SpaceX (NASDAQ:SPCX) shares rose 17% to $187.70 on Monday, the first full day of trading following the company's record-breaking initial public offering on Friday, when the stock closed at $161.11, pushing its market capitalization above US$2.2 trillion and placing it among the six largest companies in the world.
The gain puts SpaceX (NASDAQ:SPCX) roughly US$400 billion shy of overtaking its nearest rival, which carries a market cap of nearly US$2.7 trillion.
Tower Semiconductor (NASDAQ:TSEM) shares surged nearly 9% after the company signed a multi-year indium phosphide epiwafer supply agreement with IQE, targeting the fast-growing AI data center optical connectivity market.
Under the deal, IQE will supply InP epiwafers to support Tower's advanced silicon photonics platforms, including 200Gbps/lane pluggable transceivers and prototyping of 400Gbps/lane modulators, as well as optical circuit switches.
Nuvei has agreed to acquire Nasdaq-listed Payoneer Global (NASDAQ:PAYO) in an all-cash deal valuing the cross-border payments company at approximately $2.75 billion, sending Payoneer shares up 4.1%.
Under the terms of the agreement, Nuvei will pay $7.40 per share for all outstanding common stock of Payoneer.
Fox Corp (NASDAQ:FOXA) has agreed to acquire streaming platform Roku Inc (NASDAQ:ROKU) in a cash-and-stock deal valuing the company at approximately $22 billion in enterprise value, the companies announced Monday.
Under the terms of the agreement, Fox will pay $160 per share, comprising $96 in cash and 0.9693 Fox Class A shares. Fox shareholders will retain approximately 73% ownership of the combined company, with Roku shareholders holding the remaining 27%.
Seeing Machines Ltd (AIM:SEE, OTC:SEEMF, FRA:M2Z) shares rose 8% to 4.5p on Monday after the AIM-listed computer vision company announced design wins with two Japanese car manufacturers, with Peel Hunt arguing the contracts underscore a strategy that could deliver significantly more value than the headline $11 million lifetime figure suggests.
Peel Hunt, which has a 'buy' rating on the stock, said it believed one of the Tier 1 suppliers through which the deals were secured was almost certainly Mitsubishi, describing the wins as validation of Seeing Machines' model as a specialist Tier 2 supplier working through established distribution relationships rather than selling direct to manufacturers.