Markets

The FTC and 22 states sued Amazon Monday over a hidden “soft reserve” in search-ad auctions. The complaint says Sponsored Products winners paid their own bid about 80 percent of the time by 2024. Tens of billions is allegation language. Nvidia put $3.5 billion into MediaTek convertibles so custom chips still sit in Nvidia’s rack. Brussels classified ChatGPT as a search engine. Together AI is taking 250 megawatts to Saudi Arabia. The Pentagon added ChatGPT and Grok to GenAI.mil. Claude is still outside.

Anthropic is signing some Claude users out and wiping saved cards after consumer malware on their PCs copied live login cookies. SoftBank’s power and data-centre arm granted OpenAI warrants now worth about $5.5 billion to keep the tenant, then aims a $5–7 billion IPO. OpenAI is quietly testing pay-when-it-works with some large accounts. Online Risk Labs estimates Temu put as much as $962 million into Meta partnership ads that boosted mostly fake creators. Apple dropped Mac mini and Studio early after the labs treated the boxes as training iron.

Saturday into Sunday morning. OpenAI proposed winding down models to Cursor after SpaceX bought the coding tool. Sony Music Publishing and Warner Chappell sued Anthropic, naming the CEO and a cofounder. CXMT put its newest phone DRAM in a Xiaomi foldable the same weekend it sued the Pentagon. The 9th Circuit called Kalshi’s sports contracts bets, not swaps. Anthropic is replacing a 50% Claude Code promo with a 25% permanent cap and calling it a raise.

Friday night into Saturday morning. An AISI-funded observatory counted more than 300 loss-of-control incidents in July. Texas skipped the $17 billion multistate Meta deal and took $1.05 billion alone. SK hynix broke ground on a more-than-$4 billion Indiana packaging fab. a16z closed a $1.1 billion hardware-only Machine Age fund. An AI mortgage startup banned AI for most new hires.

Wednesday night plus this morning. Nvidia printed $96.22 billion and guided about $108 billion, then the supply column jumped to $279 billion. Shein is set to price the Hong Kong listing near the midpoint at about $26.5 billion, and Brasília sued Discord for R$500 million.

Tuesday night plus this morning. Instagram kept the teen pause tool as a toggle, OpenAI confirmed the data-centre chief is gone and split the job toward leasing, and Huawei answered a Cairo tender Washington is trying to match after the fact.

Monday’s stack after the plumbing Brief. Export controls showed up inside Nvidia’s Taiwan unit, the supplier started shopping a customer above $30 billion, and the six-figure visa fee came back as a proposed rule.

Monday stack from Sunday’s late coverage. The AI buildout showed up as an M&A number on the hub, a red-state governor’s warning, and a police prompt that turns plates into addresses.

A $6 billion non-exclusive license, 109 job offers, and a letter that insists this is not a buy. The open-weight race still gets the stack.