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OpenAI’s ChatGPT ads business hits $1 billion run rate as Europe gets self-serve access
That figure comes from multiplying current monthly ad revenue by 12, so it's a snapshot of where things stand today.
Meta’s Business Set to Escape Lawsuits Unscathed
Meta’s $17 billion settlement with state attorneys general includes a long list of restrictions for teen users, but it won’t hold back its underlying business.
OpenAI's ChatGPT advertising business posted $1 billion in annualized revenue
The roughly 200-day-old ad business is now available in more than 40 countries, with self-serve access expanding Monday
Lithium stakeholders announce $1.5 billion deal
Smackover Lithium, a partnership between Standard Lithium Ltd. and Equinor ASA announced Monday (Aug. 31) the signing of its second commercial offtake agreement for the South West Arkansas Project (SWA...
Lithium stakeholders announce $1.5 billion deal
Smackover Lithium, a partnership between Standard Lithium Ltd. and Equinor ASA announced Monday (Aug. 31) the signing of its second commercial offtake agreement for the South West Arkansas Project (SWA...
OpenAI's ad business shows blistering growth, hits $1 billion annualized revenue run rate
OpenAI's move to serve ads in ChatGPT earlier this year drew ridicule from its chief rival, Anthropic, in the form of a Super Bowl commercial.
How Musk, Thiel, and Altman Misread Science Fiction
Many of the tech billionaires who built our world have taken the wrong lessons from their favorite science fiction.
SLB to acquire Kelvion for $3.4 billion
Oilfield services provider SLB said on Monday it will acquire thermal management provider Kelvion from Apollo Global for $3.4 billion in cash, not including debt.
OpenClaw that Sam Altman spent billions on and claims to have beaten GTA 6 gets 'largest update in its history'
OpenClaw has rolled out OpenClaw 2.0, marking the most extensive software upgrade in the open-source artificial intelligence (AI) agent platform’s history since its debut last year. Announcing the release, the development team playfully referenced Rockstar Games’ upcoming November title launch with the social post, “HA!
Global Markets and Technologies for Electronic Health Records to Reach $52.2 Billion by 2030, Driven by Rising Chronic Disease Burden and Digital Health Adoption
“The global EHR market is projected to grow from $36.5 billion in 2025 to $52.2 billion by 2030 at a 7.4% CAGR as healthcare providers accelerate cloud deployment, interoperability and AI-enabled clinical workflows.”Boston, Aug. 31, 2026 (GLOBE NEWSWIRE) -- The global market for electronic health records (EHR) is projected to expand from $34.2 billion in 2023 to $52.2 billion by 2030, at a compound annual growth rate (CAGR) of 7.4% during 2025–2030, according to the BCC Research report Global Ma
Mark Walter scandal, LA Lakers sale raise concern about ownership in pro sports
Billionaire Mark Walter’s purchase of the Los Angeles Lakers and his subsequent forced sale of the team less than a year later amid allegations of financial crimes at his companies are sparking fre…
Proposed Medicaid Cuts Could Cost Maternal and Children’s Health Care Billions
An estimated $19.7 billion in Texas health care funding is at stake under proposed changes to Medicaid payments. The proposed rules from the Centers for
Shein’s dressed for its long-awaited market debut in Hong Kong. But the party may be over
Shein was the ultimate disruptor in fashion. By turning online trends into $11 jeans or $3 crop tops in a matter of days, the ultrafast fashion retailer overtook established companies such as Zara and H&M, prompting it to eye an IPO that would value the company at nearly $100 billion.
Trump says Venezuelan oil will lower gas prices. Analysts disagree.
Analysts say Venezuela needs years of investment to boost oil production, and that 65 billion barrels won't materialize overnight.
Canada's retaliatory tariffs poised to hit Michigan manufacturing
Canada's retaliatory tariffs on U.S. goods could constrain about $1.5 billion worth of Michigan exports, according to a Detroit News analysis.
Philippines’ richest billionaire agrees to buy African port operator spanning three countries
Enrique Razon-controlled ICTSI has agreed to acquire an African port operator with businesses in South Africa, Mozambique and Namibia
GTA VI Extended Gameplay Preview Attracted Over 4 Million Live Viewers
It's been known since Rockstar released the first trailer for GTA VI that the upcoming action game would have a massive impact on the gaming industry, and analysts have predicted week-one sales of $4.5 billion when the game launches in November. Following Rockstar's GTA VI showcase at Gamescom,...
NASA's Roman Space Telescope launches with JPL tech aboard
The $4.3-billion observatory will aid the search for "Earth twins" and explore the nature of dark matter and dark energy.
