SpaceX Record IPO, Microsoft Lawsuit, UK Social Media Ban

This week saw three major events in the tech world: a record-breaking IPO by SpaceX, a shareholder lawsuit against Microsoft, and a UK social media ban.

SpaceX's Record IPO

SpaceX priced the largest U.S. initial public offering ever, raising $75 billion. The company sold 555.56 million shares at $135 each, valuing it at approximately $1.77 trillion. This valuation makes SpaceX one of the most valuable companies globally, despite some analysts questioning whether the lofty valuation is justified. The company also said underwriters exercised the "greenshoe" option to purchase additional shares.

Microsoft Shareholder Lawsuit

Shareholders filed a class-action lawsuit against Microsoft, alleging the company inflated its stock price by failing to disclose slowing growth in its Azure cloud business and the need to spend billions on AI infrastructure. The lawsuit, filed Friday, was prompted by a 10% drop in Microsoft shares on January 29, which erased about $357 billion in market value. Microsoft said it believes the claims are "without merit."

UK Social Media Ban

British Prime Minister Keir Starmer announced a ban on social media sites for under-16s, along with restrictions on gaming and livestreaming platforms. This is among the world's most far-reaching online restrictions, set to take effect by next spring. The move aims to protect children online and push back against the power of big tech companies.