BUSINESS

Elon Musk reverses his stance on Anthropic, acknowledging them as AI leaders. Amazon strengthens its partnership with Anthropic, investing billions and securing long-term cloud commitments.

Apple has classified the iPhone X as obsolete, ending official repair support for the device that introduced Face ID and OLED displays, marking a significant shift in Apple's product lifecycle.

CoreWeave's Q2 results show significant revenue growth, sparking debate among investors about its AI infrastructure expansion. Analysts are divided on whether the stock remains a buy or is overextended.

Elon Musk's 2025 Tesla compensation package, valued at $158.3 billion, highlights a 2.5 million times disparity with median employee pay, sparking debate on executive compensation and economic inequality.

SpaceX shares fell as investors assessed its AI investments and Starship progress. Despite recent gains, the stock remains volatile amid ambitious growth plans and substantial capital expenditures.

The FTSE 100 index closed lower for the fifth consecutive session, driven by declines in mining and pharmaceutical stocks, despite initial gains from positive U.S. inflation data.

Google Gemini users reported widespread disruptions on Friday, affecting the AI assistant and its integrations across Google's ecosystem. The cause and resolution timeline remain unclear as of Friday afternoon.

Target's website and app faced access issues, with outage reports rising. Monitoring services showed mixed results, and Target has yet to issue a detailed public statement.

The Dow Jones dipped slightly as the S&P 500 reached a record high, driven by cooling inflation data and mixed company earnings, while global markets showed positive momentum.

Google's Gemini app has reached 1 billion monthly users, becoming the fastest-growing product in Google's history. The AI assistant's growth challenges ChatGPT, with new features enhancing user engagement.

Tesla shares rose nearly 3% after reporting record vehicle deliveries and advancements in AI and autonomy, despite facing profitability challenges and increased capital expenditures.

Asustek Computer's shares surged nearly 10% after reporting second-quarter earnings that doubled from last year, driven by strong AI server demand and revenue growth, outperforming analyst expectations.

Accelerant Holdings' stock surged 43% after reporting second-quarter earnings and revenue that exceeded expectations, highlighting the company's growth potential and capital-light business model in the specialty insurance sector.

Elon Musk and Mo Gawdat predict that money may become irrelevant within a decade due to AI and robotics, though they differ on whether this shift will be liberating or controlling.

Cleanaway Waste Management Ltd's shares rose sharply after receiving a $9.4 billion takeover offer from EQT Infrastructure, highlighting the company's strong financial performance and strategic appeal.

Australia's ASX 200 index fell for a third day, driven by Commonwealth Bank's share decline despite profit growth, amid broader investor caution during the August reporting season.

Chick-fil-A launches a Chicken & Waffles Sandwich and S'mores beverages nationwide on August 24, celebrating its 80th anniversary with nostalgic flavours and innovative twists.

SpaceX shares rose 6.92% following a successful Starlink launch and strong earnings report, highlighting growth in satellite services and AI investments, despite concerns over capital spending and share unlocks.

Metronet customers across 16 states experienced internet outages, with reports surfacing on Downdetector and StatusGator. The company has yet to officially acknowledge the disruption or provide a resolution timeline.

SK Hynix's ADRs rose 8% amid strong AI demand and record financial results, reflecting optimism in the semiconductor sector and robust AI infrastructure investment.

Elon Musk's recent comments have reignited interest in Tesla's delayed Roadster, hinting at potential flying capabilities. Despite past skepticism, Musk suggests flying cars may soon become a reality.

ERock, Inc. shares surged after reporting a record $1.7 billion backlog and strong revenue growth, driven by AI data center demand. Despite losses, analysts remain bullish on the company's growth potential.

PetLibro users report app connectivity issues for a second day, impacting remote pet care. The company has yet to provide a detailed statement on the outage's cause or resolution timeline.

Ethereum's price rose amid cooling inflation data, technological upgrades, and institutional interest. Despite past underperformance, network activity remains strong, with significant developments expected in 2026.

Bitcoin remains stable above $63,600 as investors assess inflation data's impact on Federal Reserve policy, highlighting ongoing market volatility and institutional interest in cryptocurrency.

GameStop is reconsidering its $56 billion eBay takeover proposal, exploring a partnership instead. This strategic shift follows market reactions and aims to leverage GameStop's retail locations.

Samsung Electronics shares rose 6.68% as South Korea's Kospi index gained, driven by strong semiconductor demand and investor confidence in AI infrastructure. SK Hynix also saw significant gains.

CXMT Corp's shares rose 6.19% as DDR5 yields surpassed 90%, attracting major tech companies amid a global DRAM shortage. The company's strategic expansions and partnerships bolster its market position.

The Dow Jones Industrial Average rose slightly after July's inflation report showed a modest cooling, aligning with expectations. Investors now focus on upcoming Federal Reserve policy decisions amid ongoing market uncertainties.