SPCX: Wall Street is all-in

SPCX: Wall Street is all-in 

SpaceX [SPCX] joined the Nasdaq 100 Index on Tuesday, as major brokerages including Morgan Stanley and Goldman Sachs initiated coverage with buy-equivalent ratings following the post-IPO quiet period. Price targets ranged from $165 at New Street Research to $401 at Arete Research, Bloomberg reported. “While neocloud deals are the bulk of the business near term, we see end-to-end artificial intelligence (AI) services as the longer-term business model,” Morgan Stanley analysts wrote in a note.

Microsoft sacks 2% of staff

The tech giant [MSFT] will cut about 4,800 jobs, including roughly 3,200 in its Xbox division, as it restructures its gaming business amid weak hardware demand and rising development and component costs. The layoffs are equivalent to some 2% of its workforce, the Financial Times detailed. The company said the layoffs are not being driven by AI replacing workers, although AI is changing workflows. Xbox CEO Asha Sharma described the business as “not healthy”.

Major pivot at Samsung supplier

Synopsys [SNPS] plans to discontinue a suite of semiconductor manufacturing process-control software as it shifts resources towards higher-margin AI design tools, according to reports. The company has informed customers including Samsung Electronics [SSNLF] and SK Hynix [000660:KS] that it will stop releasing new versions of some software, while continuing support under existing contracts. 

Can Uber become a unified mobility platform?

Uber [UBER] has been making some big moves of late, as it aims to transcend the ride-hail niche and become a diversified mobility giant. Important axes include breaking into food delivery in Europe and the Lime [LIME] IPO, which has proved a modest success for the Uber protégé. In parallel, Uber has been doubling down on robotaxis. The core question, as Aureon observes, is whether this orchestration model can compound into pricing power and margin expansion. 

Samsung tumbles despite record profit

The South Korean memory chip giant logged its third straight quarter of record operating profit in Q1 – some ₩89.4tn – up 19-fold from a year ago and more than its profit for all of 2025. Regardless, shares plunged 10%. SK Hynix shares also fell 7%, triggering a trading halt at South Korea’s Kospi. Investors are increasingly concerned about future oversupply as cloud service providers pour investment into memory chip purchases. 

Intel-backed AI chipmaker prepares for debut

California-based AI semiconductor and software firm Syntiant Corp has filed for an IPO, with plans to list shares under the ticker SYTN. Founded in 2017, the physical AI company builds tools to allow devices to perceive, process and respond to real-world input. Prominent investors include the venture capital arm of Intel [INTC] and Microsoft Global Finance; the expected size of the offering has yet to be disclosed.

Investors look for more after biotech’s 542% surge

SELLAS Life Sciences Group [SLS] is a late-stage clinical biopharmaceutical company developing cancer treatments. Its lead product candidate is currently undergoing a Phase 3 trial as a potential maintenance therapy for patients with acute myeloid leukaemia; the company recently indicated that the trial was close to completion. Aureon analyses this and other drivers behind SELLAS’ 542% share price surge.