Alternative Investing Report - June 30, 2025

*as of 6/29; Sources: S&P, BTC, FTSE, DJRE, GOLD

Of the 100 AI startups on CB Insights’ list of the top emerging AI startups, the most well-funded are Physical AI companies, led by the self-driving startup Wayve and the humanoid startup Figure AI. The sectors that have the most growth potential overall are in robotics, aerospace & defense, and auto & mobility. Physics X, a manufacturing company, clocks in as the most likely acquisition target.

➨ TAKEAWAY: Because of the runaway success of generative AI companies like OpenAI and Anthropic, other sectors can get overlooked. AI is making its way into all types of businesses, and investors should consider looking past the big names and towards what could be the next big industries.

In this episode of Smart Humans, Slava Rubin talks with Unlimited Funds' CEO and founder Bob Elliott about gold, the current economic landscape, and making hedge fund strategies accessible to everyone.

🏀 Michael Jordan card: In the first ever sale of a sports card by Joopiter Auctions, an autographed 1986 Fleer Michael Jordan rookie card sold for $2.5 million, shattering the all-time record for any Jordan rookie.

🏢 Senior housing in demand: Cap rates for senior housing properties declined and are poised to compress even further, raising property values, as demand is far outpacing supply.

📊 PCE index rises: The Fed’s preferred measure of inflation was up 0.1% in May and 2.3% on the year, with the core PCE index up by 0.2% in May and 2.7% on the year, slightly exceeding expectations.

🏡 Luxury sales down: Luxury home sales are down 4.7% year-over-year, as economic uncertainty has made many potential buyers hesitant to move forward, though ultra-rich buyers haven’t slowed down at all.

🎾 Alcaraz record sale: A 1 of 1 Carlos Alcaraz racket knob card sold for $222,000, the highest ever sale for a male tennis player’s card.

🚀 Space tech funding: This year could see a new record for space tech startup funding, but deal count is actually declining as VCs are making fewer, bigger bets into more established companies.

💵 Carlyle’s new retail fund: The private equity firm is launching new funds for individual investors to transact in secondary private equity stakes, and evaluating a U.S. fund open to any accredited investor.

🎨 Napoleon auction: A collection of Napoleonic memorabilia sold for a total of $9.6 million at Sotheby’s, above the $6.9 million estimate, despite a disappointing result for one of Napoleon’s iconic bicorne hats, which ran into provenance issues.

Today: The Wimbledon Tennis Championships begin in London.

Tuesday: Christie’s Old Masters evening sale in London, led by a Titian portrait expected to fetch more than $5 million.

Wednesday: Sotheby’s Old Master and 19th Century Paintings evening auction in London, featuring a number of potential seven-figure artworks.

Thursday: U.S. jobs report for June released; markets close at 1 PM ET.

Friday: July 4th holiday, markets closed.