TLDR 

MARKET RECAP → The S&P 500 (VOO) closed higher on Monday after making up for earlier losses that briefly brought the index to a six-month low.

XAI ACQUIRES X IN $33 BILLION DEAL → Elon Musk's xAI acquires social media platform X (formerly Twitter) for $33 billion (after $12 billion in debt), aiming to integrate AI capabilities with X's user base and vast corpus of data.​

NEWSMAX'S SPECTACULAR NYSE DEBUT → Newsmax (NMAX) shares skyrocketed over 700% on their NYSE debut, following a $75 million IPO and prior $225 million private offering, underscoring the company's rapid growth in the media landscape.​

MARINE LE PEN BARRED FROM OFFICE AFTER CONVICTION → 🚫 Marine Le Pen’s 2027 presidential hopes were torched after a conviction for embezzling EU funds got her banned from office for five years—throwing France’s far-right into full-blown damage control.

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TODAY’S TOP NEWS

xAI Acquires X in $33 Billion Deal

Strategic Acquisition Announced: Elon Musk's artificial intelligence company, xAI, has acquired the social media platform X (formerly Twitter) in an all-stock transaction valued at $45 billion, including $12 billion in debt. This deal values xAI at $80 billion and X at $33 billion. ​

Integration of Resources: Musk emphasized that the merger aims to combine data, models, computing power, distribution, and talent from both companies, unlocking immense potential by blending xAI's advanced AI capabilities with X's extensive reach. ​

Enhanced AI Capabilities: The integration is expected to bolster xAI's competitive edge, particularly through the incorporation of its chatbot, Grok, providing significant advantages in the AI sector.

TODAY’S TOP NEWS

Newsmax's Spectacular NYSE Debut

Explosive Market Entry: Newsmax (NMAX) made a dramatic entrance on the New York Stock Exchange, with shares soaring over 700% from the IPO price of $10 to a peak of $82.25, valuing the company at approximately $8 billion.

Successful Fundraising Efforts: Prior to its public debut, Newsmax raised $225 million through a private preferred stock offering in February, followed by a $75 million initial public offering, selling 7.5 million shares at $10 each. ​

Strategic Growth Initiatives: CEO Christopher Ruddy stated that the IPO proceeds will accelerate growth initiatives, expand programming, and enhance Newsmax's digital presence, solidifying its position as the fourth-most-watched news channel in the U.S. ​

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TODAY’S TOP NEWS

Marine Le Pen Barred From Office After Conviction

🧾 Le Pen Convicted of Embezzlement: Marine Le Pen was found guilty of misusing EU funds and handed a four-year prison sentence (two suspended, two with electronic monitoring), plus a €100K fine. More significantly, she was barred from holding public office for five years—an immediate blow to her 2027 presidential bid.

🗳️ Fallout for France’s Far-Right: The ruling threw France’s far-right into disarray, halting Le Pen’s political momentum and destabilizing her National Rally party. Allies like Jordan Bardella and Italy’s Matteo Salvini framed the decision as an assault on democracy, while Hungary’s Viktor Orban publicly backed her.

💸 Millions Misappropriated: Le Pen and 24 party members were accused of diverting €3M in EU funds to pay domestic staff. The court ruled the funds were used to support party activities, not parliamentary duties—making this not just a political scandal, but a financial one too.

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