From CNBC Technology · 40 stories
Anduril CEO cautious on IPO amid market hype
Anduril CEO Brian Schimpf stated the company is not rushing to go public due to current market conditions. He expressed concerns about high valuations and the irrational pricing of tech stocks, indicating the need for a favorable environment for a successful IPO.
AI companies invest millions in 2026 elections to influence legislation
AI companies have invested over $44 million in political action committees for the 2026 midterm elections to influence forthcoming AI regulations. This spending signals their growing role in shaping national legislation concerning AI technology, as both parties prioritize the development of regulatory frameworks for AI use.
Jim Cramer warns stock issuance may threaten bull market
Jim Cramer expressed concerns about new stock and bond issuances potentially jeopardizing the bull market, particularly as firms like Alphabet and SpaceX have significantly increased equity and debt supply. He cautioned that if the pace of capital raising continues, it could result in oversupply and reduced demand, impacting market stability.
Rebellions plans IPO in South Korea amid AI chip market growth
Rebellions aims for an IPO in South Korea in Q1 or Q2 2024, targeting the KOSPI market. Backed by key investors, the firm seeks to capitalize on increasing interest in AI chip technology, especially in AI inference.
Former Apple Executive Bets on Shenzhen for Future Consumer Electronics Launches
Will Wang, CEO of Even Realities, stated that Shenzhen offers superior conditions for consumer electronics startups compared to Silicon Valley. His company, valued at $1 billion after a $150 million funding round, is targeting the AI wearables market.
Hesai Technology faces scrutiny over cybersecurity risks amid US blacklist
Hesai Technology, a lidar manufacturer, is blacklisted by the US for national security reasons, raising concerns about cyberthreats. Despite this, Hesai will provide sensors for Nvidia's autonomous vehicle platforms, indicating significant market reach and reliance on its technology.
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.
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.
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.
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.