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8/11
13:12
Elon Musk states memory supply is now AI's biggest bottleneck, with demand rising 200% annually against 20% production growth
SpaceX CEO Elon Musk noted during the company's Q2 conference call that the limiting factor in building out AI computing capacity is currently the supply of memory. He highlighted a significant imbalance, with memory production capacity increasing by approximately 20% per year, while demand has surged by 200%. This imbalance has led to soaring prices for memory chips. Memory chip makers Micron and Sandisk have seen their shares rise by triple-digit percentages in 2026, though they have recently sold off from peaks due to concerns about AI spending. Micron expects more production capacity by mid-2027 and another facility by 2028, anticipating market tightness to persist beyond 2027. Sandisk recently reported 51% quarter-over-quarter growth for fiscal Q4 2026, with two-thirds of that growth attributed to higher prices.
13:12
Upwork shares plunge 12.2% after Q2 earnings miss and full-year guidance cut, citing AI automation and weak labor market
Upwork (NASDAQ: UPWK) reported second-quarter earnings per share of $0.20, missing the average analyst estimate of $0.21, despite sales of $191.7 million which slightly beat expectations. The gig-economy marketplace company also lowered its full-year sales guidance to between $730 million and $750 million, down from previous guidance of $760 million to $790 million. Full-year non-GAAP EPS guidance was also reduced to $1.38-$1.43 from $1.50-$1.55. CEO Hayden Brown attributed the downward revisions to automation driven by artificial intelligence technologies and a lack of improvements in the labor market.
12:59
Chipotle's 'Guac Signal' Identified Jalapeños as Salmonella Source, Prompting Automated Recall Before Health Agencies Acted
12:57
New Bitcoin Addresses Jumped to Over 330,000 Last Week Amid Coldcard Exploit
The number of new Bitcoin addresses climbed from roughly 260,000 to over 330,000, sharply reversing a downward trend that had persisted for most of the year. This surge is linked to the ongoing Coldcard exploit, which has led users to move funds after at least 1,816 BTC (approximately $116 million) was lost across four theft waves since July 30, traced to a 2021 firmware bug.
12:57
Well-known investor Michael Burry warns that Berkshire Hathaway is no longer an attractive investment, expressing concerns about a lack of patience among Buffett's successors.
Investor Michael Burry, known for accurately predicting the 2008 housing crash, stated in his August 10 "Cassandra Unchained" newsletter that his biggest concern for Berkshire Hathaway was that Warren Buffett's successor would lack the patience to wait for a "fat pitch," a concern he believes has now materialized. Burry noted that he no longer considers Berkshire Hathaway an attractive investment. Previously, Burry's bearish bets against Tesla, Caterpillar, major semiconductor funds, Oracle, and Nebius had all paid off. Berkshire Hathaway held approximately $365.5 billion in cash and U.S. Treasury bills at the end of the second quarter, down from $397.4 billion at the end of the first quarter, and became a net buyer of stocks for the first time in 14 quarters, net buying nearly $20 billion in stocks, including a $10 billion investment in Alphabet.
12:56
Bloomberg, citing sources: Apple's major iPhone design upgrade plan for 2027 has not been canceled; a new glass-designed iPhone Pro has entered late-stage testing.
This refutes earlier reports from Jefferies analysts that Apple had canceled plans for an "all-glass iPhone," which had put pressure on Apple's stock price. According to sources, Apple still plans to launch a new glass-centric design for the iPhone's 20th anniversary, featuring a design with glass on the front and back, extending to the sides, while retaining a metal frame in the middle.
12:48
AIG CEO Eric Andersen Says AI Data Center Boom Is 'Maxing Out' P&C Insurers
American International Group Inc. Chief Executive Officer Eric Andersen stated that while the artificial intelligence buildout presents a "great opportunity" for the insurance industry, it is also pushing property and casualty providers to their limits.
12:48
Coinbase-backed Flowdesk secures full broker-dealer license in Dubai with VARA approval, following its MiCA authorization in France
12:46
AI cloud company CoreWeave announced its second-quarter earnings after market close today. Analysts estimate revenue of approximately $2.56 billion.
CoreWeave (NASDAQ:CRWV) is set to announce its second-quarter earnings after the market closes today, followed by a conference call at 5 PM ET. Analysts generally expect the company to report revenue of approximately $2.56 billion, more than double the figure from the same period last year, along with an estimated loss per share of about $1.40. Additionally, traders on the prediction market Kalshi are betting that management will mention topics such as NVIDIA, Anthropic, Meta, storage, and government contracts during the earnings call.
12:46
U.S. government appeals trade judge's order for universal tariff refunds, arguing it overstepped authority
Government lawyers filed an opening brief on Monday with the U.S. Court of Appeals for the Federal Circuit, challenging a Court of International Trade (CIT) judge's February order. The CIT judge had directed the U.S. Customs and Border Patrol (CBP) to issue refunds to all companies that paid tariffs deemed illegal, even those that did not file a lawsuit. The government argues this constitutes an overreach of authority, citing a June 2025 Supreme Court decision that limited the use of universal injunctions. CBP has already processed and certified $100 billion in refunds, but the appeal concerns companies for whom the administrative refund process is no longer available.
