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UK starts probe into Amazon's AI partnership with Anthropic

Nvidia Has Lost $900 Billion Even as AI Spending Plans Ramp Up, Foodstuffs to pay penalty of $3.25m for anti-competitive covenants, High Court rules, China chipmaker SMIC beats Q2 estimates despite steep profit fall, UK starts probe into Amazon's AI partnership with Anthropic, Indian Households See Inflation Accelerating in Coming Months and Plot to attack Taylor Swift show in Austria linked to Islamic State.

August 09, 2024

Good Morning,

Nvidia Has Lost $900 Billion Even as AI Spending Plans Ramp Up, Foodstuffs to pay penalty of $3.25m for anti-competitive covenants, High Court rules, China chipmaker SMIC beats Q2 estimates despite steep profit fall, UK starts probe into Amazon's AI partnership with Anthropic, Indian Households See Inflation Accelerating in Coming Months and Plot to attack Taylor Swift show in Austria linked to Islamic State.

Let's jump in.

Before The Bell

Markets

  • Stocks Climb as Jobs Data Quell Economic Jitters: Markets Wrap (BBG)

Earnings and Data

  • Planemaker Embraer beats quarterly profit expectations (RT)

  • China chipmaker SMIC beats Q2 estimates despite steep profit fall (RT)

News Summary

  • Wall Street slumps again, led by falling tech stocks (Stuff)

  • Auckland property: 44% of apartments sell for loss (Stuff)

  • Foodstuffs to pay penalty of $3.25m for anti-competitive covenants, High Court rules (Stuff)

  • Up to 100 job losses proposed at Spark tech company CCL (Stuff)

  • Plot to attack Taylor Swift show in Austria linked to Islamic State (RT)

  • How the Harris surge scrambled Trump's battle plan (RT)

  • New Boeing CEO seeks to restore trust, stay close to production (RT)

  • Novavax cuts 2024 revenue forecast on lower COVID vaccine sales (RT)

  • UK starts probe into Amazon's AI partnership with Anthropic (RT)

  • How chip giant Intel spurned OpenAI and fell behind the times (RT)

  • Lawyer fees for class action against BHP top $680 million (AFR)

  • Buffett’s Japan Holdings Become ‘Bargain’ After Stock Meltdown (BBG)

  • Ukraine’s Surprise Incursion Into Russia Turns the Tables on Putin (BBG)

  • Nvidia Has Lost $900 Billion Even as AI Spending Plans Ramp Up (BBG)

  • Indian Households See Inflation Accelerating in Coming Months (BBG)

  • Google Taps AI to Revamp Costly Health-Care Push Marred by Flops (BBG)

Deal Flow

Investments / M&A

  • Houlihan Lokey Agrees to Acquire Chicago Boutique Waller Helms (BBG)

Equity Raises

  • Walgreens Kicks Off $600 Million Sale of First Junk Bond (BBG)

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