💰OpenAI’s Revenue Hit $10B

🌅Good morning. It's Tuesday, Jun. 10, and we're covering, U.S.-China Trade Talks Resume As Rare Earths Take Center Stage, OpenAI Doubles Revenue Run Rate To $10 Billion As AI Adoption Booms, RFK Jr. Fires Entire U.S. Vaccine Committee Amid Conflict Of Interest Concerns, and much more. First time reading? Sign up to get this newsletter: Sign up here. 

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MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $3.42 Trillion, a 3.76% increase in the last 24 hours.

• The total crypto market volume over the last 24 hours is $131.86B, which makes a 43.74% increase.

• The total volume in Defi is currently $37.56B, 28.48% of the total crypto market 24-hours.

• The volume of all stablecoins is now $125.88B, which is 95.47% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 63.69%, a decrease of 0.09% over the day.

Bitcoin Climbs Above $110K, Approaches All-Time High

Bitcoin surged over $110,000 for the first time since May, just 2% off its all-time high, in a "peaceful rally" that’s catching short sellers off guard. Ethereum also gained, while Hyperliquid’s HYPE and SUI tokens led altcoin gains. Analysts say the rally reflects renewed bullish momentum—though key macro data later this week could shape the next move. Over $330 million in crypto shorts were liquidated in a day, the largest flush in a month. BTC’s recent 10% dip appears to have washed out excess leverage. (Read Deeper)

BUSINESS & FINANCE

U.S.-China Trade Talks Resume As Rare Earths Take Center Stage

Top U.S. and Chinese officials are back at the table in London for a second day of high-stakes trade talks, focused on easing export controls and stabilizing global supply chains. Rare earths—critical for EVs, aerospace, and defense are the key sticking point. The talks follow a sharp 34.5% plunge in Chinese exports to the U.S. in May, the biggest drop since early 2020. The inclusion of Commerce Secretary Howard Lutnick, who oversees U.S. export controls, signals just how central rare earths have become to the negotiations.

WHY IT MATTERS: These talks are no longer just about trade—they're about controlling the raw materials and technologies that power 21st-century economies. With tariffs, export bans, and supply chain fragility all in play, even a temporary resolution could have ripple effects across markets. (Read Deeper)

Qualcomm To Acquire AI Chipmaker Alphawave For $2.4 Billion

Qualcomm is doubling down on AI. The chip giant announced it will acquire London-listed semiconductor company Alphawave for $2.4 billion in cash, marking a major push beyond smartphones and into AI infrastructure. The all-cash deal values Alphawave at 183 pence per share, a 96% premium over its price before deal talks became public. Alphawave makes ultra-high-speed connectivity tech used in data centers and AI systems, exactly the kind of chips powering tools like ChatGPT.

WHY IT MATTERS: This deal highlights how chipmakers are pivoting fast to ride the AI wave. Qualcomm's move signals rising competition in the data center and AI connectivity space, where Nvidia and AMD have taken early leads. For Alphawave, it’s a rare win for a UK-listed tech firm, now being absorbed into one of America’s semiconductor powerhouses. (Read Deeper)

TECHNOLOGY & SCIENCE

OpenAI Doubles Revenue Run Rate To $10 Billion As AI Adoption Booms

OpenAI’s annualized revenue run rate has hit $10 billion as of June — nearly doubling from $5.5 billion in December 2024. The company is now firmly on track to meet its 2025 revenue target of $12.7 billion, thanks to surging demand for its ChatGPT products and business offerings. The figure excludes revenue from Microsoft and large one-time deals, making the growth even more striking. With 500 million weekly active users and a growing enterprise footprint.

