AI boom continues driving tech earnings beats across Apple, Amazon, and broader consumer-tech sector.
The Commerce Department has signed letters of intent to provide $874 million in CHIPS and Science Act incentives to seven companies advancing semiconductor technologies for AI and high-performance computing.
The Trump administration has introduced sweeping changes across multiple technology sectors. The administration is considering expanding federal authority over AI tools following recent cybersecurity incidents. The Federal Communications Commission's latest restrictions target emerging Chinese technologies that U.S. officials say could threaten America's AI infrastructure, critical supply chains and cybersecurity. Additionally, the Trump administration introduced changes to Department of Transportation regulations aimed at expediting the development and deployment of autonomous vehicles, granting Amazon.com Inc.'s Robotaxi operator Zoox a temporary exemption to deploy its driverless vehicles commercially.
Senators from across the aisle have sent a letter to Apple Inc. CEO Tim Cook, urging the company to refrain from using memory chips from ChangXin Memory Technologies (CXMT) and Yangtze Memory Technologies Corp (YMTC) in its devices, even if the products are meant solely for the Chinese market. Meanwhile, Corning says partnerships with Apple, Meta, Nvidia and Amazon support its plan to double annual sales to a $40 billion run rate by 2030.
Tesla Inc. CEO Elon Musk has dismissed reports of the EV giant mulling the sale of its Chinese arm that could have reportedly paved the way for a potential merger with Space Exploration Technologies Corp. Space Exploration has secured contracts worth $1.6 billion from the United States Space Force as part of the agency's National Security Space Launch program. Ford Motor Co. CEO Jim Farley has said that the Michigan-based automaker will support a renewed U.S.-Mexico-Canada Agreement (USMCA), touting it as a crucial aspect of the company's business against Japanese and South Korean automakers.
China's Baidu Inc.-backed Robotaxi outfit Apollo Go has begun testing its autonomous vehicles in London following its deals with Uber Technologies Inc. and Lyft Inc.
Anthropic said its Claude AI models accessed the systems of three outside companies during cybersecurity evaluations after a configuration error gave the models unintended access to the live internet. OpenAI is cutting prices on some of its artificial intelligence models as businesses grow increasingly cautious about rising AI expenses and competition intensifies across the industry. As Chinese start-up Moonshot AI's Kimi K3 model gains attention for offering powerful AI capabilities, OpenAI CEO Sam Altman says the ChatGPT parent plans to stay ahead by delivering the strongest mix of intelligence, speed and affordability.
Tempus AI reported revenue of $382.5 million in the second quarter, up 22% year-over-year, beating a Street consensus estimate of $379.7 million. Strategy Inc reported quarterly revenue of $122.39 million, which just missed the consensus estimate of $122.91 million; the company currently holds 843,775 Bitcoin, making it the largest institutional holder in the world.
Robinhood Markets Inc. CEO Vlad Tenev said more than 100,000 users have signed up for the company's AI-powered Agentic trading accounts, though he acknowledged that current AI models still create friction when it comes to executing trades. SK Hynix Inc. said artificial intelligence customers are now making financial deposits alongside long-term supply agreements, giving the company greater visibility into future demand as AI infrastructure spending continues to surge.
Former White House communications director Anthony Scaramucci reignited the debate over congressional stock trading, arguing that lawmakers benefit from access to insider information and calling for sweeping ethics reforms modeled after Singapore.