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8/13
16:16
The AI big-data company's CEO Ali Ghodsi told TechCrunch that investors showed $15 billion of interest, prompting the larger raise. The round was led by Coatue, with participation from Blackstone, MGX, T. Rowe Price, and new investor Sixth Street Growth. Ghodsi cited the high costs of AI development, multi-billion dollar cloud commitments, and M&A activities as reasons for seeking capital.
16:15
Apple CEO Tim Cook and U.S. Commerce Secretary Howard Lutnick jointly unveiled a new manufacturing facility in Houston, Texas, on Wednesday. The factory will be responsible for producing Mac Mini desktop computers and assembling Apple's AI servers. Cook stated that Apple has invested hundreds of millions of dollars in the facility. This factory opening is part of Apple's "Made in America initiative" and comes as Cook is about to step down as CEO to become executive chairman, with future responsibilities including interacting with global policymakers.
16:13
Bloomberg analyst Paula Seligson notes that "Software as a Service" (SaaS) companies are facing a "SaaSpocalypse" risk as artificial intelligence replaces software functions such as data visualization. Investors are currently assessing the reality of this risk and which companies are most vulnerable.
15:59
Senior Research Economist Sree Kochugovindan from Aberdeen noted that despite inflation remaining elevated and outpacing wage growth, the recent US inflation report was a "nonevent." He emphasized that more economic data is forthcoming, and the upcoming Jackson Hole symposium will be critical for gauging the Fed's next moves.
15:56
Gargi Chaudhuri, BlackRock's Head of Investment and Portfolio Strategy for the Americas, stated that the U.S. government sold 30-year bonds at the highest interest rate in 25 years, reflecting ongoing market sell-offs and fueling speculation that the U.S. will further shift towards issuing short-term bonds.
15:31
Former House Financial Services Committee chairman Patrick McHenry called Thursday's bond sale a "wake up sign" for the country on government debt and deficit, urging action on overspending.
15:23
The new mode, currently in preview and powered by a partnership with chipmaker Cerebras, aims to attract enterprise users by offering significantly faster processing. OpenAI suggests it can be deployed in corporate workflows such as incident response, customer service, financial market analysis, and e-commerce.
15:23
IBM announced its partnership with OpenAI to bring the AI company’s models and tools to more enterprise customers. Under the agreement, IBM will establish a dedicated OpenAI practice within IBM Consulting and train and certify tens of thousands of consultants on OpenAI’s technologies over the next several months. The partnership aims to jointly market AI offerings and develop industry-specific solutions, integrating OpenAI's latest models like GPT-5.6 into IBM Consulting Advantage.
14:53
The incident highlights ongoing threats from malicious ads. In April, crypto security nonprofit Security Alliance (SEAL) stated it had blocked 356 malicious Google ad URLs over several weeks.
14:41
Donald Trump posted on Truth Social that the U.S. Court of International Trade ruled today that the President has the authority to abolish the so-called "de minimis exemption." He pointed out that this exemption previously allowed foreign shippers to send packages worth up to $800 to the U.S. duty-free, becoming a huge loophole for tariff fraud, fentanyl smuggling, and counterfeit goods entering the country. Donald Trump estimated that this exemption alone resulted in a loss of approximately $10.8 billion in tariff revenue for the U.S. in 2024. He stated that importers had filed a lawsuit regarding this, but lost today.
14:32
The US Commodity Futures Trading Commission (CFTC) will hold a meeting for its Innovation Advisory Committee on Aug. 20 to address regulation related to crypto assets, artificial intelligence and prediction markets, joining the US Securities and Exchange Commission (SEC) in exploring crypto regulations without waiting for the CLARITY bill.
14:31
On Thursday, August 13, US Eastern Time, Google announced the launch of its latest model in the Gemini series, 3.7 Flash. This model focuses on programming, agents, and complex workflows, and is hailed by Google as the "smartest working model" to date, with significant improvements in code debugging and production-grade code generation. Google also announced that by the end of this year, the introductory price for Gemini 3.7 Flash will be $0.75 per million input tokens and $3.75 per million output tokens, both half the original price of Gemini 3.6 Flash. However, the market's eagerly anticipated flagship model, Gemini 3.5 Pro, still has no clear launch date, raising questions among investors about Google's AI development roadmap.
14:03
Charles Yang, who previously served as an AI for Science Fellow at Renaissance Philanthropy and an AI policy Advisor at the U.S. Department of Energy, began his role last month. He will work with the institute's research teams to surface data on frontier AI. This appointment comes as Anthropic continues its rapid hiring pace, including the recent addition of OpenAI co-founder Andrej Karpathy, ahead of a reported October IPO with a potential $2 trillion valuation.
13:58
United Wholesale Mortgage (UWM) lost $603.2 million on interest rate derivative positions during the three months of this spring, resulting in a net loss of $451.9 million in the second quarter. The company has suspended its dividend and announced a $2.05 billion capital injection from Oaktree Capital Management, of which $1.65 billion will be in preferred stock with an annual cash return of 10%, rising to 13% if not paid in cash. In addition, Oaktree has gained control over UWM's management and board of directors, and has the right to force UWM to repurchase its shares after seven years, guaranteeing a minimum return of $600 million. Following the announcement, UWM's stock price fell 35% on August 6, closing at $1.19.
13:57
Bank of America (BofA) reiterated its "buy" rating and $140 price target on CoreWeave (CRWV) stock, implying a 30% upside even after the stock's after-hours gain, following the company's strong Q2 2026 earnings report. The bank raised its CoreWeave sales forecast for 2026 from $12.51 billion to $12.84 billion, for 2027 from $25.2 billion to $25.96 billion, and for 2028 from $39.89 billion to $41.03 billion. However, BofA lowered its earnings per share (EPS) estimates for CoreWeave, projecting a loss of $3.93 for 2026 (previously $3.54), a loss of $0.89 for 2027 (previously $0.54), and an EPS of $2.68 for 2028 (previously $3.16), due to anticipated significant cuts to profitability from borrowing to support a larger revenue base.
13:52
Russian President Vladimir Putin visited the southern Kuril Islands on Thursday for the first time, capitalizing on an unstable moment in relations with Japan. This comes as Japanese Prime Minister Sanae Takaichi has shifted her diplomatic focus toward meeting the country's energy needs.

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