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OpenAI filed for an IPO, Jensen Huang called the tech selloff a buying opportunity, Chirayu Rana will refile his 'sex slave' lawsuit in federal court, NASA is partnering with Prada on astronaut suits, and the AI boom is giving rise to a unique new job opportunity in Silicon Valley: escorting.

BILL is hosting two webinars with finance and operations leaders seeking to cut through uncertainty, reduce risk, and build systems that scale with precision. Save your spot here.

Let's dive in.

Before The Bell

As of 6/8/2026 market close

Learn more about the Litquidity portfolios and subscribe to the strategies on Autopilot.*

Markets

  • US stocks closed higher yesterday on the back of chip stocks, which rebounded from Friday's selloff

  • Korean won rebounded from 2009-lows on an FX defense plan

Earnings

  • What we're watching this week:  

    • Wednesday: Oracle, Chewy

    • Thursday: Adobe, Lennar

  • Full calendar here

Prediction Markets

  • It's Kevin Warsh's time to shine

  • Trade event contracts on Polymarket, the world's largest prediction market

Headline Roundup

  • AI boom fuels $6k per hour escort job market in Silicon Valley (NYP)

  • Chirayu Rana will refile 'sex slave' lawsuit in federal court (NYP)

  • Jensen Huang says tech selloff is a buying opportunity (BBG)

  • Private credit boom cools as lending and flows slow sharply (RT)

  • Corporate Japan faces ratings risk as it ramps up borrowing (BBG)

  • SpaceX IPO jolts life back into European retail investing (RT)

  • Partners Group co-founder blamed a short-seller for share slump (BBG)

  • Apple investors give lukewarm reaction to new Siri and AI platform (BBG)

  • Google tapped Intel to manufacture 3M TPUs (RT)

  • Meta launches academy to train workers to build data centers (WSJ)

  • A judge blocked Trump's $100k H-1B visa application fee (BBG)

  • Jensen Huang declined Senate testimony on AI, China and exports (CNBC)

  • Pentagon restores Alibaba and Baidu to Chinese military groups blacklist (FT)

  • Private jet market defies Iran war gloom as rich flock to Monaco (RT)

  • NYC plans World Cup watch party for 50k in Central Park (BBG)

  • Prada unveiled astronaut suits for NASA moon mission (RT)

A Message from BILL

Want clarity to cut through uncertainty and build systems that scale with precision?

Register now for BILL's live event: Control at scale.

10am PT on June 25. Attend live to earn up to 2 CPE credits. 

Deal Flow

M&A / Strategic

  • Italian lender Intesa Sanpaolo made an unsolicited $35B cash-and-stock bid for peer BMPS just hours after rival Banco BPM proposed a $58B merger

  • Hg-backed PE fund administrator Gen II is exploring a $6B sale

  • PAI Partners, the long-time PE partner of foods giant Nestle, dropped out of bidding for a 50% stake in its $5.8B water business

  • French telecoms giant Orange acquired full ​ownership of MasOrange, ‌Spain's largest telecoms operator, after buying ​out JV partner ⁠Lorca in ⁠a $4.9B deal

  • Food ingredients firm Ingredion agreed to acquire UK peer Tate & Lyle in a $3.6B cash deal at a 60% premium 

  • Swiss pharma giant Roche struck a deal with Nurix Therapeutics to license a blood-cancer drug for up to $2.3B

  • Biotech Incyte Pharma will acquire ​Vega ​Therapeutics, the blood disorder-focused subsidiary of Star Therapeutics, in a $2B deal 

  • Johnson & Johnson will ​acquire cancer biotech Firefly Bio for $1B cash

  • Carlyle agreed to acquire Korean home appliance rental platform Chungjo Nais for $700M

VC

  • Databricks is in early talks to raise a Series M at a $170B valuation

  • Chinese AI startup Moonshot AI is seeking to raise a $2B round at a $30B valuation

  • UK physics AI startup PhysicsX raised a $300M round at a $2.4B valuation led by Singapore SWF Temasek

  • Hiive, an online platform for private market shares, held talks for a secondary share sale at a $780M valuation

  • PointFive, a cloud and AI cost management platform, raised a $60M Series B led by Accel

  • Stepful, a training platform for the healthcare workforce, raised a $55M Series C led by Oak HC/FT 

  • EDGE Markets, a financial services company for gaming, crypto, and prediction markets, raised a $29M Series A led by CoinFund

  • NewOrbit, a UK VLEO satellite manufacturer, raised an $18.5M Series A led by Voyager Ventures 

  • Folio Photonics, a developer of multilayer optical archival discs, raised an $8M Series A led by Material Impact and The O.H.I.O. Fund  

Access the complete VC deal flow and data on Fundable

IPOs / Listings / Issuances / Block Trades

  • OpenAI filed confidentially for an IPO

  • Italian app investor Bending Spoons filed for a US IPO seeking a $22B valuation

  • Indian rapid-commerce firm Zepto filed for a $1B India IPO

  • Brewery giant Carlsberg is preparing to file for a $700M India IPO of its India unit

  • Goldman-backed Japanese taxi app Go priced its Japan IPO at the top of a marketed range to raise $550M for a $1.2B market cap

SPAC / SPV

  • Quantum Space, a spacecraft startup led by ex-NASA chief Jim Bridenstine, will merge with Inflection Point Acquisition Corp. VI at a $1.2B valuation

Debt

  • Amazon raised $10B in the biggest ever Canadian-dollar bond sale

  • Chinese tech giant Tencent is seeking to raise $4B in a dollar and offshore yuan bond sale

  • Universal Music Group is seeking to raise $1.2B in a bond sale just days after rejecting a takeover offer from Bill Ackman's hedge fund Pershing Square

  • A Blue Owl private credit fund, which earlier limited redemption requests, raised $500M in an investment grade bond sale

Bankruptcy / Restructuring / Distressed

  • Collapsed auto parts supplier First Brands can try again to seek court approval for a creditor vote on a proposal to raise money through lawsuits against the firm's execs and lenders

  • Creditors led by American Industrial Partners are negotiating a deal with Audax-backed Innovative Chemical Products Group to swap existing debt for equity in a restructuring

Funds / Secondaries

  • Blackstone is looking to sell over $2B of PE GP stakes via collateralized fund obligations 

  • Investment firm Future Standard raised $2B for its fifth PE secondaries fund 

  • West African investment firm ARM-Harith Infrastructure Investments plans to raise $200M for energy and climate infrastructure projects across sub-Saharan Africa

  • German wealth manager Liqid raised $115M for a third VC FOF

Crypto Sum Snapshot

  • SBF formally applied for a Trump pardon 

  • Strategy resumes Bitcoin buying after rare sale roils crypto

  • Bitcoin's $235B crash masks bigger shift in crypto

Crypto Sum compiles the most important stories on everything crypto. Read it here.

Exec’s Picks

Financial Services Recruiting 💼

If you're a junior banker looking for your next career move, check out Litney Partners, a recruiting firm established by Litquidity and Whitney Partners (the oldest purely financial services executive search and consulting firm).

We aim to place strong candidates across private equity, hedge funds, venture capital, growth equity, credit, and investment banking.

We're currently seeking talent for some incredible roles. Head over to Litney Partners to drop your resume / create your profile and we'd love to get in touch!

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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.

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