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Live updates: Bitcoin rises above $83,000 as SpaceX results, possible Tesla merger, lift markets

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Live updates: Bitcoin rises above $83,000 as SpaceX results, possible Tesla merger, lift markets

South Korea data center player Elice surged 30% after plunging about the same amount following its IPO one day earlier.

Ken Griffin, CEO of Citadel, says AI is “almost certainly” in a bubble, with companies struggling to translate heavy spending into productivity gains and profits. However, he expects the technology to drive entrepreneurship and create lasting market leaders.

While, BlackRock CEO Larry Fink warns that slowing data center construction could fuel inflation by keeping computing costs high and threaten economic growth. Fink argues faster expansion would lower costs as AI demand accelerates, while warning that rising Treasury yields reflect mounting concerns over the US fiscal deficit.

After plunging 32% following its IPO Tuesday — and taking U.S. peers down along with it — South Korean data center player Elice surged 30% overnight (the daily limit), though still remaining below its IPO price.

Helping things were strong preliminary results from the U.S.’s Super Micro Computer (SMCI), which is higher by 12% pre-market. The company sees third-quarter sales of $18.5 billion - $19.5 billion, far ahead of estimates for $15 billion.

Strong results from SpaceX, as well as possible merger plans with Tesla, are also lifting animal spirits.

Among the neoclouds bouncing pre-market: CoreWeave (CRWV) +2.9%, IREN IREN +4%, Hut 8 HUT +4.4%, TeraWulf WULF +5%.

S. 9%. Bitcoin is off yesterday’s lows, rising to $83,400.



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