Blockonomi

Key Takeaways
Cantor Fitzgerald boosted Snowflake’s price target by 44% to $405 from the previous $282, maintaining a Buy rating
This upward revision arrives just two days ahead of Snowflake’s fiscal Q2 2027 earnings announcement scheduled for September 2
Thomas Blakey, the covering analyst, anticipates product revenue will exceed the guidance midpoint by over 3%
Adoption of Cortex Code has reached an estimated 15-20% penetration among customers, leaving significant expansion potential
Consensus rating from Wall Street analysts stands at Strong Buy with a mean price target of $360.61
Snowflake has captured renewed investor attention following a significant price target adjustment from Cantor Fitzgerald. Analyst Thomas Blakey elevated his target by 44% to $405 from the prior $282 level, while maintaining his Buy recommendation. Currently trading around $324.60, SNOW shares are hovering close to their 52-week peak of $341.95.
The equity has experienced a remarkable 95% rally throughout the past six months, and Blakey maintains conviction that additional upside remains available as the company approaches its Q2 earnings disclosure on September 2.
The analyst’s optimistic stance stems from expanding valuation multiples within the software sector, especially for enterprises closely linked to agentic AI and data-intensive workflows. Blakey envisions Snowflake evolving into the dominant data and governance layer for organizations implementing AI agent technologies.
His market research indicates robust baseline consumption patterns alongside accelerating AI workload adoption, despite intensifying competitive dynamics and pricing pressures throughout the broader data and AI infrastructure landscape.
Blakey projects product revenue will surpass the guidance midpoint by more than 3%, a slight moderation from the previous quarter’s 5.5% outperformance. The company has delivered 31% revenue expansion over the trailing twelve-month period.
Cortex Code Fueling Additional Usage Growth
The adoption trajectory of Cortex Code emerged as a significant catalyst throughout Q2, with Blakey estimating current penetration at 15-20% of the total customer base. He identifies substantial opportunity as these implementations transition into full production environments.
Cortex AI has achieved broad utilization among major enterprise clients, while the CoWork offering is successfully extending Snowflake’s reach to less technical business users. Blakey highlighted that market participants will closely monitor whether these product innovations convert into durable consumption expansion.
Continuous cloud migration initiatives and the consolidation of data and AI workloads onto Snowflake’s governed infrastructure continue to contribute positive momentum.
The critical question approaching the earnings announcement centers on whether incremental AI-related spending will offset customer optimization initiatives, cost reduction measures, and contract renegotiations.
Street Expectations for Snowflake’s Q2 Performance
Blakey forecasts remaining performance obligation expansion of approximately 37%, aligning with consensus Street projections. He emphasized that Snowflake’s most significant contract renewals and purchasing activity typically occur in Q4, making quarterly timing an important consideration.
Regarding profitability metrics, Snowflake is anticipated to deliver results tracking closely with company guidance. Management has demonstrated willingness to absorb modest gross margin compression from higher-concentration AI workloads while simultaneously driving operating margin improvement.
The options market is currently implying approximately a 12% price movement in SNOW shares following the earnings announcement.
Several other analysts have similarly increased their targets in advance of the report. Benchmark elevated its target to $360, TD Cowen raised to $370 with a Buy rating, and Morgan Stanley reaffirmed its Overweight stance with a $300 target while projecting 34% product revenue growth for Q2. Guggenheim maintained its Neutral position.
The consensus Wall Street view on SNOW reflects a Strong Buy rating supported by 27 Buy recommendations and 3 Hold ratings issued over the most recent three-month period. The mean price target stands at $360.61, suggesting approximately 8.8% appreciation potential from present trading levels.
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TLDR
The European Commission designated ChatGPT as a Very Large Online Search Engine and Reddit and Roblox as Very Large Online Platforms under the Digital Services Act.
All three services reported at least 45 million average monthly users in the EU, the threshold for this level of oversight.
Companies have four months from notification, until January 2027, to assess and reduce risks tied to their platforms.
Breaking the rules can lead to fines of up to 6% of a company’s global annual turnover.
The EU is also reviewing its separate crypto rulebook, known as MiCA, in a process unrelated to this announcement.
The European Commission announced on August 31 that it has placed ChatGPT, Reddit and Roblox under stricter supervision through the Digital Services Act. This law applies extra rules to online services once they reach a certain size in the EU.
ChatGPT was labeled a Very Large Online Search Engine. Reddit and Roblox were labeled Very Large Online Platforms. These labels are based on user numbers, not on any wrongdoing by the companies.
Why These Three Services Were Chosen
Each company reported at least 45 million average monthly users in the EU. That figure is the cutoff point set by the Digital Services Act for this type of oversight.
ChatGPT recorded 159.1 million average monthly users in the EU. That number is smaller than Google Search, which reported 364 million users, but larger than Microsoft Bing, which reported 119 million.
Reddit reported 57.2 million average monthly EU users. Roblox reported 46.6 million, just above the required threshold.
ChatGPT was placed in the search engine category because it can pull information from the web to answer questions. Reddit and Roblox were placed in the platform category because they center on content that users create and share.
Henna Virkkunen, a Commission executive vice-president, said the designations reflect the size and reach of these services among EU citizens. She added that the Commission will keep watching other platforms and will designate any service that meets the threshold.
What the Companies Must Do Next
The three companies now have four months from the date they were formally notified. The Commission says that deadline falls in January 2027.
During that time, each company must study the risks linked to its service. This includes risks tied to illegal content, harm to minors, election-related content, public health, and public security.
After identifying these risks, each company must put measures in place to reduce them. National regulators will help oversee this process alongside the Commission.
Ireland’s media regulator will work with the Commission on ChatGPT and Reddit. The Dutch consumer and markets authority will do the same for Roblox.
Companies that fail to comply can face fines of up to 6% of their global annual turnover. Daily penalties can also apply for continued delays.
The Commission has issued fines under this law before. X was fined 120 million euros in December 2025 over transparency issues. AliExpress was fined 550 million euros in July 2026 for problems tied to unsafe or fake products sold on its platform.
Before any fine is issued, regulators can request internal data, question staff, and inspect company offices. In serious cases, access to a service could be restricted within the EU.
The Commission has not accused ChatGPT, Reddit or Roblox of breaking any rules. The designations are based only on user numbers.
Separately, the EU opened a review of its crypto rulebook, MiCA, in May. That review is looking at stablecoins and other crypto topics, but it is not connected to this week’s announcement.
With this update, 28 platforms and search engines now fall under the EU’s toughest tier of online supervision, up from 19 when the rules began in 2023.
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TLDR
Ireland will launch a new tax-friendly Investment Account for residents in 2027.
The account will cover listed stocks, bonds, ETFs and retail investment funds.
Crypto assets and derivatives are excluded from the account’s tax benefits.
Budget 2027 will confirm the tax-free threshold, flat tax rate and contribution limit.
Crypto trading stays legal in Ireland but won’t get the same tax treatment as stocks.
Ireland’s Department of Finance has published a roadmap for a new Investment Account. The account is designed to make investing simpler for ordinary savers.
It will be open to Irish tax residents aged 18 or older who hold a Personal Public Service Number. Each person can open one account through an approved provider.
The account will cover listed shares, listed bonds, and financial instruments traded on regulated markets. ETFs and some retail investment funds will also qualify.
Stocks Get a Simpler Tax Setup
Crypto assets and derivatives will not be part of the new account. The government described these products as highly complex and risky.
Providers, not individual investors, will calculate, report and pay any tax owed to Ireland’s Revenue Commissioners. This is meant to cut down on paperwork for everyday savers.
There will be no minimum contribution required to open an account. An annual contribution cap will apply, though the exact figure has not been set yet.
The tax-free threshold, flat tax rate, and contribution limit will all be announced in Budget 2027. That budget is due on Oct. 6.
Investments held in the account will skip Ireland’s current deemed-disposal rule. Under that rule, some funds are treated as sold after eight years, triggering tax even if the investor keeps holding them.
Tánaiste Simon Harris said Irish households save a lot but invest little compared with the rest of Europe. Central Bank of Ireland data shows Irish households hold just 2.3% of their financial assets in stocks and bonds, versus an EU average of 7.5%.
Harris said roughly €170 billion sits in Irish bank deposits. He argued that inflation can quietly erode the value of money left sitting in low-yield accounts.
Crypto Stays Legal, But Without Tax Perks
Excluding crypto means Irish residents won’t get preferential tax treatment for buying Bitcoin, Ether or other digital assets through the new account. Crypto trading itself remains allowed under separate EU rules.
The Central Bank of Ireland oversees crypto firms operating under the EU’s Markets in Crypto-Assets Regulation, known as MiCA. Ireland’s own MiCA transition period ended in December 2025, ahead of the wider EU deadline.
A separate Irish risk assessment published in June called digital assets a very high money laundering and terrorism financing risk. It pointed to crypto fraud, sanctions evasion and activity in decentralized finance as concerns.
Central bank figures cited in that assessment showed about 10% of Ireland’s population had invested in crypto as of December.
