BIG BILLION DAYS
Will SpaceX paint its rocket pink? Investor questions go beyond Moon and Mars ahead of first results
SpaceX's initial public offering allocated shares for retail investors. Shareholders submitted popular questions about Starship's lunar mission and mascot. Investors also inquired about orbital refueling and rocket aesthetics. While business outlook questions were less popular, AI data centers were discussed. Musk's long-term vision for abundance prompted investor queries about share value.
Chris Wood warns AI capex binge may burn billions as markets turn against Big Tech spending
Wood’s long-standing view is that the “hyperscalers will end up blowing a lot of money on their capex binge” and that AI could resemble the airline industry more than the winner-takes-all economics of the internet era.
How the quick fall from grace of a fund run by 'Nostradamus of AI' triggered a 24-hour race to salvage it
Leopold Aschenbrenner's hedge fund incurred significant losses and a forced sale of investments. Billionaire Ken Griffin's Citadel acquired these discounted technology holdings. The fund's assets plunged from forty-five billion to ten billion dollars. Aschenbrenner took responsibility for the month's performance and vowed changes. He continues to manage a large equity hedge fund and is set to marry soon.
South Korea July exports beat forecasts on robust demand for AI investments
Semiconductor exports jumped 179% as memory chip prices continued to rise despite the issues of Apple's potential use of Chinese memory chips and a new AI development in China, the trade ministry said in a statement. Computer sales also surged 404% on increasing AI investments by big U.S. technology firms, the ministry said.
Apple set to lose nearly $500 billion in value after weak forecast
Apple shares dropped significantly after a weak forecast indicated component shortages. The AI boom is straining global supply chains, impacting chip availability for major tech firms. This situation threatens to shrink both the personal computer and smartphone markets this year. Apple's services business also showed weakness, worrying investors about future revenue streams. Analysts are questioning Apple's supply chain leverage and the AI impact on its products.
You might never get your dream job: Psychology says your brain could be the biggest obstacle, here's how to overcome it
Many people blame the job market for missing out on their dream career, but neuroscientist Emily McDonald says the biggest obstacle could be the brain itself. She explains how the brain's default mode network, fear of success and self-identity can hold people back, and why changing the way you see yourself may help you move closer to your career goals.
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Amazon shares surge 13% as cloud growth eases AI spending fears
Amazon shares rose sharply on Fridat after stronger-than-expected growth at its cloud business reinforced investor confidence in the company's AI investments. AWS posted its fastest revenue growth in over four years, while management's upbeat outlook helped ease concerns over the scale of Big Tech's capital spending on artificial intelligence.
Apple shares tumble 9% on supply worries, on track for worst single-day fall in over 6 years
Apple shares plunged over 9% after the iPhone maker issued a weaker-than-expected outlook, warning that AI-driven component shortages are straining global supply chains. The stock is on track for its worst one-day fall in more than six years, putting nearly $500 billion in market value at risk and lifting Nvidia's valuation lead.
EU to crack down on AI deepfakes, illicit imagery and hacking with new team in Brussels
The European Union has launched a new team to regulate AI companies worldwide. This initiative aims to track AI model usage for violations of new regulations. Companies must now label AI-generated content, ensuring transparency for consumers. The EU seeks to foster AI that people and businesses can understand and trust. This move aligns with the bloc's strategy for greater tech sovereignty and independence.
For over a decade, Louisiana groups have been planting cypress and tupelo trees to help buffer hurricanes; 30,000 are planned near Lake Borgne
Volunteers are replanting thousands of trees near Lake Borgne, Louisiana. These efforts aim to rebuild a natural buffer against storm surge. Decades of development and the MRGO channel damaged the original coastal wetlands. Scientists confirm cypress trees effectively reduce storm impacts and wind damage. This project demonstrates nature's resilience in protecting vulnerable coastlines from rising seas.
Bosch Home to start AC exports from India in two years: CEO & President Jan Brockmann
Bosch Home Comfort Group will begin India exports within two years, aiming for global manufacturing. The company is investing eighty million euros to expand its Indian manufacturing capacity significantly. India's stable geopolitical ties and strategic location make it a manufacturing hub for multiple regions. This fresh investment is Bosch's largest manufacturing commitment globally in recent times.
Amazon to boost spending on AI and other technology by $20 billion after strong Q2 results
The Seattle-based company said Thursday that sales in its cloud computing unit called AWS rose 37% during the April-June period, faster than the 28% clip in the previous quarter and marking the fastest rate of growth in 18 quarters.
Swiggy Q1 losses narrow; Groww founders plan new fund
Happy Friday! Swiggy lowered its losses in the April-June quarter as revenue rose. This and more in today’s ETtech Morning Dispatch.
Stocks in news: Maruti Suzuki, ITC, Vedanta, Swiggy, RIL
Indian markets traded in a narrow range, settling marginally higher with mixed cues. Maruti Suzuki, ITC, and Vedanta shares are in focus due to various news developments. Sun Pharma and Bajaj Finserv will announce their first quarter results today. Tata Steel reported a fifteen percent rise in its net profit for the June quarter. Reliance Industries ramped up diesel exports to Europe and Brazil in July.
