Huang Renxun Joins Stock Market Pump Team | Rewire News Morning Report

Renowned Huang Endeng Mentions Marvell as the Next Trillion-Dollar Company. The White House Enacts a Toothless AI Executive Order, While SpaceX Launches the Largest IPO in History at $1.75 Trillion on the Same Day. Regulations are Requested, Markets are Pricing.

1 | Huang Endeng Publicly Endorses Marvell as the Next Trillion-Dollar Company, Interconnectivity Replaces Computational Power as New Bottleneck

Computex 2026 opens, and Huang Endeng surprises the audience by appearing on stage during Marvell CEO Matt Murphy's keynote speech, publicly predicting that Marvell will become the next trillion-dollar company by market capitalization. Marvell's stock price rose by 7% on that day, reaching a new all-time high. This is a rare occasion where Huang Endeng publicly endorses a single partner to the "Trillion-Dollar Club" level.

The logic behind the endorsement lies in the shift of the AI data center bottleneck. Huang Endeng emphasizes Marvell's role in high-speed interconnectivity and custom ASICs. As the computational power ceiling is reached by NVIDIA itself, the bottleneck is shifting from single-chip processing power to chip-to-chip communication. Marvell is also developing custom AI chips for Amazon and Microsoft, posing a potential competition to NVIDIA. On March 31, NVIDIA invested $2 billion in Marvell, binding to the NVLink Fusion interconnect standard. Huang Endeng's endorsement is a signal to the industry: the interconnect standard is in NVIDIA's hands, and those developing custom chips would be wise to join in.

(Source: CNBC / Digitimes / Yahoo Finance / NVIDIA Computex)

2 | Trump Signs AI Executive Order, Voluntary Review of 30 Days Replaces Mandatory Approval

On Monday, Trump signed an AI executive order, requiring tech companies to voluntarily provide a 30-day testing window to the government before deploying their strongest models. The executive order explicitly prohibits establishing a mandatory approval or pre-approval system. The 30-day period is a compromise: a leaked draft previously called for a 90-day pre-approval period, pressure from Silicon Valley lobbyists reduced it to 14 days, finally settling at 30 days.

The executive order also calls for federal agencies to develop AI network security capability assessment criteria and establish an AI network security information exchange center. However, the core signal is not in the detailed provisions but in the posture. The White House needs to show "I am regulating AI" but cannot afford to alienate tech companies that are contributing political donations to the Republican Party. The end result is a document that skillfully sits in a position of "looking useful but not actually hindering anyone."

(Source: NPR / NBC / CNBC / The Washington Post)

3｜Microsoft Build 2026, From Quantum Chip to Autonomous AI

Microsoft unveiled three key announcements at Build 2026. Scout is an always-on personal AI agent that proactively coordinates schedules, drafts documents, and flags risks across Teams, Outlook, and OneDrive without waiting for user input. The Majorana 2 quantum chip has increased the quantum bit lifespan by 1000 times compared to the previous generation, allowing Microsoft to cut the roadmap to a scalable quantum computer in half to 2029. The third announcement is a comprehensive hardware partnership with NVIDIA to deploy AI agents to local Windows devices and the cloud. Microsoft also simultaneously released seven in-house "MAI" foundational models, including the first inference model, Mai-Thinking-1.

From chips to models to AI agents, Microsoft is building a complete tech stack independent of OpenAI.

(Source: Microsoft / Yahoo Tech / The Neuron / Seeking Alpha)

4｜SpaceX Launches IPO at $1.75 Trillion Valuation, Largest Public Offering in History

SpaceX plans to go public on June 12 on the NASDAQ under the ticker symbol SPCX, with a valuation of $1.75 trillion and raising approximately $750 billion, more than 2.5 times the size of the 2019 Saudi Aramco IPO ($294 billion). The company had previously merged with Musk's xAI, with over 9 million Starlink users, and is expected to generate $150 to 160 billion in revenue, forming the core support for the valuation.