By comparison, some U.S. investors can already hold crypto inside self-directed retirement accounts. The Securities and Exchange Commission warns these accounts carry fraud, custody and valuation risks, since custodians don’t vet the investments themselves.
Ireland’s Finance Bill will carry the legal framework for the new Investment Account. Lawmakers also flagged possible future changes, including a lower investment tax rate and further simplification starting with Budget 2028.
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Key Takeaways
NIO shares plunged approximately 6% in overnight trading on Tuesday after declining 2.5% to $4.26 during Monday’s session.
The company posted 35,836 vehicle deliveries in August, marking a 14.5% year-over-year increase but representing a second consecutive monthly decline.
The Onvo sub-brand experienced a sharp 46.4% year-over-year decline and dropped 13.2% compared to July figures.
Analyst projections for Q2 point to revenues of $4.95 billion alongside an adjusted per-share loss of $0.02.
Goldman Sachs recently elevated NIO to a “buy” rating with a $7 price objective, while broader consensus maintains a “hold” stance at $6.57.
Shares of NIO closed Monday’s trading session at $4.26, representing a 2.5% decline, before plummeting an additional 6% in overnight markets ahead of Tuesday’s anticipated Q2 earnings release. The electric vehicle manufacturer endured a challenging August, with shares retreating 13% throughout the month—marking its steepest monthly decline since November and extending its losing streak to four consecutive months.
The pre-market selloff reflected growing investor concern over consecutive monthly delivery contractions, amplifying uncertainty surrounding the upcoming quarterly financial report.
In August, NIO reported deliveries totaling 35,836 vehicles, representing a 14.5% year-over-year gain but a 0.3% month-over-month decrease from July. This followed an 11.5% sequential contraction in July from June’s 40,597 unit figure. While the automaker has sustained deliveries above 35,000 units for four consecutive months, the sequential decline pattern has captured market attention.
Performance of the core NIO brand offered some encouragement. The flagship brand delivered 21,174 vehicles during August, surging 101.2% year-over-year and advancing 5.8% month-over-month from July. Its contribution to overall deliveries expanded to 59.1%, compared to 33.6% in the year-ago period.
Onvo Performance Weighs on Total Figures
The concerning narrative emerged from Onvo’s results. The family-oriented sub-brand managed only 8,810 vehicle deliveries in August, plunging 46.4% year-over-year and sliding 13.2% from the prior month. This marked Onvo’s third consecutive monthly sequential decline. The brand’s share of total deliveries contracted to 24.6%, down sharply from 52.5% during the same month last year.
NIO Inc. Achieves 14.5% YoY, with 35,836 Deliveries in August
In August 2026, NIO Inc. delivered 35,836 vehicles, representing an increase of 14.5% year-over-year. The deliveries consisted of 21,174 vehicles from the premium smart electric vehicle brand NIO, up 101.2%… pic.twitter.com/zLNx6KpvcB
— NIO (@NIOGlobal) September 1, 2026
Meanwhile, Firefly, the company’s third brand, contributed 5,852 vehicles, climbing 34.7% year-over-year and edging up 1.4% from July’s performance.
Year-to-date through August, NIO has accumulated 262,893 vehicle deliveries in 2026, representing a 57.9% increase versus the comparable period last year. Total lifetime deliveries have now surpassed 1.26 million vehicles.
Looking specifically at Q2, NIO recorded 107,658 vehicle deliveries, climbing 49.4% year-over-year but falling short of its self-imposed guidance range of 110,000 to 115,000 units. This guidance shortfall has contributed to investor caution ahead of the earnings announcement.
Consensus estimates on Wall Street anticipate Q2 revenues reaching $4.95 billion, representing a 33.8% jump from Q1’s $3.70 billion. Analysts are modeling an adjusted per-share loss of $0.02, contrasting with the breakeven result from the previous quarter. Expectations also include an EBITDA loss of $268.98 million and an operating loss of $93.96 million, expanding from the prior quarter’s $44.77 million deficit.
Battery-Swap Infrastructure Expansion Continues
Deutsche Bank takes a more bullish stance, forecasting Q2 non-GAAP net income of 180 million yuan (approximately $26.8 million), pointing to an improved product mix weighted toward higher-margin SUV models.
On the infrastructure development front, NIO inaugurated its 90th Power Journeys battery-swap corridor, a 989-kilometer circuit through Northern Shanxi province connecting prominent cultural landmarks such as the Yungang Grottoes and the Hanging Temple. The automaker has set an objective of establishing 100 Power Journeys routes within the current year.
NIO intends to deploy approximately 100 battery-swap stations monthly, accelerating to 150 stations per month by year-end, as part of an ambitious target to operate 8,000 stations by 2030. As of August 31, the company’s network included 4,100 battery-swap stations, 5,200 charging stations, and 30,200 charging piles. The infrastructure has facilitated over 120 million battery swap transactions to date.
Wall Street sentiment remains divided. Goldman Sachs elevated NIO to a “buy” rating in July with a $7 price objective. Bank of America maintains a “neutral” rating with a $6.80 target. According to MarketBeat data, the overall consensus rating stands at “hold” with an average price target of $6.57. Institutional ownership represents 48.55% of outstanding shares, with several entities including XY Capital and HighTower Advisors expanding their positions during Q2.
The post NIO (NIO) Stock Plunges 6% Pre-Market as Onvo Sales Stumble Before Q2 Report appeared first on Blockonomi.

TLDR
Polymarket is reportedly raising about $1 billion at a $21 billion valuation.
Donald Trump Jr.-linked 1789 Capital plans to invest roughly $300 million in the round.
1789 Capital previously put in about $200 million, bringing its total exposure near $500 million.
ICE, the New York Stock Exchange’s parent company, remains Polymarket’s largest investor with about 22% of shares.
State lawsuits over sports event contracts continue even as Polymarket expands its regulated U.S. business.
Polymarket is in talks to raise close to $1 billion in new funding. The deal would value the prediction market platform at about $21 billion once the money is added in.
The Wall Street Journal first reported the plans on Aug. 31. The report cited people familiar with the discussions.
A spokesperson for 1789 Capital confirmed the planned investment and valuation separately. The deal has not been finalized. The final size, list of investors and ownership split could still change.
1789 Capital’s Growing Stake
1789 Capital is expected to contribute about $300 million to the round. The firm is leading the broader raise, though other investors have not been named publicly.
NEW with @DanaMattioli @ceostroff: Donald Trump Jr's venture-capital fund is investing around $300M into Polymarket, making it one of the largest investors into the company.
(The firm, 1789, has already invested around $200M into Polymarket.) pic.twitter.com/Tdu1VtDxdq
— Neil Mehta (@neilmhta) August 31, 2026
This is not the firm’s first investment in Polymarket. It previously put in around $200 million, meaning its total commitment could reach close to $500 million.
Donald Trump Jr. joined 1789 Capital as a partner after the 2024 election. He later joined Polymarket’s advisory board.
He has also worked with Kalshi, a rival prediction market operator. This gives him ties to two competing platforms in the same industry.
Trump Jr. has said he invests as a private citizen. He has stated he holds no policy role in the current administration.
House Judiciary Committee Democrats are looking into 1789 Capital’s fast growth. The investigation does not accuse anyone of wrongdoing.
Valuation Climbs From $15 Billion
The new round would push Polymarket’s valuation to about $21 billion. That is up from roughly $15 billion after an earlier round closed in April.
This figure comes from private investors, not a public stock market. Polymarket has not released audited financial records that would let outsiders check the number independently.
ICE, the company that owns the New York Stock Exchange, remains Polymarket’s biggest backer. Its stake sits at about 22% of outstanding shares, based on the most recent disclosure.
ICE first agreed to invest up to $2 billion in October 2025. That deal valued Polymarket at about $8 billion at the time.
ICE added another $600 million in cash in March 2026. A recent securities filing showed ICE recorded a $389 million paper gain on its stake during the first quarter.
Neither Polymarket nor 1789 Capital has said whether the new shares are freshly issued or bought from existing holders.
Polymarket runs a global platform where people trade contracts tied to elections, sports and economic events. It also owns a U.S. business through its purchase of QCEX, which holds federal approval to run regulated markets.
The company’s international site once blocked U.S. users after a 2022 settlement with regulators. It paid a $1.4 million penalty at the time.
Sports contracts have become a large part of the business. World Cup related trading alone brought in billions in volume this year.
Legal fights are still unresolved. State regulators argue some sports contracts count as betting and need gambling licenses.
Courts across different states have ruled both ways on the matter. The new funding would give Polymarket more resources to cover legal costs, technology and competition with Kalshi.
Polymarket has no public stock and no confirmed company token. Any token claiming ties to the company should not be treated as legitimate without official confirmation.
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TLDR
Ark Invest bought 456,059 shares of Block Inc, worth about $37.4 million, on Monday.
Block stock fell 1.85% on Monday to close at $82.02.
Ark also bought 35,192 shares of Circle Internet Group, worth $3.36 million.
Circle stock surged 9.65% on Monday to close at $95.55, recovering from a drop last Friday.
Bernstein analysts set a $140 price target for Circle, pointing to growth in stablecoin adoption.
