Amazon is negotiating to sell its in-house AI chips externally.
June 18th news, Amazon (AMZN.O) is in talks to sell its self-developed artificial intelligence chips to other companies’ data centers, a move that marks a further expansion of its efforts to challenge NVIDIA’s dominant position. Peter DeSantis, head of Amazon’s AI business, said, “We believe AI infrastructure is evolving rapidly. We are always looking for ways to serve more customers.”
Amazon launched its AI accelerator chip, Trainium, in 2020. The chip has already attracted some heavyweight customers, including OpenAI, Anthropic, and Uber, who use the related hardware through Amazon Web Services (AWS).
Amazon said in April this year that Trainium had secured revenue commitments exceeding $225.00 billion.
[PANews]
SpaceX plans to issue at least $20 billion in bonds to refinance bridge loans.
Sources familiar with the matter revealed that SpaceX (SPCX.O)’s cooperating investment banks are expected to hold investor calls as early as next week to discuss a bond issuance plan following the company’s record-breaking IPO. The sources indicated that the bond issuance is expected to be at least $20 billion, with investor outreach starting as early as Monday; related plans and timelines are still subject to change.
SpaceX plans to issue investment-grade dollar bonds for the first time, with the proceeds intended to replace a $20 billion bridge loan maturing in September 2027. SpaceX’s IPO filing with the U.S. Securities and Exchange Commission shows that as of March 31, this bridge loan constituted the majority of the company’s $29.1 billion in long-term debt.
The sources stated that Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs, and Morgan Stanley jointly provided the bridge loan and will lead the underwriting of this bond issuance.
[Odaily]
Vance: Last night, 12.5 million barrels of oil passed through the Strait of Hormuz.
US Vice President Vance stated that 12.50 million barrels of oil passed through the Strait of Hormuz last night. Nearly ten ships have passed the US blockade.
So far, Iran has been fulfilling its obligations under the agreement. The only way for Iran to benefit is if they behave well.
[Odaily]
Normies Invested in Bitcoin Giant Strategy’s STRC, But Now It’s Falling Fast
Emery Redenius, a retired technician, invested over $400,000 in STRC and SATA preferred stocks, attracted by their tax-deferred distributions.
Despite STRC’s recent price drop, Strategy has raised billions through new share offerings.
Jefferies expects IREN’s AI cloud business to outpace data center leasing, sees 30% upside
Jefferies initiated coverage of bitcoin miner-turned-AI infrastructure provider IREN with a $79 price target, projecting that the company’s strategy of operating its own AI cloud infrastructure will be more valuable than leasing data center capacity in the long-term.
The investment bank said (IREN) is unique among its publicly traded AI infrastructure peers, mostly due to its large power portfolio, owned data center assets, and growing GPU cloud business. Jefferies estimates that the company has access to roughly 6 gigawatts of secured power globally, but that only around 10% of that is being utilized.
According to the firm’s analysis, IREN’s GPU cloud strategy could generate higher total cash flows than reverting facilities to focus on a colocation model when looking at a timeline of 10 to 20 years. At that point, the gap starts to widen, with Jefferies estimating returns of roughly 21% on its Microsoft-backed AI cloud buildout versus 13% under a colocation model, according to notes shared by VanEck’s Head of Digital Asset Research Matthew Sigel.
“Anchored by investment-grade tenant credit, the Microsoft and Nvidia contracts position IREN to deliver $3.1 billion of annual recurring revenue,” Jefferies wrote, according to the summary shared by Sigel.
Jefferies also highlighted IREN’s balance sheet strength. After accounting for GPU and data center spending, the firm estimates IREN has roughly $250 million for future projects, though Sigel argues that number is conservative and could be closer to $900 million when taking recent capital raises into account.
The initiation comes amid a major expansion of IREN’s global AI footprint. Earlier this week, the company announced the acquisition of Spanish AI data center developer Nostrum, adding around 490 megawatts of grid power in Europe. Weeks earlier, IREN also unveiled plans for an 800-megawatt data center campus in South Australia to serve AI demand across the Asia-Pacific region.
IREN shares were up 4% on Wednesday afternoon, trading at about $60.50 according to The Block’s equities price page, implying roughly 30% upside to Jefferies’ $79 price target.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
[The Block]
US Approves Plan to Accelerate AI Data Center Grid Access
On June 18, according to the Associated Press, U.S. federal regulators approved a plan aimed at making it easier for AI data centers to connect to the U.S. power grid.
[PANews]
CFTC enters settlement with former Celsius CEO, imposes a permanent trading ban
The Commodity Futures Trading Commission said it has settled its case against former Celsius CEO Alexander Mashinsky, who is currently serving a 12-year prison sentence.
On Thursday, the CFTC announced that the U.S. District Court for the Southern District of New York had entered a consent order prohibiting Mashinsky from engaging in future violations of anti-fraud provisions and also imposing permanent bans on trading and registration.
