu, have tested domestic options such as Huawei’s Ascend line to diversify supply. An IPO would provide Enflame with capital for product roadmaps, software development, and partnerships. For global founders, the development adds pricing pressure, increases hardware diversity, and heightens the need for portability planning and compliance monitoring.Learn more on this news by visiting us at: https://greyjournal.net/news/

Kevin Warsh, now Federal Reserve Chair, held his first public briefing on the U.S. economy, signaling a new phase for rate policy, balance sheet management, and communication. His background includes service as a Fed governor from 2006 to 2011, experience at Morgan Stanley, and a fellowship at the Hoover Institution. Founders and lenders will watch how guidance affects the federal funds rate, the prime rate, and SOFR linked borrowing costs. SBA 7(a) loans, which totaled about $27.5 billion in fiscal year 2023, often have variable rates capped at spreads over prime, making Fed policy a key input to payments. Longer term yields tied to the ten year Treasury will influence leases, equipment financing, and real estate decisions. The Fed meets eight times per year, and Warsh’s approach to the two percent inflation target and forward guidance will shape financial conditions into the second half of 2026.Learn more on this news by visiting us at: https://greyjournal.net/news/

Bloomberg reported that SpaceX drew more than $100 billion in retail orders for its planned IPO, signaling unusually strong Main Street demand. The company, led by CEO Elon Musk, operates reusable launch services and the consumer-facing Starlink satellite broadband business. The scale of retail interest raises allocation and pricing questions, including whether underwriters lift the price range, upsize shares, or rely on a 15 percent overallotment. Investors will study SpaceX's S-1 for revenue mix, Starlink unit economics, margins, launch cadence, capital expenditure plans, and government contract exposure. The response could influence peers such as Rocket Lab USA, Iridium Communications, AST SpaceMobile, and Viasat, and may pull other deep tech issuers toward the IPO market.Learn more on this news by visiting us at: https://greyjournal.net/news/

The Department of Homeland Security is pushing cyber modernization across civilian agencies through CISA programs such as zero trust implementation, Continuous Diagnostics and Mitigation, and Trusted Internet Connections 3.0. Budget requests have kept CISA funding near $3 billion, supporting multi-year investments in detection, response, and workforce. Leadership from Secretary Alejandro Mayorkas, CISA Director Jen Easterly, and DHS CIO Eric Hysen emphasizes joint defense, binding directives, and cross-component coordination. Workforce constraints persist despite the Cyber Talent Management System, prompting greater use of training and managed services. Acquisition relies on vehicles like FirstSource III, PACTS III, GSA MAS, NASA SEWP, and CDM DEFEND task orders. Compliance requirements now center on OMB secure software guidance, NIST control baselines, FIPS 140-3, and FedRAMP. Vendors that map capabilities to CISA’s Zero Trust Maturity Model and prepare attestations and authorizations can better align to agency buying priorities.Learn more on this news by visiting us at: https://greyjournal.net/news/

CNBC reported that Senator Elizabeth Warren asked the SEC to delay any SpaceX IPO, citing valuation and governance concerns. The SEC reviews IPOs through the S-1 process and can delay effectiveness if disclosures are inadequate, though it does not set valuations. SpaceX, led by CEO Elon Musk and President and COO Gwynne Shotwell, provides launch services, crewed missions for NASA, and the Starlink network while serving government and commercial customers. Governance topics include board independence, audit and compensation oversight, and handling of potential conflicts across a founder’s multiple companies. A delay could affect liquidity timelines for employees and early investors. Founders planning IPOs can mitigate review risks by strengthening governance and preparing detailed, plain spoken disclosures.Learn more on this news by visiting us at: https://greyjournal.net/news/

Morningstar reported that OpenAI is exploring an IPO, with timing uncertain. OpenAI operates a capped-profit structure under a nonprofit parent and relies on Microsoft’s Azure for training and inference through a multiyear partnership. Competitors have raised significant private capital, including Anthropic’s up to $4 billion from Amazon and $2 billion from Google, and xAI’s $6 billion round in May 2024. OpenAI’s commercial revenue comes from ChatGPT subscriptions, enterprise offerings, developer APIs, and Azure distribution, with The Information reporting about a $1.3 billion annualized run rate in late 2023. The company has signed data licensing deals with the Associated Press, Axel Springer, and News Corp, the latter reported by The Wall Street Journal at up to $250 million. Any S-1 would need to detail governance, cost structure, and Microsoft-related economics, while regulatory risks in the United States and Europe could influence timing.Learn more on this news by visiting us at: https://greyjournal.net/news/

Yahoo Finance reported that Oracle beat expectations on total revenue in its fiscal fourth quarter while cloud sales missed analyst estimates. Oracle's cloud portfolio includes Oracle Cloud Infrastructure for compute and AI workloads and cloud applications such as Fusion and NetSuite. Supply limits on GPUs, new data center capacity, and multi-cloud security and compliance reviews are slowing deployments and revenue recognition. Oracle is pursuing multi-cloud strategies with integrations that place Oracle Database near Azure and Google Cloud while expanding AI-ready infrastructure. Founders should expect longer validation cycles, cloud-agnostic requirements, and co-selling motions to move enterprise deals. Key metrics to watch include remaining performance obligations, any disclosed growth splits, and capital expenditures tied to new regions and AI capacity.Learn more on this news by visiting us at: https://greyjournal.net/news/

MIT News reported that an MIT-affiliated startup is applying nuclear reactor-inspired thermal management to cool servers by removing heat at the chip level. The approach uses two-phase boiling, microchannels, and passive loop designs to reduce chiller use, raise coolant temperatures, and enable higher rack densities. IEA data shows rising global data center electricity consumption, and Uptime Institute reports an average PUE of 1.58. Major operators, including Microsoft and Google, are introducing liquid-cooled options for AI racks as Nvidia and AMD hardware increases per-rack power. ASHRAE, Open Compute Project, and Open19 have issued guidance that eases integration. Fluids availability is shifting after 3M announced the wind down of Novec by the end of 2025, steering vendors toward water-based or lower GWP options. Policy constraints in Ireland and Northern Virginia, plus water planning requirements, are accelerating adoption of advanced cooling methods.Learn more on this news by visiting us at: https://greyjournal.net/news/