Cathie Wood’s Ark Invest bought shares in two companies on Monday. The firm added to its position in Block Inc and Circle Internet Group.
Ark purchased 456,059 shares of Block. The trade was worth about $37.4 million.
The shares were split across three funds. These included the Ark Innovation ETF, the Ark Next Generation Internet ETF, and the Ark Blockchain and Fintech Innovation ETF.
Ark follows a rule that limits how much of a single stock it can hold. No individual holding can make up more than 10% of a fund’s portfolio.
Block’s stock moved lower on the same day as the purchase. Shares fell 1.85% to close at $82.02.
Block’s Recent Results
This was not Ark’s first purchase of Block shares this year. The firm bought a large batch last month after the company released its second quarter results.
Block raised its full year profit forecast to $12.5 billion. That would mark 21% growth for the company.
The company posted revenue that beat expectations for the quarter. Still, some analysts have concerns about costs.
Analysts at Mizuho pointed to rising operating expenses. This comes even after the company cut 40% of its staff in February.
Block has been shifting toward an AI focused operation. The staff cuts were part of that change.
Circle Stock Rebounds
Ark also bought 35,192 shares of Circle Internet Group on Monday. The trade was worth $3.36 million.
Circle’s stock jumped 9.65% on Monday. Shares closed at $95.55.
The gain marked a recovery. Circle’s stock had dropped 7.5% the previous Friday.
Analysts at Bernstein gave Circle an Outperform rating last week. They set a price target of $140.
Bernstein pointed to growth potential in several areas. These include shifts in the macro regime, real world blockchain capital markets, and stablecoin payment adoption.
The firm also pointed to emerging use of stablecoins for agentic payments as a growth driver.
Circle’s stock is up 52.6% over the past month. Monday’s gain added to that climb.
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Key Highlights
Broadcom will announce Q3 FY26 financial results on September 2 following market hours.
J.P. Morgan maintains its Buy recommendation with a $580 price objective for AVGO.
Analysts project earnings per share of $3.22, representing a 90.5% annual increase, alongside revenue of $29.24 billion, up 83.3%.
BakerAvenue’s King Lip identifies AVGO as a leading investment opportunity, positioning it as the premier choice for customized AI semiconductors and inference applications.
Consensus among analysts shows Strong Buy, with a mean price objective of $511.88, suggesting 38% growth potential.
The semiconductor giant Broadcom is preparing to unveil its third-quarter fiscal year results on Wednesday, September 2, following the market’s close. Leading up to this announcement, AVGO stock is currently positioned over 25% beneath its peak valuation reached earlier this year.
Analyst forecasts indicate the semiconductor manufacturer will deliver earnings per share of $3.22, marking a substantial 90.5% increase compared to the previous year. Sales projections stand at $29.24 billion, representing an 83.3% climb from the corresponding quarter last year.
J.P. Morgan’s Harlan Sur has reaffirmed his Buy stance on AVGO in advance of the earnings release, maintaining his $580 price objective. Sur holds the No. 17 position among over 12,500 analysts monitored by TipRanks, boasting a 70% accuracy rate with average returns of 42.2% per assessment.
Sur anticipates the quarterly performance will benefit from the early deployment of next-generation TPU v8i processors and sustained momentum in TPU v7 sales. He also projects additional gains from Meta Platforms‘ MTIA Iris ASIC expansion and robust orders for Broadcom’s Tomahawk 5 switching technology.
Additionally, Sur forecasts FY26 AI-related revenue exceeding $56 billion, supported by an aggressive second-half acceleration in TPU v8i shipments and healthy networking sales, including the latest Tomahawk 6 102T switching system.
Google Partnership Worries Exaggerated, Expert Claims
AVGO shares have advanced just 7% since the beginning of the year, trailing the PHLX Semiconductor Index, which has climbed 61% during the identical timeframe. Sur connects this relative weakness to market anxiety regarding possible market share erosion at Google and uncertain visibility into FY27 AI revenue projections.
Sur maintains these worries are excessive. He references industry intelligence gathered during the past 90 days indicating Broadcom’s strategic position with Google stays secure. The recent collaboration between Google and Marvell Technology, he explains, represents Google diversifying its supplier base to bolster its in-house chip development rather than diminishing Broadcom’s role. A five-year partnership established in early April confirms Broadcom as Google’s principal TPU collaborator.
Critical topics for Wednesday’s earnings discussion include potential management updates to FY27 AI revenue projections, presently estimated above $100 billion, and signals regarding business trajectory into FY28.
Industry Experts Position AVGO as Premier Inference Investment
BakerAvenue’s chief strategist King Lip has also highlighted AVGO as a preferred investment before the earnings announcement, pointing to a fundamental transformation in AI infrastructure investment patterns. He observes the industry transitioning from training-centric applications toward inference operations, where specialized processors manage high-volume, recurring computational tasks.
“Nvidia has been great for training models, but for huge repetitive type workloads, AVGO is our top pick for the next evolution in custom AI chips and inference play,” Lip told CNBC.
Lip emphasized that Nvidia’s success doesn’t preclude Broadcom’s growth. Both companies address distinct segments within the AI hardware ecosystem.
Broadcom additionally offers a dividend yield of 0.71%, enhancing its attractiveness for extended investment horizons.
The collective Wall Street assessment for AVGO stands at Strong Buy, featuring 25 Buy recommendations and 3 Hold positions. The mean price objective of $511.88 indicates approximately 38% appreciation potential from present trading levels.
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TLDR
Uber has activated fully autonomous Apollo Go robotaxis from Baidu for paying customers in Dubai
Partnership with Pony.ai will bring over 2,000 autonomous taxis to European markets via Uber’s app
Current valuation sits at approximately 15x trailing free cash flow with 16.6 P/E ratio
Rosenblatt began coverage with Buy rating alongside $100 price objective
Analyst consensus shows Strong Buy with average $104.39 price target
Uber has commenced fully autonomous robotaxi service in Dubai using Baidu’s driverless technology, representing a significant milestone in the company’s self-driving vehicle roadmap. This deployment expands Uber’s autonomous vehicle partnerships operating within the emirate.
Shares of Uber are currently priced at $75.65, reflecting a 19% decline year-over-year. On September 1, Rosenblatt Securities launched coverage with a Buy recommendation and $100 price objective, characterizing the present valuation as an opportune entry level.
The research firm highlighted that autonomous vehicles represent under 0.5% of total trips currently, and the timeframe for substantial AV market disruption extends beyond initial market projections. This reality provides Uber with an extended adaptation period compared to earlier investor concerns.
Uber’s fundamental thesis remains straightforward: autonomous vehicle developers may determine it more economical to leverage Uber’s established customer network rather than construct independent platforms. Uber provides the passenger demand while partners contribute the self-driving fleet.
The Baidu collaboration is projected to expand to thousands of Apollo Go vehicles throughout Uber’s international operations. Additionally, Pony.ai announced plans this month to introduce more than 2,000 robotaxis across European cities through Uber’s application.
The Nevada Transportation Authority granted commercial robotaxi authorization to Uber recently, permitting deployment of up to 1,000 vehicles. Uber has also initiated autonomous ride services in Zagreb, Croatia, collaborating with Pony.ai and Verne.
Risks Investors Should Watch
Company leadership has allocated over $10 billion toward multiyear autonomous vehicle agreements. This represents a substantial departure from Uber’s conventional capital-efficient business model, where independent drivers furnish their own vehicles.
Should capital expenditures accelerate beyond revenue generation, it may constrain funds available for share repurchases and alternative shareholder returns. Market participants need to monitor whether robotaxi deployment enhances or diminishes overall profit margins.
Regulatory oversight presents an additional consideration. London’s anticipated driverless launch has encountered setbacks, demonstrating that governmental approvals can impede commercial deployment despite technological readiness.
A strategic question also exists regarding whether prominent AV manufacturers might ultimately circumvent Uber’s platform and operate proprietary applications in premium markets.
What Wall Street Says
Rosenblatt’s research indicates that AV adoption projections through upcoming years continue to justify attractive investment returns. InvestingPro similarly identifies the equity as undervalued.
Citizens maintained a Market Outperform designation with $100 price objective, highlighting robust delivery and mobility metrics alongside robotaxi network growth.
Uber is valued at approximately 15x trailing free cash flow, appearing attractive assuming the core marketplace maintains strength while autonomous trips contribute incremental volume.
Analyst consensus reflects a Strong Buy rating on UBER with 29 Buy recommendations, 3 Hold ratings, and zero Sell ratings during the previous three months. The mean price objective of $104.39 suggests approximately 38% appreciation potential from present levels.
Uber recently introduced a live video streaming capability for adolescent passengers, enabling parents to observe trips via the driver’s mobile camera.
The post Uber (UBER) Stock: Rosenblatt Initiates Buy Rating as Baidu Robotaxis Launch in Dubai Without Drivers appeared first on Blockonomi.

TLDR
Caroline Ellison and Nishad Singh invested a combined $50 million in Anthropic during its 2022 Series B round.
Federal courts finalized forfeiture orders in 2025, transferring their Anthropic shares to the US government.
