Private-Credit Redemption Wave Hits $7B, Citron Founder Convicted

Redemption windows at major non‑traded private credit funds closed this week, and early filings show investors asked to pull $7.1 billion in Q1, the highest amount Reuters tracked. The surge, driven by worries over software exposure, valuations and opaque structures, signals mounting liquidity strain in a $1.7 trillion market.

Andrew Left found guilty on 13 counts for using TV, social media and research reports to hype stocks while secretly trading opposite positions, netting at least $21M profit. Verdict threatens activist short‑selling model, could force stricter scrutiny and change industry practices.

Midjourney unveiled a full‑body scanner that integrates 40 Butterfly Ultrasound‑on‑Chip modules, promising radiation‑free, low‑cost imaging. Butterfly Network’s CEO highlighted the partnership as a major commercial opportunity, and the news sent BFLY shares up 17% in a single day.

Waymo is recalling almost 3,900 robotaxis after a software flaw let them ignore ramp‑closure signs and roll into active freeway construction zones in California and Arizona. The recall follows a similar flood‑zone recall last month and forces Waymo to tighten its freeway‑driving software before resuming full operations.

SpaceX’s post‑IPO market cap surge could translate into billions of extra recoveries for FTX’s bankruptcy estate. Creditors hope the firm’s steep valuation lift will push payouts beyond the 171% of claims already projected.

Australian miner Lynas Rare Earths signed a binding LOI to sell light and heavy rare‑earth oxides to the U.S. Department of Defense for about $96 million over four years, with a $110/kg floor price. The contract shores up U.S. defense supply chains and marks a concrete step in reducing reliance on China’s monopoly.

Hyperscalers will pour about $1.5 trillion a year into AI data centers by 2030, dwarfing past construction booms. External debt and equity are expected to fund up to 90% of the buildout, tying the cycle’s success to credit market health and raising systemic risk for the economy.

The Federal Open Market Committee kept the federal funds rate target at 3.5‑3.75% and reiterated ample banking reserves. It warned that inflation remains above the 2% goal, citing supply shocks, while noting solid job growth and economic expansion. The stance signals a cautious path toward price stability.

BWX Technologies has granted Applied Atomics an exclusive land‑based license to commercialize its mPower small modular reactor, securing royalty and manufacturing rights. The deal re‑activates a mothballed design as data‑center power demand spikes, giving BWX a new growth catalyst beyond its defense contracts.

Apple announced a partnership with Intel to design and manufacture its chips in the United States, a move touted by President Trump as a reshoring win. The deal promises steady demand for Intel, helping its turnaround and challenging TSMC’s dominance, while giving Apple a diversified supply chain.