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BIG TECH$15B data center
Google's $15B India Data Center Faces Legal Fight
Activists and a state high court are challenging Google's $15 billion Andhra Pradesh data center project over water use and its proximity to a wildlife sanctuary, with a hearing set for August 24.
BRIEF
SoftBank Borrows $10B Against Its OpenAI Bet
BIG TECH
SoftBank Borrows $10B Against Its OpenAI Bet
SoftBank secured a $10 billion margin loan against its OpenAI shares the same quarter an $8.2 billion Intel stake gain carried its earnings beat, while OpenAI itself contributed no investment gain at all.
DEEP DIVE
SpaceX Faces Test as 911M Shares Unlock
BIG TECHup to $116B unlocked
SpaceX Faces Test as 911M Shares Unlock
SpaceX's first major post-IPO lockup expiration freed 911.5M shares worth as much as $116B for sale on August 6, more than doubling the public float as the stock trades near $108, down from a post-IPO high above $225.
BRIEF
Tesla, SpaceX to Build $16.8B Chip Factory
BIG TECH$16.8B initial
Tesla, SpaceX to Build $16.8B Chip Factory
Tesla and SpaceX will jointly build Terafab, a $16.8B initial-phase chip factory in Grimes County, Texas, to make chips for Optimus, Cybercabs and space-based data centers, with total spending potentially reaching $119B.
BRIEF
Google's AI Shake-Up Raises Pichai Succession Questions
BIG TECH
Google's AI Shake-Up Raises Pichai Succession Questions
Google moved Demis Hassabis from DeepMind CEO to chair and chief scientist while Jeff Dean departed, a reshuffle analysts read as an early signal in the succession conversation around CEO Sundar Pichai.
BRIEF
Dow Hits a Record as AI Capex Jitters Hit Nasdaq
BIG TECH
Dow Hits a Record as AI Capex Jitters Hit Nasdaq
The Dow closed at a record for a fifth straight session while the Nasdaq fell on AI-capex jitters, and Palantir's still-standing 29% earnings pop shows investors separating AI infrastructure spending from AI software margins.
Foxconn Posts Record Sales on AI Server Demand
BIG TECH~$27.9B July revenue
Foxconn Posts Record Sales on AI Server Demand
Hon Hai, Apple and Nvidia's biggest contract manufacturer, posted record July revenue of roughly $27.9 billion, up 54% year over year, as AI server and cloud-networking demand offset a soft consumer-electronics season.
BRIEF
CXMT Chips Reach HP, Asus and Acer Laptops
BIG TECH
CXMT Chips Reach HP, Asus and Acer Laptops
HP, Asus and Acer confirmed limited use of Chinese CXMT memory chips in non-US laptops as AI data centers consume an estimated 70% of global memory chip production this year.
BRIEF
Jeff Dean Exits Google, Hassabis Steps Down as CEO
BIG TECH
Jeff Dean Exits Google, Hassabis Steps Down as CEO
Chief scientist Jeff Dean and three senior AI researchers left Google to start an independent lab called Discovery Loop, while Demis Hassabis moved from DeepMind CEO to Alphabet chief scientist as Kavukcuoglu takes over daily operations.
S&P 500, Nasdaq Hit Records as AI Trade Rebounds
BIG TECH
S&P 500, Nasdaq Hit Records as AI Trade Rebounds
The S&P 500 closed at a record 7,736.52 and the Dow topped 54,000 as strong earnings and easing oil prices fueled a broad AI-stock rally, even as AMD and SpaceX sold off on their own earnings.
Jeff Dean Exits Google, Hassabis Steps Down at DeepMind
BIG TECH
Jeff Dean Exits Google, Hassabis Steps Down at DeepMind
Google's longtime chief scientist Jeff Dean is leaving to start his own company after 27 years, while Demis Hassabis steps down as DeepMind's CEO to become Alphabet's chief scientist as Koray Kavukcuoglu takes over daily operations.
Apple's Private Relay Is Leaking Real IP Addresses
BIG TECH
Apple's Private Relay Is Leaking Real IP Addresses
Researchers Tommy Mysk and Talal Haj Bakry published three WebKit flaws that let websites see an iCloud+ subscriber's real IP address even with Private Relay switched on, and say they skipped disclosing to Apple first.