Global Market Today: Asian stocks rise on Korean rally, yen holds gains
Asian stocks advanced as chip shares revived artificial intelligence trade confidence. South Korea's Kospi Index surged over fourteen percent, rebounding strongly. Japan's shares also gained, lifting the regional MSCI Asia Pacific gauge. The yen held its gains after authorities intervened to support the nation's currency. Attention remains on the Bank of Japan's policy decision announcement Friday.
US stocks: Amazon beats estimates for quarterly cloud revenue growth
Amazon Web Services cloud revenue surged significantly, surpassing market forecasts. This strong performance was fueled by increased enterprise artificial intelligence spending. Rivals Microsoft and Alphabet's Google also reported solid cloud revenue growth. Amazon's e-commerce business saw increased activity during its Prime Day event. The company's investments in AI infrastructure are now showing clear returns.
Warren Buffett's way to distinguish a great investor from a lucky one. Which one are you?
In a bull market, everyone looks like a genius. Warren Buffett, having just booked what he believed was the largest one-year gain any American business had ever made, refused to take the bow. He told his shareholders a big part of it was pure luck. And then spent the rest of the letter teaching the single skill that matters most to an investor: How to tell whether a result came from ability or from a rising tide. The answer separates the managers you should trust from the ones you should flee, and the businesses that last from the ones that will die.
100% tariff threat for India and others: US Senate advances Russia sanctions bill
The US Senate overwhelmingly advanced a bipartisan sanctions bill targeting Russian energy buyers. This legislation grants President Trump broad powers to impose new tariffs on Moscow. India and China are among the largest buyers of Russian crude oil and natural gas. The bill also extends sanctions against Iran and broadens measures on Russian energy exports. President Trump has signaled his support for this aggressive new legislation.
Zepto may hit pause on IPO; BigBasket’s losses rise
Quick commerce company Zepto may defer its listing plans as negotiations over its valuation hit a roadblock. This and more in today’s ETtech Top 5.
China is throwing a 1-2-3 punch at the global AI trade
In quick succession, China has thrown a powerful 1-2-3 punch at the global AI trade. On July 16, Beijing-based startup Moonshot AI released the Kimi K3 model with performance that rivals top-tier offerings from OpenAI and Anthropic.
Nasdaq 100 heads for correction as AI worries rattle investors
The benchmark reached the correction threshold in just 38 trading days, versus more than 100 sessions during its previous decline.
From fashion to fast delivery: Nandita Sinha’s new challenge is Instamart
Nandita Sinha will lead Swiggy's quick commerce vertical Instamart. She previously served as CEO of Myntra, turning the company profitable and also held leadership roles at Flipkart and consumer goods companies. She oversaw Myntra's expansion into premium fashion and quick delivery services.
Google rivals line up seeking damages after record $1 billion fine
Google faces new costly lawsuits in Europe after losing a key case. Smaller rivals are now demanding up to ten billion dollars in damages. This follows a billion-dollar fine under new EU legislation for favoring its own services. The company has already paid billions in EU fines over the past decade. These private cases are progressing, and more are being prepared for filing.
Chipmaker CXMT vaults to top of China's valuation with 466% surge in Shanghai debut
China's leading memory chipmaker CXMT became the most valuable company in the mainland after soaring 500 percent on its market debut Monday, underscoring the impact of AI-driven demand on the semiconductor sector. The firm's shares rocketed more than 500 percent by mid-morning, taking its market capitalisation to 3.5 trillion yuan ($520 billion) -- surpassing megabank ICBC as the mainland's most valuable company.
Explainer: Why investors are betting big on China’s chipmaker CXMT
China's ChangXin Memory Technologies (CXMT) became the country's most valuable listed company after its shares surged 470% on their Shanghai debut. The blockbuster listing, Asia's largest IPO this year, highlights strong investor confidence in China's semiconductor ambitions as Beijing pushes for greater technological self-reliance amid global chip competition.
In 2006, a record-breaking heatwave pushed New England's power grid to its limit. A decision made years later is now saving people up to $149 million during extreme summer heat
New England's electricity grid faced challenges during a 2006 heatwave and investments in rooftop solar panels began around 2008 to 2010. These solar systems generated significant electricity during a recent heatwave. Rooftop solar helped save customers millions of dollars over one week. Energy efficiency measures also contributed to lower electricity bills.
Canva billionaires Melanie Perkins and Cliff Obrecht are giving away $150 million in cash with no conditions for the world's largest unconditional cash transfer program in a low-income country
Canva founders are funding a large cash transfer program in Malawi and under this initiative, they provides families with unconditional funds to improve their lives. Early results show significant reductions in child mortality and illness and increment in school enrollments. Local economies also benefited as money circulated through neighborhood businesses.
This wave of Trump tariffs is likely here to stay; more are coming
The Trump administration is rebuilding its tariff wall using established trade laws. New duties target forced labor and excess industrial capacity globally. These actions aim to secure trade concessions and reshore production. The strategy shifts from untested emergency measures to court-tested statutes. This approach promises more durable trade policies and potential business certainty.
Trump says US to launch EU probe over 'illegal' Google fine
United States President Donald Trump criticized the European Union's decision to fine Alphabet's Google. He announced an immediate probe into the bloc's practices against American companies. The European Commission imposed an €890 million fine on Google for violating EU rules. Trump stated the European Union would pay a significant price for this conduct. This action reflects ongoing trade tensions between the United States and the European Union.
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