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Industry

SpaceX IPO countdown raises fears of repeat of Figma, Cerebras slump

Jim Cramer raised concerns that SpaceX shares could soar excessively ahead of its IPO, triggering damaging market effects. He assessed the risk of abnormal price spikes on the first trading day and the entry of inexperienced investors using market orders. SpaceX is set to begin trading on June 12 at an IPO price of $135 a share, valuing it at $1.77 trillion. Cramer cited Figma and Cerebras as examples of post-IPO slumps after early surges.

AI & Enterprise

Xiaomi open-sources terminal-based AI coding tool MiMo Code, claims it beats Claude Code

Xiaomi\'s MiMo AI team has released the terminal-based AI coding tool MiMo Code V0.1.0 as open source, VentureBeat reported. Xiaomi said the tool showed stronger performance than Anthropic\'s Claude Code on key agentic coding benchmarks, particularly on multi-step tasks of more than 200 stages. Xiaomi said it built MiMo Code by forking the open-source agent OpenCode and adding its own memory architecture and workflow mode.

Industry

BYD probes distrust of Tesla FSD with promise of full compensation for self-driving accidents

Tesla has delayed plans to unveil its next-generation Roadster again, pushing the schedule to after August as development linked to SpaceX thruster technology takes longer than expected. The company is also pursuing sensor reliability, including a patent for a camera system that cleans its own lens. Debate continues over the safety of unsupervised driving and compensation for self-driving accidents, as rivals such as BYD, XPeng and Rivian accelerate development and responsibility frameworks.