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So... Which is it going to be?

The fate of some of Napa Valley’s best-known wineries remain uncertain.

Burger King is adding fuel to the fast-food fire with a hot new summer menu item.

Researchers at Forum AI conducted an audit of four-leading chatbots: OpenAI’s ChatGPT, Anthropic’s Claude, Google’s Gemini and xAI’s Grok.

Democrats are choosing instead "to suppress their gag reflex for the 'greater good'" of getting the candidate elected, the Pennsylvania senator said.

Iran is planning to execute boxing champion Mohammad Javad Vafaei Sani.

Ringing The Bell: Meta Plunges On Report It May Sell "Tens Of Billions" In New Stock

They don't ring the bell at the top, but they sure do sell a lot of stock.

With SpaceX, Anthropic and OpenAI looking to IPO hundreds of billions in common stock (not counting even more hundreds of billions in lock up expirations that will hit the market soon)...

... coupled with Google's record $80 Billion follow on offering (of which half was a memestock-esque At The Market offering direct to retail), suddenly the cash-incinerating AI companies - already full to the gills with SPV and various other forms of debt - are realizing that if they don't move fast they will miss the boat.

And sure enough, FT reports that arguably the biggest cash burner of the lot, Meta, is considering raising tens of billions of dollars in a stock offering as it seeks new sources of capital to fund Mark Zuckerberg’s vast ambitions in AI, following the launch of Google’s record $85bn share deal this week.

According to the report, company execs have been exploring “creative” ways to raise cash as it prepares to sharply boost its AI-related capital expenditures to as much as $145bn this year and even higher in 2027, according to three people familiar with the plans.

The discussions intensified after the success of Google parent Alphabet’s equity raising this week, which was increased by $5bn after strong investor demand, but - as noted above - GOOGL has a much more viable cash flow profile than Meta, which will be FCF negative this year.

The news sent META stock plunging to the lowest level since early April. 

Meta’s decision to consider a fresh share sale comes amid a frenzy of activity in US equity capital markets, with Elon Musk’s SpaceX set to hold its initial public offering next week and AI groups Anthropic and OpenAI also working on plans for massive Wall Street debuts. 

Mega tech companies have also tapped debt markets - which as we said last year AI is also now a bubble - as they rush to finance AI infrastructure, including chips and data centers.

Meta CFO Susan Li is leading the talks over the potential share sale alongside Dina Powell McCormick, who moved from Meta’s board to take a more active role as president in January. Powell McCormick has been tasked with overhauling Meta’s approach to AI infrastructure and financing, with a focus on longer-term planning as it enters the most capital-intensive period in its history.

Meta must find new ways to fund the huge data centers needed to train and run advanced AI models to fulfil Zuckerberg’s vision for “personal superintelligence” delivered through Facebook, WhatsApp and Instagram, as well as a family of AI-powered wearables such as smart-glasses and voice pendants.

Meta has not yet hired banks and ultimately may not issue new stock. One person cautioned that it was “premature” to say that the company had decided what to do and all financing options remain on the table.  A Meta spokesperson said the share sales talks were “pure speculation”, but added “we’ve been clear that huge opportunities lie ahead in AI, and we’ll continue focusing on raising capital in the most flexible ways to support that”.

A person familiar with Meta’s discussions said the group had looked at the structure of Alphabet’s capital raising, which included “mandatory convertible preferred issuance”. This allows it to raise cash immediately, but defers the stock issuance potentially for years.

According to the FT report, Goldman Sachs would be in a strong position to win the Meta mandate considering Powell McCormick spent 16 years at the investment bank. The Wall Street bank led the Google deal announced this week. 

As noted above, Meta exces are conscious that they will have to move fast if they decide to raise equity to ensure capacity and investor enthusiasm remain amid a historic glut of activity in US public markets. SpaceX is set to raise as much as $86bn next week in an IPO that would value the group at $1.78tn. Claude maker Anthropic has confidentially filed for its own listing and rival OpenAI is also preparing to go public. Both are expected to raise tens of billions and attract $1tn-plus valuations.

Analysts say that Meta’s Big Tech rivals such as Microsoft and Amazon are also likely to be considering their own stock sales as their data centre spending surges and investors question the impact on their balance sheets.

Meta has already raised fresh capital through new means and innovative structures. The company had less than $10bn in long-term debt as recently as 2022, but borrowed $55bn in globe-trotting deals in recent months. In October, it raised $27bn in a bond sale through a joint venture with private capital firm Blue Owl to build a Manhattan-sized data centre in Louisiana dubbed “Hyperion”. Something we warned would soon become an off balance sheet template for all Mag 7s.