Saudi PIF, Kushner's Affinity Close $55B EA Buyout
BIG TECH$55B buyout
Saudi PIF, Kushner's Affinity Close $55B EA Buyout
A consortium led by Saudi Arabia's PIF, Silver Lake and Jared Kushner's Affinity Partners completed a $55B take-private of Electronic Arts, financed by a $20B JPMorgan loan -- the largest leveraged buyout on record.
AMD Sinks as Musk Commits SpaceX Exclusively to Nvidia
BIG TECH
AMD Sinks as Musk Commits SpaceX Exclusively to Nvidia
AMD shares fell as much as 9% after Elon Musk said SpaceX will build exclusively on Nvidia's Vera Rubin architecture going forward, even as AMD beat Q2 estimates and CEO Lisa Su guided to 80% second-half server revenue growth.
Reddit Is Testing an LLM to Replace AutoMod
BIG TECH
Reddit Is Testing an LLM to Replace AutoMod
Reddit is expanding tests of Rules Hub, an LLM-based enforcement system that reads the intent of a subreddit rule instead of matching keywords, and says it eventually wants it to take over AutoMod's enforcement job.
Zoox Starts Charging for Robotaxi Rides in Las Vegas
BIG TECH
Zoox Starts Charging for Robotaxi Rides in Las Vegas
Amazon-owned Zoox will begin charging fares for its steering-wheel-free robotaxis in Las Vegas on August 10, its first commercial market after NHTSA cleared it to operate up to 2,500 driverless vehicles without human controls.
AMD Sinks Despite Record Earnings, Data Center Doubles
BIG TECH$11.5B Q2 revenue
AMD Sinks Despite Record Earnings, Data Center Doubles
AMD posted record $11.5B quarterly revenue and 107% data center growth, yet shares fell nearly 9% after hours as investors questioned the pace and durability of the AI buildout funding it.
Saudi-Led Group Closes $55B EA Buyout With Kushner
BIG TECH$55B buyout
Saudi-Led Group Closes $55B EA Buyout With Kushner
Saudi Arabia's Public Investment Fund, Silver Lake and Jared Kushner's Affinity Partners completed the largest leveraged buyout on record, taking Electronic Arts private at $210 a share with $20B borrowed from JPMorgan.
Google Assistant Is Disappearing From Phones Next Month
BIG TECH
Google Assistant Is Disappearing From Phones Next Month
Google is shutting down the classic Google Assistant on phones and tablets next month, completing its transition to Gemini as the default AI assistant across Android.
SpaceX Beats, Musk Vows Moon Robots and $1T Sales
BIG TECH$7.8B Q2 revenue
SpaceX Beats, Musk Vows Moon Robots and $1T Sales
SpaceX's debut public earnings report beat estimates with revenue nearly doubling to $7.8B, but a promise of moon-based robots and a pulled-forward $1 trillion revenue target didn't stop shares from sliding on the size of its AI capex.
SpaceX's First Public Earnings Spook Wall Street
BIG TECH$7.8B Q2 revenue
SpaceX's First Public Earnings Spook Wall Street
SpaceX posted 92% revenue growth to $7.8B in its first quarterly report since June's IPO, but shares reversed to a loss after hours once investors saw quarterly capex nearly double to $18.4B.
AMD Data Center Revenue Doubles, Stock Still Falls
BIG TECH$6.7B data center rev.
AMD Data Center Revenue Doubles, Stock Still Falls
AMD's data center revenue rose 107% to $6.7B and beat the Street, but shares fell more than 8% after-hours on concerns about what sustaining that growth will cost.
OpenAI Fires Back at Apple's Trade Secret Suit
BIG TECH
OpenAI Fires Back at Apple's Trade Secret Suit
OpenAI published internal chats and emails calling Apple's trade-secret lawsuit over its hardware plans careless, aggressive and oddly personal, escalating a fight that began when Apple sued in July.
OpenAI Publishes Emails to Rebut Apple's Trade Secret Suit
BIG TECH
OpenAI Publishes Emails to Rebut Apple's Trade Secret Suit
OpenAI answered Apple's July trade secrets lawsuit with a public post calling it careless, aggressive and oddly personal, publishing messages it says show Apple staff asking a departed employee to help locate files.
SpaceX Now Makes More Money as an AI Company
BIG TECH
SpaceX Now Makes More Money as an AI Company
SpaceX's Q2 revenue nearly doubled year-over-year, with compute deals for Anthropic and Google now contributing enough that its AI-infrastructure business is rivaling its core launch and Starlink revenue.
