Good afternoon and welcome to Markets Desk.
Meta is moving hard into the AI coding race. CEO Mark Zuckerberg launched Muse Spark one point one Thursday, a model targeting developers and AI agents, with pricing he described as very aggressive. The play is deliberate — enterprise AI spending bills have been ballooning, and Meta is positioning itself to trigger a genuine price war across the sector.
Shifting to the space economy, Rocket Lab shares have surged one hundred eighteen percent over the past year, fueled in part by its eight billion dollar acquisition of Iridium, which dramatically expands its satellite communications footprint. The question investors are now weighing is whether that premium valuation has already priced in the growth runway, or whether the buildout is still early innings.
And on the IPO front, Jersey Mike's has filed its S-one, and the disclosures are drawing attention beyond the valuation. The sandwich chain's founder Peter Cancro saw his stepson collect more than fifty million dollars in compensation between two thousand twenty three and two thousand twenty five, while a forty-one million dollar private jet also surfaced in the filing. The numbers are raising eyebrows as the company prepares to meet public market scrutiny.
That's the tape. Markets Desk, signing off the floor.