As a reminder, META is already neck deep in off-balance sheet debt. Here is a schematic of its $27.3 billion SPV with Blue Owl "Project Beignet" for the Hyperion data center. None of this touches META's balance sheet.

Expect hundreds of billions of these in 2026 https://t.co/794EgSiiZ9 pic.twitter.com/7hMyVW6Lno

— zerohedge (@zerohedge) January 29, 2026

Meta has also been conserving capital by cutting costs and other means. Last month it fired 8,000 people and stopped hiring for 6,000 roles.The company also halted share buybacks in late 2025 after repurchasing its shares regularly since 2017.

Google paused its buyback programme in the first quarter after repurchasing about $45bn last year, according to FactSet data and company filings.

Finally, those wondering why the Mag 7s are rushing to sell stock instead of do much cheaper debt offerings, we gave the answer exactly a month ago: "Banks Are Choking": The AI Debt Bubble Has Started To Burst.

Which only leaves equity sales, and just like that what went up in the past 2 months, is rapidly coming down. 

Tyler Durden Fri, 06/05/2026 - 15:40

Coinbase To Launch Token-Backed Mortgage Down-Payments This Summer

Authored by Turner Wright via CoinTelegraph.com,

Cryptocurrency exchange Coinbase will allow qualified borrowers to pledge digital assets to fund Fannie Mae-backed mortgage apartments beginning this summer.

In a Thursday notice, Coinbase and its partner, Better Home & Finance, said the mortgage structure plan launching “by summer 2026” will allow borrowers to initially use Bitcoin (BTC) or USDC (USDC) as collateral for loans to fund down payments for homes. The initiative, first announced in March, represented a significant shift in companies allowing digital assets to be used for financing houses. 

“We’re excited to expand access to all qualified borrowers to fix an ongoing issue: buyers who qualify on every measure that matters but cannot clear the down payment hurdle because their wealth isn’t where the system expects to find it,” said Better founder and CEO Vishal Garg.

Garg said in a March post on X:

“This isn’t a niche thing. It’s what everyone is going to do once most financial assets are tokenized. It’s just a better way to buy a house.”

The move by Coinbase and Better followed US regulatory agencies under the Trump administration being friendlier to crypto companies and more accepting of digital assets integrated with traditional finance. In June 2025, the US Federal Housing Finance Agency (FHFA) directed Fannie Mae and Freddie Mac to consider crypto as an asset in mortgage risk assessments without requiring a conversion into fiat.

Other mortgage lenders have made similar moves since the FHFA order. In February, Newrez began allowing borrowers to use their cryptocurrency holdings to qualify for a mortgage application.

Source: Bill Pulte

Volatile crypto-backed mortgages scrutinized for political motivations

Although the price volatility of cryptocurrencies like Bitcoin may present challenges to the mortgage plan, some US lawmakers have accused FHFA head Bill Pulte of being “unduly influenced” by President Donald Trump in supporting such policies.

“Expanding underwriting criteria to include the consideration of unconverted cryptocurrency assets could pose risks to the stability of the housing market and the financial system,” said five US senators in a July 2025 letter to Pulte following the FHFA order.

Republican lawmakers, including crypto proponent Cynthia Lummis, have proposed codifying the FHFA order into law. She introduced the 21st Century Mortgage Act in July 2025, saying government agencies “must evolve to meet the needs of a modern, forward-thinking generation.”

Tyler Durden Fri, 06/05/2026 - 15:40

The US president said on Friday he expects to meet the leaders of top AI companies next week.

The cast paid tribute to the late star after his shocking passing at 72.

The cast paid tribute to the late star after his shocking passing at 72.

Canada will get an appropriate test in its final friendly before the World Cup.

Congressman Kevin Kiley was one of the main targets of Proposition 50, the Democratic-backed redistricting effort passed by voters last year.

After New York audiences check out the sixth film in the long-running horror spoof film franchise this weekend, they can head to Cecchi’s restaurant in the West Village where one of its stars, Cameron Scott Roberts, works as a server. 

After New York audiences check out the sixth film in the long-running horror spoof film franchise this weekend, they can head to Cecchi’s restaurant in the West Village where one of its stars, Cameron Scott Roberts, works as a server. 

EPA Administrator Lee Zeldin dished to The Post about his “die-hard” love of the team — saying players haven’t had such good chemistry since the days of Patrick Ewing and Hubert Davis in the 90s.

Mike Evans is making a strong impression on his new 49ers teammates, while his former quarterback is missing him nearly 3,000 miles away.

Handy was found unconscious at his home in Tarzana, California, on Wednesday.

Handy was found unconscious at his home in Tarzana, California, on Wednesday.

Say hello to pasture-perfect skin.