{"id":63552,"date":"2026-06-22T11:38:14","date_gmt":"2026-06-22T15:38:14","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/meta-appoints-kunal-shah-as-whatsapp-ceo-spacex-inks-6-3b-ai-deal\/63552\/"},"modified":"2026-06-22T11:38:14","modified_gmt":"2026-06-22T15:38:14","slug":"meta-appoints-kunal-shah-as-whatsapp-ceo-spacex-inks-6-3b-ai-deal","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/meta-appoints-kunal-shah-as-whatsapp-ceo-spacex-inks-6-3b-ai-deal\/63552\/","title":{"rendered":"Meta Appoints Kunal Shah as WhatsApp CEO; SpaceX Inks $6.3B AI Deal"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/meta-appoints-kunal-shah-as-whatsapp-ceo-spacex-inks-6-3b-ai-deal\/63552\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/meta-appoints-kunal-shah-as-whatsapp-ceo-spacex-inks-6-3b-ai-deal\/63552\/#Meta_Leadership_Shake-up_and_Strategic_Investment\" >Meta Leadership Shake-up and Strategic Investment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/meta-appoints-kunal-shah-as-whatsapp-ceo-spacex-inks-6-3b-ai-deal\/63552\/#SpaceX_Enters_63_Billion_AI_Infrastructure_Deal\" >SpaceX Enters $6.3 Billion AI Infrastructure Deal<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/meta-appoints-kunal-shah-as-whatsapp-ceo-spacex-inks-6-3b-ai-deal\/63552\/#Currency_Volatility_Sparks_Japan-US_Emergency_Meeting\" >Currency Volatility Sparks Japan-U.S. Emergency Meeting<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/meta-appoints-kunal-shah-as-whatsapp-ceo-spacex-inks-6-3b-ai-deal\/63552\/#Diplomatic_Maneuvers_Iran_and_the_White_House\" >Diplomatic Maneuvers: Iran and the White House<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/meta-appoints-kunal-shah-as-whatsapp-ceo-spacex-inks-6-3b-ai-deal\/63552\/#Market_Performance_Summary\" >Market Performance Summary<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Meta (<a href=\"\/stock\/META\">META<\/a>) names CRED founder Kunal Shah as Global CEO of WhatsApp<\/strong> following a <strong>$900 million investment<\/strong> in the Indian fintech firm.<\/li>\n<li><strong>SpaceX signs a massive $6.3 billion compute deal with open-source AI startup Reflection<\/strong> to provide access to <strong>Nvidia (<a href=\"\/stock\/NVDA\">NVDA<\/a>) GB300 chips<\/strong>.<\/li>\n<li><strong>Japan and the U.S. hold emergency talks<\/strong> as the Yen depreciates to a two-year low, with Finance Minister Satsuki Katayama warning of &quot;appropriate measures.&quot;<\/li>\n<li><strong>Iran denies accepting new nuclear commitments<\/strong> following high-level Sunday talks in Switzerland, though mediators report &quot;constructive progress.&quot;<\/li>\n<li><strong>European equity markets trade mixed<\/strong> as investors weigh Middle East diplomacy against political uncertainty in the United Kingdom.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Meta_Leadership_Shake-up_and_Strategic_Investment\"><\/span>Meta Leadership Shake-up and Strategic Investment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a landmark move for the social media giant, Meta (<a href=\"\/stock\/META\">META<\/a>) has appointed <strong>Kunal Shah<\/strong>, the founder of Indian fintech unicorn <strong>CRED<\/strong>, as the new <strong>Global CEO of WhatsApp<\/strong>. The appointment follows a <strong>$900 million investment<\/strong> by Meta into CRED, valuing the Bengaluru-based company at approximately <strong>$4.5 billion<\/strong>. Shah succeeds <strong>Will Cathcart<\/strong>, who will transition to a new role within Meta focused on next-generation product development after seven years at the helm of the messaging platform.<\/p>\n<p>The deal highlights Meta&#39;s aggressive push into the Indian market, where WhatsApp serves over <strong>500 million users<\/strong>. While Shah will step away from daily operations at CRED, he remains a significant shareholder. <strong>Miten Sampat<\/strong>, CRED&#39;s head of strategy and finance, has been named interim CEO of the fintech firm effective immediately.