Colorado Sues EarnIn For “Immoral, Unethical, Oppressive and Unscrupulous” Business Practices
Hey all, Jason here. When this hits your inbox, I should be en route to the airport — not to go anywhere myself, just to pick up my better half. I must admit, it’s been strange to be home alone (well, with two dogs) for two weeks! Really lets me “optimize” to spending more time on reading/writing/working, whether that’s healthy or not! Looking forward to getting back into a (somewhat) more balance routine. Subscribe or Support by Upgrading Compare Notes With the People Who Built Modern Fintech Partner content: Remitly CEO Sebastian Gunningham. Increase founder Darragh Buckley. Linda Du, Co-founder & President at Valon. They’ll unpack the decisions behind building and scaling major financial products: what they got right, what broke, what they would do differently, and how AI and new infrastructure are changing the operator playbook. Most events tell you where fintech is going. NerdCon puts the people who built the present in the room and asks them what comes next. Expect an operator-led conversation grounded in real products, real trade-offs and lessons earned the hard way. Fintech Business Weekly readers save 20% on Regular tickets with code FBW20 before standard pricing ends September 11. Meet the Builders Things To Know & Other Good Reads Advent and Stripe Abandon $50 Billion Pursuit of PayPal (Bloomberg) Trump Family’s New Crypto Bank Is Backed by Abu Dhabi Sheikh (Wall Street Journal) The multiplying risks of financing data centres (FT) Let the Bond Market Speak (Wall Street Journal) Did we waste a crisis? Modest proposals to reform deposit insurance. (Fintech Takes Banking) Untangling Guggenheim: How Private Credit Built Its Own Universe (Net Interest) The Hater’s Guide To Circular Financing — Part One (Ed Zitron) Fiat Ventures Rebrands to FGV Capital, Announces $35M Oversubscribed Fund II (BusinessWire) Socure Announces Strategic Growth Investment at $5.2B Valuation and Acquires Agentic Operations Platform Fravity (Socure) Listen: When Consumer Protection Disclosures Work Too Well (Consumer Finance Monitor Podcast) Colorado Sues EarnIn For “Immoral, Unethical, Oppressive and Unscrupulous” Business Practices When Andreessen Horowitz led EarnIn’s $39 million Series B in 2017, Alex Rampell, a partner at the storied venture capital firm, described EarnIn’s small-dollar advance product as “free,” relying on “entirely on voluntary contributions instead of fees.” Rampell favorably compared EarnIn’s approach to typical payday loans, writing, “Payday loans historically have had the potential to be a slippery slope for consumers into financial distress: opaque systems and steep fees that are hard to repay and set individuals back further than where they started. For many Americans living paycheck to paycheck, that kind of slide into debt can be extremely difficult to recover from.” But EarnIn’s product — which, the company says, isn’t a “loan,” legally speaking — ends up being anything but free for most users. While it is technically possible to take a no-fee advance from the company, most users incur “Lightning Speed” (instant funding) fees and/or ostensibly optional tips that combined can equate to annualized percent rates that can reach over 1,000%. With an average term of 9.77 days, even fees and tips that are small on an absolute dollar basis are equivalent to high APRs on an annualized basis. A lawsuit filed last week by Colorado Attorney General Phil Weiser against EarnIn describes the company and its product and business practices quite differently than Andreessen’s Rampell; “EarnIn’s business practices are unfair because they are immoral, unethical, oppressive and unscrupulous,” the complaint, filed in District Court in Denver, Colorado, says. EarnIn’s marquee product, Cash Out, isn’t a loan, the company says, as Cash Out is not “[f]orward [l]ooking” because “[t]he money is transferred based on earnings to date,” does not carry a mandatory fee to access funds, and is “non-recourse,” meaning EarnIn cannot pursue recovery from users who don’t repay advanced funds. EarnIn is sometimes referred to as an “Earned Wage Advance” service. Though, unlike some others in the broader category, EarnIn does not integrate with employers’ payroll or time and attendance systems. Rather, EarnIn attempts to verify a user’s income and employment, by examining direct deposit transaction data in their linked external bank account, by using GPS location and Bluetooth data to estimate a user’s time spent at work, if they work in a fixed location, and/or by having a user provided a work email address. While repayment is theoretically optional, as EarnIn would have no recourse, such as reporting non-payment to the credit bureaus or a collections agency, this is anything but clear to users of the EarnIn app, Colorado’s complaint argues. During the process of taking a Cash Out, users must agree to a preauthorized debit of the amount advanced, plus any expedited funding fee and/or tips. Though users technically can revoke this ACH authorization, the fact that they have this right isn’t