Chamath Palihapitiya Launches New Blank-Check Vehicle with Focus on AI, Energy, and Defense

Chamath Palihapitiya, former Facebook executive and "SPAC King," launches new blank-check vehicle American Exceptionalism Acquisition Corp. with a $345 million fund and a plan to target AI, energy, defense, and decentralized finance companies. The SPAC is designed to add value with a disciplined, institutionally backed vehicle. Palihapitiya aims to temper retail fervor by allocating only 1.3% of the allocation to retail investors and structuring the deal to carry no warrants. The SPAC is five times oversubscribed, drawing $1.4 billion in demand.