From CNBC Technology · 40 stories
Google invests €411 million in Proxima Fusion for Europe's fusion power plant
Google has invested €411 million in Proxima Fusion to develop Europe's first commercial nuclear fusion power plant. This funding will support the creation of a fusion demonstrator and advanced engineering systems, highlighting Europe's competitiveness in fusion technology against the U.S. and China.
Solstice CEO defends $14.5B acquisition after 15% stock drop
Solstice Advanced Materials announced it will acquire Element Solutions for $14.5 billion, despite a 15% stock drop following the news. CEO David Sewell attributes the sell-off to trading volatility rather than doubts about the acquisition's strategic value in expanding their semiconductor and AI capabilities.
Klarna applies for U.S. bank charter to expand beyond buy now, pay later
Klarna has submitted an application to establish a U.S. bank subsidiary, Klarna Bank USA, backed by the FDIC and based in Utah. This move aims to enhance its banking services, allowing the company to offer products like checking accounts and credit cards while enabling it to fund loans with customer deposits.
India warns Meta over child abuse ads on Instagram, urges immediate action
The Indian government has issued a stern notice to Meta regarding child sexual abuse material in advertisements on Instagram, demanding immediate action. This action reflects increasing regulatory risks for Meta in India, its largest market with over 480 million Instagram users.
Congressional Members Disclose SpaceX Stock Purchases After IPO
Two congressional members, Meuser and Cisneros, have reported stock purchases in SpaceX post-IPO. This disclosure raises questions about potential conflicts of interest due to their committee assignments overseeing financial services and defense.
Amazon Develops AI Chips for Echo, Fire TV and Upgrades Alexa Technology
Amazon is developing its own AI chips to enhance devices like Echo Show and Fire TV, as confirmed by hardware chief Panos Panay. This move allows on-device AI processing for better performance and security. The company is also advancing its Alexa voice assistant to understand user context through an enhanced version, Alexa+.
Corporate Sponsors Align with Trump's Freedom 250 Amid Political Connections
Freedom 250, a Trump-associated event, draws sponsorship from companies with federal contracts. This raises concerns about access to the Trump administration for corporate interests.
SpaceX IPO may inform strategies for upcoming mega-cap public listings
SpaceX's recent IPO performance may influence the public offerings of firms like Anthropic and OpenAI. Market experts indicate that the conditions faced by SpaceX could serve as a model for future mega-cap IPOs, particularly regarding index inclusion.
Robinhood CEO predicts AI agents will match human traders' capabilities
Robinhood CEO Vlad Tenev predicts that AI agents will soon be able to match human traders' capabilities, aiming to democratize trading tools for retail investors. This development could significantly enhance trading accessibility for everyday users, aligning their abilities more closely with institutional investors.
BYD and Xiaomi shares rise as June delivery figures show strong growth
Shares of BYD and Xiaomi increased by 9% and 5% respectively due to positive June delivery figures. Xiaomi reported over 30,000 deliveries for the third consecutive month, while BYD's sales rose 5.46% year-over-year, indicating strong demand in the electric vehicle market.
Chip stocks tumble after strong second quarter, led by Micron's 11% drop
High-performing chip stocks, including Micron, Intel, and AMD, declined significantly at the start of Q3. This downturn followed a strong Q2, where the semiconductor sector added significant market value amid AI demand, raising concerns about potential oversupply from major players like Meta.
Oura's $2.2B IPO primarily benefits existing shareholders, not for new fundraising
Smart ring maker Oura is seeking to raise up to $2.2 billion in its upcoming IPO, but the majority of the proceeds, approximately two-thirds, are allocated to existing shareholders rather than for company fundraising. This IPO structure allows early investors, particularly Forerunner Ventures, to exit their stakes and covers Oura's tax obligations related to employee share grants.
United Airlines Launches Aggressive Status-Match Campaign to Attract Delta and American Elite Flyers
United Airlines initiated a status-match campaign targeting elite frequent flyers of Delta Air Lines and American Airlines, offering temporary United status that can be extended by meeting specific spending requirements. This move highlights the intensifying competition among airlines for high-spending customers, with United also leveraging its Starlink Wi-Fi as an incentive.
Walmart rolls out digital shelf labels with light-up features for shoppers and staff
Walmart is implementing new digital shelf labels with light-up functions across its stores by the holiday season. These labels assist customers in locating products via the Walmart app and help employees with order picking and stocking, aiming to improve efficiency in stores.