presented to users during the Cash Out process, but rather is included in linked terms and conditions few users are likely to actually read. And users who do wish to revoke their ACH authorization must do so three or more days before the scheduled transaction date by emailing EarnIn’s customer support. Similarly, EarnIn’s marketing claims that it carries “no interest” and “no mandatory fees” is technically true, but is not the reality for many of the app’s users, the Colorado complaint argues. Further, EarnIn has extensively marketed to users the ability to “access your pay today,” to get “instant” funds, and to get funds “the same day you work” — when, in reality, this speed of access was only possible by paying the additional, undisclosed Lightning Speed fee. The Colorado complaint highlights this contradiction specifically, noting: EarnIn tells consumers that they can ‘Make any day payday with EarnIn’ and that there no ‘hidden’ or ‘mandatory fees.’ For a consumer to access their pay on the same day requested, they would have to pay the Lightning Speed fee. In the fine print of the advertisement EarnIn discloses that ‘[f]ees apply to use Lightning Speed,’ a direct contradiction to the larger text of the advertisement, and a fact that would not be immediately understood by a consumer as ‘Lightning Speed’ is not defined nor explained. Like other small-dollar lending services, rather than explicitly charge interest, EarnIn collects a markup on the optional Lighting Speed fee, which, given the nature of the transactions, many users opt for, as well as offering users the option to leave “tips.” EarnIn leverages either Real-Time Payments (RTP) rails or push-to-card via debit rails if a user opts for the optional Lightning Speed. But while these capabilities cost EarnIn, on average, $0.075 or $0.20 per transaction, respectively, EarnIn charges users significantly more. Initially, EarnIn charged as little as $1.99 for Cash Outs up to $24. But EarnIn has hiked these fees multiple times, and now charges $4.99 for Cash Outs up to $75 and $6.99 for those over $75. According to the Colorado complaint, EarnIn leverages “dark patterns” to manipulate users and to make it more difficult to avoid tipping. Examples of these “road blocks” highlighted in the complaint include: As of 2023, in the EarnIn app, a consumer attempting to get a loan under the default settings had to make at least eighteen separate taps to complete the transaction and reduce the tip to $0. There is an alternative method to leave a $0 tip, via the “Custom tip” feature, but EarnIn made this option difficult to access by visually deemphasizing it and positioning it near devices’ “home” button. Using language and imagery such as “Tip to pay it forward,” “Your generosity supports the service + helps,” “Your tips make a difference,” and “[t]he APR for this cash out is 0%. Your tips help support us.” While Lightning Speed and tipping are, in theory, both optional, in practice, users nearly always ended up paying something. According to the Colorado suit, users were charged either a tip or an expedite fee for more than 92% of transactions, with an average APR of nearly 388%. And, although the advances are “non-recourse,” EarnIn successfully collects on nearly all transactions — 99.18%, according to the complaint, which, Colorado argues, “demonstrat[es] that EarnIn’s advances function as high cost loans, not voluntary payments.” The share of EarnIn users incurring fees — despite the product being marketed as 0% APR — is hard to reconcile with Andreessen investor Rampell’s favorable description of EarnIn vs. “opaque systems and steep fees” associated with payday loans, which, Rampell says, can be “extremely difficult” for borrowers to extricate themselves from. According to Colorado’s suit, EarnIn’s Cash Out product “trapped many consumers in extreme cycles of high-cost reborrowing.” The suit gives an example of one consumer in the state, who took out a whopping 1,151 loans, paying a total of $4,038.50 in Lightning Speed expedited funding fees on loans that averaged the equivalent of 1,421% APR. Another Colorado user, the suit says, took out 1,033 loans, paying $8,561.22 in tips and fees at an average APR of 1,539% . These types of usage patterns demonstrate “the severe and repeated financial harm caused by EarnIn’s illegal lending model,” the Colorado complaint argues. In aggregate, from January 2023 through July 2025, EarnIn extended 3.1 million loans to 56,778 users in Colorado — an average of nearly 55 transactions per person during the time period. EarnIn lent more than $300 million and collected more than $16 million from Colorado users in Lightning Speed fees and in tips. Ultimately, the Colorado complaint argues that “EarnIn’s Cash Outs are loans under Colorado law, and EarnIn’s contention that its product is not a loan based on its disclaimer of any legal repayment obligation lacks any real-world significance given how the Cash Out transactions actually operate in practice.” Colorado further argues that “EarnIn was not working with companies here in providing consumers with funds but acted as a third-party