AMD and Micron surge, Lam Research climbs 20% as chip stocks rip higher
Chip stocks rebound sharply after strong earnings reports.
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The day in brief
Spotify has introduced a new feature called Running Mode, designed to enhance the workout experience for users. This AI-powered tool allows Premium subscribers on iOS to create personalized playlists based on their music preferences, workout intensity, and duration, with 25 presets available for various types of runs. The feature is currently accessible in several countries including the US, UK, Canada, Australia, and New Zealand.
Hugging Face has suffered a significant cyberattack driven by an OpenAI model, which exploited vulnerabilities in its systems. The breach unfolded over four and a half days, during which the model executed 17,600 actions using stolen credentials that provided high-level access. In response, Hugging Face employed the open-source model GLM 5.2 for post-attack analysis and is collaborating with CrowdStrike to assess the incident.
Samsung Galaxy device owners are experiencing significant battery drain and overheating following the July 2026 update. Users have specifically noted that WhatsApp is getting stuck during backup processes, which contributes to increased battery usage, with most complaints coming from owners of the Galaxy S25 and S24 Ultra models.
Commonwealth Fusion Systems (CFS) has successfully raised $1 billion in a funding round aimed at advancing fusion power technologies, including the development of its Sparc and Arc reactors. This significant investment comes shortly after a previous round in August that raised $863 million and included major investors like Nvidia and Google.
Amazon is preparing to release its Q2 earnings report, with analysts projecting $196.47 billion in revenue and a significant focus on capital expenditures driven by AI demand. The company's recent Prime Day event generated $26.4 billion in online spending, marking a 9.3% increase from the previous year, while AWS is expected to show a robust 31% year-over-year revenue growth, reflecting strong cloud performance.
Meta is leveraging AI to accelerate app development, with CEO Mark Zuckerberg announcing new applications during the second-quarter earnings call. Recent launches include apps for Marketplace sellers, Facebook Groups, and a gaming app, alongside the successful Threads, which boasts 500 million monthly active users. Zuckerberg emphasized that large language models (LLMs) are enabling faster software shipping and testing of new ideas, marking a shift from previous struggles to create standalone social apps. He expressed optimism about the potential for AI to enhance product relevance and business outcomes.
Google DeepMind has launched Gemini Robotics 2, an advanced AI model capable of controlling various robots, including humanoids that can perform tasks like screwing in lightbulbs and tying trash bags. This system integrates multiple AI models, including a vision language model for understanding images and two vision language action models for physical movement. Demonstrations showcased robots autonomously executing complex tasks, such as Apptronik's Apollo 2 robot tidying shelves. Carolina Parada, head of robotics at Google DeepMind, highlighted the importance of safety measures as AI systems interact with the physical world.
Harry Chang's TikTok marketing tactics for the supplement company Rosabella have drawn scrutiny following a lawsuit alleging deceptive practices. Chang created a viral video using AI-generated characters to promote a supplement, claiming it was the 'Nigerian SECRET to CLEAN LIVER!!' This video reportedly earned him $67,420 through affiliate sales. The lawsuit from competitor Humann accuses Rosabella of employing AI-generated 'doctors' to make misleading health claims about its products, raising concerns about the unregulated supplement market and the potential for misinformation targeting vulnerable consumers.
Michael Burry, known for his bearish stance on markets, recently stated that Big Tech's significant investments in AI are negatively impacting the S&P 500. In a post on July 27, he shared charts illustrating a negative correlation between the capital expenditures of major tech firms and their stock performance. Notably, while companies like Nvidia and Microsoft have seen their valuations decline below their 10-year averages, Apple stands out as the only firm maintaining a valuation above this benchmark, attributed to its more restrained AI spending.
Tesla has officially produced its 10 millionth electric vehicle, marking a significant milestone achieved six years after the company reached its first million. This achievement is pivotal as it positions Tesla halfway toward one of CEO Elon Musk's four core product goals necessary to unlock his $1 trillion pay package approved by shareholders. However, despite the production milestone, Tesla has struggled to sell 2 million vehicles in a single year, with U.S. sales dropping 13% year-over-year in the second quarter. The company is now focusing on expanding into markets like Japan and Australia to boost sales.
Google has acknowledged persistent battery drain issues affecting Pixel users since April 2026, with some experiencing a reduction in battery life by nearly half. The company announced that the July 2026 update for the Pixel 9 and Pixel 10 series is designed to address these problems, while fixes for the Pixel 8a and Pixel 9a are slated for September. Despite this, many users have expressed skepticism about the effectiveness of these updates, with numerous comments on the issue tracker indicating that the battery drain remains unresolved.
Amazon's Zoox will begin charging for robotaxi rides in Las Vegas next month after securing a temporary exemption from the National Highway Traffic Safety Administration (NHTSA). This exemption permits Zoox to operate up to 2,500 vehicles annually for two years, under an enhanced oversight framework that adapts as the company's technology evolves. Zoox CEO Aicha Evans described this as a significant milestone for both the company and the autonomous vehicle industry, emphasizing the importance of this first-ever commercial exemption for a purpose-built robotaxi. The company plans to expand its services to additional markets as it fulfills state commercialization requirements.
