Finance

Nvidia has agreed to buy open-source AI platform Hugging Face for about $12.9 billion, expanding beyond chips into AI software and developer tools.

Uber is cutting over 3,000 jobs, about 10% of its workforce, in its largest restructuring since the pandemic as it refocuses on autonomous vehicles.

Bond yields in the US, UK, Japan and Europe hit multi-decade highs this week on inflation fears, oil price spikes and debt concerns.

Kevin Warsh’s hawkish Jackson Hole speech sharply raised market odds of a Fed rate hike in September, though economists and Treasury officials remain divided.

Trump announced a US deal for majority control of a venture to develop 65 billion barrels of Venezuelan oil, though key terms remain unclear.

EU gas storage has fallen to its lowest August level in 13 years, pushing prices up and prompting a 19% gas price rise for Northern Ireland customers.

Fed Chair Kevin Warsh told Jackson Hole that inflation isn’t beaten yet, pushing bond yields up and raising odds of a September rate hike.

Nvidia shares rose nearly 10% after $96.2 billion in quarterly revenue and a strong AI demand forecast, pushing its market value above $5.49 trillion.

The US launched a major new sanctions push on Iran as the war drags on, while Bessent’s bond market interventions draw criticism from investor Stanley…

Dick’s Sporting Goods shares dropped as much as 20% Tuesday after the retailer cut its outlook, citing Foot Locker sales weakness and a tough footwear market.