Bending Spoons Buys Airtable for $1.28B
BIG TECH$1.285B
Bending Spoons Buys Airtable for $1.28B
Bending Spoons, fresh off its own July IPO, agreed to acquire Airtable for $1.285B -- a steep discount to Airtable's 2021 peak valuation of over $11B but a premium to recent secondary pricing near $4B.
Amazon Joins the $3 Trillion Club on AI Cloud Demand
BIG TECH$3T market cap
Amazon Joins the $3 Trillion Club on AI Cloud Demand
Amazon crossed a $3 trillion market cap after AWS grew 37% to $42.2B on AI-driven cloud demand, joining Apple, Microsoft, Alphabet and Nvidia in a club it took just over two years to reach from $2 trillion.
Palantir Revenue Nearly Doubles, Erases Short Bets
BIG TECH$1.94B Q2 revenue
Palantir Revenue Nearly Doubles, Erases Short Bets
Palantir's Q2 revenue rose 93% to $1.94B and full-year guidance climbed to at least $8.15B, sending shares up 29% in a single session and wiping out roughly $3B in short-sellers' gains.
The AI Trade Is Splitting Into Two Economies
BIG TECH
The AI Trade Is Splitting Into Two Economies
Amazon just crossed $3 trillion and Palantir posted its best quarter ever on real enterprise deployment, while SpaceX's stock and AI pricing power keep getting cheaper -- the money is bifurcating into what's shipped and what's still promised.
Palantir Posts Blowout Quarter, Revenue Up 93%
BIG TECH$1.94B Q2 revenue
Palantir Posts Blowout Quarter, Revenue Up 93%
Palantir's Q2 revenue jumped 93% to $1.94B, with U.S. commercial revenue up 149%, and the company raised full-year guidance well above what Wall Street expected.
Palantir's Commercial Business Just Tripled Its Bet
BIG TECH$1.94B Q2 revenue
Palantir's Commercial Business Just Tripled Its Bet
Palantir posted 93% revenue growth and raised its full-year commercial guidance after U.S. commercial revenue surged 149% -- the clearest evidence yet that enterprise AI deployment, not just government contracts, can carry a real growth story.
Microsoft's Capex Guidance Is a Nvidia Demand Signal
BIG TECH
Microsoft's Capex Guidance Is a Nvidia Demand Signal
Microsoft CFO Amy Hood says fiscal 2027 capex will grow year-over-year on 'demand signals across our portfolio,' and Nvidia stock rose 3% on the read-through even before its own August 26 earnings.
Amazon Joins the $3 Trillion Club
BIG TECH$3.06T market cap
Amazon Joins the $3 Trillion Club
Amazon became only the fifth company ever to cross a $3 trillion market cap, driven by an AWS beat that showed cloud growth accelerating rather than plateauing -- a direct rebuttal to the summer's AI-capex skepticism.
Apple Finally Fixed Siri. It Feels Anticlimactic.
BIG TECH
Apple Finally Fixed Siri. It Feels Anticlimactic.
Apple's long-promised, genuinely capable Siri AI has arrived in the iOS 27 beta, but reviewers say it lands at a moment when being a competent AI assistant no longer feels like news.
An Apple iCloud Policy Quietly Fueled the OpenAI Leak Suit
BIG TECH
An Apple iCloud Policy Quietly Fueled the OpenAI Leak Suit
An Apple iCloud policy reportedly made it easier for departing employees to retain company data, now central to leak allegations underpinning a lawsuit tied to OpenAI.
Big Tech's AI Capex Verdict: Discipline Beats Scale
BIG TECH
Big Tech's AI Capex Verdict: Discipline Beats Scale
This week's earnings split investors sharply on AI capex: Microsoft's spending got rewarded, Meta's crushed free cash flow and its stock -- the market has stopped treating all AI infrastructure spending as equally good news.
Uber Is Quietly Building an Autonomous Vehicle Empire
BIG TECH
Uber Is Quietly Building an Autonomous Vehicle Empire
Uber has stitched together partnerships with more than a dozen self-driving companies -- including Waymo and Wayve -- betting it can win the robotaxi era as an aggregator rather than a manufacturer.
SpaceX Won't Remove All of xAI's Turbines Until 2027
BIG TECH
SpaceX Won't Remove All of xAI's Turbines Until 2027
SpaceX confirmed it will keep running dozens of unpermitted gas turbines powering xAI's Memphis data centers for another year, even as it builds a permanent 1.2-gigawatt gas plant to replace them.
