Plus: A push for local veto power on data centers.
‌
View as a Web page

Daily Brief

Friday, August 7, 2026
Miguel J. Rodriguez Carrillo / AFP via Getty Images

SpaceX insiders can finally sell some stock. If only it wasn't below its IPO price

SpaceX stock touched a new low on Thursday as up to 911.5 million shares held by insiders became eligible for sale for the first time since the company went public in June. The stock dipped to $105.11 in early trading before bouncing back to $114.92 at Thursday's close. SpaceX shares have shed nearly half their value from their June 16 peak of $225.64 and are about 15% below their $135 IPO price.

The newly eligible shares, valued at roughly $100 billion at current prices, bring the total tradable share count to 1.55 billion, up from the 639 million that changed hands when SpaceX completed its IPO, according to Bloomberg.

Among those looking to sell is Jessie Bates III, a safety for the Atlanta Falcons who paid about $150,000 for SpaceX shares in 2022 at a valuation of $127 billion. According to CNBC, Bates communicated through a publicist that he intends to liquidate his full position in order to "lock in gains." SpaceX's current valuation of $1.49 trillion could make Bates' stake worth over $1.7 million.

Another 319 million shares will unlock Aug. 12, with additional tranches coming in September and October. By the end of the year, more than 4 billion shares will be available to trade.

Read more on Quartz

Today's Poll

Would you sell SpaceX stock now if you could?


Yes. Lock in whatever value is left
No. I'd wait for the stock to recover
I'd sell some now and hold the rest

Here's what you need to know

OpenAI wants a judge to dismiss Apple's trade secrets lawsuit. OpenAI argued that Apple failed to describe the information it claims as confidential and that the lawsuit was "baseless." OpenAI said Apple confused employees by allowing them to use personal iCloud accounts to handle data.
Meta's AI model is the latest to escape cybersecurity testing. Meta said Muse Spark accessed the internet and breached an undisclosed third party, joining OpenAI and Anthropic as the third leading AI developer to acknowledge one of its models had compromised a real-world system.
Warner Bros. reports streaming revenue growth amid merger delays. The segment posted a 10% increase from a year earlier to $3 billion, even as the company's overall results fell short of analyst expectations. Warner Bros. Discovery's merger with Paramount is set for trial next year.
Jamie Dimon warns hidden leverage could trigger market disruption. JPMorgan's CEO said the odds a single investor could spark a broader selloff are higher with high margin debt in the system. Dimon named prime brokerages, hedge funds, and ETFs among the channels contributing to leverage.
U.S. jobless claims edged up to a stronger-than-forecast 199,000. The figure was a modest increase from the prior week's revised 198,000, and the four-week moving average fell to 198,750, the Department of Labor said. Continuing claims, a broader measure of unemployment, rose to 1,801,000.

Recommended

Trusted by heads of state and global leaders.

Semafor Flagship is the essential email briefing that connects global developments across politics, economics, climate, AI, and more. Each edition provides context and insight on the ten most important stories happening around the world.
Stay Informed — Subscribe for Free
Bloomberg / Getty Images

A new resolution would give communities the right to say no to data centers

Rep. Ro Khanna is calling on Congress to establish a "data center bill of rights" that would give local communities the power to block AI data center construction. The California Democrat said the resolution would give communities "the right to say no" to data centers.

"We need a data center bill of rights where communities don't have these data centers shoved down their throat," Rep. Khanna said. "Where they can stand up and say no and where they can make sure these aren't going in farmland or residential communities."

The resolution expresses that communities should have the right to ban data centers in residential areas and within 2,500 feet of homes, schools, childcare facilities, hospitals, or nursing homes. Other provisions would require data centers to use clean energy and meet noise and air pollution limits, prohibit increases in electricity rates for households and small businesses, and mandate independent public impact reports before any project is approved.

More than 4,400 registered data centers currently operate across the United States, and AI data centers could consume up to 32 billion gallons of water per year by 2028, with many facilities located in water-stressed regions.

Read more on Quartz
Sponsored

Start investing in the background of life

You do not need a big lump sum or a complicated strategy to begin investing. Acorns helps you automatically invest spare change from everyday purchases, set recurring contributions, and build toward long-term goals with diversified portfolios designed around your money goals.

Whether you are new to investing or just want an easier way to stay consistent, Acorns can help you get started in minutes.
Get started with Acorns

More from Quartz

Our best wishes on a safe start to the day. Send any news, comments, and more to [email protected].

Forward to a Friend | Unsubscribe | Privacy Policy
This email was sent to: [email protected]

This email was sent by: Quartz Media Network (US), Inc.
848 N. Rainbow Blvd. 3017
Las Vegas, NV 89107
United States