Elon Musk’s SpaceX is many different things to many different people — but one thing that it definitely isn’t is a get-rich-quick scheme.

Since its debut on the public tickers back in early June, SpaceX shares have sunk from a high of over $225 to a dismal $110 today, as compounding failures and overvaluation fears take their toll. Overall, SpaceX is down nearly 30 percent compared to its opening stock price of $150 — and all those day-one rubes are now seeing red.

“Elon has ruined me,” one Redditor posted on r/WallStreetBets, along with a screenshot showing a loss of nearly $455,000 CAD on thousands of SpaceX shares. “He was supposed to take us to Mars and burn short sellers. Still holding 7300 shares. Please Elon fly again.”

On Musk’s X-formerly-Twitter, investor’s spirits, like his rockets, weren’t any higher.

Under a post showing off SpaceX’s Starship at sunset, dejected Musk acolytes moped about their fortunes, begging the company to get its act together.

“It sure would be cool if this stops crashing… 30 percent short interest and down 40 percent on the month,” one fanboy groused. “I believed in you and lost over 20k in a month. I really hope that it comes back.”

On Thursday, when SpaceX announced it was delaying the launch of Starship’s thirteenth test flight by a day, commenters were quick to point out that the update came just minutes after US stock markets closed. (The stock continued sinking the next day, falling more than another 3 percent by press time.)

“Notice they wait until market close now,” one poster quipped.

“Sure,” said another user, “wait till market close to announce…lol…as if we didn’t know what the weather was going to do hrs in advance.”

With that major test now scheduled for Friday evening, it remains to be seen whether a successful test will be enough to win back investors. On the flipside, a high-profile failure now could severely compound the company’s woes, putting SpaceX even further from the $2 trillion valuation Musk has promised. Time will tell.

More on SpaceX: China Is Catching Up With SpaceX Fast, Landing First Reusable Rocket Booster on Offshore Platform

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Another glowing red indicator just lit up on the control panel steering the US economy: short sellers have placed a nearly unprecedented magnitude of bets against the domestic stock market.

A new analysis by the firm S3 Partners has found that short interest in the S&P 500 is now the highest it’s been since the company began compiling that data in 2010, Business Insider reports. In all, S3 found that roughly 3.7 percent of the S&P’s free float — meaning the total market value of shares available to the public for trading — is now tied up in short interest.

That’s a significant number, almost double the short interest in the S&P at the same time last year. For context, BI notes that roughly 3.8 percent of the S&P was hedged against itself right before the 2008 financial crisis, adding to a growing number of data points suggesting the economy is due for a major reckoning.

Stripping it down to plain English, this is a glaring indication that institutional investors are trying to get ahead of the AI financial bubble, which accounts for roughly 60 percent of the index’s growth since April. And the fact that a growing number of investors aren’t just exiting positions, but are actively betting against the US stock market is a massive tell.

For years, a few brave economists and financial analysts have pointed to the fact that the amount of money being spent on AI continues to rise as evidence that the AI bubble is unsustainable.

The thing is, investors are fine with rising costs if there’s enough revenue coming in to justify the spending, which for AI development has already eclipsed $1.6 trillion as of 2026. But whether we’re looking at data centers, digital ad revenue, or the cost of inference, the kind of revenue growth needed simply isn’t there, as the leading tech companies play an increasingly expensive game of kick-the-can-down-the-road.

This is the situation that has investors — and plenty of regular people — nervous about the AI financial bubble. A perfect example can be found in Google’s parent company Alphabet, which reported its first quarter of negative free cash flow this week. The company likewise raised its capital expenditure expectations by a cool $5 to $25 billion, CNBC reported, sending investors running for the hills as the long-promised AI revolution remains a world away.

More on the AI bubble: SoftBank CEO Says You’re Too Stupid to Understand What’s Going on If You Believe the AI Bubble Is Real

The post Investors Laying Groundwork to Profit Massively When Economy Collapses appeared first on Futurism.

While the rest of us were busy rooting against Argentina, suspicious things were afoot on gambling markets related to the World Cup.

The Group of Copenhagen, an international sports integrity body, has flagged seven suspicious bets on platforms including Polymarket, which it says could be related to match manipulation.

The full report hasn’t been released yet. But sources told The Athletic that some of the bets that raised “irregularities” include the nearly $4.8 million placed on Polymarket for Spain not to defeat Cape Verde in their group stage match-up. The game ended in a goalless draw, in one of the first major shocks of the tournament.

