US stocks closed mixed as strong earnings and falling oil prices fueled a rotation out of semiconductors  

India's NSE Nifty IT Index is up 16% this month beating global chip stocks by a record

US yields fell for a third-day for their best streak in a month

Taiwan 5Y yield climbed to 1.82% to the highest level since 2008

SK Hynix posted a 560% profit surge and 255% revenue surge but still failed to beat analyst estimates (CNBC)

Boeing beat Q2 revenue estimates but posted a wider-than-expected loss as Air Force One costs offset gains across all other businesses  (CNBC)

UPS issued a Q2 beat-and-raise as it nears the end of a years-long turnaround effort (CNBC)

PayPal beat Q2 earnings estimates as its turnaround efforts advance and remains open to Stripe's takeover bid but only at a higher offer (TC)

Visa beat Q2 earnings and revenue estimates amid resilient spending among consumers and businesses while also announcing 7% layoffs amid an AI efficiency push (WSJ)

Coca-Cola issued a Q2 beat-and-raise on strong demand, thanks in part to the World Cup (CNBC)

What we're watching this week:  

Full calendar here

Markets are struggling to price in the path of Fed rate policy in Kevin Warsh's just second FOMC meeting as Fed chair

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Citigroup MD got 30 years in prison for rape, sex trafficking, possession of child p0rn, drug offenses, and other charges (BBG)

JPMorgan is sponsoring the Ohio State Buckeyes (ESPN)

Diversity in S&P 500 board appointments hit the lowest since 2014 (RT)

US banned new Chinese humanoid robots to protect US AI buildout (RT)

UK lenders accuse BoE of ignoring Wall Street's capital edge (FT)

Banks' data center loans are hitting sector limits (BBG)

Family-owned companies have big appetites for US snack M&A (RT)

UAE bond sales are running at record pace despite war backdrop (BBG)

Hedge funds face margin calls as AI stocks tumble (FT)

Hedge funds reap big profits from Wall Street index shake-ups (FT)

Hedge funds are on track for another stellar year on AI boom (RT)

Man Group reversed outflows in H1 (FT)

SK Hynix slumps below US IPO price as mega-listings turn sour (BBG)

Apple becomes second company to hit a $5T market cap (BBG)

Warner Bros. deal collapse would cost Ellisons $9.8B (BBG)

EV battery giant CATL pivots to AI, grids, and ships (FT)

OpenAI's rogue agent compromised a second customer (RT)

Amazon winds down most flagship AI models in overhaul (RT)

J&J reached a $5.5B talc settlement (WSJ)

FIFA is in talks to sell a 20% stake in a new commercial entity valued at $20B in a deal led by Josh Kushner's Thrive Eternal fund

Conglomerate Koch is exploring a $15B sale of data center developer Edged

Meta and BlackRock will build a $14B data center campus in Texas in a 80%-20% JV

Capvest Partners-backed radiopharma firm Curium is in advanced talks to acquire peer Lantheus in an up to $8B deal

PetroChina is weighing selling its 15% stake in LNG Canada Development for a few billion dollars

BC Partners agreed to acquire a co-control stake in Swiss pharma company InfoRLife from CEO Sergio Dusci and the founding families of parent company ACS Dobfar at a $1.5B valuation 

Water technology firm Pentair will buy hydronic and water-based solutions ​company Taco Group for $1.4B

Nonprofit QCF/I will acquire mental health and senior living home chain Advantage Behavioral Health from Clearview Capital for $415M funded by $610M in munis

S&P Global Ratings acquired a majority stake in Nigeria-based Agusto & Co.

UK student dorm operator Unite Group is planning to sell up to 20k student dorms from its 72k portfolio

Dwelly, a company that buys UK letting agencies and runs them using AI, raised a $170M Series B led by EQT Growth and General Catalyst

LearnVector, the AI white-collar learning startup of Coursera founder Andrew Ng, raised $100M from Coursera

Act Security, an action-centric cloud security company, raised $60M across a $20M seed round and $40M Series A led by Team8 and Bessemer Venture Partners and Notable Capital respectively

Claros Technologies, a PFAS destruction and analytical solutions company, raised a $55M Series B led by Treehouse Family Capital

Fish Audio, an AI voice models startup, raised a $50M seed round led by Coreline Ventures and Capital Today

ProphetX, America's first federally regulated sports-native prediction market, raised a $35M round led by Parlay Capital and Data Point Capital

COR, an AI-powered project profitability platform for agencies and professional services firms, raised a $30M growth investment from FTV Capital

Greyparrot, an AI waste intelligence company, raised a $27M Series B led by investor Omar Mir

Epitel, an AI-driven wireless brain health technologies company, raised a $26M Series B co-led by Catalyst Health Ventures and Genoa Ventures 

ZuriQ, a Swiss quantum computing company spun out of ETH Zürich, raised a $25.5M seed round led by Quantonation

Weave, a developer productivity/output measurement startup, raised a $13.5M Series A led by Standard Capital

Dow Protocol, a platform for tokenizing real-world assets, raised a $9M seed round from MH Ventures, OKX Ventures, and others

Antares Labs, a real estate AI startup, raised a $7.25M seed round from Fifth Wall, Base10 Partners, Bloomberg Beta, and Sandwith Ventures

Chinese province Anhui reaped a $192B windfall from chip firm CXMT's $9.8B China IPO

E-commerce platform GrubMarket filed confidentially for an IPO; the firm was valued at $4.5B earlier this year

Chinese robot maker unicorn DexForce is considering a Hong Kong IPO

Hillhouse Investment-backed Indian student dorm room operator Elevate Campuses is preparing a $267M IPO

Bloomberg held informal talks with investment banks about an IPO

Cybersecurity company AlgoSec is considering a London IPO

UK retailer Frasers Group built a 4.2% voting stake in $5.2B-listed luxury brand Burberry

Catalyst Acquisition Corp. raised $200M to acquire video game publishers, mobile studios, and digital media platforms

BDT & MSD Partners-backed fast food chain Whataburger is seeking to raise a $2.7B term loan to refinance debt

Philippines' BDO Unibank sold a $2.1B sustainability bond in the largest corporate bond sale in Philippines' history

Developer BXP raised a $1.2B bank loan to build a 46-story office tower connected to NYC's Grand Central Terminal

Germany's top soccer league Bundesliga held talks with a US investment firm for a $1.1B loan

Signs and labels company Brady Corp. sold $800M of private debt to support its purchase of Honeywell International's productivity solutions and services business

Ghana allocated $430M to finance gold purchases to boost FX reserves

Liquidators of bankrupt Mexican aquatic-theme parks operator The Dolphin Company are seeking to sell some parks and dolphins and other animals

Khosla Ventures is in talks to raise $5.5B for a new set of funds

VC Jump Capital raised a $350M fund for AI investments

VC Align Ventures raised $125M for its second early-stage fund

Credit secondaries firm FoxPath Capital is raising a debut credit secondaries fund

Justin Ryan Schmidt, founder of crypto hedge fund Translunar, got three years in prison for evading taxes after renouncing US citizenship

DCG-owned crypto exchange Luno will cut 20% of staff

NinjaTrader is offering CME single stock futures on Nvidia, Tesla, Apple, Amazon, and more. Into derivatives but not a pro? You can learn how to trade them risk-free on the NinjaTrader SIM platform.*

Bloomberg published an interesting piece on BlackRock's private credit ambitions, specifically their push to challenge giants like Apollo and Blackstone.

Also, Ben Carlson thinks Japan's boom and bust may be the most interesting in financial history. Some valid insights amid all the AI bubble talk.