President Donald Trump, hedge fund billionaire Bill Ackman and entrepreneur Anthony Pompliano criticized New York’s decision to temporarily halt approvals for new large-scale data centers.
President Donald Trump‘s One Big Beautiful Bill Act cost the clean energy, manufacturing and industrial sector $82.8 billion through cancellations and delays in the U.S.
Vice President JD Vance warned that artificial intelligence (AI) could unleash major economic growth but said workers must have a role in shaping the distribution of wealth created by the technology.
Former House Speaker Nancy Pelosi criticized President Donald Trump and congressional Republicans, arguing that their budget priorities favor military spending over addressing the financial challenges facing American families.
Chinese President Xi Jinping voiced China’s readiness to pursue greater openness and practical action in AI development. He stressed the importance of international cooperation, stating that AI development should not be a “solo performance” by a single country, but a “symphony of global collaboration,” the South China Morning Post reported.
Software, Technology & Network
Bloomberg reported that the release of Alphabet Inc.’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Gemini 3.5 Pro has slipped by several months as engineers work to improve the model’s capabilities, particularly in coding—an area where rivals like OpenAI and Anthropic have taken a clear lead.
International Business Machines Corporation (NYSE:IBM) pre-announced its preliminary second-quarter results, revealing earnings of $2.93 per share, far lower than the consensus estimate of $3.02. The company reported revenue of $17.2 billion against a Street estimate of $17.9 billion, leading to a significant drop in share price earlier this week.
Microsoft Corp. (NASDAQ:MSFT) has reportedly instructed its sales team on Tuesday to position in-house AI models above rival offerings from OpenAI, Google and Anthropic, as part of a fiscal 2027 strategy session.
3M Company (NYSE:MMM) shares are trading higher on Wednesday as the company announced a strategic partnership with Microsoft to enhance AI data center infrastructure.
Oracle Corporation (NYSE:ORCL) is reportedly leading the race to provide high-security cloud services to Japan. This move is crucial for secure intelligence sharing between Tokyo and its allies.
Nokia Corporation (NYSE:NOK) disclosed the industry’s first commercial AI-RAN platform, enabling operators to move toward AI-native networks.
Ericsson (NASDAQ:ERIC) reported weaker-than-expected second-quarter revenue numbers, shrinking margins in its core Networks division, and a cautious outlook.
Stripe and Advent International have reportedly proposed a joint acquisition of PayPal Holdings Inc (NASDAQ:PYPL) in a deal valued at over $53 billion.
Meta Platforms Inc (NASDAQ:META) has been sued by some employees who claim the company’s AI-assisted systems disproportionately affected workers with disabilities and those who took protected medical or family leave during its latest layoffs, allegations the company has denied.
Meta has significantly ramped up its investment in the Hyperion data center project in Louisiana. The project’s cost now surpasses a whopping $50 billion.
Nuburu, Inc. (AMEX:BURU) announced a proposed public offering that is expected to be priced above the current market price.
Semiconductors & Equipment
Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) revenue climbed to $40.2 billion in the second quarter, landing at the high end of guidance and comfortably ahead of Wall Street expectations. The growth was powered by relentless demand for AI processors, which pushed net profit to a record near $22 billion and lifted gross margins to 67.7%, topping management’s own forecast.
Taiwan Semiconductor will pour an extra $100 billion into its Arizona facilities to cater to the burgeoning customer demand.
Nvidia Corp. (NASDAQ:NVDA) has reportedly slashed the number of approved AI chip buyers across parts of Asia after introducing stricter compliance measures designed to prevent its advanced processors from reaching China.
SemiLEDS Corporation (NASDAQ:LEDS) revealed a significant increase in revenue, reaching $9.1 million for the third quarter, compared to just $1.1 million in the previous quarter. This is driven by higher buy-sell equipment orders.
ASML Holding N.V. (NASDAQ:ASML) reported stronger second-quarter results and raised its full-year 2026 outlook, citing robust demand for advanced chipmaking equipment fueled by artificial intelligence investments.
ASML CEO Christophe Fouquet revealed that Intel Corporation (NASDAQ:INTC) is already producing commercial chips using the company’s most advanced lithography system, calling the achievement “a very important milestone.”
CoreWeave Inc. (NASDAQ:CRWV) is reportedly exploring the use of financial derivatives to hedge against future declines in memory and storage chip prices.
Aehr Test Systems Inc. (NASDAQ:AEHR) reported fiscal fourth-quarter results that topped Wall Street estimates and issued fiscal 2027 revenue guidance well above expectations.
Samsung Electronics Co. (OTC:SSNFL) is accelerating the launch of its first semiconductor fabrication plant in Yongin to 2029, moving up the timeline by one to two years as demand for AI memory chips continues to surge.
