Skeptics Question Whether SpaceX Is Worth $1.77 Trillion

Elon Musk’s rocket company is spending big and losing money. That has raised questions about whether it can justify its valuation for its blockbuster initial public offering.SpaceX has set an initial public offering price of $135 a share, which would value it at $1.77 trillion. Some investors are sk

R Ryan Mac and Mike Isaac

Absent From the SpaceX and OpenAI I.P.O.s? Chinese Investors.

SpaceX will not raise money from investors in China and Hong Kong. Others firms, like OpenAI, may follow suit.A Starship test flight at the SpaceX’s Starbase in Texas last month. Investors in China are expected to be excluded from the SpaceX initial public offering.

A Alexandra Stevenson, Maureen Farrell and Lauren Hirsch

The World Cup Is Officially Underway

Also, Trump picks a new intelligence chief. Here’s the latest at the end of Thursday.Julián Quiñones of Mexico scores the first goal of the World Cup.

M Matthew Cullen

Trump Picks Jay Clayton for Director of National Intelligence After Backlash Over Bill Pulte

The president said he would nominate Jay Clayton, the U.S. attorney in Manhattan and the former chairman of the Securities and Exchange Commission, for the permanent role.President Trump’s pick to be the director of national intelligence, Jay Clayton, took over as the U.S. attorney for Manhattan in

J Julian E. Barnes, Jonah E. Bromwich, Devlin Barrett and Benjamin Weiser

What to Know About Jay Clayton, Trump’s Pick for Intelligence Director

Mr. Clayton, the U.S. attorney in Manhattan and a former chairman of the Securities and Exchange Commission, has been overseeing an office known for prominent cases.Jay Clayton, then serving as the U.S. attorney, at Gracie Mansion in New York last March. President Trump said he plans to choose him a

B Benjamin Weiser

Kennedy Center Appeals Order to Remove Trump’s Name

One day before a deadline to take the president’s name off its facade, the arts institution appealed a federal judge’s ruling that also temporarily blocked it from closing.Judge Christopher R. Cooper ruled that only Congress had the power to alter the name of the John F. Kennedy Center for the Perfo

J Julia Jacobs

Justice Dept. Pushes Limits of Its Power Over State Elections

The department once tried to stay out of state elections, urging caution. It is now pressing forward with claims of fraud as President Trump revives his unfounded assertions that elections cannot be trusted.Voters casting their ballots in California’s primary races in Los Angeles last week.

D Devlin Barrett

After Senate Loss, Cornyn Predicts ‘Miserable’ Final Two Years for Trump

In his first extensive interview since his defeat by a Trump-backed challenger, the Texas Republican said the Senate was in for a “bumpy ride” as he and others flex new political freedom.“There’s never going to be good enough for him, other than 100 percent, you know, slavish adherence to whatever h

C Carl Hulse

Conor McGregor’s Comeback: A Tale of Banned Drugs and a Famous Doctor

McGregor, the Ultimate Fighting Championship’s main attraction, had the support of the prominent sports physician Neal ElAttrache when he decided to use performance-enhancing drugs.Conor McGregor preparing to fight Dustin Poirier in Las Vegas in 2021. McGregor suffered a badly broken leg during the

M Michael S. Schmidt

Major League Baseball Will Question the Dodgers’s Doctor About Banned Drugs

The inquiry comes after a report that Dr. Neal ElAttrache, the physician for the team, supported the U.F.C. star Conor McGregor in using performance-enhancing drugs while recovering from an injury.Dr. Neal ElAttrache with Shohei Ohtani of the Los Angeles Dodgers during a game in Tokyo in 2025.

M Michael S. Schmidt

The Researcher Who Didn’t Want to Know

Her decades of work on Huntington’s disease helped lead to the creation of a genetic test for the devastating condition. Why didn’t she take it herself?Nancy Wexler a lifelong researcher of Huntington’s disease, who has the condition herself, in her Manhattan apartment.

G Gina Kolata

Mamdani Finds a Foil Familiar to New Yorkers: James Dolan

Mr. Dolan, the owner of the New York Knicks, began a public feud with Mayor Zohran Mamdani with his team on the verge of an N.B.A. title.James Dolan suggested that the incompetence of Mayor Zohran Mamdani and the police commissioner, Jessica Tisch, left them incapable of handling “anything like this

D Dana Rubinstein

This Is What Joy Looks Like for Knicks Fans

A thrilling, historic comeback victory in Game 4 of the N.BA. finals sent Madison Square Garden, and the rest of New York City, into a lasting frenzy.A celebration at Wayne and Sons in Brooklyn as the Knicks roared back from a 29-point deficit to win Game 4 of the N.B.A. finals at Madison Square Gar

S Santul Nerkar

NOAA Issues El Nino Advisory

The global weather pattern threatens to worsen floods and heat waves already intensifying due to climate change. But it may also mean fewer hurricanes.Drought-stressed wheat in a field in Kansas last month.

C Chico Harlan