From CNBC Technology · 40 stories
Tesla Registers Entity in Vietnam, Faces Dominant Local EV Player VinFast
Tesla registered a local entity, Tesla Motors Vietnam, indicating a potential entry into Vietnam's electric vehicle market. This move positions Tesla against VinFast, which currently holds 92% of the domestic EV market share and benefits from an established ecosystem and charging infrastructure.
Trump and Xi to meet amid trade tensions, AI debate, and tariff concerns
President Trump and Chinese leader Xi Jinping are scheduled to meet for their second summit this year to discuss trade stability. The meeting occurs amidst ongoing trade accusations, shifting U.S. tariffs, and a debate over artificial intelligence, with both leaders seeking economic agreements.
Rep. Chip Roy Advocates Congressional Oversight for AI, Opposes Regulation
Representative Chip Roy stated that Congress should have an oversight role regarding artificial intelligence, but he opposes direct regulation of the technology. He suggested that AI CEOs should testify before Congress to address safety concerns, reflecting a limited government perspective amidst ongoing debate on AI governance.
AirAsia co-founder refutes financial concerns, announces growth plans and AI adoption
AirAsia co-founder Tony Fernandes denied media reports of financial instability, stating the airline is sustainable and not seeking a government rescue. He announced plans for growth, including a new strategy with Airbus and increased use of AI for fuel savings and customer features.
Costco and Uber Eats expand delivery partnership to 47 US states
Costco and Uber Eats expanded their delivery partnership from 17 to 47 US states, making nearly 600 Costco locations available on the Uber Eats platform for members. This expansion allows Costco to reach more customers and provides Uber Eats with a broader offering amidst increasing competition in the delivery sector.
AI tools assist managers in rehearsing difficult workplace conversations
New AI coaching tools are emerging to help managers prepare for difficult workplace conversations, such as performance reviews or job eliminations. These tools allow managers to practice delivering messages and simulate employee reactions, addressing a common struggle among managers in handling such interactions.
Altimeter CEO Brad Gerstner Criticizes AI Extinction Warnings as Hyperbolic
Altimeter Capital CEO Brad Gerstner stated that warnings from AI researchers about human extinction are detached from reality and hyperbolic. Gerstner, whose firm invests in major AI companies, argued that significant safety measures are already in place for AI development, unlike previous technologies.
Airbnb CEO Brian Chesky Discusses AI's Potential at Communacopia Conference
Airbnb CEO Brian Chesky stated at the Goldman Sachs Communacopia + Technology Conference that AI is a "cognitive revolution" that humans can surf rather than be swallowed by. He compared AI's potential to nuclear power, emphasizing that its outcome depends on human direction.
Ryanair CEO warns of 'significant uplift' in airfares due to high oil prices
Ryanair's CEO, Michael O'Leary, stated that airfares could see significant increases if oil prices remain elevated, impacting the airline industry due to rising jet fuel costs. This potential price hike would affect December and March quarters, following a modest decrease expected in the second quarter.
CoreWeave CEO attributes public AI pushback to rapid technological change
CoreWeave CEO Mike Intrator stated that public opposition to AI and data centers stems from the rapid pace of change, not the technology itself. He suggested that companies have not adequately communicated the benefits of AI to the public. This perspective was shared at the Goldman Sachs Communacopia + Technology Conference, where AI adoption and public pushback were key discussion points.
Trump Posts AI-Generated Images and Unverified Claims on Truth Social
Donald Trump posted numerous AI-generated images and unverified claims on Truth Social, including a statement about making "Hundreds of Billions of Dollars on Stocks" for the U.S. These posts included depictions of Iran's defeat and other political imagery, alongside claims lacking supporting evidence.
South Korea's AI Stock Rally Reshapes Dating Preferences and Reality TV
South Korea's AI stock rally has led to a shift in dating preferences, with professionals in the chip sector becoming highly sought after due to significant bonuses. This trend has also influenced academic choices and inspired a dating reality show.
Affirm Reports Strong Q4 Earnings and Positive Outlook Amidst High Gas Prices
Affirm Holdings reported strong fiscal fourth-quarter earnings, exceeding revenue and gross merchandise volume expectations, leading to a 7% stock increase. CEO Max Levchin noted that high gas prices are driving increased demand for buy now, pay later services as consumers seek budgeting tools.
AI Becomes Central Issue in Massachusetts Democratic Senate Primary
Artificial intelligence has become a key issue in the Massachusetts Democratic Senate primary between Rep. Seth Moulton and Sen. Ed Markey. The debate centers on AI regulation, with both candidates advocating for new guardrails, and AI-backed PACs contributing to their campaigns.