Another Polymarket bet that raised suspicion was “Will Folarin Balogun play against Belgium?” which was opened on the same day, July 2, that the US striker received a red card against Bosnia and Herzegovina.

A red card means a player is suspended for at least one game, and the Belgium matchup was the US’s next. In a now-scandalous twist, FIFA’s Disciplinary Committee made the unprecedented move of suspending Balogun’s suspension, allowing him to play the next game. 

This wasn’t announced until July 5 — and it soon came to light that the decision was made after US president Trump personally called FIFA president Gianni Infantino to complain about the red card; later, Trump praised the deferral of Balogun’s ban as a “great decision.”

Heightening the suspicions, sources told The Athletic that the Group of Copenhagen report found no other markets like the one opened for Balogun were opened for any of the other 14 players who were shown a red card during the World Cup.

FIFA’s own Integrity Task Force, however, doesn’t see any signs of nefarious activity. In a report published Tuesday, it concluded there was “no suspicious betting activity or indications of match manipulation in connection with any fixture,” per The Athletic.

The Group of Copenhagen, by contrast, said it’s found seven “yellow notices” in bets related to the World Cup, which it explains are flagged for reasons including “unexplained fluctuations in odds, rumours on social media or source information.” (Yellow notice ranks below orange and red, the highest level of notice.)

Right now, no specific allegations are being made. But the Balogun bet could be seen as a sign of insider trading. The Trump administration has already been hit with several similar scandals related to prediction markets, including a White House teleprompter who’s being investigated for allegedly making over $100,000 by placing bets on Kalshi related to Trump’s speeches.

It’s possible that the Group of Copenhagen is flagging the bets for reasons other than manipulation, according to Christian Kalb, a gambling industry expert who formerly worked with the organization. Instead, it could be because platforms like Polymarket are being used by hedging markets, as what might be the case with the bets placed over the Spain versus Cape Verde match.

“If you are a traditional bookmaker, there will be matches when everyone bets on a very strong favourite to win. So maybe, from a bookmaker’s perspective, there are too many people betting on this outcome,” Kalb told The Athletic. “If they are a small company, this may be a risk: so they could use a prediction market like Polymarket to hedge that risk.”

More on gambling: A New Type of Gambling Scandal Is Sweeping Through Sports

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Shinhan Bank held its Shinhan AX Agent Summit 2026 on July 21 at its headquarters in Seoul, bringing together employees from across the Shinhan Financial Group, domestic and international technology companies, and academic experts to discuss the future of AI in financial services.

The event was designed to objectively assess the bank's current AI agent capabilities, compare them with global technologies and financial industry use cases, and identify future priorities for advancing AI transformation (AX) in banking.

The exhibition was organized into five zones, allowing participants to explore the latest AI technologies from domestic and international companies alongside Shinhan Financial Group's own AI agent developments.

The bank showcased the latest AI agent technologies and deployment cases from global financial institutions, while also exhibiting 18 AI agents developed by Shinhan Bank's AX Innovation Leaders and business units using the bank's proprietary AI platform. An additional three AI agents developed by affiliated companies within the Shinhan Financial Group were also on display.

"Financial AI transformation is not simply about adopting new technologies," a Shinhan Bank official said. "What matters more is objectively evaluating the current state of AI and continuously validating that it can be used safely and effectively in real business operations."

The official added that the bank plans to identify areas for improvement through feedback from external experts and frontline employees while continuing to enhance its financial AI agents.

South Korea's government has launched a project to expand blockchain-based digital payment infrastructure centered on deposit tokens, aiming to reduce payment processing costs for small businesses while accelerating the adoption of digital financial services.

The Korea Internet & Security Agency (KISA) and the Ministry of Science and ICT announced on July 22 that they held a joint launch ceremony at KISA's Seoul headquarters for the Deposit Token-Based Payment Infrastructure Expansion Project, one of this year's selected Blockchain Innovation Leading Projects. The initiative is intended to accelerate the deployment of blockchain-based digital payment infrastructure.

The project is part of the government's demonstration program to identify and promote blockchain-based services with significant economic and social impact, including support for local businesses and the creation of new markets. This year's open competition selected the deposit token payment infrastructure project, which seeks to ease payment fee burdens for small merchants, following evaluation by an external panel of experts. To expand the use of deposit tokens and maximize the project's impact, the government will collaborate with related organizations, including the Ministry of Finance and Economy and the Bank of Korea.