Business Insider reports the US Marshals Service sold the combined holdings to existing Anthropic investors sometime in 2025.
Analysts estimate the shares could now be worth between $2.62 billion and $5.03 billion based on Anthropic’s latest valuation.
FTX victims have not received identified proceeds from the sale as of June 2026.
The US Marshals Service sold Anthropic shares once owned by former FTX executives Caroline Ellison and Nishad Singh sometime during 2025. Business Insider reported the sale on August 31, citing a person familiar with the transaction.
Ellison and Singh bought the shares in 2022 during Anthropic’s Series B financing round. Together they invested $50 million, with Singh putting in $40 million and Ellison contributing $10 million.
Neither the Marshals Service nor Anthropic has confirmed the sale publicly. No auction record, court filing, or official statement has identified the buyers or the sale price.
How the shares were forfeited
Ellison and Singh both pleaded guilty to criminal charges tied to the collapse of FTX and Alameda Research. They cooperated with prosecutors and testified against FTX founder Sam Bankman-Fried during his trial.
A jury convicted Bankman-Fried of fraud and money laundering in November 2023. A federal judge sentenced him to 25 years in prison in March 2024.
U.S. Government Sold Anthropic Stakes in 2025 That Former FTX Executives Bought Cheaply in 2022
According to Business Insider, the U.S. government seized Anthropic shares held by former FTX executives Caroline Ellison and Nishad Singh and sold them to existing investors in… pic.twitter.com/L8Bx3f0KGh
— Wu Blockchain (@WuBlockchain) August 31, 2026
Courts finalized Ellison’s forfeiture order in February 2025. It covered Series B preferred shares she acquired through an agreement purchased for $10 million in March 2022.
The government obtained Singh’s shares through a separate order in April 2025. His attorney said Singh bought the shares before joining the conspiracy and may have had a legitimate legal claim to them.
Singh still gave up the shares as part of his plea deal. His attorney told Business Insider that Singh wanted the proceeds to reach FTX victims quickly.
What the shares could be worth now
Business Insider reported that the Marshals Service sold the combined holdings to existing Anthropic investors during 2025. The exact date, buyers, and price were not disclosed.
Anthropic’s valuation climbed sharply during this period. The company was valued at $61.5 billion in March 2025, then reached $380 billion in early 2026.
Anthropic announced a $65 billion Series H round in May 2026 at a $965 billion valuation. It said its annualized revenue had passed $47 billion.
UCLA professor Olav Sorenson estimated the shares were worth between $300 million and $1.1 billion at the time of sale. PitchBook analyst Harrison Rolfes gave a lower range of $250 million to $630 million.
Using Anthropic’s May 2026 valuation, Sorenson estimated the shares would now be worth between $4.17 billion and $5.03 billion. Rolfes put the current figure closer to $2.62 billion.
The wide gap between estimates reflects uncertainty over dilution, share terms, and the exact number of shares involved. These are outside estimates, not figures confirmed by Anthropic or the government.
This sale is separate from the FTX bankruptcy estate’s own liquidation of Bankman-Fried’s Anthropic shares. That estate sold its remaining shares for $452 million in June 2024, bringing its total from Anthropic holdings to about $1.3 billion.
Prosecutors have said forfeited assets could reach victims through a remission process handled by the Justice Department. Business Insider found no evidence that proceeds tied specifically to Ellison and Singh’s shares had reached the bankruptcy estate by the end of June 2026.
The estate received $638 million from government-controlled assets in 2025, mostly from Robinhood shares linked to Bankman-Fried. It expects roughly $400 million more, though it has not listed the Anthropic sale as part of that amount.
The Marshals Service declined to discuss the transaction. A Justice Department representative said sale and compensation details remain confidential while the matter is still ongoing.
The post Anthropic Shares From FTX Case Could Be Worth Billions appeared first on Blockonomi.

Key Takeaways
Microsoft Azure and AWS now offer immediate, secure, high-speed private connections between their cloud ecosystems.
Enterprise clients can establish multicloud links within minutes using simple point-and-click interfaces, eliminating weeks-long deployment cycles.
The connection employs MACsec encryption alongside quad-redundant infrastructure to ensure maximum security and reliability.
Microsoft Azure becomes the third major cloud platform integrated into AWS Interconnect – multicloud, following Google Cloud and Oracle Cloud.
Analysts maintain Strong Buy recommendations for both stocks, projecting Amazon to reach $334.05 and Microsoft to hit $564.49.
In a development that addresses years of enterprise frustration, Amazon and Microsoft have introduced a streamlined solution for connecting cloud workloads between AWS and Azure platforms.
The partnership brings Azure Multicloud Interconnect for AWS to market, establishing a dedicated private channel between the world’s two dominant cloud infrastructures. Following the announcement, Amazon stock declined 2.50% while Microsoft shares retreated 1.22%.
This connectivity option expands AWS Interconnect – multicloud, initially introduced at re:Invent 2025. Microsoft Azure becomes the third significant cloud provider integrated into the platform, alongside Google Cloud and Oracle Cloud Infrastructure.
Deployment time has been slashed to mere minutes using intuitive point-and-click interfaces available in both the AWS Management Console and Azure portal. Traditional approaches required organizations to coordinate physical hardware, engage multiple vendors, and endure provisioning cycles spanning weeks to months.
$AMZN and $MSFT just launched direct private connectivity between AWS and Azure, letting customers link workloads in minutes instead of weeks through dedicated encrypted connections.
The service is live in preview across four regions and gives enterprises an easier way to run… pic.twitter.com/tvuzqYiZ72
— Sam Badawi (@Sam_Badawi) August 31, 2026
Security features are embedded throughout the architecture. The infrastructure leverages MACsec encryption between edge routers, safeguarding information throughout its journey between cloud environments. According to AWS, only providers meeting stringent security and availability standards qualify for integration.
Technical Architecture Breakdown
The underlying infrastructure utilizes four separate logical pathways distributed across physically distinct facilities. Should one router malfunction or an entire location experience failure, traffic continues uninterrupted. AWS refers to this as quad-redundant architecture, designed to achieve 99.99% availability.
The two technology giants employ a unified open API specification that manages network complexity behind the scenes. Users access a consolidated management interface instead of juggling separate tools for each cloud platform.
Robert Kennedy, AWS VP of Network Services, characterized traditional methods of linking AWS and Azure workloads as “clunky.” The objective centered on mutual dedication to elevated standards from both organizations.
Narayan Annamalai, Microsoft VP of Azure Networking, positioned the collaboration around empowering customers developing AI applications and data infrastructure spanning multiple cloud environments.
Enterprise Market Response
Organizations frequently operate across multiple cloud platforms not through strategic planning but via mergers and acquisitions, compliance mandates, or client specifications. Independent software vendors regularly deploy solutions wherever their customers maintain existing infrastructure.
Previous integration methods relied on public internet pathways or complicated third-party networking configurations. Both approaches presented significant limitations.
The shared open API specification enables additional cloud providers to implement identical standards without forcing customers to overhaul existing architectures.
Microsoft and AWS intend to broaden geographic availability and enhance bandwidth capabilities. AWS envisions a future where organizations construct global networks and connect to any cloud infrastructure through simplified interfaces.
Financial analysts continue expressing confidence in both companies. Amazon maintains a Strong Buy consensus from 39 analysts recommending purchase, with average price projections of $334.05, suggesting 28.6% potential gains. Microsoft receives Strong Buy ratings from 33 analysts, targeting $564.49, indicating 11.28% upside from present valuations.
The post Amazon (AMZN) and Microsoft (MSFT) Forge Direct Cloud Connection: Investment Implications appeared first on Blockonomi.

Key Takeaways
American Airlines commits to a one-time $1,000 employer match for the government’s Trump Account seed contribution for qualifying employee children.
530A accounts, known as Trump Accounts, are tax-advantaged savings vehicles for U.S. children under 18, featuring a $1,000 federal deposit for babies born 2025-2028.
More than 50 corporations have announced Trump Account matching programs, with Goldman Sachs and Morgan Stanley among participants.
Approximately 1.4 million children have been enrolled in Trump Accounts and are eligible for government seed funding.
Beginning in 2027, American Airlines will enable pretax payroll contributions of up to $2,500 per year to Trump Accounts.
American Airlines (AAL) has become the latest major employer to announce a Trump Account matching initiative for employees’ children. AAL stock holds a Moderate Buy consensus with analysts setting a $16.10 price target, despite trading down 1.54% on the announcement date.
The carrier plans to provide a one-time $1,000 employer contribution matching the federal government’s seed deposit for each qualifying child of its workforce. The benefit is expected to reach thousands of children of American Airlines personnel.
Chief Executive Officer Robert Isom framed the initiative as consistent with the company’s mission of supporting people throughout life’s journey, emphasizing the importance of helping team members establish long-term financial stability for their families.
American Airlines now stands among more than 50 corporations that have announced some form of Trump Account support. Financial giants Goldman Sachs and Morgan Stanley have similarly pledged full matches of the government’s $1,000 initial deposit.