Shein targets $27 billion Hong Kong IPO, a significant drop from 2022 valuation
Shein plans to raise up to $1.77 billion in its Hong Kong IPO, valuing the company at approximately $27 billion. This valuation is substantially lower than its $98.2 billion valuation in 2022, reflecting slowed growth, profitability pressures, and waning investor interest.
Judge Yvonne Gonzalez Rogers appointed Chief Judge of Northern District of California
Yvonne Gonzalez Rogers was named chief judge of the Northern District of California, succeeding Richard Seeborg. She is currently overseeing a trial involving Meta's advertising business and previously handled cases against Elon Musk and Apple.
South Korean Investors Increase U.S. Market Exposure, Including Leveraged Products
South Korean retail investors are increasing their net purchases in U.S. markets, including U.S.-listed depositary receipts of Korean companies and leveraged ETFs, while net selling domestic stocks. This trend indicates a shift in investment location rather than a change in thematic bets, with some experts noting potential speculative excess.
Cisco shares drop 9% despite exceeding Q4 earnings and Q1 revenue guidance
Cisco's stock fell 9% after its Q4 earnings and Q1 revenue guidance surpassed analyst expectations. Wall Street analysts expressed concerns about the company's conservative guidance and potential peak growth, despite strong performance driven by AI infrastructure orders.
Norway's Sovereign Wealth Fund Reports Record Profit and Discloses SpaceX Stake
Norway's $2.3 trillion sovereign wealth fund reported a record half-year profit of over $184 billion, driven by strong performance in Asian technology stocks. The fund also disclosed a 0.05% stake in SpaceX, valued at over $1.2 billion, making it a significant investor in Elon Musk's companies despite past disagreements.
Trump Media Reports $238 Million Q2 Loss, Primarily Due to Crypto Declines
Trump Media & Technology Group (TMTG) reported a net loss of over $238 million in its fiscal second quarter, largely attributed to declines in non-cash digital assets. The company's revenue of $1.7 million primarily came from Truth Social ad services, while operating expenses increased significantly.
Savers Value Village Launches AI-Powered Pricing Tool, ThriftIQ, for Apparel
Savers Value Village introduced ThriftIQ, an AI platform designed to optimize pricing for apparel items in its thrift stores. This tool aims to bring more consistency and predictability to pricing, improving profitability and customer experience in the growing secondhand retail market.
Applovin stock drops 17% after Q2 revenue misses analyst expectations
Applovin's stock fell 17% after its second-quarter revenue of $1.92 billion missed analyst expectations of $1.94 billion. The company attributed the miss to slower-than-expected improvements in its advertising models, impacting its expansion into e-commerce with AI-powered adtech.
Etsy lays off 12% of workforce to streamline operations and accelerate innovation
Etsy is laying off approximately 220 employees, or 12% of its workforce, primarily from product and engineering teams. This restructuring aims to simplify the company's organizational structure and enable faster innovation in the competitive e-commerce market.
Stoxx 600 Reaches Record High, Driven by Semiconductor and Banking Sectors
The Stoxx 600, Europe's headline stock index, closed at a record high of 656.86 points, up 0.7% on Tuesday. This performance is largely attributed to strong gains in semiconductor-related stocks due to AI infrastructure buildout and the banking sector's consolidation and favorable operating environment.
Pinterest shares fall 7% after sales guidance disappoints despite Q2 earnings beat
Pinterest's shares dropped 7% after the company provided sales guidance that was in line with analyst expectations, despite reporting better-than-expected earnings and revenue for the second quarter. The guidance was impacted by the shift of Amazon Prime Day and the end of the World Cup, which affected advertising spend.
Grab attributes AI integration to 3x faster product shipping and raised financial forecasts
Grab, a Southeast Asian ride-hailing and delivery firm, raised its full-year revenue and EBITDA outlook after reporting record second-quarter results. The company's CFO stated that AI integration has enabled Grab to ship products three times faster, contributing to improved margins and cost efficiency.
Trump Media Launches Paid Data Service for Faster Access to Truth Social Posts
Trump Media and Technology Group launched "Truth API," a paid data service providing real-time access to Truth Social posts, including those from Donald Trump. This service aims to monetize proprietary assets through a recurring revenue stream, but has drawn scrutiny from Democratic Senators regarding potential abuse of office.
Incoming Best Buy CEO Jason Bonfig to focus on smaller store formats for growth
Best Buy's incoming CEO, Jason Bonfig, plans to open smaller-format stores to expand the company's reach into markets that cannot support traditional large stores. This strategy aims to revitalize sales and improve customer engagement, addressing recent struggles with declining consumer confidence and slower tech innovation.