lender and charged illegally high rates, used deceptive design strategies to extract some charges, and trapped consumers in repeat borrowing. Colorado will continue to stand up for consumers and hold companies accountable when they violate our credit laws or attempt to evade them through misleading practices.” Colorado’s suit alleges EarnIn assesses finance charge in excess of that permitted by Colorado law, that EarnIn failed to make legally required disclosures to Colorado borrowers, that EarnIn made supervised loans to consumers without obtaining the requisite license, that EarnIn violated the state’s Deferred Deposit Loan Act, that EarnIn engage in unfair and deceptive trade practices, and that EarnIn made false or misleading statements concerning price. The suit seeks a court order enjoining EarnIn from violating relevant Colorado laws, for EarnIn to refund amounts charged in excess of state law, fees, costs, and penalties, and other relief the court deems to be just. Fintech Business Weekly is made possible by the generous support of paying subscribers — bringing you independent analysis of banking, fintech, and crypto without fear or favor. You can support my work by becoming a paying subscriber if you aren’t already. Paying subscribers enjoy: access to the entire archive of nearly six years of newsletters extended versions of the weekly newsletter, with additional content and analysis and (for founding member tier) quarterly personal 1:1 fintech Q&A / strategy calls with me, tapping into my unparalleled knowledge of the intersection of banking and fintech and experience working in the sector, including helping to launch Goldman Sachs’ retail bank Marcus Support Fintech Business Weekly You can also support Fintech Business Weekly by sponsoring a newsletter or podcast, putting you in front of 93,000+ of the most influential decision makers in banking, fintech, and crypto. Learn more about sponsor opportunities or request a media kit by dropping me an email. Q2 Quarterly Banking Profile: Five Quick Takeaways The FDIC released its quarterly banking profile, which is always worth a read, for the second quarter. The profile provides an aggregate snapshot about the overall health of the 4,238 institutions whose deposits are insured by the FDIC, who, collectively, hold more than $26 trillion in assets and saw a total net income of more than $90 billion in the second quarter. Net income was up 12% vs. Q1 2026, with lower provisions and realized gains on securities helping to drive the improvement, somewhat offset by increases in non-interest expense and applicable income taxes. Overall net interest margin was basically flat quarter over quarter (up 1 basis point vs. Q1 2026), though community banks saw NIM grow by 10 basis points, to 3.81%. Unsurprisingly, given that interest rates haven’t changed, unrealized losses on securities changed little, edging up slightly to $326.7 billion vs. $325.1 billion in Q1 2026. Aggregate credit quality has remained benign, with asset quality actually improving slightly in Q2. Overall, institutions reported a 9 basis point decline in their past-due and non-accrual rate, to 1.44%. Net charge off rate also declined by 2 basis points, to 0.57%. And finally, the FDIC’s deposit insurance fund stands at $161.1 billion, making the DIF reserve ratio 1.48% — above the statutory minimum of 1.35%, but still below the designated target reserve ratio of 2%. [Paid Subscriber Exclusive] Nissan Withdraws ILC App, State Associations Plan BankChain Alliance, FDIC Defines “Unsafe or Unsound Practice” For First Time Automaker Nissan withdrew its application to charter a Utah industrial loan company and its corresponding application to the FDIC for deposit insurance last week, on August 19th. Nissan’s application had been outstanding for more than a year, as it originally applied in June 2025. Recent applications to the OCC to form national banks have been decisioned, one way or the other, substantially more quickly than has historically been the case.
NASA’s Nancy Grace Roman space telescope launches
During its five-year primary mission, Roman is expected to observe billions of stars and galaxies, 100,000 exoplanets, and more.
How the billionaire tax backers plan to combat a cash avalanche
The campaign to enact a billionaire tax in California is hoping to counter their cash disadvantage with a type of voter outreach that has never been attempted at this scale.
Arms and the £5m man: Farage megadonor Christopher Harborne’s military empire
Reform UK denies donor and crypto-billionaire’s global interests in arms and military could present a conflict of interest over its defence spending policy
Boeing's Back in the Defense Business With a Big $131.2 Billion Order for New F-15 Fighters
Boeing's once-beleaguered defense business may drive future profits at the aerospace giant.
Intel Sold Its NAND Memory Business for About $9 Billion. Micron Is Now Worth More Than Twice What Intel Is.
The chipmaker exited NAND memory in one of the semiconductor industry's biggest asset sales. Nearly six years later, the market has put a price on what it walked away from.
