Ryan Weeks / Bloomberg: Crypto and tech entrepreneurs are attending Network School, founded by Balaji Srinivasan in Forest City, Malaysia, to test his concepts about the Network State — Balaji Srinivasan wants to design a new kind of nation state, and he's making a troubled megaproject a testbed for his ideas.
Dina Bass / Bloomberg: A study focused on OpenAI's GPT-4o mini found that LLMs can be persuaded to comply with objectionable requests using the same tactics that persuade humans — AI chatbots can be manipulated much in the same way that people can, according to researchers. But first... Three things to know:
Bloomberg: China says it will prevent excess competition in the AI sector, echoing Xi Jinping's caution against excessive local government investment in AI last month — China said it will prevent excess competition in the red-hot artificial intelligence sector, a signal that Beijing wants …
Dina Bass / Bloomberg: SEC filing: Super Micro cautions that its financial control weaknesses, if not fixed, could hurt its ability to report results “in a timely and accurate manner” — Super Micro Computer Inc. cautioned that weaknesses in its controls related to financial disclosures could …
Robert Burnson / Bloomberg: A judge rules Nvidia must face trial over allegations that it benefitted from autonomous driving data stolen by an engineer who defected from Valeo in 2021 — Nvidia Corp. must face trial in the case of an engineer who inadvertently revealed autonomous driving trade secrets that he allegedly stole from a former employer.
Bloomberg: Huawei reports H1 2025 revenue up 3.9% YoY to ~$58.5B, driven by soaring AI compute demand and a rebound in phone sales, and net profit down 32% YoY to ~$5.2B — Huawei Technologies Co. posted a first-half profit, getting back into the black after the emergence of DeepSeek ignited a wave of AI development across China.
Nicola M White / Bloomberg: Elon Musk files a motion to dismiss a US SEC suit over his 2022 Twitter stake disclosure, calling allegations that he cheated investors a government overreach — Elon Musk asked a federal judge to dismiss a US Securities and Exchange Commission lawsuit over his growing stake in Twitter Inc. in 2022 …
Bloomberg: The US starts publishing GDP data on nine public blockchains including Bitcoin, Ethereum, and Solana, with the help of Coinbase, Kraken, and Gemini — The US government on Thursday began distributing gross domestic product data on public blockchains, marking the latest Trump administration endorsement of the crypto industry.
Yazhou Sun / Bloomberg: Dutch web design automation startup Framer raised $100M led by Meritech and Atomico with Accel participation at a $2B valuation, after raising $27M in 2023 — Framer, a Dutch company that makes tools for automating web design, has raised a funding round at a $2 billion valuation.
Bloomberg: Nvidia CFO Colette Kress says the US hasn't outlined its plan for a 15% China commission, Nvidia won't pay until it has it, and it can sell AI chips without it — An unconventional plan by the Trump administration to charge a 15% commission on Nvidia Corp. AI chip sales to China …
Emily Forgash / Bloomberg: Google plans to invest an additional $9B in Virginia through 2026 to boost its cloud and AI infrastructure, including a new data center in Chesterfield County — Alphabet Inc.'s Google is investing an additional $9 billion in Virginia through 2026 to enhance cloud and AI infrastructure across the state …
Bloomberg: An in-depth look at India's quick commerce boom, driven by Blinkit, Zepto, and Instamart, which have collectively lost more than $1.4B in the past four years — A few miles from the bustling, labyrinthine markets of Old Delhi — where traders have hawked spices and textiles for centuries …
Bloomberg: Meituan reports Q2 revenue up 11.7% YoY to ~$12.8B and net income down 97% YoY to ~$51M, blaming “irrational competition” in the Chinese food delivery market — Meituan's profit got wiped out in a price-based battle with rivals Alibaba Group Holding Ltd. and JD.com Inc. …
Bloomberg: Sources and docs: Microsoft worked with the FBI to track anti-Israel protests, flagged internal emails with words like “Gaza”, deleted posts, and fired staff — Twenty activists urging company to sever ties with Israeli military were arrested last week.
Bloomberg: AT&T agrees to buy spectrum licenses from EchoStar for ~$23B in cash, adding ~50MHz of spectrum, expected to close by mid-2026, pending regulatory approval — Corrected — EchoStar Corp. has agreed to sell spectrum licenses to AT&T Inc. for about $23 billion in a deal that may help …
Navya Menon / Bloomberg: Yield Sec: illegal gambling operators captured 71% of Europe's online betting and casino market in 2024, or €80.65B, as regulators struggle with crypto casinos — Illegal gambling operators captured 71% of Europe's online betting and casino market last year, or €80.65 billion …
Rachel Metz / Bloomberg: Stanford researchers: over the past three years, employment has dropped 13% for entry-level workers just starting out in fields that are the most exposed to AI — Artificial intelligence is making it harder for entry-level workers in the US to find jobs in fields like software development …
Thomas Seal / Bloomberg: Shopify updated a help page in May to tighten its rules against “hateful content” like racist merchandise, after removing a similar ban in July 2024 — Shopify Inc. tightened rules against “hateful content” as users sell racist merchandise using its popular e-commerce platform, roughly a year after removing a similar ban.
