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The global discourse mustn’t obscure the data on flows from developed to developing countries—they amounted to just $58.7 billion in 2024. That’s much below what was committed and must not get papered over by other measures of progress.
Snap’s second-quarter revenue surpassed estimates, boosted by World Cup advertising and large advertiser activity. The social media company is enhancing its ad platform with AI-powered tools for better targeting. Daily active users grew five percent, maintaining prior growth rates across the platform. Despite competition, Snap’s revenue jumped nineteen percent to $1.60 billion. The company anticipates…
Palantir Technologies’ shares surged after raising its financial outlook, expecting up to $4.91 billion in adjusted income driven by strong AI demand. The company is also projecting sales of up to $8.16 billion, exceeding analyst estimates, despite challenges in European markets.
The two tech giants are at odds amid US confusion over the rise of Chinese AI. While one sees AI models as a point of intervention, the other supports chip export restrictions. Each has a self-interest at stake, but is that what should determine US policy?
Gold and silver prices rose on August 4, driven by easing US-Iran tensions and lower crude oil prices. Gold futures increased by $61 to $4,151 while silver prices climbed $2.35 to $60.24, amid hopes for a diplomatic breakthrough regarding the Strait of Hormuz.
Big pay packets are being offered to tech professionals who have a close understanding of what clients actually need for productive AI adoption. Indian IT service companies like TCS are thus in a hurry to create forward deployment units.
Onsemi anticipates third-quarter revenue exceeding Wall Street expectations. This growth stems from surging demand for power management chips. The company expects AI data center revenue to more than double by 2026. Onsemi also reported second-quarter results in line with analyst estimates. Shares saw a slight decline after the company’s positive outlook was released.
GLOBAL-GRAINS/ (UPDATE 2):GRAINS-CBOT grains, soybeans fall as oil drops on Iran hopes
Tokyo and Washington have said they acted in concert to strengthen the yen against the dollar. This revives the spirit of the 1985 Plaza Accord—which haunted Japan’s economy for decades thereafter.
Palantir Technologies Inc.’s stock surge has wiped out all of the year-to-date paper gains for short sellers, saddling them with billions in losses.