Meta Tops $60B in Quarterly Revenue, Lifts AI Capex to $145B
BIG TECH$60.8B Q2 revenue
Meta Tops $60B in Quarterly Revenue, Lifts AI Capex to $145B
Meta reported second-quarter revenue of $60.8 billion, up 28% year-over-year, and raised the top end of its 2026 AI infrastructure spending range to $145 billion as advertising and large-language-model investment both accelerated.
Amazon Surges, Apple Falls as Investors Pick AI Winners
BIG TECHAMZN +12-14%, AAPL -8-9%
Amazon Surges, Apple Falls as Investors Pick AI Winners
Amazon jumped after AWS posted its fastest cloud growth in 18 quarters while Apple fell on soft guidance and supply constraints, in Tim Cook's final earnings call before handing the CEO role to John Ternus.
Amazon Completes Additional $35B Investment in OpenAI
BIG TECH$35B completed
Amazon Completes Additional $35B Investment in OpenAI
Amazon has funded the remaining $35 billion of its $50 billion OpenAI commitment, a tranche that was contingent on OpenAI hitting an IPO or AGI-linked milestone, deepening Amazon's stake in the AI leader it also competes with through AWS.
IonQ Completes $1.8B Acquisition of SkyWater Technology
BIG TECH$1.8B acquisition
IonQ Completes $1.8B Acquisition of SkyWater Technology
IonQ closed its $1.8 billion cash-and-stock purchase of SkyWater Technology on Friday, creating what it calls the only vertically integrated, full-stack quantum computing company with its own domestic chip foundry.
Aschenbrenner's $45B AI Hedge Fund Forced Into Fire Sale
BIG TECH$45B to ~$10B
Aschenbrenner's $45B AI Hedge Fund Forced Into Fire Sale
Leopold Aschenbrenner's hedge fund was forced to unwind nearly all its public stock positions after leveraged AI-infrastructure bets moved sharply against it, shrinking from roughly $45 billion to about $10 billion in weeks.
Kospi Jumps a Record 18% as Samsung, SK Hynix Soar
BIG TECH+17.9%, record
Kospi Jumps a Record 18% as Samsung, SK Hynix Soar
South Korea's benchmark index posted its largest single-day gain on record after Samsung Electronics and SK Hynix surged on renewed confidence in AI-chip demand, following Microsoft's blowout cloud earnings.
Amazon Tops $200B Revenue as AWS Growth Hits 18-Quarter High
BIG TECH$200.6B rev, AWS +37%
Amazon Tops $200B Revenue as AWS Growth Hits 18-Quarter High
Amazon's Q2 revenue topped $200 billion for the first time, with AWS growing 37% -- its fastest pace in 18 quarters -- as the company raised its 2026 capex outlook to $220 billion.
Microsoft Posts Largest Single-Day Market-Value Gain Ever
BIG TECH+15.5%, +$450B
Microsoft Posts Largest Single-Day Market-Value Gain Ever
Microsoft shares surged more than 15% Thursday, adding roughly $450 billion in market value in a single session -- the largest one-day market-cap gain in stock market history -- after Azure crossed $100 billion in annual revenue and accelerated to 43% growth.
Microsoft Adds Record $450B in a Single Trading Day
BIG TECH+$450B market cap
Microsoft Adds Record $450B in a Single Trading Day
Microsoft shares jumped 16% and added roughly $450 billion in market value on Thursday, the largest single-day gain for any company in market history, after fourth-quarter earnings showed Azure growing 43% year-over-year.
Apple Beats Estimates for a 13th Straight Quarter
BIG TECH$109.4B rev, EPS $2.02
Apple Beats Estimates for a 13th Straight Quarter
Apple beat Wall Street's revenue and profit estimates for a 13th consecutive quarter, posting $109.4 billion in Q3 revenue and EPS of $2.02, up 29% year-over-year, on strong iPhone sales.
Coinbase Revenue Falls 19% in Q2, Renews Circle Deal
BIG TECH$1.2B, -19% YoY
Coinbase Revenue Falls 19% in Q2, Renews Circle Deal
Coinbase reported second-quarter revenue fell 19% to $1.2 billion, its third consecutive quarterly decline, even as the exchange renewed its lucrative USDC revenue-sharing agreement with Circle on existing terms.
