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Twitter is undergoing a major rebrand after owner Elon Musk announced the platform would officially become “X” over the weekend, and CEO Linda Yaccarino addressed the change in a memo Monday that applauded employees for their hard work.

The transition from Twitter to X reflects a step toward Musk’s goal to turn the platform into what he has called an “everything app.” In the email to employees obtained by CNBC’s Sara Eisen, Yaccarino wrote that the company has “an inventor mindset” and enjoys “moving at the speed of light.”

Going forward, she wrote, X will continue to develop experiences in video, audio, messaging, banking and payments that will “delight” users. Yaccarino added that she and Musk plan to work across every team to keep the “entire community up to date.”

“Please don’t take this moment for granted,” Yaccarino wrote. “You’re writing history, and there’s no limit to our transformation. And everyone, is invited to build X with us.”

Read the full memo below.

Hi team,

What a momentous weekend. As I said yesterday, it’s extremely rare, whether it’s in life or in business, that you have the opportunity to make another big impression. That’s what we’re experiencing together, in real time. Take a moment to put it all into perspective.

17 years ago, Twitter made a lasting imprint on the world. The platform changed the speed at which people accessed information. It created a new dynamic for how people communicated, debated, and responded to things happening in the world. Twitter introduced a new way for people, public figures, and brands to build long lasting relationships. In one way or another, everyone here is a driving force in that change. But equally all our users and partners constantly challenged us to dream bigger, to innovate faster, and to fulfill our great potential.

With X we will go even further to transform the global town square — and impress the world all over again.

Our company uniquely has the drive to make this possible. Many companies say they want to move fast — but we enjoy moving at the speed of light, and when we do, that’s X. At our core, we have an inventor mindset — constantly learning, testing out new approaches, changing to get it right and ultimately succeeding.

With X, we serve our entire community of users and customers by working tirelessly to preserve free expression and choice, create limitless interactivity, and create a marketplace that enables the economic success of all its participants.

The best news is we’re well underway. Everyone should be proud of the pace of innovation over the last nine months — from long form content, to creator monetization, and tremendous advancements in brand safety protections. Our usage is at an all time high and we’ll continue to delight our entire community with new experiences in audio, video, messaging, payments, banking — creating a global marketplace for ideas, goods, services, and opportunities.

Please don’t take this moment for granted. You’re writing history, and there’s no limit to our transformation. And everyone, is invited to build X with us.

Elon and I will be working across every team and partner to bring X to the world. That includes keeping our entire community up to date, ensuring that we all have the information we need to move forward.

Now, let’s go make that next big impression on the world, together.

Linda

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StubHub IPO is back on for September after ticketing company delayed plans on tariff concerns

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StubHub IPO is back on for September after ticketing company delayed plans on tariff concerns

StubHub updates S-1 filing effectively restarting IPO process

StubHub, the ticketing marketplace that spun out of eBay in 2020, has resumed its plans to go public and is now aiming to hold its IPO next month, CNBC has learned.

The company originally paused its IPO plans in April as the stock market was reeling from President Donald Trump’s “liberation day” tariffs. The decision came after StubHub submitted its prospectus in March indicating it would list on the New York Stock Exchange under the ticker “STUB.”

StubHub now expects to kick off its IPO roadshow after Labor Day, Sept. 1, and make its debut later in the month, according to a source familiar with the matter who asked not to be named because the discussions are confidential.

The company didn’t immediately respond to a request for comment.

StubHub also filed an updated IPO prospectus on Monday. It reported revenue growth in the first quarter of 10% from a year earlier to $397.6 million. Operating income came in at $26.8 million for the period, after the company lost $883,000 in the year-ago period, but its net loss widened to $35.9 million from $29.7 million a year ago.

The IPO market has come to life in recent months after an extended dry spell due to high inflation and rising interest rates. A flurry of startups have made their public debuts, including rocket maker Firefly Aerospace, design software company Figma, crypto firm Circle and AI infrastructure provider CoreWeave. Bullish, the cryptocurrency exchange that counts Peter Thiel as an investor, also filed its IPO prospectus last month.

StubHub has been a longtime player in the ticketing industry since its launch in 2000. It was purchased by eBay for $310 million in 2007, but was reacquired by its co-founder Eric Baker in 2020 for $4 billion through his new company Viagogo.

The company had sought a $16.5 billion valuation before it began the IPO process, CNBC previously reported. StubHub didn’t provide an expected pricing range for its shares in the filing.

As it prepares to go public, StubHub is contending with hefty competition in the online ticketing market. In addition to Ticketmaster, which is owned by Live Nation, StubHub is up against secondary market companies, including Vivid Seats, SeatGeek and TicketNetwork

For the first quarter, StubHub reported gross merchandise sales of $2.08 billion, up 15% from a year prior. That was a slowdown from 47% expansion the previous quarter. StubHub said GMS, or the total value paid by buyers for tickets and fulfillment, builds in each quarter and that initial sales for major concert tours typically occur near the end of the year.

