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August 17, 2025

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Tech 5: US Government Strikes Big Tech Deal, Perplexity Plots Expansion

Investing 5 Mins Read

Tech stocks led Wall Street to a second consecutive week of gains as a series of data releases reignited optimism about a September interest rate cut from the US Federal Reserve.

A strong consumer price index report was the catalyst, renewing anticipation that the Fed will lower rates when it meets next month. While Thursday’s (August 14) less optimistic producer price index report caused a momentary pause, the tech sector’s resilience — or defiance — mitigated losses and kept momentum alive.

Here’s a look at the key moments that shaped the tech sector this week.

1. US government strikes controversial Big Tech deal

On Monday (August 11), the Washington Post reported on a deal between the US government and tech giants NVIDIA (NASDAQ:NVDA) and Advanced Micro Devices (AMD) (NASDAQ:AMD). It stipulates that the tech companies must surrender 15 percent of revenue from Chinese sales of NVIDIA’s H20 chips and AMD’s MI308 chips.

Anonymous sources told the news outlet that this condition was imposed as a prerequisite for granting the companies export licenses to sell their products in China. The move that has prompted legal concerns among trade experts who say the fee could be construed as an unconstitutional trade tax.

“To call this unusual or unprecedented would be a staggering understatement,” Stephen Olson, a former US trade negotiator, told Bloomberg. “What we are seeing is in effect the monetization of US trade policy in which US companies must pay the US government for permission to export.”

AMD, NVIDIA and Intel performance, August 12 to 15, 2025.

Chart via Google Finance.

Meanwhile, shares of Intel (NASDAQ:INTC) rose as much as 4.6 percent on Tuesday (August 12) following a ‘candid and constructive’ meeting between CEO Lip-Bu Tan and US President Donald Trump on Monday.

The meeting came after Trump called for Tan’s removal last week.

According to a separate Bloomberg article, the US government is considering taking a stake in the chipmaker to help it establish a planned factory hub in Ohio; the company once promised it would be the world’s largest chipmaking facility. Tan has not confirmed or denied the report, but discussions are said to be ongoing. Sources told Bloomberg the government is considering using funds from the Biden administration’s Chips Act to fund the stake.

2. Amazon to expand grocery delivery services

Amazon (NASDAQ:AMZN) shares rose as much as 1.3 percent on Wednesday (August 13) after the commerce company announced plans to significantly expand its grocery services.

On Wednesday, the company said its same-day delivery service will now include fresh groceries, including produce, meat and dairy, in over 1,000 cities, with plans to expand into more than 2,300 by the end of the year.

The service is included in Amazon Prime memberships for orders over US$25. Smaller orders and orders from non-members will require fees of US$2.99 and US$12.99, respectively.

3. CoreWeave shares drop after mixed earnings report

Artificial intelligence (AI) data center operator CoreWeave (NASDAQ:CRWV) reported mixed Q2 results on Tuesday, with revenue more than doubling year-on-year to US$1.2 billion, beating estimates of US$1.08 billion, and a revenue backlog of US$30.1 billion. However, the growth came at a high cost. The company reported a record US$2.9 billion in capital expenditures for the quarter, and operating expenses jumped by 276 percent to US$1.19 billion.

CoreWeave performance, August 12 to 15, 2025.

Chart via Google Finance.

The company also reported losses of US$291 million, larger than the US$190.6 million analysts had estimated.

Shares of CoreWeave opened more than 10 percent lower on Wednesday and declined throughout the week, closing at US$99.97 on Friday (August 15) compared to Monday’s opening price of US$134.80.

4. Perplexity bids on Chrome, prepares for fresh funding round

AI startup Perplexity made a US$34.5 billion bid for Google’s (NASDAQ:GOOGL) web browser, Chrome, in a move to secure its future in the AI search market. Perplexity told the Wall Street Journal that the unsolicited offer would be funded with the help of outside investors. The company’s advance comes as Google faces a potential divestiture following an antitrust trial that found it had illegally monopolized online search and search advertising.

OpenAI has also expressed interest in acquiring Chrome.

On Thursday, Business Insider reported that Perplexity is preparing for another round of funding, which would mark its sixth fundraiser in 18 months. The company is reportedly seeking a post-money valuation of US$20 billion. This comes barely one month after the startup achieved a US$18 billion valuation.

The rapid succession of these events underscores the intense, high-stakes competition among AI startups to secure foundational assets and challenge established tech giants.