Trump Accounts, formally designated as 530A accounts, function as tax-deferred investment vehicles designed for American children under age 18. Families of infants born during the 2025-2028 window who establish an account automatically receive the $1,000 federal contribution.
Once the account is established, parents, legal guardians, grandparents, and other contributors can deposit up to $5,000 annually until the calendar year preceding the child’s 18th birthday.
Pretax Payroll Deduction Program Launching 2027
The Treasury Department has put forward proposed regulations enabling employers to facilitate pretax payroll contributions to employees’ children’s Trump Accounts. American Airlines intends to implement this benefit once regulatory approval is complete.
From 2027 forward, qualifying American Airlines team members will gain the ability to direct up to $2,500 in pretax compensation each year into a Trump Account. Approximately one-third of the airline’s roughly 140,000 worldwide workforce will be eligible for this program.
Treasury Secretary Scott Bessent praised the announcement, noting that it was positive to see major corporations stepping forward to back the initiative.
Eligibility Details
Current Treasury Department figures show that approximately 1.4 million children have been enrolled in Trump Accounts and qualify for the federal seed contribution.
American Airlines has not disclosed the precise number of employee children expected to be eligible but indicated the figure will be in the thousands.
Financial advisors typically suggest taking advantage of Trump Account enrollment when employers or government entities are providing complimentary contributions.
The airline’s comprehensive matching structure positions it among the more robust corporate Trump Account programs, pairing an immediate employer match with upcoming pretax payroll contribution capabilities.
American Airlines’ current global headcount stands at nearly 140,000 employees.
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Quick Overview
Federal regulators and 22 states launched legal action against Amazon Monday, alleging systematic inflation of advertising costs
The e-commerce giant allegedly manipulated minimum bid prices in online ad auctions without advertiser knowledge
Regulators claim more than $20 billion in excess charges to 1.2 million advertisers following 2019 policy changes
The complaint states Amazon directly interfered in as many as 80% of sponsored product advertising auctions
Federal authorities are pursuing damages in the “tens of billions”; Amazon firmly rejects all allegations
Federal regulators joined forces with 22 states from both political parties Monday to file legal action against Amazon, alleging the company orchestrated a multi-year operation to artificially inflate advertising costs for over one million businesses.
FTC & 22 STATES TO SUE $AMZN OVER ALLEGED SECRET AD PRICE HIKES
The FTC is expected to allege Amazon manipulated its ad auctions by inserting its own “soft reserve” bid above the runner-up bid, effectively raising the minimum price advertisers had to pay.
The practice… pic.twitter.com/ffXicNdmxx
— Wall St Engine (@wallstengine) August 31, 2026
The legal filing was submitted to the U.S. District Court for the Western District of Washington.
The Core Allegations Against Amazon
The lawsuit focuses on three advertising categories: sponsored products, branded advertisements, and display advertisements. These promotional placements surface next to search results when customers browse for items on Amazon.
Federal regulators allege Amazon modified its bidding system in 2019 and subsequently began covertly increasing the floor prices required to secure advertising positions.
The legal filing claims Amazon occasionally submitted its own competing bids within these auctions, artificially elevating expenses for other advertisers operating in the dark.
The FTC asserts that Amazon directly manipulated up to 80% of all sponsored product advertising auctions.
As advertisers faced higher costs, businesses compensated by raising product prices, ultimately passing those expenses onto shoppers, regulators contend.
Federal authorities estimate advertisers were excessively charged by no less than $20 billion and are pursuing total damages in the “tens of billions.”
Amazon’s Defense
The company rejected these claims in a statement released Monday on its corporate blog.
Amazon maintains its advertising framework prioritizes displaying the most pertinent ads to customers rather than artificially boosting expenses.
The tech giant reported that average cost-per-click metrics remained unchanged from 2019 through 2024, while conversion revenue from those clicks actually increased.
Amazon further stated it delivered approximately $8 billion in savings to advertisers spanning 2021 to 2025, noting that average successful bids for sponsored product search advertisements declined by 50% between 2019 and 2025.
“Amazon’s approach to pricing contradicts any suggestion of consumer harm,” the company said.
This represents the second major FTC legal challenge Amazon currently faces, with another lawsuit targeting alleged monopolistic pricing practices and third-party seller relationships scheduled for trial next year.
In a previous settlement last year, Amazon paid $2.5 billion to resolve FTC accusations of misleading customers into Prime membership subscriptions.
Amazon currently ranks as the third-largest digital advertising platform globally, trailing only Google and Meta. The company’s advertising revenue surged 26% during the second quarter of this year, reaching $19.8 billion.
Amazon stock declined approximately 2.5% Monday after the lawsuit became public.
The post Amazon Faces $20 Billion Lawsuit Over Alleged Ad Auction Price Manipulation appeared first on Blockonomi.

Key Takeaways
Shares of PANW climbed over 3% Monday before the company’s Q4 FY26 earnings announcement scheduled for after the closing bell on September 1.
Evercore maintained its Buy recommendation with a price target of $415, anticipating strong quarterly performance from Palo Alto Networks.
Analyst consensus calls for Q4 revenue reaching $3.35 billion, representing a 32% year-over-year increase and a potential all-time high for the company.
Earnings per share projections stand at $0.98, marking a 3.2% annual gain; the company has surpassed EPS expectations for six consecutive quarters.
The Street maintains a Strong Buy rating on PANW with 37 Buy recommendations and 5 Hold ratings, though shares declined following four of the past five quarterly reports.
Palo Alto Networks is scheduled to unveil its Q4 FY26 financial results after the market closes Tuesday, September 1. On Monday, shares traded at $381.65, climbing approximately 2.7%, positioning within its 52-week trading band of $139.57 to $398.87.
Year-to-date in 2026, PANW shares have surged approximately 109%, bringing the stock close to record territory heading into the earnings announcement.
The Street anticipates Q4 revenue of $3.35 billion, compared to $2.54 billion in the corresponding period last year. This would establish a new company milestone, exceeding the $3.00 billion registered in Q3.
Analysts project earnings per share of $0.98, an improvement from $0.95 in the prior-year quarter. Palo Alto has exceeded EPS projections for six consecutive quarters and eight of the previous ten reporting periods.
Evercore analyst Peter Levine confirmed his Buy rating with a $415 target price ahead of the results. He highlighted robust pipeline development and ongoing platformization momentum as primary catalysts.
Levine referenced survey findings indicating a more optimistic sentiment compared to previous quarters. Feedback from partners suggested strengthening pipelines and anticipated revenue growth acceleration throughout the coming year.
Activity in large enterprise deals increased sequentially, fueled by platformization dynamics and heightened interest in AI security solutions. Levine anticipates potential upside to Q4 product revenue, supported by Q3’s record hardware appliance backlog and price increases implemented in April.
A particularly notable data point from channel research: 67% of partners characterized AI-related cybersecurity threats as urgent priorities, a substantial increase from merely 26% during Q3 FY26.
Price Target Updates from Wall Street
Several analysts increased their price objectives before the earnings release. Jefferies elevated its target from $335 to $450, BMO Capital adjusted upward from $335 to $415, JPMorgan raised its forecast from $326 to $384, and Benchmark increased from $340 to $400. BTIG maintained its $380 target.
The consensus Street rating is Strong Buy, comprising 37 Buy recommendations and 5 Hold ratings. The mean price target stands at $374.68.
Critical Factors to Monitor
Despite optimistic sentiment, several considerations warrant attention. Freedom Capital Markets strategist Jay Woods highlighted that PANW shares declined following four of the previous five earnings announcements.
Woods also observed the stock’s failure to establish new highs despite CrowdStrike’s impressive performance last week, even after an initial gap higher. Technical indicators including RSI and MACD are displaying bearish divergences, which Woods suggests can emerge at momentum inflection points.
He identified $390 as a recent resistance level and $330 as a support zone. A solid quarterly report that nevertheless fails to produce fresh closing highs might indicate impending weakness.
CrowdStrike delivered its strongest quarterly performance in company history last week, establishing elevated expectations for cybersecurity sector peers. PANW represents the largest holding in both the Amplify Cybersecurity ETF (HACK) at 6.3% and the First Trust Nasdaq Cybersecurity ETF (CIBR) at 9.2%.
Market participants and analysts will concentrate on whether the company delivers a dual beat on revenue and earnings, bookings momentum, and forward guidance for fiscal year 2027.
Palo Alto Networks increased its full-year outlook following Q3 results, intensifying expectations for Tuesday’s announcement.
The post Palo Alto Networks (PANW) Earnings Preview: What Analysts Predict for Q4 FY26 appeared first on Blockonomi.

TLDR:
The Ripple SettleMint partnership combines institutional custody with tokenised asset issuance, compliance, settlement and servicing.
The joint platform begins in Asia Pacific, while both companies plan to enter other regulated markets as institutional demand develops.
Ripple Custody supplies policy controls and key management, while SettleMint DALP governs tokenised assets throughout their lifecycle.
The announcement names no customers, prices, contract values, supported blockchains, production dates or initial transaction volumes.