Omar El Chmouri / Bloomberg: Saudi Arabia's Humain debuts Humain Chat, a bilingual Arabic-English conversational AI powered by its Allam LLM and designed around Islamic values and heritage — Humain, Saudi Arabia's leading artificial intelligence company, has launched a conversational AI app for Arabs and Muslims …
Bloomberg: Sensor Tower: Temu's MAUs in Latin America grew 143% YoY to 105M in H1 2025; Mexico, Chile, and Uruguay want to tax low-cost imports to protect local businesses — The region is starting to tax the flood of cheap stuff from its lopsided trade partner. — An avalanche of cheap Chinese stuff …
Lucas Shaw / Bloomberg: Sources: Spotify has been unable to settle on the features that should be in a super premium plan, discussed for years, and hasn't come to terms with partners — The company has spent a couple years talking about a more-expensive version of its music service for superfans. Where is it?
Bloomberg: The US CFTC staff describe chaos, cutbacks, and an atmosphere of resentment and paranoia as the agency prepares to take on new crypto regulatory duties — The Commodity Futures Trading Commission is poised to take on vast new responsibilities. Staff describe chaos, cutbacks and an atmosphere of resentment and paranoia.
Cecilia D'Anastasio / Bloomberg: How AI is increasingly being used to replace human content moderators, who say that the tech is not yet capable of reliably identifying harmful content — Kevin decided on a career in content moderation after his YouTube recommendations took a bewildering swerve.
Andy Mukherjee / Bloomberg: India's move to ban online real-money games over addiction and money laundering concerns appears valid, but it may push users toward offshore crypto casinos — Cricket wagers will move offshore, with crypto becoming the preferred currency. — India has stunned its online gaming industry …
Bloomberg: Istanbul-based stock and crypto brokerage Midas raised an $80M Series B led by QED Investors, valuing the company, sources say, at nearly $1B — Turkey's first commission-free trading platform Midas is now valued at nearly $1 billion following its latest funding round, according to people familiar with the matter.
Paige Smith / Bloomberg: Sources: Visa shut down its open-banking business in the US amid regulatory uncertainty; the unit provided tools to help fintechs access customer-account data — Visa Inc. shut its open-banking business in the US amid regulatory uncertainty about consumer-data rights and the prospect …
Bloomberg: Pattern, an e-commerce firm that resells goods on online marketplaces, files for a US IPO, reporting net income of $32.1M on revenue of $1.1B for H1 2025 — Pattern Group Inc., an e-commerce firm that resells goods on marketplaces such as Amazon.com Inc.'s, filed for an initial public offering, disclosing growing revenue and profit.
Bloomberg: China's Shanghai index hit a decade high on August 22, driven by gains in local chipmakers Cambricon and Hygon, after Nvidia reportedly halts H20 production — Chinese stocks were a standout performer in global markets on Friday, with a benchmark of onshore equities capping …
Jason Schreier / Bloomberg: Sources: Take-Two lays off 80+ staff at BioShock studio Cloud Chamber, or ~33% of its ~250 staff, and delays the next BioShock game to late 2026 or early 2027 — Thirty percent of the studio was laid off this week, adding more years to the game's production
Bloomberg: DeepSeek details V3.1 and says it surpasses R1 on key benchmarks and is customized to work with next-gen Chinese-made AI chips, after unveiling it on August 19 — DeepSeek unveiled an update to an older model that it says surpasses the seminal R1 on key benchmarks, keeping the Chinese startup …
Bloomberg: SpaceX inks an Alaska Air deal for Starlink's Wi-Fi; sources: SpaceX is courting Middle Eastern airlines, a potential watershed moment against legacy operators — Signing deals with Middle Eastern airlines would mark a watershed moment for SpaceX's biggest revenue source
Jeanny Yu / Bloomberg: Analysis: Baidu's stock is trading at a forward P/E ratio of ~9.7, the lowest of any profitable Hang Seng Tech Index company, amid AI competitiveness concerns — Sharp stock underperformance for Baidu Inc. on concerns over its outlook have left it trading at the cheapest valuation among China's major internet firms.
Brody Ford / Bloomberg: Sources: Oracle is on the hook for tens of billions to build unprecedentedly large data centers, including $1B+ per year on a gas-powered megasite in West Texas — Oracle Corp.'s Larry Ellison used to scoff at the idea of cloud computing, saying in 2008 that it was “complete gibberish.”
Ryan Vlastelica / Bloomberg: Analysis: Intel's stock, up 28% in August, is trading at a 53 forward P/E ratio, its highest since early 2002, reflecting its declining profits in recent years — After months of turbulence, Intel Corp. bulls are finally being rewarded for their patience. But the stock's sudden rebound comes …
Bloomberg: DeepSeek releases V3.1, adding a longer context window, with few other details; Chinese local media blames CEO Liang Wenfeng's perfectionism for R2's delay — DeepSeek announced what appeared to be an update to its older V3 artificial intelligence model on Tuesday, declaring an enhanced version ready for testing.
