*as of 6/10; Sources: S&P, BTC, FTSE, DJRE, CL50

Meta’s $10 billion investment into startup Scale AI is coming into greater focus, as it is reportedly hiring Alexandr Wang, Scale AI’s founder and CEO, to lead its new AI research lab. The lab will focus on creating “superintelligence,” an AI system that surpasses human intelligence. Meta has estimated that it could spend up to $65 billion on AI infrastructure this year alone, as it aims to get ahead of its various competitors in the space.

➨ TAKEAWAY: Money, especially from big tech companies, is pouring into AI, as they believe that whoever wins the arms race stands to benefit. Nearly 75% of all AI VC deals this year have come from corporate backers, a big jump from the 54% number in 2022.

Partner

#1 A.I. Software to Find What to Trade

With thousands of assets to choose from, filtering through these to find the most promising ones can be daunting. 

What if I told you there is a search engine like the one you love and trust, but designed for traders like you to search and dominate the markets by accessing the most timely and accurate information? 

If you’ve never traded with predictive analysis or leading indicators... 

If you feel like you don’t have the time (or knowledge) to properly conduct thorough research and analysis... 

Come Learn (FOR FREE) the #1 A.I. to Find What to Trade 🔎

^{Please note examples are from past data and are success stories. Trading involves financial risk and is not suitable for all investors. Past results do not guarantee future performance.}

In this conversation, Slava Rubin and Christine Healey cover the world of pre-IPO investments, discussing the growing trend of companies staying private longer and the opportunity this presents for investors. They explore key terms and concepts related to pre-IPO investing, including share classes, liquidity preferences, and the importance of understanding investment structures like SPVs. The discussion also includes the practical aspects of navigating the investment process and the importance of due diligence.

This week has seen two major watch auctions, one on Monday at Christie’s and one yesterday at Sotheby’s, the latter of which saw the highest watch sale so far in 2025 with a 1957 Patek Phillippe 2nd Series 2499 going for $4.32 million. Nine other watches sold for more than $500,000, with several selling well above their high estimates. The Christie’s sale brought in just north of $11 million, with a Patek Phillippe also leading the way, with a 1992 3974R selling for $1.2 million.

➨ TAKEAWAY: The success of these two auctions is a good sign for the sector, which has been flagging. WatchChart’s overall market index is down 12.6% over the past two years, but the decline has flattened out recently, with the index down just 0.1% over the past three months.

🪙 Societe Generale stablecoin: The French bank is becoming the first major bank to launch a dollar-pegged stablecoin, having already launched a euro-pegged stablecoin in 2023. USD CoinVertible (USDCV) will be publicly traded and is the first of what is likely to be many new entries into the space.

💵 Private credit fundraising: There have been 176 private credit vehicles closed in the past year, the lowest number since at least 2020, and funds that closed in Q1 were open for a median of 23 months, the longest period recorded since 2008.

🏡 Insurance premiums rising: Since 2019, home insurance premiums have grown by an average of 38%, with Florida cities seeing particularly high increases. The rising costs have outpaced average gains in income, which in turn has increased the probability of falling behind on mortgage payments.

🏀 Historic NBA jerseys: Today, two iconic NBA game-worn jerseys open for bidding at Sotheby’s - a Steph Curry jersey from 2009 when he scored his first ever 3-pointer, and a LeBron James jersey from game 1 of the 2016 NBA Finals. Both carry estimates of more than $1 million, and the auction closes later this month.

🏢 Amazon investing in data centers: The tech giant announced a $20 billion investment into building AI data centers in rural Pennsylvania, highlighting the demand that AI is creating for industrial real estate.

🎨 MF Husain auction: Tomorrow, 25 rare paintings by the popular Indian artist MF Husain will hit the auction block after previously been locked away in a bank vault since 2008 and are expected to sell for up to $29 million in total.

One of the biggest gainers last week in the top-100 crypto tokens by market cap was the decentralized exchange Uniswap’s native token. This came on the heels of SEC Chair Paul Atkin’s comments indicating the agency is going to explore ways to make it easier for decentralized finance (DeFi) companies to operate without fear of regulation. The former CEO of Binance, CZ Zhao said June 9th will be “remembered as DeFi day” while other DeFi related tokens such as AAVE and SKY also saw big gains in their prices.