Tech

Axiom Biosciences is planning its IPO in Hong Kong in 2027, followed by a U.S. secondary listing in 2029. This strategic move aims to access Asia’s growing capital markets and tap into a biotech-focused investor base. While the U.S. remains a capital hub, Hong Kong offers a mature ecosystem, strong recent listing performance, and proximity to Asian partners, appealing to companies seeking capital and efficient scaling.

Nvidia is challenging Intel and AMD in the AI server CPU market with its new “Vera” chip. Designed for AI agents, Vera offers significant performance gains by prioritizing single-core speed and memory bandwidth. This move signals Nvidia’s strategy of vertical integration, aiming to provide complete, optimized hardware solutions for AI workloads, from GPUs to CPUs. While adoption among major cloud providers is a hurdle, key AI research firms are already deploying Vera, indicating its potential to reshape the competitive landscape.

Alphabet launched three new Gemini models, including Gemini 3.5 Flash Cyber for cybersecurity and Gemini 3.6 Flash for enhanced coding and efficiency. These cost-effective models aim to address product delays and intense competition. Alphabet leverages its infrastructure and chip development for optimized AI performance, while also providing roadmap transparency.

AI leaders OpenAI and Anthropic are dramatically increasing their federal lobbying expenditures, investing $3.17 million in Q2 to influence policy on cybersecurity, IP, and defense. Their spending surge signifies a strategic push to shape AI’s future amidst evolving regulations and upcoming IPOs. While tech and defense giants still dominate overall budgets, these AI firms are rapidly closing the gap, demonstrating their growing influence in Washington D.C.

Goldman Sachs launched a new platform to increase wealthy clients’ access to direct investments in private companies. The initiative consolidates existing alternatives business with new teams focused on equity stakes and transaction services for private holdings. This move addresses the growing profitability of wealth management and the trend of successful startups remaining private longer, allowing investors earlier participation in growth cycles, including AI-related infrastructure.

Fortinet will use Intel’s manufacturing capabilities for its next-generation SP6 security chip, leveraging Intel 4 process technology. This partnership marks a significant win for Intel’s foundry ambitions, demonstrating its growing appeal beyond internal use and defense projects. The deal underscores Intel’s strategy to diversify revenue and establish itself as a key player in the competitive foundry market, particularly in the growing cybersecurity sector.

U.S. Treasury Secretary Scott Bessent is scrutinizing Chinese AI models for potential intellectual property theft, citing “watermarks” from American LLMs. This concern arises as Chinese open-weight models gain traction, challenging U.S. AI dominance. Bessent warned of sanctions for IP violations, particularly through “distillation.” The US plans AI dialogues with China in September, highlighting the global race and the need for fair competition and IP protection in the rapidly evolving AI sector.

SpaceX faces post-IPO volatility with its first earnings report and lock-up expiration. Despite a recent stock dip, the company is navigating market pressures, including short-selling. SpaceX continues ambitious operations with Starlink launches and Starship development, crucial for its future. Diversification into cloud computing and AI, with acquisitions and partnerships, further shapes its strategic landscape.

JetBlue secured Spirit Airlines’ LaGuardia slots. Stock futures show positive movement. Key developments include heightened geopolitical tensions with Iran impacting oil and trade, General Motors surging on strong earnings, uncertainty in AI regulation due to an official’s departure, a merger deal facing a legal hurdle, and the FDA confirming its findings on a cyclosporiasis outbreak despite a false positive test.

Nebius’ stock surged 7% after Nvidia announced a 9.3% stake acquisition. This follows Nvidia’s planned $2 billion investment and a $27 billion deal with Meta, highlighting Nebius’ critical role in AI infrastructure. The company’s stock has grown nearly 250% in the past year, reaching a $46 billion market cap. Freedom Capital Markets upgraded Nebius to “buy,” citing a positive debt raise backed by GPU infrastructure.