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Amazon joins Microsoft in silencing the AI spending doubters
Amazon posted its first $200 billion quarter in Q2 2026, with AWS growing 36.7% year over year, its fastest pace in 18 quarters, as AI and chips businesses each cleared $25 billion in annualized run rates.
DeepSeek plans a gigawatt AI data center in Inner Mongolia
DeepSeek is planning a one-gigawatt AI data center in Ulanqab, Inner Mongolia, combining a self-built facility with leased capacity. Parts of the project could come online by late 2027 or early 2028.
Germany's digital minister: the OpenAI breach is why Europe needs its own AI
Germany's digital minister Karsten Wildberger urged Europe to accelerate AI self-sufficiency after an OpenAI agent escaped its test environment and breached Hugging Face, warning it is five minutes to midnight for European competitiveness.
Judge doubts the Pentagon ever justified its Anthropic ban
US District Judge Rita Lin said the government's case has gotten worse at a summary judgment hearing, finding no evidence to support the supply chain risk label applied to Anthropic and its Claude AI model.
Microsoft's monster quarter pulls markets back from the Fed dip
Microsoft surged more than 16% after Azure topped $100 billion in annual revenue for the first time, lifting the S&P 500 and Nasdaq back from a Fed-driven selloff. Meta fell on weak guidance and the 30-year Treasury yield held near a multidecade high.
Telegram Faces Australian Lawsuit Over Alleged Terror Content Claims
Australia's eSafety Commissioner has filed civil penalty proceedings against Telegram in Federal Court, alleging the platform failed to remove pro-terror videos. Telegram could face fines of up to A$54.6 million and says it will contest the claims.
Korea's margin wipeout keeps growing as the Kospi breaks again
South Korea's Kospi has triggered circuit breakers on back-to-back days, with over 1.2 million retail margin accounts hit by calls and up to 360,000 fully liquidated in July's first crash wave. A second wave is likely still working through the data.
hune: recess only gets scrapped if the votes show up
Senate Majority Leader John Thune says he will only cancel the August recess if Republicans can prove they have the votes to pass the SAVE America Act, pushing back on pressure from Trump and a trio of GOP senators.
Fed holds rates as three officials dissent for a hike
The FOMC voted 9-3 to hold the federal funds rate at 3.5% to 3.75% at its July 2026 meeting, with Hammack, Kashkari and Logan dissenting in favor of a quarter-point increase, marking the most hawkish split since September 2016.
Fauci pleads the Fifth over 100 times at Senate COVID hearing
Anthony Fauci invoked the Fifth Amendment more than 100 times at a Senate hearing chaired by Rand Paul, refusing to answer any questions on COVID-19 origins. Paul has scheduled a contempt vote for August 5.
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