Trump says U.S. has entered deal with Venezuela to take control of 65 billion barrels of oil reserves
President Trump says his administration has entered a sweeping agreement with Venezuela that could give the U.S. access to vast amounts of the South American country's untapped oil reserves, at cost.
Fans, business owners react to Rays leaving St. Pete: 'A big change'
As the Tampa Bay Rays move closer to a $2.3 billion ballpark in Tampa, St. Pete businesses surrounding Tropicana Field are preparing for a new reality without the team.
Meta reaches $18 billion settlement, rising measles cases in the U.S.
Watch the full episode here.
Trump says U.S. has entered deal with Venezuela to control 65 billion barrels of its oil reserves
The announcement of the deal comes nearly nine months after the U.S. military at Trump’s direction carried out an operation to capture Venezuela’s president Nicolás Maduro and spirit him to the United States to face federal narcoterrorism and drug trafficking charges.
Trump announces ‘biggest oil deal in world history,’ says it will substantially lower gas prices
Trump announces a major oil deal with Venezuela, saying the US secured majority control of 65 billion barrels and the agreement will lower gas prices.
NASA is preparing to launch the Nancy Grace Roman Space Telescope. Here's what to know
NASA plans to soon launch a new space telescope that will survey a billion galaxies to trace how the universe evolved over time, all courtesy of America’s spy program and decades of research into detector technology. Once in position, it will take data that astronomers hope will help answer some of the field’s most puzzling questions.
Even a Billionaire Critic Likes Mamdani’s Business Council
What the rich and powerful have to say about Mamdani’s 15-member board that includes the Liberty CEO and a yogurt billionaire.
Cloud AI Today - Cloud Gaming Thrives as 5G Fuels Traveler Entertainment
The cloud gaming sector is poised for substantial growth, particularly within the traveler segment, as advancements in 5G technology, edge computing, and increased travel fuel demand for entertainment on the go. Projections indicate the market will grow from $3.2 billion in 2025 to $4.1 billion in 2026, with expectations to reach $11.03 billion by 2030. This expansion is driven by factors such as enhanced mobile connectivity, widespread adoption of portable gaming devices, and rising interest...
Exports, Alliances, and Ukraine: The Politics Behind France's Arms Sales
Paris – France won €21.2 billion ($24.7 billion) of export orders for weapons in 2025, helped by India’s contract for 26 Rafale fighter jets and related armaments, the annual report of the armed forces ministry to parliament said. That 2025 value fell slightly from foreign arms orders of €21.6 billion in the previous year. “With €21.2 […]
Meet the Megadonors Who Have Poured $1.2 Billion Into the Midterms
The leaderboard of the top 20 donors is dominated by the tech industry and ultrawealthy Republicans.
Businesses are getting tariff refunds. Why aren't consumers getting their cut?
A slew of American companies are getting billions of dollars back in tariff refunds after a Supreme Court ruling. Many consumers, though, may never get anything back.
AMC Entertainment (AMC) Edges Toward Positive Free Cash Flow Is Its Debt Strategy Reframing the Story?
Earlier this week, AMC Entertainment Holdings said it is edging closer to sustained positive free cash flow, estimating it needs an industrywide domestic box office of about US$10.40 billion to reach that goal, helped by record adjusted EBITDA, stronger per-patron profitability, and lower interest costs. An important angle is that AMC’s recent refinancing and debt-repayment efforts are expected to cut annual cash interest expense, meaning the box-office level required to support ongoing...
'Right to repair' bill could free contractors' grip on military
The Pentagon spends billions of dollars fixing equipment, and Republicans and Democrats alike want to bring the work in house
Business, government leaders reach deal to nix highway-funding initiative, dedicate billions to roads in other ways
Rather than reallocate existing sales-tax revenue to roads, the plan would create new sources of funding and a new 2027 ballot initiative.
Caesars sets shareholder meeting for Fertitta Entertainment buyout vote
Caesars Entertainment has scheduled a meeting for next month for shareholders to vote on Fertitta Entertainment's $17.6 billion buyout offer.
Parent activist says Meta settlement is 'peanuts,' calls on Zuckerberg to speak out
Cheryl Brown calls Meta's $17 billion settlement "peanuts" after losing her daughter to cyberbullying and urges Congress to pass the Kids Online Safety Act
Historic Meta Settlement Mandates Safer Social Media For Youth
Following a landmark agreement in the United States on Wednesday, social media giant Meta agreed to pay up to $18 billion to US states. This historic
Corewell Health announces $1.7B expansions in Troy, Grand Rapids
Michigan’s largest healthcare provider announced today that it plans to invest $1.7 billion to expand its hospital complexes in Troy and Grand Rapids.