The Korea Financial Telecommunications & Clearings Institute (KFTC) will serve as the lead organization, working with a private-sector consortium comprising nine commercial banks, eight payment service providers and two major merchant partners. KFTC will connect the existing payment infrastructure with the Bank of Korea's Project Hangang platform to enable deposit token payments while overseeing service development and pilot operations. The total project budget is 9.6 billion won.

The project's primary objective is to extend the institutional experience gained through the Bank of Korea's Project Hangang, which demonstrated central bank digital currency (CBDC)-based deposit tokens, into consumer-facing payment services. The government expects the initiative to deliver tangible benefits, including lower payment costs for small businesses. In addition, KFTC plans to work with the Ministry of Finance and Economy to expand the use of deposit tokens into public-sector financial activities, such as government operating expenses.

A key feature of the initiative is that it leverages existing payment infrastructure rather than requiring an entirely new payment network. By integrating with current payment terminals and online payment systems, consumers will be able to make payments using bank-issued deposit tokens through dedicated digital wallet applications. Authorities are also considering the introduction of physical payment cards. Merchants, including small businesses, will be able to accept deposit token payments without replacing their existing payment terminals.

The government expects that establishing a deposit token-based payment and settlement system will improve settlement speed and operational efficiency, enabling lower merchant transaction fees and reducing financial burdens on small business owners.

The Ministry of Finance and Economy also plans to incorporate deposit tokens into a pilot program for government business expenses. Looking ahead, the ministry intends to work with the Ministry of Planning and Budget's fiscal management organizations, including the Korea Public Finance Information Service, to develop a treasury management model linked to the government's dBrain digital fiscal management system for broader public fund administration.

The Ministry of Science and ICT said the project will create practical blockchain applications that the public can directly experience while expanding opportunities for blockchain companies—including small and medium-sized enterprises, startups and information technology firms—to participate in system development, operation and commercialization, thereby strengthening South Korea's blockchain ecosystem. Of the project's 9.6 billion won budget, approximately 3 billion won will be allocated to development, operations and promotional activities involving SMEs, startups and IT companies. Participating commercial banks and other consortium members also plan to undertake related projects worth approximately 4.5 billion won alongside the main initiative.

As shares of Elon Musk’s SpaceX continue to dip, short sellers betting against the company are making an absolute fortune.

As Reuters reported last week, short sellers had already made a whopping $8.7 billion in profit — and that was when the company’s stock was trading around $135. Since then, shares have cratered, dipping all the way down to an all-time low of $118 by Wednesday.

As a result, even more short sellers are throwing themselves at the chance to bet against the company, as CNBC reports. According to estimates from financial software company S3 Partners, around 206 million shares are being shorted, just under a third of all publicly tradable shares. That’s up from around 185 million just last week and only 40 million shares one month ago.

“We continue to see short sellers adding exposure ahead of several key upcoming catalysts, including the company’s first earnings report as a public company and subsequent lock-up expirations,” S3 head of research Matthew Unterman told CNBC.

Musk, who has an extensive track record of raging against Tesla short sellers, is clearly letting the issue get under his skin.

“The survival probability of firms who maintain a significant short position in SpaceX over time is very low,” he tweeted.

The almost-trillionaire also rehashed his belief that “SpaceX will be worth more than Earth if we achieve our goals,” stating without evidence that his extremely far-fetched prediction was “obviously true.”

But before it has any chance to take over the entire world, SpaceX has a lot to prove. The company confirmed this week that it will release its first quarterly earnings report on August 4, a major litmus test of where the company’s headed.

Chances are it won’t be pretty. SpaceX’s market capitalization of over $1.6 trillion — making it one of the most valuable companies in the world — has little to no bearing on its current business fundamentals. The company lost almost $5 billion last year. Musk’s xAI, which was folded into SpaceX earlier this year and renamed to SpaceXAI, similarly lost $6.4 billion.

To regain ground lost ground, Musk will have to convince investors of his lofty and untested goals of sending data centers into space and settling on the Moon with the help of SpaceX’s behemoth Starship spacecraft.

Those claims will be put to the test Thursday, when the company has scheduled another test of the mammoth rocket — and regardless of the outcome, we’re likely to see substantial stock movement in its wake.