Canadian AI startup Cohere secured US$500 million in fresh funding on Thursday from a group of investors that included NVIDIA and AMD, bringing its valuation to US$6.8 billion. The company also onboarded former executives from Uber Technologies (NYSE:UBER) and Meta Platforms (NASDAQ:META).

5. Apple plans product expansion

Apple (NASDAQ:AAPL) shares climbed as high as 1.7 percent on Wednesday after Bloomberg reported on the company’s planned expansion into robotics, home security and smart displays.

The new products are aimed at strengthening Apple’s product ecosystem, which has paled in comparison to offerings from tech rivals like Amazon and Meta.

Apple performance, August 12 to 15, 2025.

Chart via Google Finance.

Some of the new devices slated for future release include a tabletop virtual companion robot, a long-planned advanced Siri model with a visual personality, a smart speaker with display capabilities and home security cameras.

Apple finished the week at US$231.59, a 1.7 percent gain from Monday.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Investing

Crypto Market Update: Bitcoin Pulls Back After New High, Ethereum ETF Inflows Hit Nearly US$3 Billion

Investing 7 Mins Read

Here’s a quick recap of the crypto landscape for Friday (August 15) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$116,999, a 0.8 percent decline in 24 hours. Its lowest valuation of the day was US$116,956, while its highest was US$118,192.

Bitcoin price performance, August 15, 2025.

Chart via TradingView.

Bitcoin surged to a new all-time high of US$124,533 on Thursday (August 14), driven by increased institutional interest and expectations that the US Federal Reserve will cut interest rates.

However, the rally was short-lived, as the price fell as low as US$117,263 early on Friday.

The decline was attributed to hotter-than-expected US producer price index data for July, which dampened investor optimism about a rate reduction. Additionally, comments from US Secretary of the Treasury Scott Bessent revealed that the country holds less Bitcoin in reserve than previously thought, further unsettling the market.

Ethereum (ETH) experienced one of its most successful weeks of the year, with on-chain data further underscoring this bullish trend. Daily active addresses, stablecoin transfer volume and daily transactions all reached record highs this week. Additionally, decentralized exchange volume hit its highest point since 2022.

As of Friday’s close, ETH was priced at US$4,391.13, a 3.3 percent decline over 24 hours. Its lowest valuation on Friday was US$4,381.31, and its highest was US$4,614.81.

Altcoin price update

  • Solana (SOL) was priced at US$184.03, down by 4.8 percent over 24 hours. Its lowest valuation of the day was US$183.837, while its highest valuation was US$193.02.
  • XRP was trading for US$3.07, down 0.3 percent in the past 24 hours. Its lowest valuation of the day was US$3.01, and its highest was US$3.11.
  • Sui (SUI) was trading at US$3.66, down by 2.4 percent over the past 24 hours. Its lowest valuation of the day was US$3.63, while its highest was US$3.85.
  • Cardano (ADA) was trading at US$0.93, up 0.3 percent over 24 hours. Its lowest valuation of the day was US$0.9186, while its highest was US$0.9526.

Today’s crypto news to know

Ethereum ETF inflows hit nearly US$3 billion for the week

Ethereum-focused exchange-traded funds (ETFs) have seen an unprecedented surge in investor demand, attracting almost US$3 billion in net inflows over the past week. According to SoSoValue data, this amount is more than five times the US$562 million that flowed into Bitcoin ETFs during the same period.

The spike coincides with a rapid increase in Ethereum holdings by crypto treasury firms — their exposure has climbed from US$600 million to US$11 billion in just six weeks. It also follows the US Securities and Exchange Commission’s (SEC) approval of in-kind creations and redemptions for spot Bitcoin and Ethereum ETFs. The change makes the funds more cost efficient and attractive to institutional investors.

ETF Store President Nate Geraci said in a post on X that three of the four largest single-day inflows for Ethereum ETFs since their inception occurred this week alone. Prices for the cryptocurrency have rallied nearly 19 percent over the past seven days, coming within reach of their 2021 all-time high of US$4,878.

Galaxy Digital secures US$1.4 billion loan for AI data center

Galaxy Digital (NASDAQ:GLXY) has secured a US$1.4 billion term loan facility to accelerate the development of its Helios artificial intelligence (AI) data center campus in Texas.

The loan, announced on Friday, will cover approximately 80 percent of the construction costs for the project’s first phase, with Galaxy Digital contributing US$350 million in equity. According to an SEC filing, the loan is secured by all assets of Galaxy Helios I, a subsidiary of Galaxy Digital, and is set to mature on August 15, 2028.

The capital infusion will fund the expansion of the Helios AI datacenter, enabling it to deliver power for AI workloads under a long-term agreement with GPU cloud provider CoreWeave (NASDAQ:CRWV), commencing in early 2026.