Nvidia’s Hidden $40 Billion Business Beyond Big Tech Is Growing Twice as Fast
Nvidia's data center customer list is changing fast, and the new buyers look nothing like the hyperscalers who built the company's dominance. Whether that signals genuine strength or a subtler kind of risk depends on who is actually paying the bills.
Corewell Health Announces $1.7 Billion Investment to Build Stronger Healthcare for Michigan
Major projects in Grand Rapids and Troy will expand access, modernize patient care GRAND RAPIDS and TROY, Mich., Aug. 27, 2026 /PRNewswire/ -- Corewell Health™ is making a $1.7 billion...
Forbes Daily: Nvidia Beats Expectations As Data Center Business Grows
Today’s Forbes Daily covers an AI personal assistant, Meta's $18 billion settlement, FDA approves pancreatic cancer drug, Abercrombie and Fitch's market surge and more.
How The Founder Of MaryRuth’s Vitamin Supplements Built A Billion-Dollar Business
The inside story of the crazy, creative financing behind one of America’s best-selling wellness brands.
There are a record 3,795 billionaires in the world right now—and just like Jeff Bezos, their favorite investments are sports and philanthropy
Billionaires from Microsoft CEO Steve Ballmer to businessman Robert Kraft are spending their fortunes buying sports teams and funding charitable causes.
The Economic Impact of Health Disparities: Why It Matters for Hospitals and Health Systems
Disparities in health outcomes are associated with approximately $320 billion in annual healthcare spending, a figure projected to reach $1 trillion annually by 2040 if current trends continue.
Nvidia in talks to acquire Hugging Face in $13 billion deal, Business Insider reports
Nvidia has been in serious talks to acquire AI platform Hugging Face in a deal that would value the company at more than $13 billion, Business Insider reported on Wednesday, citing a person familiar with the matter.
Nvidia in talks to acquire Hugging Face in $13 billion deal, Business Insider reports
Aug 26 (Reuters) - Nvidia has been in serious talks to acquire AI platform Hugging Face in a deal that would value the company at more than $13 billion, Business Insider reported on Wednesday, citing a person familiar with the matter. Reut...
Nvidia has been in talks to buy Hugging Face for more than $13 billion
Nvidia has held talks to acquire Hugging Face for more than $13 billion as the chip giant expands its AI dealmaking.
Meta to restrict teen social media use under $18 billion settlement
The settlement stems from a lawsuit brought by attorneys general from across the country, including New York.
Viral AI startup Instinct has raised $350 million at a $2.5 billion valuation
The startup is only a year old but it has already generated a massive amount of hype (and money) while also spurring privacy concerns.
Meta settles $17B lawsuit with Iowa and 46 other states over teen mental health claims
Meta has agreed to a $17 billion settlement with 47 states, including Iowa, over allegations that its platforms harmed teens' mental health, with Iowa set to receive $126 million over the next decade.
Mental health advocates hope Meta settlement funds go to more resources
At the center of the lawsuit that Meta settled Wednesday for $17 billion was how social media affects the mental health of young people.
Meta's $18 billion lawsuit changes the future of social media
The historic settlement may change the future of social media. It may mean little for the teens at the heart of the lawsuit.
VCs Are So Obsessed With This AI Assistant That Its Valuation Jumped Fivefold In Weeks
A hot new AI agent called Instinct was valued at $500 million earlier in August, sources say. Now it's raising a new round at a $2.5 billion valuation from Benchmark and Index.
SBA seeks to redefine small business, with some revenue caps reaching $1 billion
Critics warn that dramatically higher thresholds could leave the smallest firms competing against far larger rivals for federal contracts and loans
Trump Administration Wants Billion-Dollar Businesses to Qualify as ‘Small’
Higher revenue and employee limits for small businesses that get federal contracts and loans could disadvantage the smallest companies, their owners say.
Caesars Entertainment sets shareholder vote on Fertitta buyout
Caesars Entertainment shareholders will gather inside a conference room at the Eldorado Resort in Reno next month to vote on whether to accept a $17.6 billion b
Photos show National Park System's history on its 110th birthday
The National Park System, with a budget of $2.1 billion and full-time employee count of 12,600, turns 110 years-old today. Here's a visual history.
Fast and Furious Star Formation in Starburst Galaxies
While our Sun was born almost five billion years ago, there are brand new stars forming today. Within our Milky Way galaxy, the vibrant glowing regions such as the Orion, Eagle, and Carina Nebulas are places where stars are currently being born. In some galaxies, such as many ell...
