Welcome back to your daily memorandum talking tech, business, AI, markets, and more. 🗞️

In today’s edition we are tackling the following:

🚀 SpaceX confidentially files for IPO, potentially valuing it at $1.75T.
🌕 NASA launches four astronauts on first crewed lunar mission in 50 years.
💳 Visa launches six AI tools to modernize charge dispute management.
🔓 DeFi platform Drift halts transactions after potentially massive crypto hack.
🌍 Over 30 countries meet to reopen the blockaded Strait of Hormuz.

TECHNOLOGY

• SpaceX confidentially files for IPO, potentially valuing it at $1.75T (Reuters)
  ^{_{More: CNBC, Bloomberg, TechCrunch}}

  • SpaceX has confidentially filed for an IPO that would likely rank as a record-breaking offering.

  • The company was most recently valued at $1.25T following its merger with Elon Musk's xAI.

  • Bloomberg reports SpaceX could seek a valuation exceeding $1.75T in the public offering.

• Anthropic accidentally took down thousands of GitHub repos in copyright overreach (TechCrunch)
  ^{_{More: Yahoo!, MSN}}

  • A software engineer discovered Anthropic had accidentally leaked Claude Code's source code in a recent release.

  • Anthropic's copyright takedown notice hit thousands of GitHub repositories, including legitimate forks of its own code.

  • Anthropic's head of Claude Code called it an accident & retracted most takedown notices promptly.

• NASA launches four astronauts on first crewed lunar mission in 50 years (Reuters)
  ^{_{More: CNA, PBS, CNBC}}

  • NASA's Artemis II lifted off from Kennedy Space Center on Wednesday, carrying three U.S. & one Canadian astronaut.

  • The high-stakes mission marks the boldest U.S. step yet toward returning humans to the moon.

  • The mission is part of a race with China to complete the first crewed lunar landing.

BUSINESS

• Visa launches six AI tools to modernize charge dispute management (CNBC)
  ^{_{More: Yahoo!, Investing.com}}

  • Visa launched six AI tools to help merchants, issuers, & acquirers manage charge disputes more efficiently.

  • The company processed over 106M disputes globally in 2025, a 35% increase since 2019.

  • Visa aims to reduce reliance on largely manual back-office dispute systems still used across the industry.

• DeFi platform Drift halts transactions after potentially massive crypto hack (TechCrunch)
  ^{_{More: AInvest, Tech Buzz, MSN}}

  • Drift suspended deposits & withdrawals after confirming an active attack on its platform.

  • Estimates of stolen funds range widely, from $136M per CertiK to $285M per Arkham.

  • If confirmed, the Drift hack would rank as the largest crypto theft of 2026.

• FDA approves Eli Lilly's first daily GLP-1 weight loss pill (CNBC)
  ^{_{More: AP, NBC, Yahoo!}}

  • The FDA approved Eli Lilly's once-daily GLP-1 pill, Foundayo, marking a major milestone for the drugmaker.

  • Foundayo is less effective than Lilly's weekly Zepbound shot but offers greater convenience & global scalability.

  • Insured patients could pay as little as $25/month, while out-of-pocket costs range from $149–$349.

MARKETS

WORLD

• Over 30 countries meet to reopen the blockaded Strait of Hormuz (AP)
  ^{_{More: Business Standard, WTOP, Yahoo!}}

  • Britain is chairing a virtual meeting of 30+ nations to restore navigation through the Strait of Hormuz.

  • Iranian attacks have halted nearly all traffic through the strait, disrupting global oil flow & spiking prices.

  • The U.S. is absent from talks; Trump said securing the waterway is not America's responsibility.

• Trump's Iran escalation threat rattles Asian stocks, futures & oil (BBC)
  ^{_{More: CNBC, Bloomberg, Reuters}}

  • Trump vowed to strike Iran "extremely hard" over the next two to three weeks in a national address.

  • Asian markets reversed earlier gains, with South Korea's Kospi leading regional losses, plunging 4.37%.

  • Analysts warn further escalation could sustain elevated energy prices & weigh on broader risk assets.

• Putin warns Armenia it cannot join both the EU & EEU (AP)
  ^{_{More: Yahoo!, WTOP}}

  • Putin told Armenia it cannot simultaneously belong to the EU & Russia's Eurasian Economic Union.

  • Armenia has been pursuing closer EU & U.S. ties after a U.S.-brokered peace deal with Azerbaijan.

  • Armenian PM Pashinyan declared intent to join the EU & suspended participation in a Moscow-led security pact.