Mashinsky was arrested in 2023 after U.S. prosecutors alleged he defrauded customers and misrepresented Celsius’ profitability. He pled guilty to one count of commodities fraud and one count of securities fraud and was later sentenced to 12 years in prison and ordered to pay almost $50 million in fines.
Celsius operated as a crypto lender that allowed customers to earn interest and take out loans. The company filed for bankruptcy in 2022 and was later wrapped up in 2024. As part of Celsius’ wind-down, some funds were used to create a new bitcoin mining company called Ionic Digital.
The CFTC sued Celsius and Mashinsky in 2023 and said the former CEO defrauded customers and said he misrepresented the safety of the platform while engaging in risky investment strategies.
The Securities and Exchange Commission also sued the crypto lender and Mashinsky in 2023 for allegedly raising billions through fraudulent and unregistered sales of crypto, repeatedly lying to investors about Celsius’ financial standing and manipulating the price of CEL, the company’s native token.
Last month, Mashinsky reached a $10 million settlement with the Federal Trade Commission after the agency said Mashinsky and other Celsius executives engaged in “deceptive and unfair acts or practices” in marketing crypto lending and custody services.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
The White House submitted a “Memorandum of Understanding” to Congress aimed at suspending Iran’s hostile actions.
On June 18, according to Politico, the White House submitted a “Memorandum of Understanding” to Congress aimed at suspending Iran’s hostile actions.
[PANews]
Bitcoin mining companies saw divergent output in May, as competition between AI computing power and Bitcoin mining intensified.
June 18th news: Bitdeer, BitFuFu, Canaan, and CleanSpark announced their unaudited production data for May, collectively mining 1,859 BTC.
Bitdeer mined 921 BTC, a year-on-year increase of 370%, but only holds 171 BTC. Over the past year, the company has significantly sold off assets to fund AI Cloud construction, with related annualized revenue of approximately $69.00 million and slowing growth.
Despite a decrease in total computing power and some electricity limitations, BitFuFu’s self-mined production increased to 90 BTC, surpassing cloud mining for the first time.
Canaan’s self-mining and hosting combined added 114 BTC, increasing its inventory to 1,867 BTC and 3,952 ETH, while also advancing the “computing power for heating” project.
[PANews]
Wealthsimple brings 4,000 Kalshi prediction market contracts to Canada
Wealthsimple has secured approval to offer roughly 4,000 prediction market contracts in Canada, expanding retail access to event-based trading through a new partnership with Kalshi. The company plans to launch a standalone prediction markets platform called Wealthsimple Predict this summer, giving Canadian investors access to thousands of contracts listed by Kalshi across categories such as financial markets, economic data, and climate-related events.
The rollout follows authorization from the Canadian Investment Regulatory Organization in March, making Wealthsimple the second investment dealer permitted to offer prediction market contracts in Canada. CIRO stated that the products will be regulated as derivatives and must carry settlement periods of at least 30 days.
Wealthsimple’s launch arrives as prediction markets continue to attract attention from regulators, lawmakers, and traditional exchanges globally. While Canadian authorities have allowed the products under an established derivatives framework, regulators elsewhere remain divided over how such contracts should be classified.
At the same time, Kalshi has continued pushing into crypto-linked derivatives. The company announced on Thursday that its perpetual futures products are now available for trading, following a May 31 announcement that formally introduced its crypto perpetual futures business. Earlier this week, Kalshi disclosed that its perpetual futures platform generated more than $5.5 billion in trading volume within two weeks of launch.
Crypto.news previously reported that Kalshi’s rapid growth has intensified a separate political dispute in Washington. According to a Semafor report, a coalition including the Indian Gaming Association, the American Gaming Association, and several labor groups has urged the U.S. Senate to amend the CLARITY Act to explicitly prohibit sports and casino-style event contracts from being offered through prediction market platforms.
Meanwhile, resistance is also emerging from established derivatives exchanges. On Thursday, CME Group filed a lawsuit against the U.S. Commodity Futures Trading Commission over the regulator’s approval of cryptocurrency perpetual futures contracts offered by Kalshi and similar products introduced by Coinbase. The legal dispute follows a series of regulatory actions supporting onshore crypto perpetual futures trading.
Several jurisdictions outside North America have taken a different approach. Spanish regulators ordered internet providers in May to block access to Kalshi and Polymarket while examining whether the platforms violated national gambling laws. Indonesian authorities have banned Polymarket, while Japanese and South Korean regulators have also taken action against prediction market activity.
Within the United States, at least 11 states have challenged prediction markets in recent months. Speaking at Bitso’s Stablecoin Conference in Mexico City on June 16, Digital Chamber Chief Executive Officer Cody Carbone said the growing dispute between state gambling regulators and the CFTC is likely to reach the U.S. Supreme Court.
The United States and Iran announced the immediate and permanent cessation of military operations on all fronts.
The United States and Iran have announced the immediate and permanent cessation of military operations on all fronts, including Lebanon. The United States will fully lift its maritime blockade against Iran within 30 days.
Iran will ensure free and safe passage for commercial vessels through the Strait of Hormuz for a period of 60 days.
