$NVIDIA(NVDA)$ + $Advanced Micro Devices(AMD)$. Where the AI wave started, where capital concentrated first. Valuations are high. Most retail investors entered late here.
Today welcomes Hari Raya Haji (May 27), and the weekend will also welcome Vesak Day (May 31 - June 1). One side delivers gratitude and sharing, while the other side symbolizes compassion and peace. Different beliefs gather into the same warmth on the island of Singapore.
SpaceX's S-1 discloses that retail brokerage channels will receive a meaningful allocation in the IPO, open to qualified investors. For investors in Singapore, participation in U.S. IPO subscriptions is generally only available to accredited investors, or to non-accredited investors who meet the minimum investment amount requirement of SGD 200,000.
Musk's compensation vesting condition is: "Establish a permanent human colony on Mars with at least 1 million residents." For each tranche, both market cap milestones and the Mars colony milestone must be satisfied simultaneously.
A macro narrative centered around rate cuts suddenly flipping into rate hikes is not a small shift. Hike odds were 18% last week, 36% yesterday, and now effectively 100%. The $US30Y(US30Y.BOND)$ just hit 5.2%, the highest level in 20 years. $XAU/USD(XAUUSD.FOREX)$ are down 4% over the past week, while silver has dropped 14% from recent highs.
The read: Starlink makes money (38.8% op margin). Launch loses money (-16.1%). AI burns the most cash (-198.5% op margin + $12.7B CapEx). Launch revenue barely grew. The growth engine is Starlink.
This Thursday, Starship V3 is expected to launch from Boca Chica, Texas. In the same week, SpaceX’s IPO filing will go public — roadshow on June 4, pricing on June 11, and official Nasdaq listing on June 12 under ticker $SpaceX(IPO001)$ . Meanwhile, $Rocket Lab USA, Inc.(RKLB)$, $Firefly Aerospace Inc.(FLY)$ and $Voyager Technologies, Inc.(VOYG)$ all rallied Monday before pulling back Tuesday.
May is structurally a high-pressure month — end-of-quarter repositioning, late earnings season, summer liquidity compression. The "Sell in May" narrative tends to self-fulfill. But index-level support remains intact — Morgan Stanley just raised its 12-month SPX target to 8,300 (bull case 9,400). The selling is in high-beta names, not the broader fundamental picture.