Three stories that explain where the money is going

SpaceX is borrowing $40 billion to buy NVIDIA chips. That one transaction—bigger than the entire NBA's combined valuation—is actually a hundred transactions rolled into one, and it explains the stock market, the trade deficit, and why your mortgage just hit 7.3 percent. Meanwhile, Crocs stock is up 36 percent this year on the back of $995 bedazzled shoe charms, and a second Facebook movie premieres tonight that revisits the 2021 whistleblower scandal. Here is what happened and why it matters.

SpaceX's $40 billion chip splurge

SpaceX has already raised an eye-popping $211 billion in total fundraising over the past four months, including a record IPO in June and billions more in bond sales. But the latest move, reported by the Financial Times, is a $40 billion debt raise for a single purpose: buying NVIDIA's chips. These GPUs will go into SpaceX's data centers—some terrestrial, some orbital—and the company plans to rent out its computing capacity to AI rivals like Anthropic and Google for roughly $1 billion a month. As the hosts put it, "Elon's now a landlord. SpaceX collects rent from its AI rivals and then uses that money to pay interest on all of these loans."