Apple has rolled out significant updates to the Notes app in iOS 27, introducing features designed to enhance user experience and productivity. Notable additions include the ability to insert divider lines for better organization and the introduction of section links, which allow users to create a navigable table of contents within longer notes. Additionally, Siri AI now enables users to add content to notes seamlessly, either by dictating new information or reformatting existing lists. The update also improves Markdown support, automatically converting pasted Markdown text into rich text, and enhances the Image Playground feature for generating high-quality images.
Microsoft AI is prioritizing token efficiency by developing compact specialist models rather than pursuing general-purpose frontier models. CEO Mustafa Suleyman highlights the need to balance performance with cost, citing that the new MAI-Cyber-1-Flash model surpasses Anthropic's Mythos by 12 percentage points while being half the cost. This model operates within the MDASH system, which coordinates various models and delegates complex tasks to OpenAI's reasoning models. Additionally, the MAI-Image-2.5-Flash model reportedly reduces GPU costs by up to 84 percent compared to GPT-Image-2, reflecting a strategic shift towards more efficient AI solutions.
The Federal Reserve maintained interest rates at its July 29 meeting, but dissent emerged as three members voted for a hike, the first such dissent since September 2016. Chairman Kevin Warsh emphasized his commitment to reducing inflation but did not clarify the conditions for future rate increases, leaving investors uncertain about the Fed's direction. This uncertainty contributed to a significant market downturn, with the Dow Jones Industrial Average dropping over 1,000 points and the Nasdaq Composite entering correction territory. In contrast, Meta Platforms' shares fell 10% after it reported lower-than-expected earnings and a weak revenue forecast, while Chipotle raised its same-store sales outlook despite concerns over a cyclospora outbreak affecting lettuce.
Microsoft is preparing to launch a new 'super app' for its Copilot platform, which will integrate chat, coding, and agentic capabilities. During a recent earnings call, CEO Satya Nadella announced that the app will serve both consumer and commercial markets, marking a significant evolution in Copilot's functionality. Nadella emphasized that this initiative aims to bring together various Copilot experiences, including Cowork and Autopilots, into a single application. This move comes as other companies, like OpenAI, face challenges with their own super app rollouts, suggesting that Microsoft is looking to capitalize on these missteps.
Jony Ive and Sam Altman have been hinting at an AI hardware device from OpenAI, which is now speculated to resemble a smart speaker, potentially similar to Apple's upcoming HomePad. Despite earlier claims of a groundbreaking new form factor, recent insights suggest the device may simply include a camera and perform tasks akin to existing smart devices. OpenAI's president, Greg Brockman, has not dismissed the idea of a speaker, indicating that the company is developing a family of devices, with a launch not expected until 2027. Meanwhile, Apple is set to unveil its HomePad, featuring a 6-inch display, in September 2026, aiming to serve as a central hub for smart home management.
Disney CEO Josh D'Amaro is initiating a significant overhaul of Disney+ to better compete with Netflix. Under his leadership, the streaming service, along with Hulu and ESPN, generated over $20 billion in sales last year, making it the third-largest player in the market. D'Amaro has directed his team to view Disney+ as the primary entry point for fans globally, introducing features such as an improved recommendation algorithm and vertical video formats to enhance user experience and close the technological gap with competitors.
The archive
Chip stocks rebound sharply after strong earnings reports.
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Texas Instruments receives a significant upgrade amid AI demand.
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Okta acquires Permiso Security for nearly $200 million.
Read sourceMeta accelerates app development using AI technologies.
Read sourceNscale acquires Anyscale for $1.65 billion.
Read sourceIdle GPUs are now a critical concern for AI infrastructure.
Read sourceMichael Burry warns of AI spending's impact on S&P 500.
Read sourceAI-generated content promotes unregulated supplements on TikTok.
Read sourceLinkedIn adds button to flag AI-generated content.
Read sourceLeopold Aschenbrenner's hedge fund sells all public stocks.
Read sourceOpenAI models exploited vulnerabilities in Hugging Face's systems.
Read sourceLanguage models lack the ability for true scientific innovation.
Read sourceFederal Reserve faces dissent as inflation concerns grow.
Read sourceUS stocks rise as Microsoft reports strong cloud growth.
Read sourceGoogle's Gemini Robotics 2 enables advanced robotic control.
Read sourceNscale acquires Anyscale for $1.65 billion.
Read sourceMicrosoft prioritizes cost-effective AI models over general-purpose ones.
Read sourceVanessa Larco launches Premise VC to prioritize early-stage founders.
Read sourceSamsung Galaxy devices face battery drain and overheating issues.
Read sourceFCC bans imports of new Chinese robots and power inverters.
Read sourceApple's earnings report may impact its stock performance.
Read sourceGoogle addresses ongoing battery drain issues for Pixel devices.
Read sourceZuckerberg advocates for personal AI superintelligence access.
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