Apple sells devices and ecosystems. Meta monetizes attention. Amazon combines e-commerce and cloud. Microsoft dominates software and enterprise AI. NVIDIA sells compute. Tesla is a bet on EVs, robotics, and autonomy.
Just days ago, the Bank of Japan raised rates by 25 basis points to 1%. A few weeks earlier Goldman Sachs was calling for S&P 8000 and raising targets across Asia. Now both Citadel Securities and PGIM, which manages roughly $1.4 trillion, are warning that high rates, sticky inflation, and stretched AI valuations could collide. Before the Iran conflict escalated earlier this year, markets were pricing multiple Fed cuts. Today, swap markets are increasingly discussing the possibility of hikes instead. Even the famously dovish BOJ is tightening.
First, the bad news for the home crowd. No Southeast Asian team made it this time. Indonesia got the closest it ever has in qualifying and still came up short, and Thailand, Vietnam, Malaysia, the Philippines and Singapore never got near. Asia's flag is carried by 9 AFC teams instead: Japan, South Korea, Iran, Iraq, Saudi Arabia, Qatar, Australia, plus first-timers Jordan and Uzbekistan. So for most of us, this one's about picking a side on vibes, not passports.
SpaceX generated roughly $18.7 billion in revenue in 2025. At a $1.77 trillion valuation, that implies a staggering 94x price-to-sales ratio. If the stock quickly reaches a $2 trillion valuation, that multiple rises to 107x sales.
According to Bloomberg, the IPO has been heavily oversubscribed. The offering is priced at $135 per share, with 555.6 million shares issued, implying a valuation of roughly $1.8 trillion — effectively making it the largest IPO in history.
According to Iranian media reports, shipping through the Strait of Hormuz was at one point completely disrupted. The U.S. also launched a new round of strikes against Iran, pushing oil prices higher. This time, gold wasn't acting as a safe haven. It was acting as an ATM. When markets need liquidity, investors often sell what they can — and gold is one of the easiest assets to monetize.
And this isn’t just talk. Nvidia announced that SK hynix will become its leading memory supplier for AI data centers, and that the two companies will jointly develop the memory used in the four product lines above. Huang added another bullish pitch on the side: the memory shortage is not over. From wafers to packaging to silicon photonics, the entire supply chain is still tight. Demand is simply too strong, and he says that will likely continue for years.