[Jin10]
SpaceX seeks $20B bond deal as Elon Musk faces selloff
SpaceX has explored a bond offering worth as much as $20 billion while its publicly traded shares have fallen more than 9%, trimming Elon Musk’s fortune by roughly $59 billion from recent highs. SpaceX and its banking partners are preparing investor discussions for a potential bond sale that could raise up to $20 billion, one of the largest corporate debt offerings in recent years.
The proposed financing would be used primarily to refinance a bridge loan due in September 2027. That loan represents a significant portion of SpaceX’s long-term debt, which stood at approximately $29.1 billion at the end of March. While the transaction remains under discussion, the final size, structure, and timing could still change depending on market conditions and investor demand. Bank of America, Citigroup, JPMorgan Chase, Goldman Sachs, and Morgan Stanley are expected to lead the process.
The debt discussions come only days after SpaceX completed a landmark public listing that pushed the company’s valuation above major technology firms and elevated Elon Musk’s wealth to unprecedented levels. Following reports of the potential refinancing transaction, SpaceX shares came under selling pressure. SPCX stock fell more than 9% from its previous close of $191.82 to an intraday low of $172.11 on June 18. The stock later recovered part of those losses and finished the session near the $185 level.
The decline follows a sharp rally that had briefly lifted SpaceX’s valuation close to $3 trillion. Shares reached an intraday high of about $225.84 on June 16, pushing Musk’s net worth to nearly $1.4 trillion and temporarily placing the value of his holdings above Bitcoin’s market capitalization of roughly $1.31 trillion at the time. SpaceX’s market debut made Musk the world’s first trillionaire. Continued gains after the listing added hundreds of billions of dollars to his paper wealth before the recent pullback reduced those gains. According to data by Forbes, Musk’s net worth has since fallen back to around $1.2 trillion, representing a decline of approximately $59 billion, or 4.6%, over the past trading day.
Despite the recent pullback, major Wall Street banks remain involved in SpaceX’s financing plans. The institutions expected to arrange the proposed bond offering are the same lenders that previously provided the bridge loan the company now intends to refinance. Investor interest in SpaceX has remained strong since its public debut, with some retail investors reportedly taking out bank loans to increase their IPO allocations before shares began trading.
Beyond its aerospace operations, the company has also drawn attention for its expansion into artificial intelligence. Recent reports indicated that SpaceX is exploring an acquisition of Anysphere, the developer behind the Cursor AI coding platform. At the same time, investors are evaluating what a potential $20 billion refinancing transaction could mean for the company’s balance sheet, as large debt deals often bring renewed focus to leverage levels and future funding needs.
[Bloomberg]
Today’s Market Pulse
Amazon’s move to sell self-built Trainium chips externally and the US-Iran de-escalation are the day’s defining signals: AI infrastructure is maturing into a standalone, capital-goods business—while regional risk relief is improving risk appetite across asset classes.
Key Themes
AI Infrastructure verticalization accelerates
Amazon’s push to monetize Trainium beyond AWS (now generating $225B in committed revenue) and IREN’s aggressive GPU cloud buildout—backed by Microsoft/NVIDIA contracts and 6 GW of secured power (only 10% utilized)—show how vertically integrated AI hardware + cloud is displacing pure colocation. Jefferies’ $79 target (30% upside) hinges on AI cloud returning 21% over 10–20 years vs. 13% for colocation. This isn’t a phase—it’s a structural shift in valuations.
Geopolitical de-escalation removes tailwinds for “crisis alpha”
The US-Iran announcement of mutual military cessation, plus Iran’s promise to guarantee Hormuz passage for 60 days, lifts a major systemic overhang. With Vice President Vance confirming oil flows despite prior US blockades, volatility risk in energy, shipping, and even crypto (Bitcoin often benefits from geopolitical stress) declines. This isn’t just about oil—it signals enhanced stability for global digital infrastructure supply chains.
AI and BTC mining diverge as strategic paths
Bitdeer exited self-mining for AI cloud ($69M annualized), while BitFuFu reversed course by boosting self-mined BTC output. The divergence reflects a stark pivot: miners with scale (like IREN) are becoming AI infrastructure providers; others remain BTC-focused. As grid access eases (June 18 US approval), AI compute’s power hunger will outcompete archival mining—especially where tariffs or carbon costs weigh.
RichSilo Verdict
Smart money should prioritize exposure to power-anchored AI infrastructure (IREN, Trainium ecosystem) over pure-play miners or colocation. Monitor grid interconnection approvals (US, EU, Australia), Microsoft/NVIDIA contract milestones, and miner inventory shifts—Bitdeer’s BTC sell-off is a preview of others to follow. Geopolitical risk is easing, but regulatory fragmentation (Kalshi’s CME lawsuit, Spanish bans) could reignite volatility ifprediction markets hit flashpoints—watch Canadian rollout success as a bellwether. With $20B+ in SpaceX-bound debt pricing in IPO euphoria, leverage risk remains, but AI infrastructure now has clearer unit economics than ever.
