SpaceX joins Nasdaq‑100 as Nvidia execs cash out $40M

SpaceX (SPCX) will be added to the Nasdaq-100 on July 7, 2026 under Nasdaq's fast‑track inclusion framework. The move forces index‑tracking funds to hold the stock, likely boosting passive demand and liquidity. It also signals Nasdaq’s confidence in SpaceX’s rapid post‑IPO growth, setting a precedent for future high‑profile entrants.

On June 17, Jensen Huang, Colette Kress and three EVPs sold roughly $40 million of Nvidia stock, the largest coordinated insider sell in the AI‑hardware sector this month. The dump helped push sector‑wide insider selling to $153 million, a 61% share of all sell orders, hinting insiders see deteriorating momentum.

The Nasdaq slipped 2.2% for a second straight day as investors demanded proof that massive AI budgets will deliver profits. Chipmaker Nvidia fell 4.2% and Alphabet dipped, while the broader S&P 500 lost 1.4%, signaling that hype around AI may be reaching a breaking point.

Polymarket said its U.S. exchange, opened six weeks ago, is generating over $1 billion in annualized revenue, driven by World Cup trading and a lifted waitlist. The milestone signals rapid consumer appetite for regulated prediction markets and positions Polymarket as a major player in the emerging U.S. crypto‑trading space.

OpenAI is releasing its most powerful model, GPT‑5.6 Sol, only to a small group of trusted partners whose participation has been shared with the U.S. government, per a blog post. The staged preview means broader access will follow in weeks, but the initial rollout is effectively gated by federal approval.

Tesla’s robotaxi pilot is limited to about 20 unsupervised Model Y cars, with Cybercab production still on a slow ramp and revenue unlikely before 2027. Waymo now runs nearly 4,000 driver‑less taxis serving half‑a‑million rides weekly, while Uber has staked $500 million in Nuro and a 35,000‑vehicle Lucid fleet to accelerate its own service.

Steve Eisman warns that investors are overpaying for AI‑linked hype, using SpaceX as the poster child. He points out the rocket firm’s $19 billion revenue is being valued at >100×, a multiple no mature company has ever justified, and says the AI narrative is masking a classic bubble.

Qualcomm announced its Dragonfly C1000 server CPU aimed at agentic AI, targeting $15 billion data‑center revenue by 2029, with Meta committing to use the chip from 2028 and Microsoft also on board. This pushes the handset‑centric chipmaker into a market dominated by Nvidia, betting on power‑efficient designs.

A new Protiviti survey of 852 global execs finds CIOs and CTOs twice as confident as CEOs that AI will boost revenue, 61% versus 34%. The misalignment is linked to slower AI value realization and weaker transformation performance, with data governance and talent gaps compounding the problem.