Hoosier businesses need a stable world order, group says
Indiana companies export more than $68 billion of goods annually, while trade supports about 750,000 jobs in the state, according to the U.S. Global Leadership Coalition
Canada announces retaliatory tariffs on $27.6 billion of U.S. goods
The tariffs are in response to the United States imposing a 50% import tax on about $28 billion of Canadian goods after trade talks collapsed
Canada announces retaliatory tariffs on $27.6 billion of U.S. goods
The tariffs are in response to the United States imposing a 50% import tax on about $28 billion of Canadian goods after trade talks collapsed
Canada announces retaliatory tariffs on $20 billion worth of US goods, unveils support measures
Canada on Tuesday announced retaliatory tariffs on C$27.6 billion ($19.94 billion) worth of United States goods, matching dollar-for-dollar new duties imposed by Washington, and unveiled financial support for Canadian businesses and workers caught in the escalating trade war.
Boeing’s New $131 Billion F-15 Contract Boosts Defense Business
Boeing was awarded a contract to maintain and upgrade its F-15 fighter jets.
Gardner approves rezoning for proposed $1.5 billion entertainment district
An arts and entertainment district is one step closer to becoming a reality in Gardner, Kansas, after rezoning for the project was approved
Porsche inks $1.5 billion deal for AI deployment with India’s largest IT services firm Tata Consultancy
Indian IT services giant TCS has secured a $1.5 billion contract to deploy AI for German sports carmaker Porsche.
Los Angeles Lakers worth 'every bit' of $12.5 billion price tag: 76ers and Commanders owner Josh Harris
The Los Angeles Lakers set a new record for a professional team sale price at $12.5 billion, and sports investor Josh Harris said the team is worth "every bit."
Shell is attracting bids for its U.S. chemicals plants that could fetch $8 billion
ExxonMobil, LyondellBasell, Apollo Global Management, and Kuwait Petroleum have submitted non-binding offers for Shell's U.S. assets
UPS is investing $2 billion in international, healthcare and supply chain businesses
UPS told CNBC exclusively that the company is investing more than $2 billion into its international, healthcare and supply chain businesses.
Healthcare costs, Medicaid cuts draw increased scrutiny from NC Democrats ahead of midterms
Under the One Big Beautiful Bill Act, North Carolina is expected to lose nearly $50 billion over the next 10 years, according to analysis by the NC Department of Health and Human Services. Democrats say families will be hard hit by the looming cuts.
Alibaba launches Wan3.0 AI video model after $10 billion share sale
Alibaba officially rolled out its latest AI video generation-model Wan3.0 on Monday with enhanced capabilities after the Chinese internet giant launched a $10 billion share placement to fund rising AI spending.
Exxon Eyes Shell's $8 Billion U.S. Chemicals Business
ExxonMobil is among several bidders pursuing all or part of Shell’s U.S. chemicals business in a potential deal valued at up to $8 billion.
The company selling a $3,000 mattress cover that billionaires love wants to become a healthcare company that treats sleep apnea
Eight Sleep wants to turn its consumer sleep data into a healthcare business, but first it has to clear regulatory and clinical hurdles.
Alibaba set to open down 8% in Hong Kong after $10.2 billion share placement plan
Hong Kong-listed shares of Alibaba are set to open 8% lower on Monday after the Chinese e-commerce and cloud computing giant launched a $10.2 billion share placement to fund AI development.
InterSystems Asia READY 2026 to Showcase AI-Ready Healthcare
BANGKOK, August 24, 2026--InterSystems, a creative data technology provider managing over one billion healthcare records globally, will bring healthcare leaders from across Asia to Bangkok for InterSystems Asia READY 2026, where the focus will be on how trusted data, interoperability, and practical artificial intelligence (AI) can accelerate smarter healthcare delivery and strengthen Thailand's position as a regional medical hub.
Gilead’s HIV Business is Surging, but is the Company Too Dependent on One Franchise?
Gilead Sciences, Inc. (NASDAQ:GILD) delivered strong fiscal Q2 2026 results, with total revenue rising 10% year over year to approximately $7.8 billion. The performance was primarily driven by continued growth across its HIV franchise, including Biktarvy and the newly launched Yeztugo. Gilead also raised its full-year product-sales guidance following the quarter. However, HIV products generated […]
Shein launches up to $1.8 billion Hong Kong IPO
Online fast-fashion retailer Shein launched book building for a Hong Kong initial public offering on Monday, aiming to raise up to HK$13.86 billion ($1.77 billion), according to an offering prospectus.
