Nvidia acquires open-source AI platform Hugging Face for $12.9B
The deal boosts Nvidia's open-source AI strategy and positions it to compete with OpenAI and Anthropic.
Ft · +4 outlets
Iran strikes Kuwait as oil tops $96, Trump says hostilities won't last long
Oil prices surged more than 7% for the week after Iran fired missiles at Kuwait, escalating Middle East conflict.
CNBC · +1 outlets
Fed's Waller indicates support for holding rates steady at September meeting
Waller's remarks contrast with Chairman Kevin Warsh's Jackson Hole speech, shifting market expectations.
CNBC · +2 outlets
Billionaire Leon Black sues House Oversight Committee over Epstein probe subpoenas
Black's attorneys argue NDAs sought by the panel are unrelated to his dealings with Jeffrey Epstein.
CNBC · +3 outlets
Revolut wins provisional US banking licence from OCC
The approval is a milestone for the UK-based fintech's American expansion plans.
Ft · +1 outlets
NBA suspends Clippers owner Steve Ballmer for one year in Kawhi Leonard salary cap probe
The NBA also fined the Clippers $30 million and stripped five first-round draft picks.
CNBC · +1 outlets
Uber cuts 3,300 jobs to accelerate robotaxi investments
CEO Dara Khosrowshahi said the cuts will make Uber faster and smarter as it spends billions on autonomous vehicles.
Fortune · +9 outlets
Elon Musk's America PAC reveals key Senate targets as midterm spending begins
Musk's PAC is spending in key Senate races including Texas and Maine ahead of the midterms.
CNBC
Microsoft to start disclosing Azure quarterly revenue for first time
The change provides more clarity about Microsoft's cloud business competing with AWS.
CNBC · +1 outlets
Brent oil above $96 after Iran fires missiles at Kuwait
Oil has gained more than 7% this week as US and Iran trade military strikes.
CNBC · +1 outlets
Tesla teases 'no steering wheel, no pedals' Cybercab ahead of long-awaited update
Tesla first unveiled the Cybercab almost two years ago and fans have been waiting for more details.
CNBC · +7 outlets
NFL set for first-ever game in Melbourne, Australia in international expansion push
The San Francisco 49ers and LA Rams will play the first NFL game in Australia.
CNBC
Feminist icon Gloria Steinem dies at 92
The Ms. Magazine co-founder was one of the most influential voices in the women's movement over six decades.
Fortune · +1 outlets
Average 401(k) and IRA balances hit record highs but more workers are raiding accounts, Fidelity says
Retirement account balances rose in Q2 amid market gains, but leakage from early withdrawals is increasing.
CNBC · +1 outlets
Private payrolls rose by 38,000 in August, less than expected, ADP reports
August was the smallest gain since January, reflecting a broader slowdown in the labor market.
CNBC
Broadcom stock falls as strong results fail to satisfy investors
Wall Street focused on the company's forecast, with one analyst saying management may be conservative.
finance.yahoo · +2 outlets
Yen surges past 156 to the dollar as traders bet on Japan interest rate rises
The currency jumped suddenly overnight on expectations of higher Japanese rates.
Ft
Dutch central bank moves gold bars out of US and Canada, citing crisis preparedness
DNB said gold stored with the Bank of England is more readily tradable in a severe crisis.
CNBC · +1 outlets