Together with
Good Morning,
SpaceX officially closed book building for its historic $75B IPO. Our intern also closed book building for a historic meme dump 🤝
Also, I'm sure you've heard the buzz around F2's AI platform for private markets and today they're out with a huge announcement. $14M in fresh funding to expand their LLM-agnostic operating system across the entire credit universe. This is a great time to try a demo.
Let's dive in.
Before The Bell
As of 6/10/2026 market close.
Learn more about the Litquidity portfolios and subscribe to the strategies on Autopilot.*
Markets
US stocks slid yesterday on escalating US-Iran tensions
Dow posted its worst day YTD
Bitcoin posted its worst week since the FTX collapse in 2022
Earnings
Oracle issued a Q4 beat and raise but shares fell 7% after it announced plans to raise another $20B in equity, $20B in debt, and boost capex to finance its AI buildout (CNBC)
Chewy met Q1 earnings and revenue estimates but cut FY guidance despite expanding market share as consumers are 'more stretched' now than few months ago (BRN)
What we're watching this week:
Today: Adobe, Lennar
Full calendar here
Prediction Markets
SpaceX officially raised the biggest IPO of all time. But how will it trade?
Trade event contracts on Polymarket, the world's largest prediction market
Headline Roundup
TPG exec plowed into five cars in drunk driving incident (BBG)
US CPI growth hits three-year high at 4.2% YoY (CNBC)
Trump said 'I love the inflation' (CNBC)
US launched fresh strikes on Iran as deal talks falter (CNBC)
US may not renew trade deal with Mexico and Canada (FT)
Governments have sold a record $504B in syndicated bonds YTD (BBG)
Apollo exec says PE got 'a little out of whack' in Covid era (FT)
Retail investors are seeking loans to invest in the SpaceX IPO (BBG)
SpaceX secured investment grade ratings (BBG)
SpaceX leaves some banks peeved at junior roles in IPO lineup (BBG)
SpaceX IPO spurs Wall Street stress tests across market systems (BBG)
US stock market will stop shrinking for first time in 23 years (FT)
Silver Lake hired in-house educators to teach firm about AI (BBG)
DOJ is investigating big banks for 'debanking' (WSJ)
Wedding inflation has brides paying witches for perfect $100k days (BBG)
A Message from F2
F2 raises $24M to scale its LLM-agnostic AI operating system for private credit
F2, the compounding intelligence platform for private markets, raised $24 million, including a new $14 million seed round led by HighlandX. Backers include Left Lane Capital, NFX, Y Combinator, and Torch Capital.
Now live across 100+ private credit funds and commercial banks, F2 automates screening, underwriting, and portfolio monitoring at 5x throughput, with enterprise-grade security and zero data retention.
What's new for your deal team:
Adam: an LLM-agnostic deal agent that's faster, more token-efficient, and more capable than leading frontier models on complex credit work.
Institutional Knowledge: a living repository of your team's deal history and context that informs every financial workflow.
The results are showing: monthly active users are up 650%, and deals analyzed have grown 10x to over 15,000 this year.
Some of Wall Street's biggest funds are already saving hours with F2. See what it can do for your team. Try a demo.
