Alternative Investing Report - June 10, 2026

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*as of 6/9; Sources: S&P, BTC, FTSE, DJRE, GOLD

The third of three highly anticipated major upcoming IPOs is now coming closer, as OpenAI filed for its public offering, following SpaceX and Anthropic. The company made it clear in an official announcement that the timing of the IPO remains undecided, but the filing is a significant step forward.

➨ TAKEAWAY: Public markets are about to experience what are likely to be the three biggest IPOs of all time, beginning this Friday with SpaceX. While it has long been unclear whether Sam Altman intended to ever take OpenAI public, it seems that rival Anthropic’s upcoming IPO has spurred the ChatGPT maker into action. It remains to be seen whether the market can produce enough demand to fill out all three mega-IPOs, let alone sustain their prices after they debut. SpaceX will be the first big test and could offer investors some clues about how the other two will perform when they go public.

SpaceX is going public this week, so take a watch of Slava Rubin and Jan-Erik Asplund’s in-depth analysis of the upcoming IPO. They look into SpaceX's business segments, valuation, market potential, and everything else investors need to know before making an investment decision.

🏡 Existing home sales rise: Existing home sales grew 3.2% in May, well above expectations, and were also up 3.2% year-over-year. The jump was likely due to mortgage rates falling in April, but given that they have spiked since then, expect next month’s sales report to show a decline. The median sales price hit a record high of $429,300, a gain of 1.3% year-over-year.

📉 Small business optimism dips: The NFIB Small Business Optimism Index fell by 0.6 points to 95.3 in May, the lowest level since October 2024 and well below historical averages. Owners cited rising inflation and fuel costs as their major concerns, with the NFIB uncertainty index hitting 91, well above the historical average of 68.

🏢 Apartment market rebound: For the fifth straight month, apartment occupancy and asking rents have increased, nearly making up all the gains in both categories since a slow decline began a year ago. Average rents were up 0.6% in May, but were still down 0.2% year-over-year, while occupancy rates are up 90 basis points so far in 2026 but remain down 20 basis points from this time last year.

🚀 New unicorns: There were 29 startups that reached a billion-dollar valuation in May, led by a pair of spinoff companies from OpenAI and Anthropic. While AI still remained dominant, sectors like robotics, quantum computing, alternative energy, and aerospace each minted multiple new unicorns.

🎨 Tiffany window auction: A 19th century Tiffany stained glass window is being auctioned at Christie’s today, and is expected to fetch between $1.5 million - $2 million. The “Boyd Family Memorial Window” comes from a church in Connecticut and was restored in the 1990s.

💵 Private credit woes: New loans from private credit lenders fell sharply last quarter, dropping 40% from Q1 to the lowest quarterly level since 2023. This is the latest sign that the once-hot asset class is facing strong headwinds.

It’s been a rough week for crypto overall, but one of the biggest price declines belongs to Cardano, capping off a month where the crypto token lost more than 40% of its value. The project was originally founded by Charles Hoskinson, a co-founder of Ethereum, and once had a market cap of more than $90 billion. It now sits at under $6 billion, still remaining in the top-15 overall. The fundamentals suggest the price has further to fall, as Cardano is now seen as a “ghost chain” by many, meaning a blockchain with little activity and little utility. The total value in Cardano’s DeFi ecosystem has dropped by 85% and the project has made only $355,000 in fees this year. Unless Hoskinson has something up his sleeve to generate investor interest, the downward trend Cardano finds itself on is unlikely to be reversed.