Ripple and SettleMint have launched an integrated platform for regulated institutions seeking to issue and securely manage tokenised assets. The Ripple SettleMint partnership combines Ripple Custody with SettleMint’s Digital Asset Lifecycle Platform, or DALP. Banks, market infrastructure providers, and sovereign entities can use one system for custody, issuance, compliance, settlement, and servicing. The companies began offering the solution across Asia Pacific on Sept. 1.
They plan to enter other markets as demand develops. The announcement reflects growing institutional interest in unified blockchain infrastructure. It also addresses a common problem: connecting separate vendors across the full lifecycle of a digital asset.
Ripple SettleMint Partnership Starts Across Asia Pacific
The Ripple SettleMint partnership begins in Asia Pacific, its first market. Ripple and SettleMint did not identify customers, countries, or implementation schedules. They also withheld pricing, volumes, and contract values. Those omissions leave commercial adoption largely unmeasured at launch.
Today, we’re proud to announce a landmark partnership between SettleMint and @Ripple that offers regulated financial institutions a single, connected foundation for digital asset custody, issuance and lifecycle management.
Read the announcement: https://t.co/QkLvqg50Xl pic.twitter.com/1CVO1wCakf
— SettleMint (@SettleMintCom) September 1, 2026
Fiona Murray, Ripple’s Asia Pacific managing director, said institutions want to expand digital asset use without joining separate systems. Ripple Custody would hold and govern assets, while DALP would manage each asset throughout its lifecycle. This structure targets regulated firms needing clear operational controls.
The Ripple SettleMint partnership does not require the XRP Ledger, XRP, or Ripple’s RLUSD stablecoin. The announcement currently names no supported blockchain networks. Therefore, the agreement does not establish direct demand for XRP. Each institution’s network, legal structure, and existing systems will shape deployment.
Ripple already tests custody infrastructure with financial institutions in the region. Kyobo Life, for example, has tested settlement for tokenised Korean government bonds through Ripple Custody. That pilot has no reported volume or commercial launch date.
The strategy follows tokenisation programs across Asia Pacific. Banks and asset managers there have tested tokenised funds, programmable collateral, and stablecoin settlement. A separate arrangement involving DBS and Franklin Templeton paired a tokenised money market fund with RLUSD. Future work may explore lending and repurchase transactions backed by tokenised fund units.
Unified Tokenisation Platform Covers the Asset Lifecycle
The Ripple SettleMint partnership places Ripple Custody at the security and governance layer. Institutions can hold and transfer cryptocurrencies, stablecoins, and tokenised real-world assets. Configurable access controls, policy enforcement, and approval workflows support institutional operating requirements.
Ripple describes the platform as self-custody infrastructure installed within an institution’s own technology environment. Under that model, the institution retains private-key control. The service supports hardware security modules and multi-party computation for key management. Ripple lists FIPS 140-2 Level 4, ISO 27001, and SOC 2 Type II credentials.
SettleMint’s DALP handles product design, issuance, compliance, permissioning, settlement, and post-issuance servicing. Institutions can apply governance rules throughout the asset lifecycle. The platform also manages investor eligibility, ownership records, transfers, corporate actions, and redemptions.
By linking both systems, the Ripple SettleMint partnership seeks to reduce reliance on separate providers. External integrations may still be necessary. Requirements will vary by jurisdiction, blockchain network, and each institution’s legacy infrastructure.
The agreement adds lifecycle management to Ripple’s expanding custody network. Ripple acquired wallet and custody provider Palisade in November 2025. It later added Securosys for key protection and Figment for institutional staking. A Chainalysis integration provides transaction monitoring and compliance tools.
SettleMint uses DALP in pilots and production programs across North America, Europe, the Middle East, and Asia Pacific. The Ripple SettleMint partnership extends that platform through an integrated custody layer for regulated markets.
The companies cite a May 2026 Boston Consulting Group forecast that tokenised real-world assets could reach $88 trillion by 2035. The progressive scenario represents 16% of global investable assets. BCG valued publicly visible tokenised assets near $30 billion when preparing the report. The forecast also warns that banks slow to adapt could face profit declines of up to 30% by 2035.
The post Ripple SettleMint Partnership Launches Tokenised Asset Platform appeared first on Blockonomi.

Key Points
Apple has submitted fresh legal filings accusing OpenAI of intentionally eliminating evidence in a trade secrets dispute
Ex-Apple engineer Chang Liu is accused of downloading proprietary Apple circuit designs and utilizing them while employed at OpenAI
Digital forensics conducted on Liu’s company-issued MacBook revealed persistent unauthorized access to Apple’s cloud infrastructure following his departure
According to Apple, Liu directed an OpenAI coworker to eliminate evidence, with the colleague reportedly consenting
The case is scheduled for judicial review on October 1 before a federal judge
Apple has intensified its ongoing litigation against OpenAI by submitting fresh court filings that allege deliberate evidence destruction in a corporate espionage case.
Apple claims in a new court filing that @OpenAI is actively destroying crucial evidence in trade secrets case.
Apple's lawyers say an initial forensic analysis of an Apple-issued MacBook used by a former iPhone engineer found evidence that he and others at OpenAI were aware of… pic.twitter.com/Fs2RiZo9Gg
— Sawyer Merritt (@SawyerMerritt) August 31, 2026
The dispute revolves around Chang Liu, a former Apple hardware engineer who departed the iPhone maker in January to take a position at OpenAI. According to Apple’s filings, Liu represents just one of over 400 ex-Apple personnel currently employed by the artificial intelligence company.
The tech giant’s most recent submission was filed on Monday to bolster its request for accelerated discovery proceedings. Apple contends that rapid evidence collection is essential, suggesting additional employees may have participated in similar activities.
Forensic Examination Findings
Following its surrender to Apple’s attorneys, Liu’s company-issued MacBook underwent comprehensive forensic examination. According to Apple, the analysis produced what the company characterizes as its most compelling evidence to date.
According to the filing, Liu obtained a proprietary Apple circuit schematic document and subsequently incorporated it into projects at OpenAI. The forensic investigation also uncovered that Liu maintained active access to Apple’s external cloud storage systems well after his employment termination.
Apple contends that Liu and additional OpenAI personnel were fully cognizant of this improper access. The filing highlights that OpenAI delayed turning over the laptop for several weeks before finally complying.
The most damaging allegation involves Liu allegedly instructing an OpenAI colleague to eliminate evidence once he became aware of the investigation. The colleague, named as Yu-Ting Peng, reportedly acknowledged and agreed to follow through with the request, according to Apple’s documentation.
Apple maintains the laptop serves as proof that “trade secrets are being used and evidence is being destroyed,” representing one of the few pieces of evidence OpenAI has provided during discovery.
OpenAI Disputes Apple’s Claims
OpenAI has categorically rejected the accusations and is seeking dismissal of the entire case. The AI company maintains it adhered to conventional hiring protocols when recruiting former Apple employees.
According to OpenAI’s defense, Liu only accessed Apple’s files post-employment to provide assistance to previous coworkers who had requested his help. The company has provided text message exchanges as supporting documentation.
OpenAI has additionally asserted that Liu’s ongoing access resulted from Apple’s failure to properly revoke system credentials upon his exit. Conversely, Apple maintains Liu took advantage of “a rare, previously unknown authentication bug.”
Apple contends OpenAI has consistently delayed providing evidence throughout the litigation process.
Apple’s filing also alleges Liu utilized a software tool at OpenAI bearing an identical name to a proprietary Apple engineering application. The filing does not elaborate on the nature or function of this tool.
Relations between Apple and OpenAI have deteriorated significantly over recent months. The friction intensified following OpenAI’s recruitment of former Apple design executive Jony Ive to assist in developing consumer hardware products.
Reports indicate OpenAI’s inaugural hardware offering will be a doughnut-shaped intelligent speaker roughly the size of a hockey puck, featuring mechanical components.
Apple is pursuing financial compensation and requesting a judicial injunction preventing OpenAI from utilizing any misappropriated intellectual property.
The federal judge overseeing the case will consider Apple’s expedited discovery motion during an October 1 hearing.
The post Apple (AAPL) Accuses OpenAI of Evidence Tampering in Trade Secrets Dispute appeared first on Blockonomi.

Key Takeaways
Tesla shares surged nearly 5% as market attention shifted to robotaxi development and self-driving technology
Musk announced on X that both SpaceX and Tesla are constructing 100 gigawatts annually of solar production infrastructure
Despite FSD beta users reporting challenges with detecting potholes and road hazards, investors remained optimistic about long-term prospects
Q2 revenue reached $28.24 billion, surpassing projections, though EPS of $0.33 fell short of the $0.50 analyst forecast
Year-to-date, TSLA has declined 15.9% and currently trades 24.8% beneath its 52-week peak of $489.88
Tesla (TSLA) shares climbed approximately 5% during Monday’s trading session, reaching $368.38, as market participants placed their bets on the company’s autonomous vehicle future and expanding renewable energy initiatives.
The upward momentum coincided with renewed investor focus on Tesla’s Full Self-Driving technology platform and the company’s forthcoming autonomous taxi service. While beta program participants have identified persistent challenges with the FSD system’s ability to navigate potholes and road debris, the broader market demonstrated willingness to overlook these near-term technical hurdles.