Galaxy Digital also announced the expansion of a power capacity deal with CoreWeave to 800 megawatts for AI and high-performance computing operations at its Helios campus, projecting over US$1 billion in annual revenue from this deal, or US$15 billion over 15 years. The Helios data center is expected to reach a 3.5 gigawatt capacity when fully developed, with 2.7 gigawatts available for other clients after the CoreWeave agreement.

DOJ seizes over US$2.8 million in crypto from alleged ransomware operator

On Thursday, the US Department of Justice (DOJ) announced the seizure of over US$2.8 million in cryptocurrency, as well as cash and other assets, as part of a criminal case against an alleged ransomware operator.

Ianis Aleksandrovich Antropenko, the alleged operator, faces charges of conspiring to commit computer fraud and abuse, as well as conspiracy to commit money laundering.

On Thursday, the DOJ unsealed six warrants, authorizing the seizure of US$2.8 million in cryptocurrency from a wallet controlled by Antropenko, along with US$70,000 in cash and a luxury vehicle.

According to the notice, these assets are believed to be the proceeds of ransomware activity, or involved in laundering those proceeds. The laundered assets were disguised through various methods, including the use of ChipMixer, a cryptocurrency mixing service that was shut down in a coordinated international operation in 2023.

Antropenko also laundered cryptocurrency by converting it to cash and making structured cash deposits.

Saylor bets on US$100 billion ‘Bitcoin credit’

Michael Saylor, executive chairman of Strategy (NASDAQ:MSTR), is pursuing a high-risk plan to finance further Bitcoin purchases through perpetual preferred stock offerings.

The new securities — nicknamed “Stretch” — do not mature, lack voting rights and can skip dividends under certain conditions, giving the issuer flexibility while raising investor concerns about risk.

This marks a departure from the company’s earlier reliance on common stock sales and convertible bonds to fund what is now a US$75 billion Bitcoin treasury. Saylor aims to retire billions in outstanding debt and replace it with preferred equity, which he says could theoretically scale to US$100 billion or more in capital raised.

The model hinges on investor appetite for yield backed indirectly by Bitcoin’s performance, while avoiding the dilution impact of issuing more common stock.

Federal Reserve Board to sunset crypto supervision program

In a notice on Friday, the US Federal Reserve Board said it will sunset a program created in August 2023 to supervise certain activities related to crypto assets and distributed ledger technology.

The Fed said it will return to monitoring activity through the normal supervisory process.

“Since the Board started its program to supervise certain crypto and fintech activities in banks, the Board has strengthened its understanding of those activities, related risks, and bank risk management practices,” it said.

“As a result, the Board is integrating that knowledge and the supervision of those activities back into the standard supervisory process and is rescinding its 2023 supervisory letter creating the program.”

Hong Kong SFC rolls out stricter rules for licensed crypto platforms

Hong Kong’s Securities and Futures Commission (SFC) has introduced new custody rules for licensed virtual asset trading platforms, setting stricter benchmarks for how client assets must be stored and secured.

The updated framework includes specific requirements for cold wallet usage, senior management accountability and real-time cyber threat monitoring, alongside rules for using third-party wallet providers.

These measures follow an SFC review earlier this year that identified security and operational gaps among some licensed exchanges. The regulator says the changes are part of its ASPIRe strategy, a five point plan to address liquidity fragmentation, regulatory arbitrage and volatility, while expanding regulated product offerings.

The policy also aims to position Hong Kong as a safer, more structured alternative to other Asian crypto hubs, notably Singapore, which has imposed tighter limits on retail trading.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Politics

Zelenskyy outlines peace demands before high-stakes White House meeting with Trump

Politics 4 Mins Read

Ukrainian President Volodymyr Zelenskyy on Saturday outlined firm conditions for a ‘real peace’ ahead of a high-stakes meeting with President Donald Trump on Monday.

Zelenskyy posted to X following his call with Trump and then with European leaders, after Trump and Russian President Vladimir Putin met in Alaska to try and bring about an end to the 3 ½ year war.

‘The positions are clear. A real peace must be achieved, one that will be lasting, not just another pause between Russian invasions,’ Zelenskyy wrote.

‘Killings must stop as soon as possible, the fire must cease both on the battlefield and in the sky, as well as against our port infrastructure. All Ukrainian prisoners of war and civilians must be released and the children abducted by Russia must be returned.’

Zelenskyy wrote that thousands of Ukrainians remain in captivity and must all be released, while adding that pressure on Russia must be maintained while the ‘aggression and occupation continue.’

