US stocks slipped yesterday as traders weighed AI capex woes and the Iran situation against upbeat economic data ‌and a strong start to earnings season

Middle East-US Treasury sovereign risk premiums have risen by 20 bps to 402 bps at the widest since 2022

TSMC blew past Q2 estimates on extremely robust AI related demand; the firm will invest another $100B in US (CNBC) 

Netflix met Q2 earnings and revenue estimates on rapidly growing live events efforts as subscribers; the firm pledged more programs to reverse slowing growth (CNBC)

UnitedHealth issued a Q2 beat-and-raise on improved medical cost management (CNBC)

Full calendar here

Apparently, there's a third place decider and markets seem to care

Trade event contracts on Polymarket, the world's largest prediction market

UK leaders are calling up PE execs to ask why UK capital markets suck (FT)

Explosive diarrhea outbreak causes sweetgreen stock to plunge (BBG)

Iran tells Houthis to close Red Sea gateway if US hits power network (RT)

Trump's Truth Social will sell high-speed access to his posts (CNBC)

Economic activity is rising as inflation eases slightly (RT)

Market is so risk-on that path higher looks tough (BBG)

Energy IPOs surge as investors hunt for ways to play AI boom (FT)

Data center backlash has companies turning to green debt (BBG)

Foreign M&A by Indian companies are on track to break records (FT)

Bulge brackets cut over 10k jobs in Q2, the most since Covid (BBG)

Goldman Sachs settles for junior roles on trio of UK deals (FT)

JPMorgan is set to become the world's first $1T bank (RT)

SpaceX post-IPO collapse threatens IPO market's AI euphoria (BBG)

SpaceX short sellers are sitting on $8.7B of paper profits (RT)

SpaceX selloff is an ominous sign as lockup expiry looms (RT)

Record Korea ETF inflows fuels SK Hynix proxy play (BBG)

Quant trader Jump Trading doubled its prediction markets team to 20 (BBG)

Oversight Board finds AI models less likely to criticize repressive regimes (RT)

China's Moonshot AI latest model is the world's best (AX)

SpaceX aborted its Starship test flight (CNBC)

US lawmakers urge Trump to ban Chinese memory chips (FT)

Mamdani proposed banning landlords from requiring income proof AND credit checks (BBG)

Exec Sum home beehiiv announced it's biggest expansion yet (TC)

Cools your bed up to 20ºF below room temperature

Detects and reduces snoring by 45%

Increases daytime energy levels by up to 34%

CEO Ryan Cohen said GameStop is 'coming for eBay one way or another' as he seeks a $55B takeover 

Uber agreed to acquire German peer Delivery Hero for $14.8B cash

KKR and Energy Capital Partners sweetened their bid for European energy distribution firm DCC to over $7.7B and bought extra time to complete a drawn-out takeover process

Swiss industrial company ABB agreed to buy UK industrial components company Rotork at a $5.5B valuation, including debt, at a 60% premium

EQT raised its tender offer for $4.3B-listed Japanese price comparison website Kakaku.com, escalating a bidding war with LY Corp. and Bain Capital

Eli Lilly agreed to acquire $2B-listed psychedelics biotech AtaiBeckley for $3.8B cash at a 25% premium

Carnelian Energy Capital and EnCap Investments are in late stage talks to acquire shale oil venture VTX Energy Partners from commodities giant Vitol at a $2.3B valuation 

French software maker Dassault Systemes is in talks to buy drug-trial ​software maker ArisGlobal from Nordic Capital ‌for $2B

Elon Musk acquired Florida-based gas turbine company APR Energy for $1B

Japan's Seven & i Holdings is in talks to invest over $1B for a stake in Poland's No. 1 convenience-store operator Zabka Group

Austria's Raiffeisen Bank International secured 55% of shares in its $600M bid to acquire regional peer Addiko Bank 

Japan's state energy firm JOGMEC is exploring a stake sale of its APAC LNG projects

Data analytics platform Databricks is raising a $3B Series M at a $188B valuation led by Coatue

Crypto.com raised $400M at a $20B valuation in its first institutional funding round from Citadel Securities

Japanese brokerage and financial infrastructure startup Alpaca raised a $135M Series D follow on at a $1.15B valuation led by Peak XV Partners 

Applied Computing, a UK startup developing physics-based AI for energy operators, raised a $20M Series A led by KBR

Kind Designs, a climate-resilience 3D-printed living seawalls company, raised a $10M pre-Series A at a $70M valuation from Mark Cuban, Kyle Kuzma, and others

Aina, an Indian AI interface hardware startup, raised a $5.5M funding round led by Redstart Labs and 360 ONE

Horizon Trade, an AI platform that turns ideas into strategies and automated trades without need for quant or coding skills. raised a $2M pre-seed round from Entrée Capital 

$40B-listed Chinese tech giant Baidu plans to pursue a dual primary listing in US and Hong Kong

Brookfield-backed data center company Csquare raised $1.05B for a $3.25B market cap in an IPO priced below a marketed range

The $1B IPO of India's SBI Funds Management is 42x oversubscribed

Digi Spain Telecom, the Spanish unit of Romania's Digi Communications, raised $170M for a $1.7B market cap in a Spain IPO

Nuclear fuel firm Standard Nuclear fell 10% in its trading debut after raising $150M for a $2.15B valuation in a downsized IPO priced below a marketed range

Bank of America pulled out Chicago's $1B debt sale backed by tickets, fines, and other overdue fees

Indian conglomerate Shapoorji Pallonji Group raised $650M in a debut dollar bond sale

Senegal tapped Lazard as financial advisor ahead of a potential restructuring

Aston Martin creditors led by Arini, BlackRock, and Sculptor Capital tapped Jefferies as financial advisor ahead of potential debt talks

Apollo is seeking to deploy $20B in private credit in Mexico

King Street significantly restricted withdrawals from its main hedge fund

Hedge fund Carronade Capital will close to new investors after AUM hit $3.7B

Investment firm Balbec Capital raised $930M for its latest flagship fund to invest in asset-backed deals including mortgages 

Aethon Fund, a new hedge fund that pairs proprietary market signal research with AI-powered trading discipline, launched with $50M

Multi-strat hedge fund Paloma will cut PM teams by 50% to 10

Japan passed a law recognizing crypto as "financial assets"

Morgan Stanley rolled out Bitcoin spot trading on E*Trade

WSJ highlighted a growing but somewhat hidden concern amid the AI boom: violence against tech executives.

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