The roadshow will start on June 4, with pricing on June 11. The $1.75 trillion valuation means SpaceX would enter the ranks of Meta and Berkshire upon listing, positions that took those two companies several decades of public market operation to achieve. In the same week, Anthropic is also advancing its IPO, marking a surge in mega IPOs, breaking through the ceiling of the private market systemically.

(Source: CNBC / Crypto Briefing / TradingKey / SEC)

5｜European Central Bank Confirms Gold Overtakes US Bonds as Top Global Reserve Asset

A recent report from the European Central Bank revealed that by the end of 2025, gold accounted for 27% of global central bank reserve assets, up from 20% a year earlier, while US Treasury bonds decreased from 25% to 22%. This marks the first time since 1996 that foreign institutions have held more gold than US Treasury bonds. According to the World Gold Council, the value of gold held by central banks worldwide is close to $4 trillion, surpassing the approximately $3.9 trillion in US Treasury holdings.

Behind the numbers is a structural shift. Following the U.S. freezing Russia's dollar reserves in 2022, China, Poland, Turkey, and India continued to aggressively purchase gold. Christine Lagarde, President of the European Central Bank, bluntly stated that "geopolitical tensions continue to drive central bank gold demand." De-dollarization is no longer a mere rhetoric but a structural reality confirmed by European Central Bank data.

(Source: European Central Bank / Financial Times / Mining.com / World Gold Council)

6｜Uber Burns Through Full-Year AI Budget in Four Months, Implements Monthly Cap per Engineer

In the first four months of 2026, Uber exhausted its full-year budget for AI programming tools. The company then implemented a hard monthly cap of $1500 per engineer for each tool, targeting intelligent programming tools like Cursor and Claude Code. Previously, individual engineers' monthly token consumption ranged from $500 to $2000.

The company also launched an internal dashboard for real-time tracking of the usage and costs of each AI tool, and established an approval process for overages. Uber's experience is not an isolated case. As AI programming tools transition from experimentation to enterprise-wide deployment, the explosive growth in token consumption is becoming one of the most unexpected cost items in corporate AI adoption.

(Source: TechCrunch / Bloomberg / PYMNTS / SEC)

Also Worth Knowing ↓

Trump appoints Federal Housing Finance Agency Director Bill Pulte as Acting Director of National Intelligence, replacing Gabard who resigned due to her husband's bone cancer diagnosis. Pulte has no intelligence experience and continues to serve as FHFA Director and Chairman of Fannie Mae and Freddie Mac. Wearing three hats, the Director of National Intelligence has become a part-time role.

(Source: CNBC / Mediaite)

Anthropic expands its Mythos model and Project Glasswing security scanning to 150 organizations in 15 countries, covering critical infrastructure such as electricity, water, healthcare, and communications. The initial 50 partners have discovered over 10,000 high-risk or critical security vulnerabilities. New partners include Samsung, SK Hynix, NATO, and the EU Agency for Cybersecurity (ENISA).

(Source: Anthropic / TechCrunch / CNBC)

Bernie Sanders introduces the "U.S. AI Sovereignty Wealth Fund Act," requiring the largest AI companies to pay a one-time 50% tax in the form of stock, with the federal government receiving voting rights and equal board seats. Specifically mentions OpenAI, Anthropic, and xAI. The probability of the bill passing is very low, but the politicization of AI wealth distribution has already begun.

(Source: The Washington Times / Tom's Hardware / Benzinga)

SK Hynix announces HBM production capacity doubling plan, expanding South Korean and U.S. factories to meet the surge in demand for AI chips. On the same day, SK Hynix was included as a partner in the Anthropic Mythos security scanning, with AI demand driving both the physical expansion of the computing power supply chain and security reviews. (Source: Reuters / Cybersecurity Dive)

Meta reduces the scale of mouse tracking data collection on Facebook and Instagram, after the feature drew attention from European privacy regulators. Data collection has shifted from full-scale to sampling, but Meta has not completely halted this practice. (Source: The Verge)

Bitcoin falls below the $69,000 mark, retracing some of last week's gains. Global risk assets face short-term fund outflows ahead of mega IPOs like SpaceX's. (Source: CoinDesk)

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