U.S.-China Trade Truce Progresses Unevenly on Soybeans, Aircraft, and Rare Earths
The U.S.-China trade truce shows varied progress on key commitments like soybean purchases, Boeing aircraft orders, and rare earth element access ahead of an upcoming summit. This uneven fulfillment indicates the truce is maintaining commerce and preventing escalation, but neither side is ceding strategic leverage.
Underwater Infrastructure Becomes New Focus for Warfare and Surveillance
Governments and companies are increasing investment in underwater technologies due to concerns about the vulnerability of critical subsea infrastructure like communication cables and energy pipelines. This focus is driven by incidents like the Nord Stream pipeline sabotage and advancements in AI and autonomous underwater vehicles, making the ocean floor a new domain for surveillance and potential conflict.
Catastrophe Bonds May Insure Hyperscale Data Centers Against Natural Disasters
The growing value and concentration of hyperscale data centers, particularly in disaster-prone areas, are creating an insurance challenge for traditional markets. Catastrophe bonds (CAT bonds) are emerging as a potential solution for insurers to transfer these risks to capital market investors.
Marvell CEO attributes 241% stock surge to decade-long trust with hyperscale customers
Marvell Technology's CEO, Matt Murphy, stated that the company's 241% stock increase over the past year is due to established trust with major technology companies, particularly in the AI ecosystem. This trust allows Marvell to deliver complex chips on time and at scale, securing partnerships with companies like Nvidia and Google.
CrowdStrike CEO States AI Exposes Cybersecurity Gaps, Making Legacy Tools Inadequate
CrowdStrike CEO George Kurtz stated that the rise of AI is revealing significant gaps in corporate cybersecurity defenses, rendering older security tools insufficient. This shift is accelerating the speed of cyberattacks and increasing demand for advanced security solutions.
Micron CEO States AI Demand is Reshaping the Memory Industry's Cyclical Nature
Micron CEO Sanjay Mehrotra stated that artificial intelligence has fundamentally altered the memory industry, shifting it from a boom-and-bust cycle to one with more stable demand. This change is driven by the increasing need for high-performance, low-power memory in AI systems, autonomous vehicles, and AI-enabled consumer devices.
ECB Economists Warn AI Boom May Lead to Stock Market Correction
Economists at the European Central Bank (ECB) have warned that the current AI-driven stock market rally is likely to face a correction, citing historical patterns from previous technological revolutions. They suggest that overconfident investors or an eventual demand for higher risk premiums could lead to a downturn, with potential risks to euro area stability due to high exposure of European retail investors to "Magnificent 7" stocks.
Software-defined vehicles raise concerns about long-term usability and obsolescence
The automotive industry is uncertain about the longevity of software-defined vehicles, which rely heavily on complex software and connected features. These vehicles, despite receiving over-the-air updates, face potential issues with hardware obsolescence and discontinued support, similar to smartphones, which could impact their long-term functionality and repairability.
Global Companies Increase Reliance on Chinese Technology Despite US Curbs
Major global companies like Apple and Ford are integrating Chinese technology into their products and operations, including AI and EV batteries, even as the US government attempts to restrict China's technological growth. This shift indicates China is becoming a primary source of technology and innovation for international businesses, rather than just a market for sales. The trend is driven by factors such as cost, scale, manufacturing depth, and speed of innovation in Chinese tech sectors.
AI Buildout Costs Complicate Federal Reserve's Inflation Management
The significant capital expenditure on AI infrastructure is causing near-term inflation and supply chain issues, complicating the Federal Reserve's efforts to manage inflation. Despite claims from tech leaders about AI's deflationary potential, widespread productivity gains have not yet materialized, and adoption rates are slower than anticipated.
Anduril CEO Brian Schimpf Discusses AI in Warfare and Manufacturing Strategy
Anduril CEO Brian Schimpf discussed the company's approach to AI in autonomous weapons, emphasizing human supervision, and its strategy for defense manufacturing. Schimpf stated that AI in weapons should enable better human decision-making, not create fully autonomous systems, and advocated for defense companies to own more of the design process and use commercial supply chains. This approach challenges traditional defense procurement by aiming for faster development and deployment of advanced defense technologies.
Meta's Dominance in India Grows, Leading to Increased Government Scrutiny
Meta's social media platforms, particularly Instagram and WhatsApp, have seen surging user engagement and political influence in India, notably during recent Gen Z protests. This increased prominence is attracting greater government scrutiny regarding content moderation, competition, privacy, and digital payments.
