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Texas becomes first U.S. state to exceed 1 million coronavirus cases

Texas has surpassed 1 million confirmed COVID-19 cases, Johns Hopkins University data shows.

Why it matters: Texas is the first U.S. state to pass the milestone. It has the 10th most cases in the world, reporting 1,010,364 infections by early Wednesday — more than Italy, which has confirmed 995,463 cases, per JHU.

Editor's note: This is a developing news story. Please check back for updates.

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How sports retailer Fanatics achieved "decacorn" status

Data: CrunchBase; Chart: Connor Rothschild/Axios

Fanatics has nearly tripled in value over the last year. Now, the e-commerce giant wants to expand into new businesses like sports betting, ticketing and media.

Driving the news: Fanatics closed a $325 million funding round last week that values the company at $18 billion, making it the world's 12th-most valuable private company, per CB Insights.

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Biden vacancies delay Big Tech reckoning

Data: Axios research; Table: Axios Visuals

President Biden still hasn't named permanent leaders at the key agencies overseeing the tech and telecom industries, giving him a late start on confronting powerful U.S. companies.

Why it matters: If Biden doesn't move quickly, there won't be enough time left for his administration to take on big targets and tackle thorny policy problems.

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The rise of military space powers

Nations around the world are shoring up their defensive and offensive capabilities in space — for today's wars and tomorrow's.

Why it matters: Using space as a warfighting domain opens up new avenues for technologically advanced nations to dominate their enemies. But it can also make those countries more vulnerable to attack in novelways.

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Warren Buffett-backed Snowflake is largest software IPO ever

Snowflake, a Silicon Valley cloud data warehousing company, on Tuesday night raised $3.4 billion in what is the largest software IPO ever.

Between the lines: Snowflake loses money, but got a big boost of confidence when Warren Buffett's Berkshire Hathaway agreed to invest $500 million concurrent to the IPO.

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