OpenAI Files for IPO in Test of Investor Appetite

What’s News in Markets: AI Whiplash, SpaceX’s Historic IPO, Knicks Fever

Where are investors looking beyond AI? And how did the largest IPO in history move markets before it even started trading? Plus, can an NBA playoff run create shareholder value? Host Imani Moise discusses the biggest stock moves of the week and the news that drove them. Sign up for the WSJ's free Markets A.M. newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

SpaceX Is Now America’s 6th Most Valuable Public Company

P.M. Edition for June 12. Shares of SpaceX closed up 19% on their first trading day, giving the company a market cap of more than $2 trillion and making Elon Musk the world’s first trillionaire. Plus, China has been importing a lot less oil since the start of the Iran conflict, helping keep a lid on global oil prices–without disrupting its economy. WSJ energy markets reporter Rebecca Feng discusses how China’s doing that, and what happens if the country reverses course. And Iran, the U.S. and mediators agree that a peace deal is close at hand. We hear from Journal Middle East correspondent Benoit Faucon about what points might still be up for debate. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Will SpaceX Skyrocket on Trading Debut?

A.M. Edition for June 12. With just hours to go until SpaceX’s trading debut we look at what to expect when the largest IPO ever hits the market today. Plus, oil falls on the prospects of an imminent U.S. peace deal with Iran - but will it stick? Analysts warn of more volatility to come. And, as the U.K. defense secretary quits over a lack of military spending, WSJ’s Alistair MacDonald explains what it says about Europe’s military readiness. Luke Vargas hosts. Further reading on SpaceX’s IPO: SpaceX’s IPO Couldn’t Be More Old School  Musk Looks to an Army of Loyalists to Help Make Him a Trillionaire Meet the SpaceX Employees Who Are About to Make an Overnight Fortune Musk Poised to Be the World’s First Trillionaire Sign up for the WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Stocks Soar After Trump Cancels Threatened Strikes on Iran

P.M. Edition for June 11. After threatening more strikes against Iran this morning and then calling them off, President Trump said this afternoon that there’s an agreement to end the war–although final details still need to be completed. Plus, Trump says he plans to nominate Jay Clayton, a top federal Manhattan prosecutor and former SEC chairman, as intelligence director. WSJ national security reporter Yoko Kubota discusses why this move might help defuse a fight with Congress over a crucial spying tool. And SpaceX officially sold $75 billion worth of shares, making it the biggest IPO ever. Asset managers like BlackRock helped: The Journal learned that it put in an order to buy at least $5 billion worth of SpaceX shares. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Why OpenAI Might Slash Prices for Users

A.M. Edition for June 11. OpenAI is considering sweeping price cuts as it braces for an intensifying battle for users with chief rival Anthropic. The potential price drop comes as corporate clients begin to pull back on high AI spending and express difficulty tying costs to real investment returns. Plus, social media bans for kids gain momentum as Canada weighs a law that would likely apply to American tech companies like Meta and Snapchat. And the CEO of Bloom Energy K.R. Sridar tells us how the company is navigating growing opposition to new data centers. Luke Vargas hosts. Sign up for the WSJ’s free What’s News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices