Markets

NVIDIA’s stock surge, fueled by the AI boom, has pushed its market cap past $4 trillion and created significant wealth for its employees. CFO Colette Kress and EVP Jay Puri are the latest to join the billionaire ranks due to their NVIDIA stock holdings, bringing the company’s total to six. Investor reports suggest around 78% of NVIDIA employees are now millionaires. CEO Jensen Huang humorously acknowledged his role in creating immense wealth within his management team.

The end of subsidized food delivery services has led to a surplus of used electric scooters appearing on Chinese online marketplaces like Xianyu. This oversupply is a direct result of platforms reducing subsidies that previously incentivized delivery drivers to purchase the vehicles. The proliferation of used scooters indicates a significant shift in the economics of the food delivery sector.

SoFi Technologies (NASDAQ: SOFI) has priced its public offering of 71,942,450 shares at $20.85 per share, generating approximately $1.5 billion in gross proceeds. Underwriters have a 30-day option to purchase an additional 10,791,367 shares. The offering is expected to close on July 31, 2025, and SoFi intends to use the proceeds for general corporate purposes, including working capital and strategic opportunities. Goldman Sachs, Citigroup, and Mizuho Securities are acting as underwriters. SoFi offers a suite of digital financial services to over 11.7 million members.

The Chengdu Metro’s installation of frosted glass panels between staircases and escalators has gone viral, sparking debate about privacy and practicality. The measure, intended to prevent unwanted glimpses, was implemented in response to passenger feedback. While some commend the design as considerate, especially for women, others question its necessity and suggest focusing on improving existing surveillance. The initiative highlights differing perspectives on public safety and privacy in urban spaces.

A magnitude 7.9 earthquake off the Kamchatka Peninsula triggered tsunami advisories across Japan’s coasts. The first wave, measuring 0.3 meters, reached Nemuro City, Hokkaido, at 10:17 AM local time. The Japan Meteorological Agency (JMA) issued warnings for Hokkaido’s Pacific coasts and northeastern prefectures like Aomori, Iwate, and Miyagi, also including Fukushima and parts of Chiba. Residents were urged to avoid coastal areas. Potential wave arrival times varied from 10:00 AM to 12:30 PM.

This document outlines the importance of integrating sustainability practices into business operations. It highlights the potential benefits, including improved brand reputation, reduced costs, and enhanced resilience. The document also discusses key areas for implementation, such as resource management, supply chain optimization, and stakeholder engagement, emphasizing the value of a holistic and long-term approach.

Gilmour Space’s inaugural launch of the Eris rocket in Australia failed on July 29th, 14 seconds after liftoff. Despite the explosion, the company considers the test a step towards launch capability, citing successful engine burn and data acquisition. The launch was Australia’s first attempt to design and launch a rocket indigenously, aiming to validate the Eris’s design for future commercial launches. Gilmour Space, founded in 2015, intends to establish Australia in the global space sector with the two-stage, small satellite launch vehicle.

The Shenzhen Institutes of Advanced Technology has introduced HYPIR, a new AI model for image restoration and enhancement. This model rapidly restores images, generating 8K detail in approximately 1.7 seconds. HYPIR distinguishes itself through its ability to produce remarkably accurate image details and preserve text integrity, a common challenge in other restoration models. Potential applications include cultural heritage preservation, film industry revitalization, scientific research, and medical imaging, offering significant advancements over traditional editing software.

Apple is launching the “Apple Manufacturing Academy” in Detroit on August 19th, partnering with Michigan State University to offer free “smart manufacturing” training to U.S. small and medium-sized businesses. This initiative, part of Apple’s $500 billion U.S. investment, aims to boost domestic innovation and competitiveness by covering areas like machine learning, automation, and data-driven optimization. Companies nationwide can apply, with online consulting also available. Apple plans further training in project management and process optimization.

Legend Power Systems (LPSIF) received TSX Venture Exchange approval to extend the expiry date of 12,861,553 common share purchase warrants, originally issued in July and August 2023, from 2025 to July 31, 2026, and August 22, 2026, respectively. The exercise price remains at $0.25. Legend Power provides solutions like SmartGATE to enhance building energy efficiency, reduce costs and emissions, and improve asset management. The warrant extension gives holders more time to exercise their rights, but potential future dilution exists.