Good Evening!
My co-worker told me that mercury is in retrograde and, per my understanding, none of this week's chaos is anyone's fault.
Here are the 7 things you missed today:
1. ⚡ Google's New AI Chip Aims to Run Gemini Up to 10x More Efficiently
Big Tech's scramble to escape its Nvidia dependence has a new entry. Alphabet is designing a server chip, internally dubbed "Frozen v2," that The Information reports could be six to 10 times more efficient than Google's current AI chips, measured by tokens generated per unit of power. It's slated for 2028, and Google didn't confirm or deny the report.With Alphabet planning $180–190 billion in AI spending and investors increasingly antsy about the payoff, the efficiency story gave the stock a roughly 3% bump Monday, right before its earnings later this week. (TechCrunch)
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3. 🤝 Microsoft Bets on AMD to Loosen Nvidia's Grip
AMD announced Monday that Microsoft will deploy its new Helios rack-scale AI system on Azure, using it to power frontier-model inference for Microsoft, its AI customers, and Azure AI services. Helios bundles AMD's own GPUs, CPUs, networking chips, and software into a single system which is positioned as the first credible challenger to Nvidia's dominance in AI hardware. AMD expects to start shipping to Microsoft and other customers before the end of 2026. (Quartz)
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5. 💳 Samsung Launches Its First US Credit Card
Samsung is taking a page from Apple's playbook. The company launched the Samsung Galaxy Card, its first-ever US credit card, issued by Barclays on the Visa network and built directly into Samsung Wallet. The Samsung Galaxy Card, its first-ever US credit card, issued by Barclays on the Visa network and built directly into Samsung Wallet. The no-annual-fee card offers tiered cash rewards and doubles as Barclays' first digital-wallet-native card. This is a push to grow its US payments footprint against Apple Pay and Google Pay. (Reuters)
6. 🏛️ US AI-Safety Chief Resigns After Just Three Months
Chris Fall, director of the US Center for AI Standards and Innovation (CAISI), has resigned barely three months after being appointed to lead the federal AI testing institute at the Commerce Department. NIST Director Arvind Raman, a former Purdue engineering dean, will step in as acting director, leaving the office without permanent leadership. The Commerce Department gave no reason for the departure. This shakeup in the administration's evolving approach to AI is notable given CAISI's role testing unreleased models from Anthropic, OpenAI, Google DeepMind, Microsoft, and xAI for security risks. (Reuters)
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7. 📈 Wall Street Ticks Up With Megacap Earnings on Deck
After last week's chip-driven rout, stocks steadied to open the week. US indexes edged higher Monday as semiconductors recovered. The S&P 500 rose 0.42% and the Nasdaq 0.79% at the open, with memory names like Micron and Western Digital up 3–4%. The bigger test comes from a heavy earnings slate this week, including Alphabet, Tesla, Intel, and IBM. Philadelphia Semiconductor Index closed Friday more than 20% below its late-June record — a bear-market drop — leaving investors hungry for proof that AI spending is translating into actual earnings. (Reuters)
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