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8/24
11:13
Grant Thornton Australia has completed a transaction to join the Grant Thornton Advisors international platform, with its CEO, Said Jahani, also taking on the role of CEO for the platform's Asia Pacific region. This integration connects the Australian business with nearly 20 associated firms globally and adds 6 offices and 1,500 staff to the platform's Asia Pacific operations.
11:12
MP Materials (NYSE: MP) reported Q2 revenue of $108 million, an 89% increase year-over-year, with adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) swinging from a $12.5 million loss to a positive $28.5 million. The company also received $17.6 million in price-protection income from the Pentagon, as market prices for neodymium-praseodymium (NdPr) fell below the agreed floor. MP Materials has shifted its sales strategy, generating $95 million from NdPr oxide and metal revenue with zero revenue from concentrate sales, and its second magnet factory is on track for commissioning in 2028.
11:07
Guardant Health (GH) stock tumbled Monday after losing a patent battle against privately held TwinStrand Biosciences and the University of Washington. A judge ordered Guardant to pay more than $245.2 million in damages, accrued royalty, and interest, and will also have to pay a 6% royalty on sales of key products, including its Guardant360 and Shield tests.
11:06
Chris Churchman, head of Goldman Sachs' digital platform Marquee and co-chair of the global banking and markets AI working group, stated that if Wall Street outsources reasoning to AI models, a future generation of financial professionals risks losing the ability to reason from first principles, posing a "huge danger" to the industry. He emphasized that banks need to strike a balance between using AI and preserving Wall Street's apprenticeship culture.
11:05
NVIDIA Senior Director Dion Harris stated that Groq racks will be deployed alongside Vera CPUs and Rubin GPUs at new cloud provider Nebius, going live later this year. NVIDIA acquired the assets of chip startup Groq for $20 billion last December, marking its largest acquisition ever. Groq chips are manufactured by Samsung, while NVIDIA's GPUs are manufactured by TSMC. NVIDIA packages 256 individual Groq 3 chips into its LPX rack, claiming its Groq 3 LPX rack can deliver 3,400 tokens per second. Low-latency inference is increasingly important in AI, especially in coding, to ensure the responsiveness of AI agents.
11:04
OpenAI's new product, ChatGPT Work, launched last month at $20 per month, is designed to connect large language models (LLMs) with the digital workflows of various white-collar professions, including accountants, investors, and doctors. The initiative seeks to enable AI agents to autonomously complete multi-step projects, a functionality previously more common among software engineers using tools like Codex. An internal study in June revealed that while 98% of OpenAI employees used Codex, only 17% of organizational subscribers and less than 1% of individual subscribers adopted the agentic coding tool, highlighting the company's challenge in broadening AI agent adoption beyond technical users.
11:03
Intel, AMD, and Taiwan Semiconductor shares fell 5%, 4%, and 3% respectively on Monday, as traders trimmed exposure to chip stocks two sessions before NVIDIA reports its second-quarter fiscal 2027 results on Wednesday. The iShares Semiconductor ETF (SOXX) was down 4%, indicating a sector-specific de-risking rather than a general tech pullback.
11:02
Taiwanese prosecutors have indicted nine individuals, including two employees from Super Micro Computer (SMCI)'s Taiwan division and one employee from NVIDIA's Taiwan division, on charges of illegally exporting 74 AI servers to China through forged documents. The market interpreted this case as individual misconduct by employees rather than a company-level failure in export controls. Consequently, NVIDIA and Hewlett Packard Enterprise (HPE) stock prices remained stable, while Super Micro's stock fell by 7% and Dell's by 2%. Prosecutors emphasized that the indictments were solely against individuals, and Super Micro and NVIDIA themselves were not charged.
11:02
Navellier stated that despite New York instituting a one-year moratorium on large data centers (consuming 50+ megawatts) to refine regulations, the overall data center boom remains strong. He noted that the number of data centers in the U.S. is still set to nearly double, with 3,969 new data centers planned and 802 currently under construction. Data center construction rose 7% in June to $68.3 billion, a 46% year-over-year increase. Navellier projects the order backlog for data centers will persist through 2029 to 2030.
