Bitcoin rose more than 10% over the past 24 hours, breaking above $70,000 after hovering near $60,000 for months. Ether gained 20%, while XRP added 15% and Hyperliquid climbed 25%. Earlier this month, BlackRock sent the market an unexpected signal. Separately, U.S. federal debt crossed $40 trillion for the first time as the Treasury said it will step up long-term bond buybacks to rein in borrowing costs.

Ferrari’s first electric car, the Luce, sold for $40 million at an RM Sotheby’s auction, far above its $1.1 million estimate, making it the most expensive new car ever sold at auction. The model’s debut initially drew skepticism, with Ferrari shares sliding about 8% before rebounding roughly 25% from the post-launch low. Proceeds from the sale will be directed to the Ferrari Foundation’s education programs.

The U.S. Treasury said it will at least double the size of some long-term bond buybacks, raising them from $2 billion to $4 billion per operation. Bitcoin then surged, at one point nearing the $70,000 level. Over the past 24 hours, it climbed from a low of about $64,400 to $69,700, a gain of more than 8%. Short covering further amplified the intraday move.

Microsoft said Microsoft Cloud annualized revenue exceeded $168 billion in fiscal 2025, up 23%. GitHub Copilot revenue rose more than 60% quarter on quarter as the company expanded usage-based pricing, supporting growth in its commercial cloud business. Overall revenue growth accelerated to 17.8%, while net margin reached 40.3%, a three-year high.

Anthropic confidentially submitted a draft IPO registration statement on June 1 and could list after the SEC completes its review. Its annualized revenue run rate climbed from $14 billion in February to more than $47 billion in May, while its private valuation rose from $380 billion to $965 billion over the same period. Investors are discussing an IPO valuation of $2 trillion-plus, though some view the upside beyond something approaching $1 trillion as limited.

On Aug. 6, SpaceX’s lockup expired for up to 911.5 million shares, a potential release valued at about $105 billion. That day, the SpaceX-tracking fund SPCX rose 6.14% on volume about 3.4 times its usual level, then added 15.8% in the next session and closed back above its $135 IPO price on Aug. 10. The fund later fell 3.76%, even as insider-trading data show only 17% of companies see insider selling during the unlock window.

AI company Anthropic is preparing an initial public offering in October, with shareholders seeking a valuation of more than $2 trillion. Investors point to a sharp rise in annualized revenue run rate, from about $1 billion at the end of 2024 to $47 billion in May. They project the run rate will reach $100 billion to $120 billion by December, according to the Financial Times. In late May, a $65 billion private round valued the company at $965 billion.

“The Odyssey” has become the first major commercial film shot entirely on IMAX large-format cameras, helping lift IMAX shares 30%. The U.S. Federal Aviation Administration certified Boeing’s 737 MAX-7, ending a decade-long review and sending Boeing shares up 8% on the day. Both developments mark significant company-specific business milestones that bolstered investor confidence in product commercialization and regulatory prospects.

Alibaba on Monday released Qwen3.8-Max, its largest and most powerful AI model to date, with 2.4 trillion total parameters. The model supports a context window of up to 1 million tokens and uses a sparse MoE design that activates 95 billion parameters per inference. After the announcement, Alibaba shares rose 4.5% in U.S. premarket trading and 7% in Hong Kong.