Linda Lew / Bloomberg: Xiaomi reports Q2 revenue up 31% YoY to $16.2B, above ~$16B est., and net income up 75.4% to ~$1.6B driven by EV sales, as its smartphone business slows down — Xiaomi Corp. intends to sell its first electric vehicle in Europe by 2027, declaring plans to take on Tesla Inc. and BYD Co. globally …
Bloomberg: Sources: Apple is making all four iPhone 17 models in India ahead of debut, a first, as it expands to five factories to cut reliance on China for US-bound units — Apple Inc. is expanding iPhone production in India at five factories, including a pair of recently opened plants …
Debby Wu / Bloomberg: SoftBank buys Foxconn's Ohio EV plant; Foxconn will still run the plant and make AI servers as part of Softbank's $500B Stargate project with OpenAI and Oracle — Hon Hai Precision Industry Co. will operate a US factory owned by SoftBank Group Corp., setting up what's in the running …
Thomas Black / Bloomberg: A look at the problems at Uber Freight, which has posted operating losses every year since it was founded in 2017, except for 2022, and just appointed a new CEO — The unprofitable unit doesn't fit the company's model and has little to no synergies with its main ride-hailing and delivery businesses.
Kate Clark / Bloomberg: Sources: current and former OpenAI employees plan to sell ~$6B in stock to Thrive Capital, SoftBank, and others in a secondary sale that values OpenAI at ~$500B — SoftBank, Dragoneer and Thrive Capital are set to buy OpenAI shares from current and former employees at a $500 billion valuation.
Bloomberg: A US district court judge temporarily blocks an FTC probe into Media Matters, part of an antitrust investigation into ad boycotts, calling the probe retaliatory — Nonprofit Media Matters for America won a court order blocking a Federal Trade Commission information demand for documents …
Norah Mulinda / Bloomberg: Opendoor CEO Carrie Wheeler steps down, with Shrisha Radhakrishna named president and interim CEO; OPEN jumps 8%+ — Opendoor Technologies Inc., a real estate company that became a meme stock in recent months, said Chief Executive Officer Carrie Wheeler is stepping down immediately as the board searches for a replacement.
Carmen Reinicke / Bloomberg: CoreWeave's IPO lockup expires, letting holders of 80%+ of its Class A shares sell; its stock fell 33% in the two days after its Q2 earnings amid selloff fears — CoreWeave Inc.'s March initial public offering has been a roaring success for anyone lucky enough to get in at the start.
Bloomberg: Sources: some investors seek to replace N26's co-CEOs after German financial regulator Bafin identified new deficiencies in the digital bank's internal controls — Some investors in N26 are urging the German digital bank's two chief executive officers to step down, following fresh criticism …
Bloomberg: Meta's standalone Meta AI app, launched in April 2025, offers an uneven experience, hallucinating and not personalizing replies despite access to Meta accounts — The Meta AI app offers an uneven experience, posing a sharp contrast to Mark Zuckerberg's lofty artificial intelligence ambitions.
Samantha Kelly / Bloomberg: Fitness band maker Whoop says it will not disable its blood pressure tracking tool despite the US FDA's request from July and requests a meeting with the agency — Whoop Inc., the maker of screen-less fitness bands, said it will not disable its blood-pressure tracking tool despite a request from the US Food and Drug Administration.
Mark Bergen / Bloomberg: Milan-based Bending Spoons raised €500M+ in debt led by JPMorgan Chase to buy more software businesses; the company raised $155M at a $2.6B valuation in 2024 — Bending Spoons, a serial acquirer of software businesses, has raised more than €500 million ($585 million) in debt to buy more firms.
Bloomberg: JD.com reports Q2 revenue up 22% YoY to ~$49.7B, vs. ~$46.8B est., and net income down 51% YoY to ~$846M, benefiting from government-directed consumer subsidies — JD.com Inc.'s revenue grew a faster-than-anticipated 22%, benefiting from government-directed consumer subsidies as well as an aggressive …
Sarah Jacob / Bloomberg: Adyen reports H1 2025 net revenue up 20% YoY to €1.09B, vs. €1.11B est., processed volume up 5% YoY to €649B, and EBITDA up 28% YoY to €543.7M; ADYEN falls 5%+ — Adyen NV shares sank as much as 20% after the payments processing company walked back its projections for faster revenue growth this year.
Dana Wollman / Bloomberg: Amazon says it now offers same-day grocery delivery in 1,000+ cities and plans to bring it to 2,300+ more by the end of 2025; Prime subscribers get it free — Amazon.com Inc. is now offering same-day grocery delivery in more than 1,000 cities and plans to bring the service to over 2,300 …