WATCH: Recent first-day pops are for pre-AI companies

I would love to see Canva go public, says Bullpen Capital’s Duncan Davidson

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Trump says he asked for 20% cut from Nvidia, calls H20 an ‘obsolete’ chip

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Trump says he asked for 20% cut from Nvidia, calls H20 an 'obsolete' chip

U.S. President Donald Trump (L) listens as Nvidia CEO Jensen Huang speaks in the Cross Hall of the White House during an event on “Investing in America” on April 30, 2025 in Washington, DC.

Andrew Harnik | Getty Images

President Donald Trump on Monday said that he initially asked Nvidia for a 20% cut of the chipmaker’s sales to China, but the number came down to 15% after CEO Jensen Huang negotiated with him.

The comments came after news broke over the weekend that Nvidia agreed to pay the federal government a 15% cut in return for receiving export control licenses that will allow it to once again sell the H20 chip to China and Chinese companies. Nvidia’s Huang visited Trump in the White House on Friday.

“I said, ‘listen, I want 20% if I’m going to approve this for you, for the country,'” Trump said in a press conference in Washington.

Trump said that Nvidia’s H20 is an “old chip that China already has” and is “obsolete.” He compared the H20 chip to Nvidia’s current fastest artificial intelligence chip, which is called Blackwell, and said that he wouldn’t allow those to be sold to China without significant downgrades, such as a 30% to 50% reduction in performance.

“The Blackwell is super-duper advanced. I wouldn’t make a deal with that,” Trump said, adding that it was possible to make a deal for a “somewhat enhanced in a negative way” version of Blackwell.

“That’s the latest and the greatest in the world. Nobody has it. They won’t have it for five years,” Trump said.

One reason for the U.S. export controls is fear that providing advanced chips to China could allow the foreign power to leapfrog the U.S. in AI capabilities. Many have said that could pose a threat to the national security of the U.S.

Trump said that China already has chips with some similar capabilities to the H20.

Huang has said that it is better for U.S. national security if Chinese AI developers use U.S. technology, and that denying them access to Nvidia chips would actually encourage the Chinese chip industry to develop and catch up.

“He’s selling a essentially old chip,” Trump said. “Huawei has a similar chip.”

The H20 is a Chinese-specific chip that has had its performance slowed down. It is related to Nvidia’s H100 and H200 chips that are used in the U.S. The H20 was introduced after the Biden administration implemented export controls on AI chips in 2023.

In April, the Trump administration said it would require a license to export the H20 chip, and in May, Huang said that “effectively closed” the market off to Nvidia. Huang said that Nvidia was expecting to sell about $8 billion in H20 chips in the July quarter before sales were stopped.

“While we haven’t shipped H20 to China for months, we hope export control rules will let America compete in China and worldwide,” an Nvidia spokesperson told CNBC on Monday.

Trump on Monday also said that Huang plans to visit him again to negotiate export licenses for the Blackwell chips.

“I think he’s coming to see me again about that,” Trump said.

A White House official confirmed to CNBC that AMD, the second-place AI chip maker, will also pay 15% to receive an export license for its China-focused AI chip, the Instinct MI308.

WATCH: Nvidia, AMD to pay U.S. 15% of AI chip sales in China to secure export licenses

Nvidia, AMD to pay U.S. 15% of AI chip sales in China to secure export licenses

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Crypto exchange Bullish raises IPO size, seeks nearly $5 billion valuation

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Crypto exchange Bullish raises IPO size, seeks nearly  billion valuation

Pavlo Gonchar | SOPA Images | AP

Peter Thiel-backed cryptocurrency exchange Bullish raised the size of its initial public offering.

Bullish is aiming to raise $990 million, offering 30 million shares priced between $32 and $33 apiece, and targeting a valuation of $4.8 billion, according to a Monday filing with the Securities and Exchange Commission.

The company, led by former New York Stock Exchange president Tom Farley, had previously marketed 20.3 million shares at a proposed range between $28 and $31 a share and sought a $4.2 billion valuation, per a filing last week.

Bullish granted its underwriters, led by JPMorgan, Jefferies and Citigroup, a 30-day option to sell an additional 4.5 million shares. Bullish stock will trade on the New York Stock Exchange under ticker symbol “BLSH.”

BlackRock and Cathie Wood’s ARK Investment Management have indicated interest in purchasing up to $200 million of the shares, according to the updated filing.

Bullish, which also owns the crypto media site CoinDesk, is the latest crypto firm to join the public market, reflecting reinvigorated capital markets driven by investor confidence and increasing regulatory support and clarity from Washington. The stablecoin issuer Circle made its highly successful debut in June. In May, Mike Novogratz’s Galaxy Digital uplisted to the Nasdaq and stock and crypto trading app eToro opened trading to the public.

Crypto custody startup BitGo has confidentially filed for a U.S. listing as has Gemini, the crypto exchange run by Tyler and Cameron Winklevoss.

Don’t miss these cryptocurrency insights from CNBC Pro:

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