11:02
The fund paid its first monthly dividend of $0.799235 per share on August 7th ET, representing an annualized yield of approximately 18.49% based on the Bitcoin trading price of about $64,484 at that time. BITA generates income by holding Bitcoin and selling covered call options, offering a new option for investors seeking Bitcoin exposure and wishing to earn income. The fund's assets have grown to $967.98 million.
11:01
State Farm announced it will return $5 billion to auto policyholders through a one-time dividend and will lower auto insurance rates in multiple states. As a mutual company, State Farm's underwriting business transitioned from years of losses to a massive surplus, meaning the premiums collected far exceeded the claims and expenses paid. Therefore, by law, the excess profits must be returned to policyholders.
10:53
The consortium, which includes Amwins Group, Dragoneer Investment Group, and KKR, will acquire all outstanding Steadfast shares for A$6 each in cash. This represents a 51.9% premium to Steadfast's closing price on June 9, 2026. Steadfast's board has unanimously endorsed the scheme, with completion anticipated by December 2026.
10:53
The engineering, procurement, construction, and installation contract covers Package 4 of ADNOC's Umm Shaif Integrated Gas Cap and Surface Pressure Boosting Project. McDermott and its Qingdao McDermott Wuchuan consortium will construct and install a new jacket and topside while modifying existing offshore infrastructure. This investment is part of ADNOC's broader strategy to expand its gas business and become a top-five global gas and LNG player by 2035, with first production targeted for 2030.
10:52
The analysis points out that NVIDIA's current stock price leaves almost no room for error, and customers like Microsoft and Meta are developing competitive AI chips, which could threaten NVIDIA's near-monopoly in high-end AI chips. NVIDIA previously projected quarterly revenue of $91 billion to be announced this week, and market focus will also be on its performance guidance for the current quarter.
10:50
Donald Trump stated this week that Hyperliquid, a crypto-native exchange built around perpetual futures, is likely to comply with U.S. regulations. These remarks have reignited a fierce debate within the industry regarding the regulation of perpetual futures. Perpetual futures, which allow traders to leverage almost any asset by 10x or 50x without an expiry date, are currently expanding from crypto markets to commodities, indices, and single stocks. Wall Street is closely watching how the U.S. Commodity Futures Trading Commission (CFTC) will classify perpetual futures. If classified as swaps, it would lead to a 5-day margin requirement replacing the current 1-day rule, which could effectively eliminate 50x leveraged trading for retail investors in the U.S. market.
10:40
The sale was executed pursuant to a pre-arranged Rule 10b5-1 trading plan. Following the transaction, McDonough continues to directly hold approximately 819,000 shares of Rivian stock, representing approximately 0.0675% of the company's outstanding shares.
10:35
Lookonchain monitoring shows that as of August 24, Bitcoin ETFs had a single-day net inflow of 3,598 Bitcoin (approximately $282.25 million), with a cumulative net inflow of 26,651 Bitcoin (approximately $2.09 billion) over the past 7 days. During the same period, Ethereum ETFs had a single-day net inflow of 68,135 Ethereum (approximately $169.77 million), with a cumulative net inflow of 283,932 Ethereum (approximately $707.47 million) over the past 7 days.
10:29
The average rate for a 30-year fixed mortgage in the U.S. was 6.71% as of August 24, according to Bankrate's lender survey. This rate is up from the beginning of 2026 and higher than the 2025 average of 6.66%. Persistent inflation and Treasury yields have kept upward pressure on mortgage pricing.
10:19
The plant, located in Kalasar, is part of a larger 460MW firm and dispatchable renewable energy (FDRE) project and includes a 115MW-hour advanced battery energy storage system (BESS). This commissioning brings Tata Power Renewable Energy's total renewable utility capacity to 12.4GW.
10:19
Gerstner holds 1.9 million shares of Snowflake, accounting for 4.99% of his portfolio; Wood, on the other hand, established a new position, holding 269,539 shares. For Robinhood, Gerstner maintained a holding of 899,691 shares, while Wood reduced her stake by 13% to approximately 5.24 million shares, though Robinhood remains one of her larger holdings, accounting for 3.41%.

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