CEO Elon Musk contributed to the positive sentiment through weekend social media activity. His post on X revealed that both SpaceX and Tesla are each constructing 100 gigawatts yearly of solar generation capability. This positioning connects Tesla more directly to the artificial intelligence infrastructure narrative that has attracted significant investor capital across multiple sectors.
Less than two weeks prior to Monday’s rally, Tesla experienced a 3.5% gain following the disclosure of permit documents indicating the company’s construction of a specialized wireless charging facility for its Cybercab autonomous vehicle fleet in Austin, Texas.
Strong Revenue Offset by Profit Concerns
Tesla’s latest quarterly financial report, published on July 22nd, revealed revenue totaling $28.24 billion. This figure exceeded Wall Street’s consensus projection of $26.42 billion and represented a year-over-year growth rate of 25.5%.
However, the company’s earnings per share registered at $0.33, significantly trailing the analyst consensus of $0.50. This EPS figure remained unchanged from the comparable period one year prior, prompting concerns regarding the company’s profitability trajectory and margin expansion.
Wall Street analysts maintain an average price objective of $401.74 for Tesla stock, with an overall “Hold” consensus rating. Cantor Fitzgerald carries an “overweight” stance with a $485 price target. Deutsche Bank projects $420. Jefferies maintains a “hold” recommendation with a $400 target price.
Cybercab Unveiling and Humanoid Robot Production
Investor excitement continues building ahead of Tesla’s upcoming Cybercab demonstration in Austin, where the automaker plans to unveil a two-passenger autonomous vehicle designed without traditional steering wheels or pedal controls.
Additionally, Tesla has initiated manufacturing of its Optimus humanoid robot platform, strengthening the investment thesis that the company’s future extends well beyond traditional automotive manufacturing.
Investment Firm Moves and Executive Trading
During the second quarter, First National Bank of Omaha acquired 29,055 Tesla shares with an estimated value of $12.15 million. Institutional investment firms now control 66.2% of outstanding Tesla stock.
Chief Financial Officer Vaibhav Taneja divested 2,606 shares on June 8th at $402.20 per share, generating proceeds of roughly $1.05 million. This transaction was executed to satisfy tax obligations related to vesting equity compensation and decreased his stake by 10.57%.
Tesla has allocated approximately $25 billion for its 2026 capital expenditure program, with funds designated for Optimus robot development and robotaxi infrastructure. Industry analysts have cautioned that any delays in commercializing these initiatives could create cash flow pressure.
The stock’s 52-week trading range extends from a low of $297.38 to its current level, with the company commanding a market capitalization of $1.45 trillion. Tesla’s price-to-earnings ratio of 340.70 underscores the extent to which its valuation depends on projected future performance rather than present financial results.
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Key Highlights
Lambda and Anthropic have finalized a $35 billion cloud computing partnership, with Lambda receiving backing from Nvidia
The Texas facility in Nueces County is under development by Hut 8, with Nvidia securing the lease arrangement
This partnership adds to Anthropic’s recent infrastructure agreements totaling $45 billion with Nscale and $50 billion with Fluidstack
Nvidia continues leveraging its capital position to facilitate access to computing infrastructure for companies below investment-grade status
Lambda is currently pursuing additional funding of up to $3 billion, targeting a valuation exceeding $12 billion
In a significant infrastructure move, Anthropic has finalized a $35 billion cloud computing partnership with Lambda, a cloud services company with Nvidia backing. The arrangement provides Anthropic with access to a data center facility currently under construction in Nueces County, Texas.
ANTHROPIC SIGNS $35B CLOUD DEAL WITH NVIDIA-BACKED LAMBDA: WSJ$NVDA will supply the chips and is leasing the underlying 700MW Texas data-center campus from $HUT, while Lambda will provide the compute to Anthropic.
Hut 8 had already disclosed 15-year leases covering the entire… pic.twitter.com/5DK19cnGhP
— Wall St Engine (@wallstengine) August 31, 2026
The facility’s construction is being managed by Hut 8, a company with roots in bitcoin mining that has expanded into data center development. Nvidia has entered into a distinct agreement with Hut 8 to lock in the capacity, maintaining control of the lease for the property.
Lambda’s strategy involves utilizing the Hut 8 facility to house processors acquired from Nvidia, which also maintains an investment stake in Lambda. The specific financial terms Lambda will pay Nvidia for facility access remain undisclosed.
This partnership represents one component of Anthropic’s aggressive strategy to scale up its computing infrastructure. The AI company encountered capacity constraints earlier this year as user demand for its services surged.
Just in recent weeks, Anthropic committed $45 billion to lease computing power from Nscale’s West Virginia operations. Additional agreements include a $50 billion commitment with Fluidstack and a $45 billion arrangement with SpaceX.
The Texas deal structure reveals growing complexity in AI infrastructure financing. It demonstrates how Nvidia is progressively acting as a facilitator for companies lacking investment-grade ratings to access its high-cost computing systems.
Last July, Nvidia unveiled an initiative providing credit assistance to cloud service providers such as Lambda, exchanging support for revenue-sharing arrangements. The company has temporarily suspended certain agreements under this initiative. Whether Lambda must share Texas facility revenues with Nvidia remains unconfirmed.
Hut 8’s Strategic Position
Hut 8 is simultaneously constructing additional data centers for Anthropic that will accommodate Google’s tensor processing units, which compete directly with Nvidia processors. Google has extended financial backing to support Hut 8’s debt financing for these initiatives.
Last July, Hut 8 revealed that a “high-investment-grade company” had executed 15-year lease agreements covering its complete 700-megawatt Texas campus. While the tenant’s identity wasn’t disclosed initially, the company confirmed the $20 billion development would accommodate Nvidia processors.
Lambda has experienced rapid expansion recently. The company secured over $1.5 billion during a November funding round last year and established a partnership with Microsoft to deploy AI systems featuring tens of thousands of Nvidia chips.
Currently, Lambda is pursuing an additional capital raise of up to $3 billion, seeking a company valuation of $12 billion or beyond.
Anthropic has declined commentary regarding the partnership. Nvidia, Lambda, and Hut 8 have not provided responses to inquiries.
The Texas facility agreement underscores the rapid pace at which Anthropic is securing computing resources to power its Claude AI platform.
The post Anthropic Secures Massive $35B Cloud Partnership With Lambda in Texas Expansion appeared first on Blockonomi.

TLDR
Japanese 10-year government bond yields surpassed the 3% threshold for the first time in 28 years, sparking widespread selling across global fixed income markets
Rising oil costs driven by escalating Middle Eastern conflicts are intensifying inflation concerns and expectations for aggressive monetary tightening
American 10-year Treasury yields surged to 4.786%, marking the highest point since January of the previous year
German 10-year bond yields reached 3.34%, the highest level recorded since 2011, while Australian markets experienced similar upward pressure
Market participants are now anticipating a rate increase from the Bank of Japan during its upcoming monthly policy meeting
International fixed income markets experienced significant turbulence on Tuesday after Japan’s benchmark 10-year government bond yield breached the 3% barrier for the first time since September 1996. The dramatic movement sent shockwaves through financial centers including Tokyo, Sydney, New York, and London.
BREAKING: Bond yields are hitting MULTI-YEAR highs across the world, and only ONE country is going the other way.
While the US, Japan and Europe brace for higher rates, China's 10-year yield is the only one falling among major economies as Beijing continues to ease.
Japan:… pic.twitter.com/FPzxJ9RaPs
— Coin Bureau (@coinbureau) September 1, 2026
Multiple converging factors are fueling the widespread selloff. Escalating tensions across the Middle East are driving crude oil prices upward, intensifying concerns about renewed inflationary pressures. Market participants are now pricing in the likelihood that major central banks will implement interest rate increases more aggressively than previously anticipated.
Japan’s five-year government bond yield simultaneously touched a new all-time high of 2.26%, while two-year yields climbed to 1.795%, representing a 31-year peak. These synchronized movements indicate a fundamental reassessment of risk associated with Japanese sovereign debt instruments.
During Asian trading sessions, U.S. 10-year Treasury yields advanced to 4.786%, representing the highest point witnessed since January of the prior year. Meanwhile, Germany’s benchmark 10-year bund yield escalated to 3.34%, marking its most elevated level since 2011.
Australian debt markets weren’t spared from the turbulence. The nation’s 10-year government bond yields experienced their most dramatic single-session increase in five months. Market observers attributed a portion of this movement to growing apprehension that elevated Japanese yields might diminish Japanese institutional appetite for Australian sovereign debt.
Monetary Authorities Face Mounting Expectations
The Bank of Japan is widely anticipated to implement a rate increase during its scheduled policy meeting later this month. Central bank officials have adopted increasingly restrictive rhetoric in recent communications. U.S. Treasury Secretary Scott Bessent has even openly advocated for the Bank of Japan to pursue tighter monetary conditions.
The U.S. Federal Reserve remains under intense market scrutiny. Fed Chair Kevin Warsh adopted a notably restrictive tone during his address at the prestigious annual Jackson Hole economic symposium, elevating market expectations for imminent policy tightening within the United States.