In a follow-up post, Zelenskyy warned of Russian ‘treachery’ that could lead to attacks in order to gain leverage amid ongoing negotiations.  

‘Based on the political and diplomatic situation around Ukraine, and knowing Russia’s treachery, we anticipate that in the coming days the Russian army may try to increase pressure and strikes against Ukrainian positions in order to create more favorable political circumstances for talks with global actors,’ he wrote. 

Zelenskyy is scheduled to meet with Trump in the White House on Monday as the three nations try and bring an end to the bloodshed.

Trump wrote on Truth Social following the Putin meeting that he felt a peace agreement, rather than a ceasefire, was ultimately the best way to solve the war. Trump had been calling for a ceasefire ahead of his meeting with Putin. 

‘It was determined by all that the best way to end the horrific war between Russia and Ukraine is to go directly to a Peace Agreement, which would end the war, and not a mere Ceasefire Agreement, which often times do not hold up,’ Trump wrote.

He said if Monday’s meeting with Zelenskyy also goes well, a meeting will be scheduled with Putin and ‘potentially, millions of people’s lives will be saved.’

Zelenskyy’s visit will mark his first return to the Oval Office since February, when Trump berated him publicly for being ‘disrespectful’ during a remarkable press briefing, which led to the collapse of a U.S.-Ukraine minerals deal.

Though a peace agreement was not decided upon during the meeting on Friday, Trump described it as a successful meeting with ‘a lot of progress’ made. Putin expressed similar sentiments, adding the summit was a ‘constructive atmosphere of mutual respect.’

After his meeting with Putin, Trump also spoke to European leaders, who said they back Trump’s peace push but insist Ukraine must have ‘ironclad’ security guarantees to defend its sovereignty and territorial integrity.

The European leaders did not address whether a peace deal was preferable to a ceasefire.

‘It will be up to Ukraine to make decisions on its territory. International borders must not be changed by force,’ a statement signed by various leaders, including French President Emmanuel Macron, U.K. Prime Minister Keir Starmer and European Commission President Ursula von der Leyen.

‘No limitations should be placed on Ukraine’s armed forces or on its cooperation with third countries. Russia cannot have a veto against Ukraine‘s pathway to EU and NATO.’

During an interview with Fox News before returning to Washington, Trump insisted the onus going forward might be on Zelenskyy ‘to get it done,’ but said there would also be some involvement from European nations.

Fox News’ Elizabeth Pritchett and The Associated Press contributed to this report. 

This post appeared first on FOX NEWS

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Politics

Trump closes out 30th week in office with ‘very warm’ high-stakes Putin meeting

Politics 4 Mins Read

President Donald Trump closed out his 30th week in office of his second term with a high-stakes meeting with Russian President Vladimir Putin Friday in Anchorage, Alaska, in an attempt to end the war between Russia and Ukraine. 

The two did not reach a peace agreement, but Trump said that the meeting was a success and that Ukrainian President Volodymyr Zelenskyy will visit the White House in Washington Monday. 

‘It was determined by all that the best way to end the horrific war between Russia and Ukraine is to go directly to a Peace Agreement, which would end the war, and not a mere Ceasefire Agreement, which often times do not hold up,’ Trump said in a Saturday post on Truth Social. 

If the meeting in Washington with Zelenskyy goes well, Trump said that a trilateral meeting between the U.S., Russia and Ukraine will be scheduled. 

Trump described the meeting with Putin as ‘very warm,’ and said that he believed a deal was imminent. 

‘I can tell you, the meeting was a very warm meeting,’ Trump told Fox News host Sean Hannity in an exclusive interview. ‘You know, he’s a strong guy, he’s tough as hell on all of that, but the meeting was a very warm meeting between two very important countries, and it’s very good when they get along. I think we’re pretty close to a deal. Now look, Ukraine has to agree to it.’

Here’s what also happened this week: 

Crime crackdown 

On Monday, Trump announced he would activate approximately 800 National Guard troops and would take over the Metropolitan Police Department to address crime in Washington. The move came after Trump already bolstered federal law enforcement presence in the nation’s capital Saturday. 

‘I’m deploying the National Guard to help reestablish law, order and public safety in Washington, D.C.,’ Trump told reporters at a Monday press conference. ‘And they’re going to be allowed to do their job properly.’

Trump initially suggested federalizing Washington’s Metropolitan Police Department and dispatching National Guard troops to address crime in Washington Aug. 6 in response to the assault of a former Department of Government Efficiency (DOGE) staffer. 

