Coatue Founder Philippe Laffont 6/23/26

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**Katie Kramer** (0:59)
Hi, I'm CNBC producer Katie Kramer, today on Squawk Pod. A market sell-off tech stocks routed across the globe, we have a special interview with noted investor Philippe Laffont of Coatue. With $90 billion under management, his bets are worth paying attention to, like a stake in SpaceX.

**Philippe Laffont** (1:18)
Mining is going to move to space. Tourism is going to move to space. Telecom is going to move to space.
Data centers in real estate are going to move to space. So it feels like just a really big idea.

**Katie Kramer** (1:30)
And big bets on AI.

**Philippe Laffont** (1:32)
All the stuff around agents and the ability to have thousands of people working for you, that sounds like one of the bigger idea, at least in my investment career.

**Katie Kramer** (1:43)
What Laffont is betting on next?

**Philippe Laffont** (1:46)
Are we going to work with Chinese AI companies? Most likely not. I think you'll have the Western AI on one side, you'll have the Chinese AI on the other, and only countries like maybe Brazil, India and Indonesia will sort of do a bit of both.

**Katie Kramer** (2:03)
Plus, all the rest of today's news that got us squawking from Wall Street to Washington, to the social media back and forth between Elon Musk and Congressman Ro Khanna, who had big accusations for the world's richest man.

**Becky Quick** (2:15)
Musk immediately took issue with that and all weekend on X. There was a… We called him Bro the Robber.

**Katie Kramer** (2:22)
It is Tuesday, June 23rd. Squawk Pod begins right now.

**Becky Quick** (2:27)
Stand Becky by in 3, 2, 1 Cue, please.
Good morning, everybody. Welcome to Squawk Box right here on CNBC. We are live from the NASDAQ market site in Times Square. I'm Becky Quick along with Joe Kernen. Andrew is out today.

**Joe Kernen** (2:43)
Asian markets giving up early gains today, ending deep in the red. South Korea's KOSPI led the decline, falling 10% in a session that included a 20-minute trading halt. The KOSPI, though, has shot up this year, nearly doubling since January 1st. So keep that in mind.

**Becky Quick** (2:59)
Still at 94% year-to-date.

**Joe Kernen** (3:01)
Yeah.
Key AI names, SK Hynix, Samsung, both fell more than 12%. Shares of those companies have also multiplied this year. The Nikkei in Japan fell 3.5% following eight straight sessions of gains. So then deck out the charts and then put that today's sell-off in perspective.

**Becky Quick** (3:23)
We are also watching shares of SpaceX. That stock coming off a 16% drop yesterday following declines of about 5% and 4% respectively last Wednesday and Thursday. This morning the stock is trading at about $149. That is just below the opening price of the IPO of $150.
Shares began those trading at the beginning, what was it now? Seven sessions ago maybe? Started on Friday? No, not even. It's been about six sessions since this happened. SpaceX stock jumped in its first few days with the company's market value surpassing Amazon's and briefly Microsoft's. This pullback that we've seen over the last few sessions is a decline of about $600 billion in market cap. SpaceX also turning to the bond market for the first time as it looks to raise more money post IPO.
Reports say that the company will probably issue more than $20 billion in bonds with maturities of somewhere between five and 30 years. The company says that it will use proceeds from the debt sale in part to pay back a bridge loan before this IPO that we saw in all of these things. You know, it's interesting about this. There had been so much concern about what was going to happen, when this stock was going to go into the NASDAQ index. It was 15 days. So all of this activity has happened before it's gone into the NASDAQ. I think there was another index somewhere along the line that put it in earlier. But all of this movement that we've seen to the upside and then the downside was before it got put into the NASDAQ index.