Andrew Lilley, chief rates strategist at Barrenjoey, emphasized that a substantial portion of the international selloff represents a fundamental recalibration of Federal Reserve policy trajectory expectations. He cautioned that central banking institutions face the genuine risk of lagging behind necessary tightening measures.
Debt Issuance Wave Compounds Market Strain
The bond market is simultaneously contending with an unprecedented wave of new debt issuance. Technology sector companies are mobilizing substantial capital to finance ambitious artificial intelligence initiatives, supplementing an already congested calendar of sovereign and corporate debt offerings.
America’s outstanding government debt has now eclipsed the $40 trillion milestone. Japanese government ministries are projected to request unprecedented budgetary allocations for the upcoming fiscal period. This convergence is compelling investors to demand substantially higher yield premiums as compensation for absorbing additional debt exposure.
Masahiko Loo, senior fixed income strategist at State Street Investment Management, observed that market participants have redirected their attention away from economic growth considerations toward inflation dynamics and supply constraints. He emphasized that sovereign issuance requirements and corporate financing demands are increasingly competing for a finite pool of available capital.
Prashant Newnaha, senior rates strategist at TD Securities, characterized the movement in Japanese yields as representing a “genuine regime change.” He noted that Japanese government bonds historically served as a stabilizing anchor for global fixed income markets over an extended period, but that foundational relationship has now fundamentally transformed.
The 3% threshold on Japan’s 10-year government bond represents a critical psychological benchmark for market participants. Strategists suggest that continued upward movement could trigger substantial capital reallocation back into Japanese domestic assets, potentially withdrawing liquidity from international markets that have historically depended heavily on Japanese institutional investment flows.
The post Global Bond Markets Plunge as Japanese Yields Hit Historic 3% Milestone appeared first on Blockonomi.

Key Points
Andrew Macdonald, Uber’s President, forecasts that driver’s licenses and personal car ownership will become obsolete in 15-20 years
Macdonald describes privately owned vehicles as extremely inefficient assets, unused 98% of the time
The cost of new vehicles has surged 30% in the last six years, diminishing the appeal of ownership
Uber has abandoned its in-house self-driving car development, choosing instead to collaborate with Waymo and Waabi
CEO Dara Khosrowshahi supports this timeline, suggesting robots could handle the majority of rides
A senior executive at Uber believes we’re approaching the twilight of an American tradition: owning cars and holding driver’s licenses may soon become relics of the past as self-driving technology and shared transportation redefine mobility.
A Transportation Revolution on the Horizon
During an appearance on entrepreneur Harry Stebbings’ 20VC podcast, Andrew Macdonald, who serves as Uber’s President and Chief Operating Officer, outlined his vision for transportation’s future.
According to Macdonald, the next 15 to 20 years will witness a dramatic transformation where bicycles, electric scooters, mass transit systems, and self-driving cars replace personal vehicle ownership for most individuals.
“Nobody’s going to have their driver’s license because you’ll be able to get around,” Macdonald said.
This prediction challenges a deeply ingrained cultural milestone. For countless American teenagers, obtaining a driver’s license at age 16 represents freedom and independence. Macdonald suggests this tradition may become obsolete as transportation alternatives proliferate.
The economics of car ownership increasingly support this shift. Vehicle prices have jumped 30% in just six years, while cars remain parked and unused for the vast majority of their existence.
“The individually owned car is the most inefficient asset that anyone owns,” Macdonald said. “It sits idle 98% of the day. It’s depreciating. The ongoing operating costs are actually high.”
Beyond the purchase price, vehicle owners face continuous expenses including insurance premiums and maintenance, even during periods when their cars aren’t being driven.
Uber’s Pivot to Platform Provider
Uber has fundamentally changed its approach to autonomous vehicles. Rather than investing in proprietary self-driving technology, the company now focuses on serving as a marketplace connecting autonomous vehicle providers with customers.
The ride-hailing giant has forged partnerships with Waymo and Waabi to integrate their autonomous fleets into Uber’s existing platform. This strategic pivot allows Uber to capitalize on the autonomous vehicle revolution without shouldering the massive research and development expenses.
CEO Dara Khosrowshahi articulated a comparable vision during his appearance on The Diary of a CEO podcast earlier this year.
“You can imagine the majority of our trips being fulfilled by robots of some kind,” Khosrowshahi said. “Probably not 10 years from now, but you go 15 to 20 years from now, you’re going to start getting there.”
Self-driving vehicles are already operational in multiple metropolitan areas across the country. Uber has begun compensating drivers to assist in training artificial intelligence systems that will power future autonomous fleets.
Meanwhile, competitor Lyft has started paying former drivers to maintain and clean self-driving vehicles that are gradually replacing traditional ride-hailing positions.
As Uber’s most tenured active employee since joining in 2012, Macdonald brings significant institutional knowledge to his predictions. CEO Khosrowshahi has praised him as “an execution machine.”
These forecasts from Uber’s leadership team signal a transportation revolution already in motion, as the ride-hailing industry steadily transitions toward an automated future with diminishing reliance on human drivers.
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Key Takeaways
Jim Cramer maintains a bullish stance on Micron despite recent volatility triggered by Samsung’s disappointing buyback announcement
The company reported fiscal Q3 revenue of $41.46 billion, representing a 346% year-over-year surge, with non-GAAP EPS of $25.11 exceeding expectations by 24%
With $100 billion in contracted AI revenue secured through 2030, Micron’s HBM and DRAM production capacity is completely booked through 2027
At a forward P/E ratio of approximately 6, Micron trades at a fraction of Intel’s 68.97 and AMD’s 61
Cramer identified Micron as his preferred choice among four essential memory chip manufacturers, including SanDisk, Seagate, and Western Digital
Jim Cramer continues to champion Micron Technology, arguing the memory chip giant remains severely undervalued despite share price fluctuations driven by developments among South Korean competitors.
While Micron shares have surged approximately 254% in 2026, a recent decline has drawn investor attention. According to Cramer, the downturn has virtually nothing to do with Micron’s business performance.
The catalyst was Samsung’s shareholder return program announcement. Market participants deemed it insufficient when compared to SK Hynix’s earlier commitment. SK Hynix had already revealed a plan to repurchase and retire approximately $28.6 billion of its shares between August 20 and November 19.
Samsung was anticipated to unveil returns surpassing $72 billion. The actual announcement significantly underdelivered against those expectations.
“The Samsung buyback was regarded as not good enough,” Cramer observed, describing the market’s response as “chimerical” considering Micron’s impressive financial performance.
The Financial Case for Micron Is Compelling
Micron delivered fiscal Q3 revenue of $41.46 billion, marking a 346% increase from the prior year. Non-GAAP earnings per share reached $25.11, surpassing consensus forecasts by 23.8%. The company achieved a record non-GAAP gross margin of 84.9%, compared to just 39% twelve months earlier.
The memory maker holds $22 billion in customer deposits from 16 strategic partners, secured with take-or-pay agreements and minimum pricing guarantees. The company has locked in $100 billion worth of AI-related contracted revenue extending through 2030.
Both HBM and DRAM production capacity remain fully committed through 2027. Industry projections indicate AI data centers will account for approximately 70% of worldwide memory chip output in 2026.
Cramer highlighted Micron along with SanDisk, Seagate, and Western Digital as four memory chip manufacturers he considers “indispensable” in the current market. He connected the sector’s momentum to remarks from Elon Musk, who stated during SpaceX’s Q2 earnings discussion that memory availability has emerged as the primary constraint for AI data center expansion.
“While I acknowledge that I am not early, I do not think I am late,” Cramer explained to his audience.
The Samsung Connection Explained
The link between Samsung and Micron extends beyond a single disappointing capital return program. Samsung, SK Hynix, and Micron collectively dominate roughly 90% of worldwide DRAM production. Developments affecting one company are frequently interpreted as indicators for the entire group.
Samsung also initiated mass production of HBM4 in February 2026, establishing a first-mover advantage. Micron continues to focus on shipping HBM3E. This technological gap provides some market participants with justification for concerns about Micron’s competitive positioning in next-generation products.
An additional challenge exists in Micron’s regulatory constraints. The company’s CHIPS Act funding agreement prohibits significant share buyback programs until December 9, 2026. Meanwhile, Samsung and SK Hynix maintain the flexibility to repurchase billions worth of their own shares. Micron currently lacks this option.
Nevertheless, institutional capital continues flowing toward Micron. Hedge fund ownership expanded from 154 to 184 funds between Q1 and Q2. Coatue Management dramatically increased its Micron holdings by 1,794% to $3.6 billion. The fund managed by George Soros nearly multiplied its position eightfold during Q2.
Micron’s forward price-to-earnings ratio stands at approximately 6, creating a stark contrast with Intel’s 68.97 and AMD’s 61. Following a visit to Micron’s Boise, Idaho manufacturing facility, Cramer expressed conviction that the demand environment is genuine. The company has pledged over $250 billion through 2035 toward expanding its U.S. production capabilities.
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