The crypto industry hit a new milestone, as US lawmakers approved the first major piece of crypto legislation, while China’s carmakers are flooding foreign markets with cheap EVs, driving global rivals into a pricing panic.

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AI startup Anthropic isn’t actively raising cash – but with chatbot Claude growing like crazy, investors are throwing money at it anyway – chipmaker TSMC revealed a record profit and raised its forecast, even while warning about two key risks.

Today’s stories:

• Anthropic Could Be Worth Over $100 Billion With The Impression That Claude’s Made
• TSMC Posted Its Biggest Quarterly Profit Yet, Much To Investors’ Delight

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ASML beat expectations for now – but with next year looking less sunny than the chipmaking firm originally thought, investors ditched its stock – while America’s biggest rare earth producer just landed a major government contract – and it’s aiming to loosen China’s grip on the global supply chain.

Today’s stories:

• Chip Firm ASML’s Bleak Perspective On Next Year Gave Investors A Shock
• The US Wants Texas To Hold Rare Earth Magnets, Inking A Deal With MP Materials

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Meta’s forged a plan to build AI megastructures so big that they’ll make New York City look small, while JPMorgan and Citigroup made a mint in trading, but both banks’ CEOs seemed more reserved than elated.

Today’s stories:

• Meta’s Leveling Up Its AI Game With Data Centers The Size Of Manhattan
• JPMorgan And Citigroup Used The Tricks Of The Trade To Beat Expectations

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Elon Musk is using SpaceX’s rocket cash to fuel his AI goals, with a $2 billion bet on xAI, while the EU’s prepping for a tariff breakup with the US – and lining up rebound trade partners just in case.

Today’s stories:

• Elon Musk’s SpaceX Is Set To Invest $2 Billion Into His AI Startup, xAI
• The European Union Is Reconsidering Whether It Belongs With The US After All

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Bitcoin flew to new highs, topping $118,000 as traders piled in ahead of US “Crypto Week”, while the president threatened new tariffs – adding to a growing list of surprise taxes.

Today’s stories:

• Bitcoin Flew To The Moon, Blasting Past $118,000 For The First Time
• The US President Proposed Another New Tariff, This Time On Canadian Goods

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TSMC had another record-breaking quarter, soothing investors’ nerves and proving that chip demand is still red-hot, while Revolut’s in talks to raise $1 billion from investors – a funding round that would value the fintech at $65 billion.

Today’s stories:

• TSMC Made Investors Chipper, Pulling In Record Revenue Yet Again
• Fintech Revolut Is Revved And Ready For A $1 Billion Funding Round

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The US president threatened to slap a 50% import tax on copper, sparking a buying frenzy that sent the metal’s price to a record high, while China's factory prices fell by the most in nearly two years, deepening deflation worries.

Today’s stories:

• American Copper Prices Hit A Record High On The Threat Of Fresh Tariffs
• China’s Factories Are Fighting A Downhill Battle, With Prices On The Slide

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Samsung forecast its worst quarterly performance in a year and a half, while Amazon’s Prime Day might be full of prime cuts – and we’re not talking about steaks.

Today’s stories:

• Samsung Just Warned That Its Second-Quarter Profit Probably Took A Big Dip
• Amazon’s Famous Prime Day Sale Might Look A Little Lonely This Year

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The US president extended his tariff truce – but warned trade partners backing “anti-American policies” that they could be next in line for extra duties – while Hong Kong became the world’s busiest IPO market, after Chinese firms ditched the mainland and the US.

Today’s stories:

• The US President Threatened Trade Partners With A Wall Of Higher Tariffs
• Hong Kong Has Been King Of IPOs This Year, With Nearly $14 Billion Raised

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