12:46
Analysis suggests Nvidia (NVDA) could reach $325 by 2027, citing strong Q1 FY27 revenue of $81.6 billion and catalysts like the Vera Rubin launch and a $500 billion AI financing platform.
Despite trading 28% below its 52-week high, Nvidia posted Q1 FY27 revenue of $81.6 billion, an 85% year-over-year increase, with Q2 FY27 guidance set at $91 billion. The analysis notes Nvidia's current valuation at 26x forward earnings with a PEG ratio of 0.62 appears cheap relative to its growth rate. Key catalysts for the $325 target include the successful launch of the Vera Rubin platform, sustained Data Center growth, and the recently announced $500 billion AI infrastructure financing partnership with firms including Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR. However, shares slipped 2.86% in the most recent session following the financing announcement, as investors grapple with the complexity of interconnected deal structures. The average analyst target is $302.83.
12:45
Coupang's stock price has fallen 31% year-to-date, but Barclays analysts expect its stock price to rise by approximately 85%, with a target price of $30.
Coupang's stock price has fallen 31% year-to-date, with Q2 seeing an operating loss of $556 million due to a $410 million administrative fine in Korea and currency headwinds. However, Barclays analyst Jiaming Liang maintained his "Overweight" rating and $30 price target, arguing that the fine is a one-time event and Coupang's 10% growth at constant exchange rates supports his bullish thesis. The price target implies approximately 85% upside for Coupang's stock.
12:41
Barclays: Picky Bond Buyers Will Keep Yields at Multi-Year Highs
According to Barclays, the shift in the U.S. Treasury buyer base towards value-oriented mutual funds, households, and other private investors has helped push the 30-year yield to multi-decade highs.
12:37
OpenAI's Brad Lightcap Says He Will Be Leaving OpenAI
12:36
NIQ Global Intelligence stock surges 37% after Q2 earnings beat forecasts and full-year outlook raised
NIQ Global Intelligence (NYSE: NIQ) reported non-GAAP earnings per share of $0.27 on sales of $1.12 billion in Q2, exceeding average analyst targets by $0.07 and $10 million respectively. Following the stronger-than-anticipated results, the company increased its full-year sales growth forecast to between 7.1% and 7.4% (previously 6.4%-6.7%), and adjusted earnings per share guidance to between $1.08 and $1.12 (previously $0.95-$0.99).
12:36
NYPD investigates gold bar scam that has stolen over $100 million from retirees
The New York Police Department's investigation, which began in May 2024, involves the Department of Homeland Security, the IRS, and other state law enforcement agencies, as authorities believe the scheme is not limited to New York. The FBI has also warned about similar "gold courier" scams, with its 2024 Internet Crime Complaint Center report recording 525 complaints and reported losses totaling $219 million nationwide. Victims are often persuaded to convert their savings into cash or precious metals for "protection" by scammers posing as tech support or government officials.
12:36
Financial commentator Cramer said Intel may be prepared, and called NVIDIA's funding push "very positive."
12:36
Lake Victoria Gold announces maiden mineral resource estimate for Tembo project in Tanzania, with nearly 580,000 ounces of gold reserves.
Lake Victoria Gold Ltd. (TSXV:LVG) announced its maiden NI 43-101 compliant mineral resource estimate for its wholly-owned Tembo Gold Project in northwest Tanzania, outlining nearly 580,000 ounces of gold across three deposits. Of this, the Ngula 1 deposit accounts for approximately 331,000 ounces and is the most advanced target on the project. The Tembo Project is the company's second major development asset, following its permitted Imwelo Project, and is adjacent to Barrick Gold's Bulyanhulu mine.
12:35
Sea Limited (SE) Q2 revenue of US$7.8 billion exceeded expectations, and its stock price once surged by 14.8% during intraday trading on Tuesday.
Sea Limited announced its second-quarter earnings, with revenue increasing by 48% year-over-year to $7.8 billion, surpassing analysts' expectations of $7.1 billion. Although adjusted earnings per share were $0.70, lower than the anticipated $0.86, investors welcomed the revenue growth and strong performance across all business segments. Specifically, the e-commerce division Shopee saw revenue grow by 45% to $5.1 billion, the digital entertainment division Garena by 41% to $697 million, and the fintech division Monee by 58% to $1.2 billion.
12:35
Bank of America reiterates Buy rating on Onsemi (ON) but slashes price target to $120 from $138, despite the chipmaker reporting Q2 sales and profit surge
Bank of America analyst Vivek Arya maintained a "Buy" rating on Onsemi but lowered the firm's price objective, citing a lower valuation multiple (20 times estimated 2028 earnings, down from 32 times 2027 earnings) despite raising earnings estimates. Onsemi's Q2 revenue rose 9% year-over-year to $1.604 billion, with non-GAAP diluted earnings per share increasing to $0.74. The company's AI data-center business is its fastest-growing operation, with management expecting AI data-center revenue to more than double in 2026.

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