Deal Flow
M&A / Strategic
Shareholders have now tendered 37.7% shares in Italian lender UniCredit's takeover offer for $55B-listed German rival Commerzbank
European energy distribution firm DCC is set to accept an improved $7.6B cash offer at a 33% premium from KKR and Energy Capital Partners
Specialty insurance distributor Amwins Group and Dragoneer Investment Group are interested in acquiring Aussie insurance broker Steadfast Group at a $5.4B valuation, including debt, for a 52% premium
Starbucks is considering a stake sale in its Japan unit at a $3B valuation
UK retail group Frasers offered to acquire the remaining 74% of Hugo Boss for $2.3B cash at a 4% premium
Taiwan-listed hardware firm Ennoconn launched a $1.7B takeover bid for Austria-based Kontron
Health insurer Humana agreed to divest its minority stake in hospice care firm Gentiva for $900M
Taiwanese tech connectivity firm BizLink agreed to acquire ICT business Interplex from Blackstone for $850M cash
Japanese electronics firm TDK will acquire high-precision 3D printing pioneer Fabric8Labs for $400M cash
Ant International, the General Atlantic and Silver Lake-backed global unit of Alibaba's fintech subsidiary Ant Group, is considering raising $1B at a $10B valuation to accelerate growth
Turkey's Armed Forces Pension Fund Oyak launched talks to acquire a 43% stake in conglomerate Tekfen from Can Kultur Sanat Egitim Kurumlari Isletmeciligi following their fraud investigations
Australia's biggest gold miner Northern Star Resources rejected a proposal by activist Elliott to sell some smaller assets or pursue a full sale
VC
Anti-Nvidia AI infrastructure startup TensorWave raised a $350M Series B at a $1.55B post-money valuation led by AMD and Magnetar Capital
Nesto, a digital mortgage lender, raised a $302M Series E at a $1.47B valuation
Japanese robot software developer Mujin is raising an extension to its $233M Series D at an over $1B valuation
Indian robotics startup Addverb Technologies is seeking to raise a $100M round
Poetic, an AI enterprise automation startup, raised $50M in funding backed by OpenAI
F2 AI, the compounding intelligence platform for private markets, raised $24M in funding including a $14M seed round led by HighlandX
SyntheticFi, a wealth-tech automated liabilities-planning software for financial advisors, raised a $13M round from Y Combinator, Social Leverage, and others
Niteshift, an AI coding agent startup, raised a $7M seed round led by Greylock
ArchAstro, an AI-powered platform for automated cross-company software integrations and deployments, raised a $6.2M pre-seed round led by 20VC and Kyber Knight
Access the complete VC deal flow and data on Fundable
IPOs / Listings / Issuances / Block Trades
SK Capital-backed Canadian drug maker Apotex Health raised $930M in Canada's biggest IPO since 2021
Cancer biotech Parabilis Medicines surged 58% in its trading debut after raising $745M for a $3.8B market cap in an upsized IPO priced above a marketed range
Energy Impact Partners-backed power company ERock raised $640M for a $4.7B valuation in its IPO
Carlyle is exploring an India IPO of an Indian RCM rollup comprising Knack RCM and EqualizeRCM
Japanese robot software developer Mujin plans to IPO by 2030
Japanese footwear brand ASICS will spin off its high-end Onitsuka Tiger business
German industrial engineering conglomerate Thyssenkrupp is considering letting investors vote on a potential spinoff of its materials trading unit tk accelis
Trump Media and Technology and TAE Technologies will not spin off social media platform Truth Social and other media assets
Debt
OpenAI and Nvidia are exploring backing a $500B AI data center project
Apollo and Blackstone partnered with Broadcom to launch an AI infrastructure platform, backed by an initial record $35B private credit deal to help Anthropic lease Google TPUs
Amazon raised $17.5B in bank debt from lenders including Citigroup days after wrapping up a record $10B Canadian dollar bond sale
SoftBank's talks to raise a $6B margin loan backed by OpenAI shares stalled
Nippon Steel raised $560M in its first straight-bond offering since completing its acquisition of United States Steel
Bankruptcy / Restructuring / Distressed
JPMorgan, Barclays, and Fifth Third won dismissal of a lawsuit by creditors over missed 'giant red flags' at collapsed subprime auto lender Tricolor
Funds / Secondaries
Carlyle is seeking to raise $15B for its ninth flagship fund
Ares raised $8.5B for its third ABF fund
Credit-focused Mycor Capital Management raised $800M from Millennium to boost AUM to $2.5B
Private credit firm Edge Focus is launching a JV with a large private credit manager to purchase $500M of consumer auto loans over 2.5 years
Talent agency CAA and TPG's Integrated Media Co. are launching a $250M holding company to roll up creator-led businesses
Crypto Sum Snapshot
Japan's largest banks will jointly issue stablecoins by March 2027
Mastercard tapped Coinbase, Ripple, and others for AI agent payments
Crypto Sum compiles the most important stories on everything crypto. Read it here.
Exec’s Picks
Joachim Klement shared some incredible findings on what kind of analysts add the most value. Read it here.
He also shared some highly insightful data revealing what you can learn from what fund managers say about their own performance.
Meme Cleanser
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*DISCLAIMER: Investment advice provided by Autopilot Advisers, LLC ("Autopilot"), an SEC-registered investment adviser. Past performance does not guarantee future results. Investing carries risks, including loss of principal. As always, be smart out there. Litquidity is compensated to promote AutoPilot. Compensation details available upon request.