Goldman Sachs initiated coverage on Hong Kong-listed Zhipu with a price target of 1,880 Hong Kong dollars while naming DeepSeek and ByteDance as its other top Chinese AI model picks, citing near-frontier performance and surging enterprise adoption.
A June survey of 1,690 U.S. adults found that 69% support forcing AI companies to transfer 50% of their stock to a public sovereign wealth fund, as tech-sector layoffs surpass 140,000 this year and AI is cited as the leading cause of job cuts.
AI company executives pushed back on concerns about slowing demand this week, even as chip stocks swung sharply and enterprises began scrutinizing the return on their AI investments more closely.
Oregon Attorney General Dan Rayfield has withdrawn his office's civil investigative demand against Paramount, ending the state's attempt to delay the company's acquisition of Warner Bros. Discovery after Paramount refused to hand over subpoenaed documents.
Meta Platforms rose 6% on Friday after CEO Mark Zuckerberg outlined plans to monetize the company's AI computing infrastructure through cloud services, new developer tools, and a custom chip set to enter production in September.
Meta has pulled an AI feature from Instagram that let users generate images referencing public accounts' photos without notifying those account holders, citing feedback that it "missed the mark."
Harvard astrophysicist Avi Loeb, known for controversial claims about alien technology, has been named to lead the White House-backed UAP Science Advisory Council, a multidisciplinary body tasked with advising the federal government on unidentified anomalous phenomena.
Meta Platforms rose 6% on Friday after CEO Mark Zuckerberg outlined plans to monetize the company's AI computing infrastructure through cloud services, new developer tools, and a custom chip set to enter production in September.
SK Hynix shares rose 13% on their first day of Nasdaq trading, closing at $168.01 after ADRs priced at $149 raised $26.5 billion, as Chairman Chey Tae-won said customer demand for AI memory chips remains insatiable.
Circle Internet Group shares surged more than 13% in premarket trading after the fintech company received approval from the U.S. Office of the Comptroller of the Currency to launch a crypto-focused bank, with CEO Jeremy Allaire calling it a key moment for blockchain in mainstream finance.
Goldman Sachs initiated coverage on Hong Kong-listed Zhipu with a price target of 1,880 Hong Kong dollars while naming DeepSeek and ByteDance as its other top Chinese AI model picks, citing near-frontier performance and surging enterprise adoption.
A June survey of 1,690 U.S. adults found that 69% support forcing AI companies to transfer 50% of their stock to a public sovereign wealth fund, as tech-sector layoffs surpass 140,000 this year and AI is cited as the leading cause of job cuts.
AI company executives pushed back on concerns about slowing demand this week, even as chip stocks swung sharply and enterprises began scrutinizing the return on their AI investments more closely.
Written for readers who already know the basics — markets, AI, and the policy decisions that shape both.