Circle Boosts IPO Amid Demand

CRYPTO
Circle Boosts IPO Amid Demand

Circle is moving forward with its IPO, now planning to offer 32 million shares priced between $27 and $28 each—up from its original plan of 24 million shares at $24 to $26. This adjustment suggests rising investor demand. According to recent SEC filings, the offering could give Circle a fully diluted valuation of up to $7.2 billion.

Major players like BlackRock and Ark Invest are reportedly interested, with BlackRock eyeing up to 10% of the shares and Ark planning a $150 million investment. Circle is the issuer of USDC, the second-largest stablecoin after Tether’s USDT. The broader stablecoin market has surged to a $248 billion market cap, with Tether holding a $154 billion share and USDC at $60 billion.

Once used mainly for crypto trading, stablecoins are now essential in DeFi, remittances, and even traditional finance. Circle’s IPO reflects this growing mainstream interest in digital dollar infrastructure.

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TECH
Super Micro Computer Soars

In a year marked by tech layoffs and volatile chip demand, Super Micro Computer soared 206 spots on the Fortune 500 to land at No. 292—more than any other company. The San Jose-based firm doubled revenue to nearly $15 billion and led its sector with $1.15 billion in profit. Its growth stems from its role in building AI, cloud, and data center infrastructure.

CEO Charles Liang credits vertical integration and close alignment with Nvidia as key advantages. Super Micro has shipped over 1.3 million server and storage nodes and recently partnered with Elon Musk’s xAI project. While its market cap has neared $24 billion, the company has faced scrutiny, including past SEC issues and an August 2024 Hindenburg report alleging accounting irregularities. Despite missed filings and ongoing investigations, Super Micro says it’s made governance changes and remains bullish on AI infrastructure. The company aims to expand production and lead in energy-efficient computing.

TECH
Tesla Sales Surge in Norway

Tesla saw a sharp rebound in Norway, with new car registrations jumping 213% year-over-year in May to 2,600 vehicles, led by strong demand for the updated Model Y. This comes as Tesla struggles elsewhere in Europe, with sales declining in markets like Spain, Sweden, and Portugal—largely due to CEO Elon Musk’s political activity and growing competition.

Despite reputational damage, Tesla’s success in Norway is fueled by generous EV incentives, including tax breaks and infrastructure support. Industry experts note that Norwegians value features like all-wheel drive and spacious interiors, which the Model Y offers. Tesla's resurgence also aligns with the delivery of new Model Y units, which some buyers had delayed purchases for.

However, 43% of Norwegian EV owners surveyed said they’d avoid Tesla for political reasons. Meanwhile, Chinese automakers like BYD are gaining ground in Europe, highlighting increased competition. Tesla’s performance in Norway stands out as a rare bright spot in a challenging regional market.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.