Although a temporary federal takeover of the Metropolitan Police Department is warranted for emergency situations, Washington officials filed a lawsuit challenging the Trump administration’s move Friday. 

‘By illegally declaring a takeover of MPD, the Administration is abusing its temporary, limited authority under the law,’ Washington Attorney General Brian Schwalb wrote in a Friday X post. ‘This is the gravest threat to Home Rule DC has ever faced, and we are fighting to stop it.’

Smithsonian review

The White House sent a letter to the Smithsonian Tuesday, announcing it would conduct a review of its museums and exhibits leading up to the 250th birthday of the United States in 2025.

‘We want the museums to treat our country fairly,’ Trump told reporters Thursday. ‘We want their museums to talk about the history of our country in a fair manner, not in a woke manner or in a racist manner, which is what many of them, not all of them, but many of them are doing.’

‘Our museums have an obligation to represent what happened in our country over the years. Good and bad,’ Trump said. ‘But what happened over the years in an accurate way.’ 

The White House said in a letter Tuesday the review would involve examining social media, exhibition text and educational materials to ‘assess tone, historical framing, and alignment with American ideals.’ 

‘This initiative aims to ensure alignment with the President’s directive to celebrate American exceptionalism, remove divisive or partisan narratives, and restore confidence in our shared cultural institutions,’ the letter said.

The Smithsonian told Fox News Digital it would coordinate with the White House, Congress and its governing Board of Regents on the matter. 

‘The Smithsonian’s work is grounded in a deep commitment to scholarly excellence, rigorous research and the accurate, factual presentation of history,’ the Smithsonian said in a statement.

This post appeared first on FOX NEWS

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Politics

State Department stops issuing all visitor visas for individuals from Gaza

Politics 2 Mins Read

The State Department announced on Saturday that it was halting all visitor visas to individuals from Gaza while it reviews the issuing process.

‘All visitor visas for individuals from Gaza are being stopped while we conduct a full and thorough review of the process and procedures used to issue a small number of temporary medical-humanitarian visas in recent days,’ a post on X from the State Department read.

Neither the State Department nor Secretary of State Marco Rubio commented on what triggered the sudden review.

In June, the Trump administration began cracking down on vetting for visa applicants. This involved the introduction of a ‘comprehensive and thorough’ review of all applicants’ ‘online presence.’

‘Every visa adjudication is a national security decision. The United States must be vigilant during the visa issuance process to ensure that those applying for admission into the United States do not intend to harm Americans and our national interests, and that all applicants credibly establish their eligibility for the visa sought, including that they intend to engage in activities consistent with the terms for their admission,’ the State Department said at the time.

Earlier this month, France suspended evacuations from Gaza after a Palestinian student allegedly shared a social media post with an image of Adolf Hitler that called for killing Jews.

French Foreign Minister Jean-Noël Barrot told France Info radio that the woman ‘must leave the country’ and that she ‘has no place’ in France.

‘No evacuation of any kind will take place until we have drawn the necessary conclusions from this investigation,’ Barrot said in the interview. He also vowed there would be a probe into how the Palestinian woman was able to get a student visa.

The student, later identified as Nour Attaalah, left France for Qatar after the incident.

As of Jan. 1, 2025, the population in Gaza had dropped by 6% since the beginning of the Israel-Hamas war in October 2023, according to Reuters, which cited the Palestinian Central Bureau of Statistics (PCBS). The outlet noted that this includes approximately 100,000 Palestinians who fled the enclave.

Fox News Digital reached out to the State Department. 

This post appeared first on FOX NEWS

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Business

Playboy moving its headquarters to Miami Beach and opening a new club

Business 1 Min Read

MIAMI BEACH, Fla. — Playboy plans to relocate its global headquarters from Los Angeles to Miami Beach and open a Playboy club there.

The Miami Beach headquarters at the top of a luxury office building will include studios to support Playboy’s “growing creator network” and the club will have a restaurant as well as a members-only section inspired by the Playboy Mansion in Los Angeles, the company said Thursday in a statement.

“Miami Beach is among the most dynamic and culturally influential cities in the country, making it the ideal home for Playboy’s next chapter,” Ben Kohn, CEO of Playboy Inc., said in the statement.

The first Playboy Magazine was published in 1953, featuring Marilyn Monroe on the cover and in a “Sweetheart of the Month” color nude photo inside.

The first Playboy Club opened in 1960 in Chicago, which was the headquarters of the company at the time, and the company opened up clubs around the world.

In 2020, Playboy ceased publishing its monthly print magazine, sticking instead with online content.

This post appeared first on NBC NEWS

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