Evening Scan

SpaceX shares are trading near their IPO price while TSMC committed $100 million to U.S. manufacturing — opposite signals on semiconductor and rocket optimism. Several other moves happened in parallel.

$265B — TSMC's total U.S. spending commitment after today's announcement, up from $165B. At that scale, the Arizona campus functions as national infrastructure, not just a fab. (NYT)

TSMC Adds $100 Billion to Its U.S. Spending Plan (paywall)

Arizona's total TSMC commitment is now $265 billion, positioning the state either as the decade's biggest industrial policy win or the most expensive tariff hedge. (NYT)

SpaceX Shares Briefly Dipped Below Their $135 IPO Price

Four straight sessions of losses and a test of the floor. Post-IPO gravity applies to SpaceX, and this moment signals exactly that. (CNBC)

Hyundai to Make Boston Dynamics a Wholly Owned Subsidiary

Hyundai bought out SoftBank's remaining ~10% stake in Boston Dynamics, closing the loop on its 2021 acquisition and signaling the robotics unit is no longer a portfolio asset. (Reuters)

Diesel Prices Hit $5 a Gallon Again, Up 33% Since Start of Iran War (paywall)

Renewed Persian Gulf fighting and reduced refinery capacity are repricing every supply chain that moves goods by truck. Most do. (NYT)