Stock Market Surges While U.S. Economy Growth Slows
Stocks have surged in the first half of 2026, while U.S. economic growth has slowed, indicating a disconnect between the two. Economists emphasize that stock market performance and economic output are distinct phenomena that do not always align, which can confuse consumers and investors.
Cybersecurity Stocks Show Strong Recovery Driven by AI Demand
CrowdStrike and Palo Alto Networks stocks have surged, with both reaching all-time highs recently. This rebound is linked to the broader AI market's demand impacting not only software but also memory chip stocks, indicating a shift in market perception towards cybersecurity investments.
Larry Ellison Adopts Trading Plan to Sell Up to $7.5 Billion in Oracle Stock
Oracle founder Larry Ellison has initiated a trading plan to sell up to 50 million shares of Oracle stock, valued at $7.5 billion, between June 22 and October 24. This move is unusual for Ellison, who has historically retained a large stake in the company and has not sold more than 25,000 shares at any given time this century.
Amazon Cargo Plane Overruns Runway at Miami International Airport, Causing Injuries
An Amazon-branded Boeing 767-300 cargo plane operated by 21 Air overran the runway during landing at Miami International Airport, crashing into vehicles and resulting in multiple injuries. This incident led to grounded flights and a significant emergency response, impacting airport operations and Amazon's logistics.
MySpace Owners Hint at Relaunch, Citing Social Media Fatigue
MySpace owners Tim and Chris Vanderhook, co-founders of Viant Technology, have indicated plans to relaunch the social media platform. This potential comeback, hinted at in a documentary, aims to capitalize on current social media fatigue, though no specific dates or product details have been released.
Amazon to Refund Customers After Receiving $600 Million in Tariff Refunds
Amazon received approximately $600 million in tariff refunds in Q2 after the Supreme Court invalidated many of former President Trump's levies. The company plans to return a portion of this cash to customers who purchased items directly from Amazon where import charges were passed on, with refunds being automatic for eligible purchases.
Director Chris Fall Resigns From AI Standards Agency After Three Months
Chris Fall has resigned as director of the Center for AI Standards and Innovation, three months after his appointment. His resignation creates leadership uncertainty in U.S. AI policy as China's AI developments progress.
Jensen Huang's Leather Jacket Sells for $960,000 at Sotheby's Charity Auction
A leather jacket worn by Nvidia CEO Jensen Huang sold for $960,000 at a Sotheby's auction, significantly exceeding the estimate of $40,000 to $60,000. The proceeds will benefit the Edge Institute. The high auction price highlights collector interest in items associated with the tech industry.
Ben Bernanke Joins Anthropic's AI Oversight Trust to Guide Economic Impact
Ben Bernanke, former Federal Reserve Chair, has joined Anthropic's Long-Term Benefit Trust. This institution's independent governance structure aims to steer Anthropic in ensuring AI's long-term benefits outweigh its risks. Bernanke will provide insights into the economic impacts of AI.
Luxshare Faces 5% Stock Drop on Hong Kong Debut After Record IPO
Luxshare Precision Industry's shares dropped over 5% after its Hong Kong IPO debut, priced at 63.28 HKD per share, raising around $3.1 billion. Investor concerns center on Luxshare's strong revenue dependency on Apple, despite efforts to diversify into automotive and consumer electronics. The listing marks the largest in Hong Kong this year, expanding its existing Shenzhen listing to attract more overseas investors.
Meta Connect 2026 to feature new AI glasses and mixed reality headset
Meta's upcoming Connect 2026 event will likely showcase new smart glasses, including a camera-free model, and potentially a mixed reality headset. This event is significant as it outlines Meta's hardware and AI strategy, addressing privacy concerns with new designs.
OpenAI's new model solves ten math problems, prompting concerns about AI's role in mathematics
OpenAI announced that an unreleased AI model solved ten open problems in mathematics, including one in coding theory. This development raises questions about the future role of human mathematicians and the potential for AI to independently advance mathematical fields.
Cisco stock drops 5% after Piper Sandler lowers price target due to growth concerns
Cisco's stock fell by nearly 5% after Piper Sandler reduced its price target from $132 to $125. This adjustment reflects analyst concerns that growth in the networking equipment industry may be peaking, despite Cisco's recent strong revenue performance driven by AI demand.
Trump Discloses Over 1,100 July Trades, Including Sales of Microsoft and Amazon Shares
Donald Trump's July financial disclosure revealed over 1,100 securities transactions, totaling between $79 million and $270 million. This included sales of up to $25 million each in Microsoft and Amazon shares, alongside other purchases and sales, continuing a pattern of heavy portfolio trading.