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The Trump administration is advancing a plan to allocate $200 billion annually toward medical research, emphasizing support for individual scientists and private research facilities rather than traditional university-based research. John Flavin, CEO of Portal Innovations, a Chicago-based firm that funds early-stage life sciences companies, discussed the implications of this shift. He speaks with Romaine Bostick on "The Close."

The world is on the cusp of a third missile age, with conventional ballistic weapons proliferating at unprecedented speed in the wake of widespread, battlefield-warping deployment in Iran and Ukraine.  Paul Scharre, Executive Director at the Center for a New American Security, discusses this new age of military technology and his Foreign Affairs piece, "Losing the War of the Future: How New Technologies Threaten America's Military Advantage."

Major tech leaders explained the benefits of open weight AI models, in a letter signed by NVIDIA, Meta, Microsoft, Andreessen Horowitz and others. 'Everybody's Business' podcast hosts Max Chafkin and Stacey Vanek Smith, discuss the letter and what it means for the expanding AI market.

- Tesla Inc.'s second-quarter earnings fell short of Wall Street's estimates, a setback for the electric-vehicle maker as it looks to build out new lines of business around robotics, autonomy and AI. Adjusted earnings per share were 33 cents in the period, the company said Wednesday in a statement. That's lower than the 51-cent average of analyst estimates compiled by Bloomberg. It also reported negative free cash flow of $1.09 billion.  Tesla Chief Executive Officer Elon Musk has warned spending this year will total more than $25 billion, and the company is looking to increase production of cars, batteries and robots across half a dozen plants as it follows his futuristic vision. The impact of that investment is now filtering through the company's financials, so investors will want more details.

Novo Nordisk A/S is suing rival drugmaker Eli Lilly & Co. for showing what it calls misleading ads about obesity drugs in the US. Novo says Lilly is using outdated information when comparing Novo's Wegovy to Lilly's Zepbound. John Kuckelman, Novo Nordisk Group general counsel and senior vice president, speaks on "Bloomberg Open Interest." Lilly says in a statement to Bloomberg that it's ads are "truthful" and "transparent" and the company will defend "vigorously" against the Novo lawsuit.  (Corrects spelling of Novo Nordisk)

SpaceX aborted Thursday's mission when some of its Starship rocket engines didn't fire up. The company said it will aim to launch again in a few days. The delay amounts to another setback for a spacecraft central to Chief Executive Officer Elon Musk's ambitions to put data centers in space, expand the Starlink communications network and send humans to the moon and Mars. Bloomberg Intelligence's Matthew Bloxham has more.

John Waldron, Goldman Sachs president and chief operating officer discusses SpaceX's record IPO and whether markets can absorb two other possible big IPOs by the end of the year. "Capital markets are demonstrating a willingness to finance these extraordinary companies as we build out this AI infrastructure," he tells Bloomberg Television.

SpaceX raised $75 billion in its IPO, pricing 555.6 million shares at $135 each, sending it into the top ranks of the largest public companies and putting founder Elon Musk on the verge of becoming the world's first trillionaire. Bloomberg Intelligence's Matthew Bloxham breaks down the situation and what to expect from SpaceX's first day of trading.

Vita Life Sciences (ASX:VLS) announced its financial guidance for the half-year ending June 30.

Vitrafy Life Sciences (ASX:VFY) secured $30 million through a non-underwritten institutional placement for its international expansion.

On Friday, SpaceX launches its highly-anticipated initial public offering in what is set to be the largest listing in history. Dylan Taylor, Chairman and CEO of aerospace and defense company Voyager Technologies says he's "bullish and optimistic" about the impact it will have on the industry, saying he believes there will be a lot of capital that "flows back into other space names as well" . In an interview with Francine Lacqua on Bloomberg TV on Wednesday June 10, Taylor also discussed plans for habitation on the moon, the importance of the Artemis mission as well as the space race.

SpaceX is seeking to raise $75 billion in an initial public offering that would be the biggest of all time. Elon Musk's rocket, satellite and artificial intelligence company plans to market about 555.6 million shares for $135 each, according to its filing Wednesday with the US Securities and Exchange Commission. Bloomberg's Manuel Baigorri reports.