Monday, August 3, 2026
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IBM's second-quarter earnings fell well short of Wall Street's expectations, dragged down by a 42% drop in mainframe revenue, but executives insist the pullback is temporary rather than a sign that AI is killing the decades-old business.
Alphabet's Google Cloud revenue jumped 82% year-over-year to $24.8 billion in the latest quarter, beating Wall Street's expectations and giving the company a stronger case for its heavy AI spending.
Tesla no longer expects its Cybercab, Tesla Semi and Megapack 3 energy-storage system to reach "volume production" in 2026, according to its second-quarter shareholder letter.
Israeli workplace software maker Monday.com is laying off about 630 employees, roughly 20% of its headcount, as part of a restructuring to refocus investment around its AI Work Platform.
Neil Rimer, a co-founder of Index Ventures, says AI wealth concentration will trigger redistribution — voluntary or, he warns, involuntary.
Rising memory-chip costs tied to AI demand pushed India's smartphone shipments down 10% in the April-June quarter — the steepest June-quarter decline in six years, Counterpoint Research said.
SpaceX aborted its second Starship V3 launch attempt moments after ignition on Thursday, after some engines failed to start, and won't try again until next week.
BP is selling more than 10 companies from its venture portfolio to Nordic private equity firm Verdane, according to the company, deepening its retreat from clean energy investing.
Microsoft is reportedly training its sales team to negatively compare AI products from partners OpenAI and Anthropic to its own in-house models.
SpaceX shares fell to just above $135 on Wednesday — the price set at its blockbuster June 12 IPO — a month into a steady decline.
SpaceX shares fell below their $135 IPO price on Wednesday afternoon, dropping to beneath $133 per share ahead of a Starship test launch on Thursday.
Anthropic and Blackstone have launched Ode, a $1.5-billion joint venture focused on deploying AI models directly inside enterprise operations.
Realta Fusion will build its R&D facility in Wisconsin, backed by an estimated $55 million in state and local incentives.
Anthropic's new advertisement, "There's hope in hard questions," has drawn widespread criticism and mockery from rivals for its unsettling imagery and dark, existential tone.
Lucid Motors denied rumors that it is considering Chapter 11 bankruptcy protection, calling the reports false after its stock suffered its biggest intra-day drop ever.
DeepSeek is reportedly in talks to raise around $1.5 billion at about a $71 billion valuation before a 2027 IPO that could arrive as early as this year, per Bloomberg.
Meta may soon cap employees' AI token spend after costs put it on track for billions of dollars in 2026, mirroring budget crackdowns at Uber and Microsoft.
General Fusion has debuted on the Nasdaq as the first publicly traded fusion power company, with its stock rallying 40% on its first day.
Subversive Capital has registered two new exchange-traded funds designed to explicitly exclude companies founded, controlled, or led by Elon Musk.
OpenAI's No. 2 executive Fidji Simo is stepping down from her full-time role to become a part-time advisor, leaving CEO Sam Altman searching for a successor.