FUTURISM

• A 'system failure' paralyzed over 100 Baidu robotaxis across Wuhan (CNA)
  ^{_{More: TechCrunch, The Guardian}}

  • A system failure froze over 100 Apollo Go robotaxis across Wuhan, trapping some passengers for two hours.

  • Vehicles stalled in dangerous locations, including fast lanes, while police continue investigating the unknown technical cause.

  • The incident adds to growing safety concerns about robotaxis, with similar disruptions also occurring in the U.S.

• An AI machine sorts used clothes faster than humans for recycling (AP)
  ^{_{More: Yahoo!, Economic Times}}

  • China's DataBeyond developed Fastsort-Textile, an AI machine that sorts used clothes by composition at high speed.

  • The machine reduces textile incineration, helping recycle synthetic fabrics derived from fossil fuels more efficiently.

  • China leads global textile exports at $142B & is also the world's top textile waste contributor.

• Nothing is reportedly planning smart glasses & AI earbuds soon (Bloomberg)
  ^{_{More: TechCrunch, The Verge, TOI}}

  • Nothing plans smart glasses with cameras, microphones, & speakers, launching next year per Bloomberg.

  • CEO Carl Pei shifted from skeptic to advocate, pushing a broader multi-device AI strategy.

  • Nothing became a unicorn after raising $200M at a $1.3B valuation last year.

• LLM Feature Integration with Real APIs*

  Building LLM-powered features means handling real APIs, real users, and real edge cases. You need engineers who can do the glue work that makes AI actually usable—Python, JavaScript, and everything in between.

  • Full-stack LLM integration

  • Production-ready implementation

  • 40–60% cost savings

CONTENT

• Block's Owen Jennings on reorganizing a company entirely around AI (a16z)

  • Block restructured over 40% of its workforce, rebuilding around AI agents & small three-person squads.

  • Internal tools like Goose & Builder Bot now enable teams of three to do what 14 once handled.

  • AI-native products like Money Bot & Manager Bot generate custom interfaces for tens of millions of users.

• Charles Schwab's Kevin Gordon breaks down Q1's sharp market rally (The Prof G Pod)

  • Charles Schwab's Kevin Gordon reviewed Q1's volatile market & shared his outlook for the rest of 2026.

  • SemiAnalysis president Doug O'Laughlin broke down the recent selloff in memory chip stocks.

  • The episode also covered insider trading scandals allegedly tied to the ongoing war with Iran.

• Nonfiction storyteller Wright Thompson shares his secrets to great writing (David Perell)

  • Wright Thompson, one of the world's top nonfiction writers, breaks down his entire storytelling process.

  • Topics cover character development, scene-building, dialogue, & how to craft a memorable ending.

  • Thompson also shares definitive writing lessons & explains why traditional 'brainstorming' often falls short.

EXTRAS

• Nike's turnaround faces new pressure from Middle East conflict risks (Reuters)
  ^{_{More: Yahoo!, MSN}}

  • Nike flagged a steep current-quarter sales decline & a 20% drop in China, its eighth straight quarterly fall.

  • Shares plunged 15.5% to $44.63, a more than decade-low, after the company's latest earnings warning.

  • The Middle East conflict adds fresh pressure to CEO Elliott Hill's already struggling turnaround effort.

• Lucid Motors recalls over 4k Gravity SUVs over seat belt flaw (TechCrunch)
  ^{_{More: Engadget, Yahoo!}}

  • Lucid discovered improperly welded second-row seat belt anchors during unrelated safety testing in January.

  • The defect stems from a supplier changing its manufacturing process without Lucid's knowledge or approval.

  • All affected vehicles, built before February 14, 2026, will be inspected & repaired or reseated.

• Western Australia invokes emergency powers amid Iran war-driven fuel crisis (Bloomberg)
  ^{_{More: Yahoo!, Straits Times}}

  • Western Australia activated emergency powers after fuel suppliers failed to provide required supply chain data.

  • The Middle East conflict & Strait of Hormuz closure have squeezed global fuel supplies, driving pump prices to records.

  • Mining & agricultural sectors reliant on diesel are already experiencing shortages, with further disruption feared.

AND MORE

• Apple patches older iPhones & iPads against active DarkSword attacks.

• Intel eyes multimillion-dollar investment in SambaNova, chaired by CEO Tan.

• Explore all the tools and more here to outperform the competition.*

• Cameo partners with TikTok to grow its platform's reach.

• Iran war boosts EV demand as automakers pivot back to combustion.

• WhatsApp alerts hundreds targeted by a fake app from a spyware maker.

• Nintendo stays resilient as layoffs & closures rock the games industry.

• Hasbro confirms hack, warns recovery could take several weeks.