Rolls-Royce Raises Full-Year Profit Guidance Amid Strong Demand in Defense and AI Data Centers
Rolls-Royce increased its full-year profit and cash flow guidance after reporting strong first-half earnings, driven by demand in civil aerospace, defense, and power systems. The company is benefiting from increased defense spending and the expansion of AI-driven data centers, where its power systems business saw over 50% growth in orders.
Amazon CEO's Capex Explanation Boosts Stock, Influences Hyperscaler Market
Amazon CEO Andy Jassy provided a detailed explanation for the company's significant data center spending, stating clear line-of-sight to strong financial returns, which led to a substantial increase in Amazon's stock value. This explanation also positively impacted other hyperscaler stocks, including Alphabet, despite its earlier negative market reaction to similar capex increases.
Data Center Opposition Emerges as Potential Political Factor in Texas Elections
Opposition to data center development is growing in Texas due to concerns over resource use, noise, and property values. This issue could influence upcoming elections, potentially benefiting Democrats in the state.
The concept of 'Robot Relations' emerges as AI integrates into the workplace
Discussions are ongoing about the need for a "Robot Relations" department within companies to manage human-AI interactions and resolve potential conflicts as AI becomes more prevalent in the workplace. This concept addresses future workplace challenges arising from human employees interacting with AI agents, cobots, and large language models.
Construction Robots Address Housing Shortage, Focus on Specialized Tasks
Robotics and automation are being applied in construction to address the US housing shortage and labor gaps, but their impact on overall productivity remains limited. Current applications focus on specialized tasks and factory-based construction rather than general humanoid workers on dynamic job sites. The industry faces a shortage of 1.2 million homes and 300,000 construction jobs, with productivity gains lagging other sectors.
AI Data Center Boom Boosts Trucking Industry Amidst Economic Headwinds
The construction of AI data centers is driving increased demand for trucking services, particularly in flatbed and heavy haul sectors, providing a business boost to an industry facing challenges from trade tariffs and rising fuel costs. This surge in data center development is also reshaping trucking routes and increasing demand for skilled transportation and logistics personnel.
AI Tools Aid Back-to-School Shopping for Consumers Seeking Value
Consumers are increasingly using AI tools like ChatGPT and Claude for back-to-school shopping to compare prices, find deals, and consolidate product research. This trend allows families to delegate decision-making and manage budgets more effectively, with 61% of shoppers reporting AI tool usage for this purpose.
BlackBerry shifts focus to automotive software and industrial robotics for future growth
BlackBerry, once a major phone manufacturer, has transitioned its business to focus on secure communications and embedded software for cars through its QNX division. The company is now expanding its QNX offerings into industrial robotics, viewing it as a key area for future growth in physical AI.
Memory Stocks Micron, Sandisk, Seagate, and Western Digital See Significant Gains from AI Demand
Four memory and storage companies—Micron, Sandisk, Seagate, and Western Digital—have experienced substantial stock growth due to increased demand for memory and storage in AI data centers. These companies specialize in different memory technologies, including DRAM, NAND flash, and hard disk drives, all of which are necessary for modern computing infrastructure. Despite recent pullbacks, their stock performance since 2025 highlights the impact of AI spending on the hardware sector.
Rivian Autonomy+ Advances, Still Trails Tesla FSD in Point-to-Point Driving
Rivian's Autonomy+ advanced driver-assistance system has improved significantly, surpassing competitors like GM's Super Cruise, but it still lags behind Tesla's FSD (Supervised) in non-highway and point-to-point navigation. Rivian plans to introduce point-to-point driving later this year, aiming to close the gap with Tesla's capabilities.
Arm Co-founder Hermann Hauser Warns of AI Bubble Risk Amidst Revolution
Hermann Hauser, co-founder of Arm, stated that AI represents a significant technological revolution but also carries a risk of a market bubble due to inflated valuations. He highlighted that while some valuations are high, major players like OpenAI and Anthropic are likely to withstand turbulence, and the AI boom is driving fundamental changes in computer architecture, such as in-memory and photonic computing.
Tata Electronics Cyber Breach Becomes Propaganda for China Amid Supply Chain Diversification
A recent cyber breach at Indian Apple supplier Tata Electronics is being used by China to argue against supply chain diversification away from China. The incident involved a hacking group claiming responsibility for stealing data related to unreleased iPhone models, though Tata Electronics stated operations were unaffected.