Broadline Retail, Entertainment & Smartphones
GameStop Corp. (NYSE:GME) CEO Ryan Cohen is doubling down on plans to acquire eBay Inc. (NASDAQ:EBAY), a target roughly five times GameStop’s market value, despite eBay rejecting its $56 billion offer in May.
Google Cloud and Intel Corp. (NASDAQ:INTC) expanded their long-running strategic partnership, deepening the integration of artificial intelligence across Intel’s engineering, business and chip design operations.
Netflix Inc. (NASDAQ:NFLX) co-CEO Ted Sarandos reaffirmed the streaming giant’s long-standing preference for building and partnering over large-scale acquisitions as speculation continues over potential deals involving Lionsgate Studios Corp. (NYSE:LION), NBCUniversal and other media companies.
Paramount Skydance’s (NASDAQ:PSKY) proposed $110 billion acquisition of Warner Bros. Discovery, Inc. (NASDAQ:WBD) is facing a legal hurdle after a coalition of 12 states filed an antitrust lawsuit seeking to block the deal.
Automobile, Aerospace & Satellites
The U.S. aviation sector is reportedly pushing lawmakers to approve a funding package worth $20 billion to modernize the country’s aging air traffic control (ATC) systems, as well as curb flight disruptions.
The U.S. electric vehicle (EV) Average Transaction Price (ATP) declined 4.5% in June, despite the absence of Federal incentives for all-electric vehicles amid President Donald Trump‘s anti-EV stance.
Ride-hailing giant Uber Technologies Inc. (NYSE:UBER) has reached an agreement to acquire German food delivery platform Delivery Hero SE in a deal worth $14.8 billion.
Hyundai Motor Co. Ltd. (OTC:HYMLF) will acquire SoftBank Group Corp.‘s (OTC:SFTBF) (OTC:SFTBY) remaining roughly 10% stake in Boston Dynamics, making the U.S. robotics company wholly owned as Hyundai prepares to deploy Atlas humanoids in automotive production.
Volkswagen AG’s (OTC:VWAGY) CEO Oliver Blume warned employees that the automaker may need to eliminate another 50,000 jobs worldwide as it tries to close a 20% cost gap with rivals and avoid (OTC:VWAGY) CEO Oliver Blume warned employees on Monday that the automaker may need to eliminate another 50,000 jobs worldwide as it tries to close a 20% cost gap with rivals and avoid shutting German factories.
Stellantis NV (NYSE:STLA) said preliminary second-quarter vehicle shipments rose 10% from a year earlier to nearly 1.6 million units, as North America powered the rebound with stronger Ram, Jeep and Chrysler volumes.
Nissan Motor Co.‘s (OTC:NSANY) is increasing U.S. production to blunt tariff costs, but CEO Ivan Espinosa says the automaker will not move every Mexico-built vehicle north of the border because lower-priced models cannot absorb the added cost.
Autonomous vehicle operators like Waymo were slammed by San Francisco Mayor Daniel Lurie following multiple incidents and disruptions involving Robotaxis in the city.
XPeng Inc. (NYSE:XPEV) on Thursday outlined a path to Level 4 autonomous driving by 2028 as its Mona L03 carries the automaker’s latest artificial-intelligence platform into China and Europe.
United Airlines Holdings Inc. (NASDAQ:UAL) has introduced a new Economy seating option on its fleet of Airbus SE (OTC:EADSF) (OTC:EADSY) A321XLR aircraft that replaces the Boeing Co. (NYSE:BA) 757 aircraft.
Artificial Intelligence
Anthropic is reportedly working with major banks to expand its borrowing capacity as the artificial intelligence startup gears up for a potential public listing later this year.
JPMorgan Chase & Co. (NYSE:JPM) CEO Jamie Dimon warned that the risks stemming from Anthropic’s Mythos AI model are a “real issue,” adding that U.S. government officials are now focused on addressing the potential risks.
OpenAI’s high-stakes foray into consumer devices would reportedly start with a mobile, screen-free smart speaker designed as an AI companion capable of controlling smart home appliances.
Chinese artificial intelligence startup DeepSeek is reportedly preparing for an initial public offering and seeking fresh funding, with the company targeting an IPO filing as soon as this year.
Palantir Technologies Inc. (NASDAQ:PLTR) CEO Alex Karp warned that AI could become the biggest driver of wealth inequality in the U.S., saying that while the technology is likely to improve the standard of living for the average person, the biggest gains will only go to those leading the AI industry.
Braiin Limited (NASDAQ:BRAI) announced the launch of ARIA, an AI-native workforce designed for the real estate sector.
Photo via Shutterstock
