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Top stories today:
- Elon signals he’s open to cooling off after public feud with Trump
- Circle continues to gain after seeing +168% in NYSE debut
- Google’s Gemini 2.5 Pro preview upgraded
- NASA programs to get $10B shield from White House cuts
- Anduril raises $2.5B at whopping $30.5B valuation
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):
1. Elon signals he’s open to cooling off after public feud with Trump
Elon Musk agreed to step back and won’t decommission Dragon spacecraft in response to an X post.
It came just hours after he called for Trump’s impeachment on Thu.
Implied that Trump withheld Epstein files due to his own involvement.
Trump proposed cutting off Musk’s government contracts in turn.
Earlier, Musk repeated exhortations for Republicans to vote against Trump’s tax bill.
Musk agreed for peace after Tesla fell 14% and he lost $34B
Tesla +5% in pre-market trading.
Trump-Musk ally Bill Ackman urged both to “make peace for the benefit” of the U.S.
Fri.: White House aides have reportedly scheduled a call with Musk to take down the temperature.
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3. Circle continues to gain after seeing +168% in NYSE debut
Circle stock is +15% to $95.36 in pre-market trading on Fri.:
Thu.: the stock opened at $69 on the NYSE after its IPO priced at $31.
Shares traded as high as $103.75 on the first day of public listing.
Trading volume by the end of Fri. session was ~46M, well above the 34M shares the company offered.
Circle’s USDC in circulation totals $61B as of May 29
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5. Google’s Gemini 2.5 Pro preview upgraded to take on OpenAI’s o3, Anthropic’s Claude Opus 4
The latest Gemini 2.5 Pro update now tops the LMArena’s leaderboard:
