News

OpenAI has confidentially filed for a US IPO targeting a valuation of up to $1 trillion, with a potential September debut; no size or firm terms were disclosed. The Pentagon added Alibaba, Baidu, and BYD to its 1260H China military-linked firms list, barring direct Defense Department contracts. AstraZeneca reported its obesity pill cut body weight by 10.5% in a Phase II trial, while broader Asia-Pacific macro items included China's May trade beat and a PBOC yuan fixing at its strongest since February 2023.

Alphabet is reportedly planning to sell $80 billion in stock to fund its AI infrastructure buildout, continuing a broader trend among large tech companies securing capital for AI investment. The article frames the equity offering as part of an aggressive but strategically understandable push to finance future AI capacity. No specific timeline or deal terms are confirmed in the report.

Strategy (formerly MicroStrategy), led by Michael Saylor, sold bitcoin for the first time since 2022, marking a notable shift in its long-standing accumulation strategy. The article contrasts this with other firms that continue to purchase bitcoin. No specific details on the size of the sale or the names of all buying firms are provided in the headline.

Lululemon has settled a proxy battle with founder Chip Wilson, agreeing to add two of his board nominees. The dispute began in December when Wilson publicly argued the company had lost its strategic direction and required board-level change. The settlement ends the formal proxy contest without a shareholder vote.

Strategy repurchased a portion of its 2029 convertible notes for $1.38 billion in cash, retiring approximately $1.5 billion in face value of debt at a discount. The buyback reduces the company's aggregate convertible notes outstanding to $6.7 billion. The move lowers Strategy's overall debt load and interest obligations tied to its Bitcoin acquisition strategy.

Strategy has used its cash reserves to retire $1.5 billion in convertible debt. The move reduces the company's outstanding debt obligations and reflects ongoing balance sheet management. No new financing was announced in connection with the repayment.

The stock market held near record highs this week, with Intel leading a rally in chipmakers that helped offset weakness in ServiceNow and the broader software sector. Apple CEO Tim Cook is reported to be leaving the company. Tesla was also noted as a stock in focus for the week.

Apple announced that CEO Tim Cook will step down on September 1, 2026, transitioning to executive chairman, with John Ternus — current SVP of Hardware Engineering — named as his successor. Cook will remain in his current role through the summer to facilitate the handover. Under Cook's 14-year tenure, Apple's market cap grew from $350 billion to $4 trillion and annual revenue exceeded $416 billion.