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Bloomberg

Walmart-Backed Fintech Uses Retailer's Reach to Challenge Banks

Bloomberg's Paige Smith joins Scarlet Fu and Tim Stenovec on "Bloomberg Crypto." Walmart is one of the last remaining merchants that's been able to hold out against the swell of Apple Pay in recent years. Now, it's pushing a fledgling alternative to its huge trove of customers and employees.

Read more: Walmart-Backed Fintech Uses Retailer's Reach to Challenge Banks
Bloomberg

Galaxy Digital Sets Up Prediction Market OTC Derivatives Des

Bloomberg's Bernard Goyder joins Scarlet Fu and Tim Stenovec on "Bloomberg Crypto." Crypto finance conglomerate Galaxy Digital Inc. has launched a trading desk to offer large investors better access to prediction markets via over-the-counter derivatives similar to those used in markets from interest rates to commodities.

Read more: Galaxy Digital Sets Up Prediction Market OTC Derivatives Des
Bloomberg

Investors Rethink Strategies Amid Mega IPOs

Anthropic has confidentially filed to go public, pulling ahead of rival OpenAI in the IPO race, this as SpaceX gets ready to IPO this month. Emily Zheng, a senior venture capital research analyst at PitchBook, says "we are in unchartered territory" in terms of how "gargantuan" these mega IPOs are. She joins Caroline Hyde and Ed Ludlow on "Bloomberg Tech."

Read more: Investors Rethink Strategies Amid Mega IPOs
Bloomberg

Redistricting in Focus As Six States Hold Primaries

Kyle Kondik, Managing Editor of Sabato's Crystal Ball at University of Virginia's Center for Politics joined Balance of Power as six states with 74 congressional districts hold primaries today. In California, this is the first election under the state's revamped congressional map enacted by Democrats last year in response to mid-decade gerrymandering in Texas and other Republican states. California Democrats could win up to 48 districts, a net gain of five that would lift their chances of winning a House majority.

Read more: Redistricting in Focus As Six States Hold Primaries
Bloomberg

Anthropic's First-Mover IPO Edge Set to Widen Lead Over OpenAI

Anthropic PBC pulled ahead of OpenAI with its confidential IPO filing Monday, as the free-spending artificial intelligence startups battle for a fundraising edge that's set to determine who will win the ultimate battle for computing power. The oneupmanship in the firms' private funding rounds, and now their progress toward going public, isn't just about bragging rights. The risk for both firms is that the first to tap the US market's unparalleled depth and liquidity will gain an immediate advantage in securing access to the chips, data centers and talent needed to build their AI models. With Elon Musk looking to turbocharge SpaceX's nascent AI offerings by strapping them to a hyperscaler with a chipmaker joint venture and doing an IPO, OpenAI and Anthropic can't risk falling behind. Bloomberg Intelligence's Matthew Bloxham takes a closer look.

Read more: Anthropic's First-Mover IPO Edge Set to Widen Lead Over OpenAI
Bloomberg

SpaceX Wants Fee Cut From Bankers Chasing $500 Million Windfall

Elon Musk's SpaceX is negotiating to pay razor-thin fees to Wall Street firms handling its IPO but banks are still likely to rake in about $500 million from the record-setting market debut. Musk's space and artificial-intelligence conglomerate is negotiating to pay less than 0.75% for the $75 billion it aims to drum up in an initial public offering this month, according to people with knowledge of the matter. Even at that low spread, it will likely amount to one of the biggest fee events ever for Wall Street firms that arrange public listings. The lead banks  Goldman Sachs Group Inc. and Morgan Stanley  are positioned to take in a bigger share of the fee pool than the other 21 brokers involved. For more, we speak with Sri Natarajan, Chief Wall Street Correspondent for Bloomberg News.

Read more: SpaceX Wants Fee Cut From Bankers Chasing $500 Million Windfall