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"SpaceX_Enters_63_Billion_AI_Infrastructure_Deal\"><\/span>SpaceX Enters $6.3 Billion AI Infrastructure Deal<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Elon Musk&#39;s <strong>SpaceX<\/strong> has reportedly secured a major computing contract with <strong>Reflection AI<\/strong>, an open-source artificial intelligence startup. The deal, valued at up to <strong>$6.3 billion<\/strong>, involves SpaceX providing high-performance compute resources, specifically leveraging <strong>Nvidia (<a href=\"\/stock\/NVDA\">NVDA<\/a>) GB300 &quot;Blackwell&quot; chips<\/strong> housed at the Colossus 2 data center.<\/p>\n<p>Under the terms of the agreement, Reflection AI will pay approximately <strong>$150 million per month<\/strong> for access to the infrastructure. Notably, the contract includes a &quot;reflection&quot; clause allowing SpaceX to terminate the deal after the first three months if performance benchmarks are not met, reflecting the volatile and high-stakes nature of the current AI infrastructure buildout.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Currency_Volatility_Sparks_Japan-US_Emergency_Meeting\"><\/span>Currency Volatility Sparks Japan-U.S. Emergency Meeting<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Japanese Yen&#39;s continued slide has triggered an emergency online meeting between <strong>Japanese Finance Minister Satsuki Katayama<\/strong> and <strong>U.S. Treasury Secretary Scott Bessent<\/strong>. The Yen recently breached the <strong>161 level against the dollar<\/strong>, a two-year low that has surpassed previous intervention thresholds.<\/p>\n<p>Minister Katayama reiterated that Japanese authorities are prepared to take <strong>&quot;appropriate measures&quot;<\/strong> to combat speculative movements. While Secretary Bessent acknowledged the &quot;robust&quot; coordination between the two nations, markets remain on high alert for a potential unilateral or joint currency intervention to stabilize the exchange rate.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Diplomatic_Maneuvers_Iran_and_the_White_House\"><\/span>Diplomatic Maneuvers: Iran and the White House<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Following high-level negotiations in Lucerne, Switzerland, <strong>Iran\u2019s Foreign Ministry<\/strong> clarified that Tehran has not accepted any new nuclear commitments or reopened negotiations on the core nuclear issue. Despite this, <strong>U.S. Vice President JD Vance<\/strong> described the talks as a &quot;major milestone&quot; that laid a &quot;good foundation&quot; for a final deal. Technical discussions are expected to continue for a 60-day period.<\/p>\n<p>Concurrently, <strong>Secretary of State Marco Rubio<\/strong> is scheduled to travel to the <strong>UAE, Kuwait, and Bahrain<\/strong> from June 23-25. The trip is intended to shore up support among Gulf allies for the preliminary accord with Iran. Meanwhile, the <strong>White House<\/strong> teased a major &quot;Quantum&quot; announcement, with reports suggesting a forthcoming executive order aimed at protecting U.S. quantum research from foreign espionage.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Performance_Summary\"><\/span>Market Performance Summary<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>European markets saw varied performance on Monday. Britain&#39;s <strong>FTSE 100<\/strong> rose <strong>0.77%<\/strong> and Germany&#39;s <strong>DAX<\/strong> gained <strong>0.66%<\/strong>, buoyed by optimism surrounding the U.S.-Iran ceasefire. However, France&#39;s <strong>CAC 40<\/strong> dipped <strong>0.12%<\/strong>, while Spain&#39;s <strong>IBEX<\/strong> outperformed with a <strong>1.18%<\/strong> gain. Investors remain cautious as they monitor the potential resignation of UK Prime Minister Keir Starmer and upcoming speeches from <strong>European Central Bank<\/strong> officials.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Meta (META) names CRED founder Kunal Shah as Global CEO of WhatsApp following a $900 million investment in 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