SpaceX Wins $1.6B Space Force Launch Contract
BIG TECH$1.6B contract
SpaceX Wins $1.6B Space Force Launch Contract
The Space Force awarded SpaceX $1.6 billion across two task orders to launch 18 Falcon 9 missions carrying missile-tracking satellites, on a two-month acquisition timeline the Pentagon called unprecedented.
Nscale Buys Anyscale for $1.65B to Own More of AI Stack
BIG TECH$1.65B acquisition
Nscale Buys Anyscale for $1.65B to Own More of AI Stack
AI cloud platform Nscale agreed to acquire Anyscale, the commercial steward of the open-source Ray framework, for roughly $1.65 billion, combining Nscale's power and data-center assets with Anyscale's workload orchestration software.
Meta's Record Losing Streak Deepens, Zuckerberg Down $15B
BIG TECH-9.64% AH, $223B wiped
Meta's Record Losing Streak Deepens, Zuckerberg Down $15B
Meta shares extended their longest losing streak on record into Thursday's premarket, tacking a further slide onto a nine-day, $223 billion rout that a mixed Q2 print and a 91% collapse in free cash flow failed to stop.
Chip Rout Goes Global as Kioxia, SoftBank Slide in Asia
BIG TECH
Chip Rout Goes Global as Kioxia, SoftBank Slide in Asia
A third day of chip-stock selling spread to Asia, with Kioxia down nearly 8%, SoftBank off more than 6%, and Tokyo Electron down almost 5% after SK Hynix missed second-quarter estimates, even as Samsung posted a record quarter the same morning.
Meta Beats on Revenue, Misses on EPS as Capex Climbs
BIG TECH$60.8B Q2 revenue
Meta Beats on Revenue, Misses on EPS as Capex Climbs
Meta posted $60.8 billion in second-quarter revenue, up 28% and ahead of estimates, but adjusted EPS of $6.18 missed the $7.13 consensus as AI infrastructure costs compressed margins and full-year capex guidance ticked up to $130-145 billion.
Microsoft's Azure Tops $100B as FY27 Capex Guide Jumps
BIG TECH$90.01B Q4 revenue
Microsoft's Azure Tops $100B as FY27 Capex Guide Jumps
Microsoft closed fiscal 2026 with Azure crossing $100 billion in annual revenue for the first time and beat on every headline number, but it's the FY2027 capex guide of $255-260 billion -- up from $190 billion this year -- that's the number Wall Street will be arguing about tomorrow.
Divided Fed Holds Rates as Three Officials Dissent
BIG TECH
Divided Fed Holds Rates as Three Officials Dissent
The Federal Reserve held its benchmark rate at 3.5-3.75% in a 9-3 vote, the first policy-level dissent favoring a hike since 2016, as Chair Kevin Warsh called it the 'good family fight' he asked for.
DoorDash Launches Its Own Drone Delivery Fleet
BIG TECHFAA Part 135
DoorDash Launches Its Own Drone Delivery Fleet
DoorDash launched DoorDash Air, its in-house drone delivery program, after securing FAA Part 135 certification to begin commercial operations targeting sub-25-minute deliveries within five miles.
Chip Stocks Shed $1.5 Trillion in Two-Day Rout
BIG TECH-$1.5T sector value
Chip Stocks Shed $1.5 Trillion in Two-Day Rout
The semiconductor selloff deepened Wednesday as SK Hynix fell 14.7% and Samsung dropped 13.4%, extending a rout that has erased roughly $1.5 trillion in sector value since June 25 on fears that AI infrastructure spending is outrunning near-term demand.
SK Hynix Earnings Miss Deepens $1 Trillion Chip Rout
BIG TECH
SK Hynix Earnings Miss Deepens $1 Trillion Chip Rout
SK Hynix posted a record quarterly profit that still fell short of Wall Street's AI-fueled expectations, sending its stock down nearly 10% and extending a chip-sector selloff that has now wiped out more than $1 trillion in market value.
Microsoft, Meta Earnings Put Wall Street's AI Patience to the Test
BIG TECH
Microsoft, Meta Earnings Put Wall Street's AI Patience to the Test
Microsoft and Meta report Q2 results after the bell Wednesday, the first of the Magnificent Seven to face investors since Apple reclaimed the world's-most-valuable-company crown from Nvidia on the strength of capital discipline rather than AI spending.