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Glonghui, June 16 — Ride-hailing app Go raised 88.6 billion yen (approximately $552.6 million) in its IPO, marking Japan’s largest initial public offering (IPO) so far this year. Go surged on its debut in Tokyo, jumping as much as 23% from its 2,400 yen issue price in early trading before paring some gains. By the end of the midday break, shares were up 8.8%. Founded in 1977, Go began as a taxi operator and has since evolved into Japan’s largest taxi-hailing app. The company plans to use the net proceeds to fund research and development for its autonomous taxi business and support its expansion plans, including mergers and acquisitions both inside and outside the taxi and ride-hailing industry.

The agreement between the United States and Iran has caused oil prices to fall and boosted the stock market, while Bitcoin's rebound remains sluggish. ETF outflows paused after reaching record levels, with the market waiting to reassess prices after the deal is signed.

BlockBeats reported that on June 16, in the latest episode of the BG2 podcast, Brad Gerstner described SpaceX as a "must buy, must hold" asset for institutional investors, reasoning that the company simultaneously sits at the forefront of both the space economy and the expansion of artificial intelligence computing power. BG2 is a Silicon Valley investment community podcast focused on technology, markets, investment, and capitalism. It is hosted by Altimeter founder and CEO Brad Gerstner and former Benchmark General Partner Bill Gurley. Gerstner himself is a technology growth stock investor who has long focused on cloud computing, AI, and high-growth technology companies. Gerstner stated that if investors believe in the direction of AGI, they must accept the premise that the scale of computing power required worldwide will far exceed current market expectations, and the economic value created by large models in the future will surpass most people's imagination. In his view, combining this assessment with SpaceX's core business makes it difficult to find another company or entrepreneur that offers a more direct future bet. Regarding disputes over the valuation of a potential IPO, Gerstner said that skeptics are focused on SpaceX’s revenue from last year and investment banks' forecasts of substantial revenue growth over the next three years, questioning whether many companies can achieve several-fold expansion in three to four years. However, he believes that if you break down the business using first principles, Starlink, ground-based AI computing power, and the model business after the Cursor acquisition all could support this growth trajectory. Gerstner also mentioned that after SpaceX signed new deals, its valuation multiple dropped from about 100 times past revenue to approximately 39 times, and noted that the company added about $29 billion in new orders within a month, which he considers extremely rare.