Intel’s AI business grows 78%, so why did its stock plunge 30%?
In brief Intel shares fell 29% on Friday, wiping out over USD 100 billion in market value The chipmaker forecasts Q4 revenue about USD 1.57 billion below Wall Street estimates The AI boom is driving Intel’s server business but hurting its PC business in the U.S.
Elon Musk is selling the telepathic future—can you invest before the IPO?
In brief Neuralink demos a Grok agent controlled by thought and voice relayed into an iPhone call ARK Venture holds Neuralink shares, but ARK says it is not yet open to foreign investors PreStocks’ Neuralink token represents no shares or shareholder rights and trades thinly
South Africa’s crypto market grew 52% during the downturn, ahead of licensing
In brief South Africa’s crypto economy grew 52% to USD 39.3 billion despite the bear market One asset is now equivalent to Bitcoin in the region’s peer-to-peer transfers South Africa’s central bank revises draft restrictions on cross-border crypto transfers
Elon Musk teases Binance hackers, while CZ reiterates his SpaceX investment
In brief CZ said Binance lost about USD 2 billion after a USD 6.3 billion hack He pointed to more than USD 1 billion worth of SpaceX shares from the 2022 Twitter bet Lockup rules and scheduled SPCX price adjustments determine whether that stake can be sold
Shiba Inu Team Warns Traders to Be Cautious After USD 20 Million Liquidation Wave
In brief Shiba Inu Team Warns of Caution After USD 20 Million in Liquidations Longs lost more than USD 12.9 million, but still outnumber shorts by 2.71 times A net 92 billion SHIB flowed onto exchanges Read the original story: Shiba Inu Team Warns Traders to Be Cautious After USD 20 Million Liquidation Wave, by Phil Haunhorst at th.beincrypto.com
Oil surges to its highest level in a month as next week’s U.S. midterm elections test Iran
In brief WTI crude hits USD 106.2 after Iran reveals that mines attacked four vessels near the Strait of Hormuz CENTCOM chief Adm. Brad Cooper reports that he briefed Trump on military options against Iran Polymarket puts the odds of the U.S.-Iran ceasefire deal surviving through the midterms at 83%
The Bank of Japan holds rates, closing a week in which every dissenting vote called for a rate hike
In brief The Bank of Japan kept its policy rate at 1.25% in an 8–1 vote A minority vote wanted interest rates to reach the neutral level sooner The Fed held interest rates this week, while the Bank of Canada raised rates
Fidelity’s Timmer warns that rising interest rates could hurt stocks if earnings fail to keep pace
In brief Fidelity’s Jurrien Timmer points out that rising interest rates could hurt stocks if earnings fail to keep pace. He said the market has not yet entered bubble territory, while profit margins and spreads remain intact. U.S. junk-bond spreads widened by around 70 basis points from their recent lows before narrowing.
Amazon shares fell after the market closed, dropping below Wall Street’s lowest price target
In brief Amazon shares fell 7.3% after the market closed, dropping below Wall Street’s lowest price target Trailing 12-month free cash flow was negative USD 42.4 billion due to AI spending Analysts’ average price target of USD 332.26 is about 47% above the current share price
Bitcoin is getting boring, but here are the bullish factors according to market analyst James Check
In brief James Check says Bitcoin becoming a mainstream asset is the main reason the bull case is strongest Glassnode data suggests that one-month realized volatility is at 25.2%, near summer 2023 levels JPMorgan linked Bitcoin allocation to lower volatility. Has this condition been met yet?
Why are all crypto prices plunging except Hyperliquid?
In brief Hyperliquid surges as crypto traders lose USD1.49 billion to liquidations Binance suspends withdrawals after billions of USD leave its hot wallets, sparking market turmoil ICE, Druckenmiller, and Musk weigh in, but US approval is still pending
Amazon's AWS backlog, worth USD 578 billion, is growing faster than revenue
In brief Amazon's AWS backlog reaches USD 578 billion, growing by triple digits as sales surge 39.3% AWS adds USD 3.8 billion in sales per quarter after adding USD 4.6 billion earlier Can Amazon turn orders into revenue before cost pressures rise?
Polymarket and Kalshi face a new rival as DraftKings CEO sees an excellent growth opportunity
In brief DraftKings CEO Jason Robins says the prediction market opportunity is excellent Robins says customer overlap with Kalshi is only about 3% in states with sports betting Can a Nasdaq-listed sports betting company reach more customers in the U.S. than crypto-based Polymarket?
KOSPI Plunges More Than Nikkei as Investors Worry AI Earnings Will Pressure Chip Stocks
In Brief KOSPI fell 4.77% on Friday after South Korea’s chip giant was hit by the impact of AI earnings. Japan’s Nikkei 225 fell 2.81%, while Taiwan’s TAIEX fell 2.80%. Seoul halted program selling for 5 minutes, the first time in 11 sessions. Read the original story: KOSPI Plunges More Than Nikkei as Investors Worry AI Earnings Will Pressure Chip Stocks, by Kamina Bashir at th.beincrypto.com
Schwab says AI has moved beyond experimentation. Will the U.S. see a dot-com-style boom?
In brief Schwab reveals that U.S. advisors’ use of AI is moving from experimentation to real-world use Schwab offers a $4,800 credit to companies that choose Claude’s enterprise plan Schwab’s 1996 launch of online trading was both an example and a warning
Cramer recommends buying Microsoft, sees Alphabet as carrying too much weight
In brief Jim Cramer recommends buying Microsoft, says Alphabet has serious problems Alphabet's free cash flow has been negative for two consecutive quarters Can Amazon's record-high gross profit offset its earnings miss? Read the original story: Cramer recommends buying Microsoft, sees Alphabet as carrying too much weight, by Darryn Pollock at th.beincrypto.com
Bitcoin Bulls Hit Hardest on $1.49 Billion Crypto Liquidation Day
In brief Crypto liquidations hit 1.49 billion USD in 24 hours, led by Bitcoin longs Bitcoin drops 4.67% in 24 hours to 77,111 USD as Binance investigates suspected hack One major token surged, causing short sellers to suffer losses Read the original story: Bitcoin Bulls Hit Hardest on $1.49 Billion Crypto Liquidation Day, by Kamina Bashir at th.beincrypto.com
Musk and Wall Street billionaires are interested in a market that Bitwise says 99.9% of Americans have never heard of
In brief Musk, Druckenmiller and Bitwise’s Hougan each weigh in on the Hyperliquid deal ICE, the owner of the New York Stock Exchange, plans to launch a regulated 24/7 Hyperliquid market in the US Two-thirds have already invested in the HYPE token
Bitcoin leads the S&P 500, but why is USD 85,000 still out of reach?
In brief Bitcoin outperformed the S&P 500 for several days after winning just one in five trading days in June BTC's price has closed above the USD 84,000–85,000 range on only five days since January, according to on-chain analytics firm Glassnode Weak consumer confidence, a stagnant leading economic index, and a narrowing memecoin market are weighing on Bitcoin's short-term price outlook