Manus Revenue Growth Strong, Early Investors Driving Buyback
June 18. Agentic AI startup Manus achieved rapid commercialization shortly after its launch. By the end of 2025, the company’s annual recurring revenue (ARR) stood at roughly $100 million, with a total revenue run rate exceeding $125 million. Its month-over-month growth rate topped 20%, earning Manus the title of “the fastest startup to reach $100 million in ARR.”
Against this backdrop, Manus’ early investors and Asian stakeholders hold differing perspectives. Asian backers are leaning toward a reverse merger with Meta that adheres to Chinese regulatory requirements, while a buyback financing option is now drawing fresh interest—fueled by Manus’ revenue potential, which is projected to hit nearly $1 billion in 2026. Per two individuals familiar with the matter, Manus’ early Chinese supporters are planning to repurchase the company from Meta at a $2 billion price, an amount Meta originally paid for Manus.
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Kuwait Starts Increasing Oil Production, Expected to Exceed 2 Million Barrels Per Day Within a Week
June 18 – Kuwait started increasing oil production on June 18, with expectations to push output above 2 million barrels per day (bpd) within a week. The country’s oil production is growing at a faster clip than previously anticipated. Meanwhile, Kuwait Petroleum Corporation (KPC) stated that Kuwait will immediately lift all force majeure declarations.
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FTX's Investment in SpaceX Could Yield Billions of Dollars
June 18 — Bankrupt cryptocurrency exchange FTX’s creditors could stand to benefit from SpaceX’s post-IPO market capitalization exceeding $2.5 trillion last week, according to key updates from the exchange’s bankruptcy proceedings.
Prior to FTX’s collapse in 2022, the failed exchange invested $190 million in SpaceX via a fund from venture capital firm K5 Global, court-related records confirm. Sunil Kavuri, the creditors’ representative, stated this week that FTX’s exposure to SpaceX could now be worth billions based on the space company’s current valuation. John J. Ray III, CEO of FTX’s reorganized bankruptcy trust, had previously noted that the performance of the K5 Global-led investment partnership is a critical driver for recovering assets for FTX’s claimants. (Source: Decrypt)
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The largest-ever S&P 500 Index options set to expire, potentially exacerbating market volatility
On June 18, the total open interest for SPX and SPY options expiring June 19 topped $5.1 trillion, marking the largest nominal options expiration in SPX history. According to analysis, traders are currently in a neutral gamma position, meaning their hedging flows are far less likely to provide the typical market support that would otherwise cap volatility, which could lead to elevated swings across equities markets.
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Wall Street Begins to Anticipate SpaceX Tesla Merger
June 18 — (via The New York Times) After SpaceX’s successful IPO, Wall Street is starting to bet big on a potential merger between the aerospace firm and Tesla. Investors, analysts, and even a senior SpaceX executive have been weighing the benefits of the deal across social media, research reports, and TV interviews, noting the two companies have long shared executives and resources while collaborating on multi-billion-dollar projects.
In a post-IPO CNBC interview, SpaceX President Gwynne Shotwell suggested the merger “might make Musk’s life a little easier,” adding it would drive synergies in areas like AI, energy, and robotics.
Legal experts flag a key risk: the deal would amount to Musk “doing a deal with himself,” which could spur shareholder lawsuits alleging harm to minority interests. Still, they say Texas law makes such challenges unlikely to succeed—both firms are registered in the Lone Star State, where corporate rules make it hard to overturn management decisions. Musk’s a
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