When SpaceX makes its debut on the U.S. stock market, it wants smaller-pocketed, mom-and-pop investors to play a big role in what may be the biggest IPO ever. Elon Musk’s rocket company, formally known as Space Exploration Technologies Corp., is steering some of its initial public offering of stock directly to what are called retail investors.

These are people who buy stocks in a brokerage account on their phone, not big pension funds or other big institutional investors that send orders to their professional trading desks. Before they click ‘buy,’ they need to be aware of the risks.

Visa plugs its payment network into ChatGPT

Visa is embedding its payment network into ChatGPT, allowing the chatbot to shop and complete transactions for users. This collaboration enables ChatGPT to make purchases at any merchant accepting Visa, unlike previous attempts limited to specific retailers. OpenAI will provide the technology for decision-making and purchasing, while Visa ensures secure transactions.

The companies haven’t disclosed financial terms or fees. Concerns include potential overspending and unauthorized purchases, but Visa plans to implement safeguards like spending limits. This move could impact businesses, with AI agents authorized to procure items and handle invoicing. Mastercard is also developing AI-shopping features.

Directors, studios, streamers reach deal

Hollywood directors have reached a four-year tentative contract agreement with studios and streaming services. The Directors Guild of America and the Alliance of Motion Picture and Television Producers struck the deal Tuesday after four weeks of talks. This is the first negotiation under new DGA President Christopher Nolan.

Similar four-year deals have been ratified recently by unions representing writers and actors. This agreement adds to the likelihood of long-term labor peace in Hollywood despite industry upheavals. The collective bargaining agreement must still be approved by the guild’s national board and ratified by the guild membership.

Another sell-off for AI drags Street down

Another sell-off for artificial-intelligence stocks dragged the U.S. market sharply lower. The S&P 500 dropped 1.6% Wednesday after giving up a brief modest gain in the morning. The index had its first back-to-back drop in three weeks. The Dow Jones Industrial Average sank 1.9%, and the Nasdaq composite lost 2%.

Wall Street has been shaky since last week, when AI stocks went from roaring to records to suddenly turning lower. Among the worries is that their prices have simply shot too high, too fast. Oil prices rose after President Donald Trump threatened more strikes on Iran.