Public Markets 3 Hours

Last updated: June 25, 2026, 5:30 PM ET

Technology & AI

AI company OpenAI is leaning towards delaying its initial public offering until next year, amid advice to proceed cautiously following volatile trading in SpaceX's stock and the artificial intelligence startup's own financial considerations. Meanwhile, research suggests that AI's ability to time the stock market may be overstated; while large language models can perform well initially, they do not consistently outperform the market over extended periods or in shifting economic conditions. In a move to bolster domestic semiconductor capabilities, the U.S. is investing $250 million in I-Pulse Inc. for its work on semiconductors and pulsed-power technology, a part of broader efforts to reduce foreign reliance.

Mergers & Acquisitions

ON Semiconductor announced an all-stock acquisition of Synaptics, a deal valued at $7 billion enterprise value. Synaptics' artificial intelligence compute platform, human-machine interface technology, and connectivity solutions are expected to enhance ON Semiconductor's offerings as demand for advanced AI solutions grows.

Logistics & Infrastructure

FedEx Freight provided a positive revenue outlook following its spin-off from FedEx, projecting growth between 4% and 6% for the period of June 1 to December 31, signaling confidence in the unit's underlying business strength. In a separate development related to domestic supply chains, the Army will lease land on its bases for critical mineral production, partnering with mining companies as part of an initiative to secure vital industrial inputs.

Market Movers & Corporate Governance

The race to succeed Jamie Dimon at JPMorgan Chase is reportedly heating up. In other market activity, Micron Technology's stock surged, while shares of Apple experienced a decline. A lawsuit alleges that Red Lobster's infamous $20 all-you-can-eat shrimp promotion was a scheme designed to disadvantage the restaurant chain, contributing to its bankruptcy.

Geopolitics & Defense

Movement through the Strait of Hormuz has been halted after an attack on a cargo ship near Oman, prompting a UN agency to pause evacuations from the Persian Gulf. The U.S. military is facing persistent weapons shortages, with President Trump and Pentagon officials seeking additional funding from Congress to reassure manufacturers.

Regulatory & Legal Developments

New Canadian border policies, alongside a pre-existing agreement with the United States, are making it more difficult for Syrians and Haitians to seek refuge in Canada. This follows a Supreme Court ruling that allowed the Trump administration to end Temporary Protected Status for many individuals from these countries, paving the way for potential deportations. The Supreme Court's decision to end TPS has been criticized as a blow to lawful immigrants.