More on SpaceX: Short Sellers Are Having a Field Day Betting Against SpaceX as Shares Continue to Slip

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Even as the AI bubble becomes a mainstream talking point on Wall Street, tech companies continue to peddle the fantasy that AI is poised to become an almost magical money-maker. Case in point, OpenAI wants you to believe that by 2030, it’ll be raking in $100 billion a year just from ads alone — even though it’s currently struggling to reach just $1 billion.

That massive gulf was observed in a new analysis from marketing consulting firm Emarketer, first flagged by AdWeek, which found OpenAI is on pace to undershoot its own five-year ad revenue projections by a whopping 90 percent. In fact, Emarketer’s take is even more devastating than that: it estimates the entire addressable market for chatbot advertising — the maximum amount of money up for grabs overall — at $5.4 billion.

That figure isn’t just bad news for OpenAI, but for every giant tech company, all of which are jockeying for a piece of the AI ad pie. In 2026, Emarketer projects that the combination of OpenAI, Microsoft, Google, and Amazon will bring in under $1 billion in ad revenue. For context, OpenAI had projected that its AI ad revenue alone would hit $2.5 billion by the end of this year.

It all adds up to a difficult question for investors. If the top AI companies — which have burned over $1.6 trillion building AI so far — can’t even hit OpenAI’s meager projection for 2026, what hope do they have of hitting their projections four years from now?

To hit that number, AdWeek observes, OpenAI needs three miracles to happen all at once. First, advertisers have to abandon decades worth of infrastructure built around search engines and social media and put all their advertising budgets into chatbots. Once that happens, OpenAI has to out-muscle previous ad-sales giants like Google and Meta, while the entire AI-ad market balloons from just a six-figure stream in 2026 to a raging, 12-figure river by 2030.

Basically, OpenAI will have to make a lot of history to justify these numbers. And whether it can do so is no small matter: according to OpenAI’s own forecasts, advertising is supposed to make up 36 percent of the company’s total revenue by 2030. If the AI lab can’t make the math work, the company’s five-year financial story falls apart, and with it, a major bullet point justifying one of the largest financial bubbles the world has ever seen.

More on OpenAI: Lawsuit Alleges That ChatGPT Encouraged Suicide of Woman Who Walked Into Traffic

The post OpenAI Appears to Be Missing Its Sales Goals by a Vast Margin appeared first on Futurism.

For years, AI companies have been selling investors on the idea that scaling up operations is the key to success — the bigger the AI model, the more powerful it becomes.

But in practice, that premise is leading to enormous business problems. As The Atlantic points out, LLMs are suffering from severely diminishing returns: the cost of inference, or the act of using a trained AI model to process new data, is rising exponentially, making the tech far less lucrative than it was even half a year ago.

Put simply, it’s effectively the opposite of what investors would conventionally want to see, as The Atlantic argues, which would be a continuous drop in cost per user instead of the reverse.

That’s bad news for an industry pouring billions of dollars into the construction of enormous data centers across the country, despite having no clear path to profitability in the foreseeable future. While it’s impossible to predict when exactly fears of an AI bubble will hit a breaking point, analysts warn it’s a matter of when, not if. The consequences could be disastrous if the industry were to collapse in on itself, bringing down entire economies — which have vastly over-indexed on AI tech — with it.

Nonetheless, AI companies are steadfast in their belief that chatbots, like OpenAI’s ChatGPT and Anthropic’s Claude, are the future. They’ve become practically inescapable in our day-to-day lives, from integrations in operating systems to replacing humans on customer service calls — despite a major public backlash that represents another headwind for the industry.

Meeting AI’s rapidly growing demands will also require revolutionary leaps in hardware tech that are becoming increasingly harder to come by, with experts warning of the imminent end of Moore’s Law, the decades-old truism that more transistors steadily improved computing power.

In short, as behemoth AI models are quickly becoming unaffordable to those who’ve grown to rely on them, they’re also becoming far less efficient — a concerning trajectory that could nudge the entire economy closer to the brink.

For a while now, Yann LeCun, one of the so-called godfathers of AI, has been warning that LLMs are a “dead end” and won’t bring us to the much-touted point where AI intelligence matches or exceeds that of human intelligence.

But whether tech leaders who are already deeply invested in scaling up the current crop of AI models will heed those warnings feels increasingly unlikely.

More on AI: AI Bubble Fears Are Starting to Spill Over

The post There’s a Gigantic Problem at the Heart of the AI Industry That Could Cause the Whole Thing to Collapse appeared first on Futurism.