WHY IT MATTERS: In just over two years since ChatGPT launched, OpenAI has become a financial powerhouse — likely the fastest revenue ramp in software history. Despite losing $5 billion last year, the company's turnaround underscores how AI is transforming business models at lightning speed. (Read Deeper)

Apple Unveils iOS 26, “Liquid Glass” UI, Apple Intelligence Expansions At WWDC 2025

At WWDC 2025, Apple unveiled a sweeping redesign of its software ecosystem with the launch of iOS 26 and its new “Liquid Glass” UI, marking the biggest visual overhaul since iOS 7. The update introduces reflective, adaptive, and translucent elements across iOS, macOS, iPadOS, watchOS, visionOS, and tvOS — all now unified under the naming convention “26”. Other standout announcements included a dedicated Games app, Apple Intelligence-powered fitness tools, an upgraded CarPlay experience, and new AR/VR accessories for Vision Pro.

WHY IT MATTERS: Apple is under pressure — trailing in AI, facing App Store lawsuits, and dealing with developer tension. With WWDC 2025, the company is reasserting its design edge, rolling out smarter system-wide features, and finally aligning with the generative AI wave via “Apple Intelligence.” The Liquid Glass redesign may spark a new wave of visual identity across devices. (Read Deeper)

AROUND DE WORLD & POLITICS

RFK Jr. Fires Entire U.S. Vaccine Committee Amid Conflict Of Interest Concerns

U.S. Health Secretary Robert F. Kennedy Jr. has dismissed all 17 members of the Advisory Committee on Immunization Practices (ACIP), the CDC panel that guides national vaccine policy. Kennedy, a longtime vaccine skeptic, cited "persistent conflicts of interest" and claimed the committee had become a “rubber stamp” for pharmaceutical companies. Kennedy made the announcement in a Wall Street Journal op-ed, saying he wants to ensure Americans receive "the safest vaccines possible.”

WHY IT MATTERS: This is an unprecedented shakeup in U.S. public health governance. ACIP plays a critical role in shaping vaccine schedules and recommendations. The mass removal of top medical experts raises concerns that scientific rigor could be replaced with ideological influence—potentially affecting decisions on Covid, flu, RSV, and childhood immunizations. (Read Deeper)

Riots Erupt In Northern Ireland After Assault Case Sparks Outrage

Northern Ireland descended into violence Monday night as riots broke out in Ballymena following a protest over an alleged sexual assault case involving two teenage boys. Masked youths threw bricks, paint, and masonry at police officers and set buildings on fire, prompting a large response from the Police Service of Northern Ireland (PSNI). The suspects two Romanian teenagers—had appeared in court earlier in the day on charges of attempted rape. Tensions escalated after the court appearance, leading to widespread disorder in the town centre.

WHY IT MATTERS: This is one of the most serious outbreaks of civil unrest in Northern Ireland in recent years. The case has ignited deep emotions within the community, but officials warn that mob justice and disorder risk inflaming tensions and jeopardizing public safety. (Read Deeper)

ENTERTAINMENT & SPORTS

Warner Bros Discovery Splits Streaming From Cable In Massive Overhaul

Warner Bros Discovery (WBD) announced it will split into two publicly traded companies—one focused on streaming and studios (including HBO, DC, and Warner Bros), the other on legacy cable networks like CNN and TNT Sports. The move aims to unshackle the growth-oriented streaming unit from the slow decline of cable TV. The breakup reverses the 2022 WarnerMedia–Discovery merger and mirrors a broader trend of media giants restructuring to adapt to a streaming-first future. CEO David Zaslav will lead the streaming business, while CFO Gunnar Wiedenfels takes over the networks unit. (Read Deeper)

Fan Dies After Fall During Nations League Final

A tragic accident occurred during Sunday’s UEFA Nations League final between Spain and Portugal in Munich. A fan from Bavaria fell from the middle tier of the Allianz Arena into the media section below and died at the scene from his injuries. Authorities said there's no evidence of foul play. The incident happened as Portugal edged out Spain 5-3 on penalties after a 2-2 draw. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• Is Joe Lubin the Michael Saylor of Ethereum? ( Listen )

EXTRA BREVITI

• The Trump administration deployed 700 U.S. Marines to Los Angeles on Monday and vowed to double down on immigration raids across the country. (Read More)

• Michael Saylor Adds $110M in Bitcoin, Strategy Holdings Now Worth $62.5B. (Read More)

• World Fertility Rates in ‘Unprecedented Decline’, UN Warns. (Read More)