SpaceX Gains Investment Grade Rating; Coinbase Lists AI Pre-IPO Perpetuals; Stripe Appoints New Leaders

Key Takeaways

1. SpaceX achieves Fitch BBB+ investment-grade rating with over $100B in cash, commanding 80%+ of global orbital mass; Neuralink completes 26th implant, restoring communication for an ALS patient.
2. Coinbase launches pre-IPO perpetual contracts for OpenAI and Anthropic, enabling non-US users to gain exposure to these private AI giants.
3. Stripe appoints Eileen O'Mara as Vice Chair and Tyler Bryson as Chief Revenue Officer, signaling a strategic push for growth and policy engagement.
4. European startups struggle to attract early talent due to unfavorable stock option taxation, pushing many to incorporate in the US.

1. SpaceX and Neuralink Milestones

1. SpaceX received a BBB+ investment-grade rating from Fitch, reporting over $100 billion in cash and equivalents and accounting for over 80% of global orbital launch mass. The Falcon program plans to launch more mass in the coming years than the rest of the world combined, and the Merlin engine is now the most successful rocket engine in history. — via 1 2 3
2. Neuralink completed its 26th implant in a patient, helping a Canadian ALS patient regain communication abilities. This marks rapid progress in brain-computer interface technology. — via 1

2. Financial Innovation: Coinbase Pre-IPO Perpetual Contracts

1. Coinbase launched pre-IPO perpetual contracts for OpenAI and Anthropic, allowing non-US users to trade exposure to these private AI companies before their IPOs. This creates a new avenue for retail and institutional investors to speculate on high-profile AI startups. — via 1

3. Startup Ecosystem Updates

1. Stripe appointed Eileen O'Mara as Vice Chair and Tyler Bryson as Chief Revenue Officer. O'Mara will work with policymakers and business leaders to drive entrepreneurship and economic dynamism, signaling Stripe's increased focus on regulatory engagement. — via 1 2
2. European startups face a talent attraction crisis due to unfavorable stock option taxation, which makes it difficult to hire early employees. This often forces startups to incorporate in the US or offer US-based compensation, weakening the European tech ecosystem. — via 1
3. Boom Supersonic's engine development hit a milestone with the high-pressure turbine rotor assembled, but the third-stage integrally bladed rotor (IBR) is delayed due to supplier issues. The company plans to vertically integrate and produce its own IBRs for the next engine. — via 1