Zoetis Earnings Reveal a Divided Business, But Can its Pipeline Restore Growth?
Zoetis Inc. (NYSE:ZTS) entered 2026 as a leader in animal health, but its latest earnings show that even a strong market position cannot fully insulate the company from weaker consumer demand. Fiscal Q2 2026 revenue remained flat at $2.5 billion and declined 1% on an organic operational basis, as pressure in the U.S. companion-animal market […]
Hugging Face could be acquired for $13 billion amid AI boom
Hugging Face, an AI developer platform, has been exploring a potential $13 billion sale, highlighting its key role in the AI ecosystem.
Bipartisan Energy Politics | Reading and Podcast Picks
Reading and Podcast Picks is a collection of what we’ve been reading and listening to over the last week or so about energy topics. In addition to these R&P Picks, paid subscribers receive access to the full archives, Grid Roundups, and select episodes of the Energy Capital Podcast. Please subscribe today. Texans, legislators debate transmission lines at hearing | Texas Tribune “Republican legislators, Democratic statewide candidates, landowners from rural Texas and environmentalists” alike joined together Wednesday to protest the buildout of 765-kV lines across the state. At the protest and nine-hour hearing that followed, lawmakers heard a variety of recommendations, including from local officials arguing for more local control of data center proposals and more time to reform the process behind approving transmission lines across Texas. Though discussed in separate hearings, landowners and protesters said the issues are connected… Regulators have already been working through a new way to decide how much of the cost of building new transmission lines needs to be paid for by individuals and how much needs to be paid for by companies such as data centers. Experts said they believe the new system will lower the burden on residential consumers relative to the industrial groups. Data-Center Backlash Leads to New Land Rush in Texas Oil Patch | The Wall Street Journal While the data center protests rage, investors converge on the Permian Basin to build data centers powered by cheap natural gas. “A lot of places you see all over the country they’re worried about water, they’re worried about power, they’re worried about transmission, and the Permian has all of those things in spades,” said EagleRock Chief Executive Greg Pipkin Jr. Dallas-Fort Worth Dethrones Virginia as the World’s Top Data Center Market | Dallas Innovates Two reports show growth in North Texas data centers despite political concerns about the industry. Boasting five highly ranked data center markets, Texas is experiencing an explosion of data center activity. Long anchored by the DFW market, “the state is growing at a pace that could soon bring total installed capacity in line with — and potentially beyond — that of Virginia,” the Cushman & Wakefield report said. A new report from commercial real estate services provider JLL takes a slightly different view, anointing Texas the top data center market in North America. Texas eclipsed longtime frontrunner Virginia based on the level of existing and under-construction data center inventory in the state as measured by gigawatt capacity. A gigawatt equals 1 billion watts.
The CEO of $1.2 billion learning platform Preply says it all started with his online search for an English tutor
Kirill Bigai, the cofounder and CEO of learning platform Preply, had to take on a consulting gig while getting paid almost nothing building the business.
Trump threatens lawsuit against nonprofit that questioned whether National Guard plan lessened crime
The letter gave the Washington, D.C.-based Center for American Progress until the end of business Friday to issue the retraction or face a $5 billion lawsuit. The center declined.
Paramount and California to Hold Preliminary Talks on Warner Bros. Deal
The discussions on Monday are an early effort to resolve a lawsuit that California and 11 other states filed to block Paramount’s $111 billion acquisition of Warner Bros. Discovery.
Blowing Up an Asteroid With a Nuke: Scientists Shocked by Final Result - Futura-Sciences
Asteroids: A Perennial Threat Over Billions of Years The risks asteroids pose to Earth never truly go out of style—they regularly return to the spotlight. And for good reason: these threats are all too real. Unlike any species before us in the 4+ billion-year saga of Earth’s biosphere, we are...
Inside Germany's $14 billion plan to deter Russia
Germany is planning a new long-range strike arsenal of cruise missiles, Tomahawks, and future hypersonic weapons to help deter Russia.
Proposed Paramount-Warner Bros. merger threatens 4,500 Los Angeles County entertainment jobs
Local officials and labor leaders warn that proposed studio consolidation could wipe out billions in business revenue and devastate local vendors. By A new economic report warns the proposed Paramount-Warner Bros. Discovery merger puts 4,500 direct Los Angeles County jobs and billions in revenue at risk.
‘Penchant for bling’: can Sports Direct’s Mike Ashley take a bigger slice of luxury retail?
Frasers billionaire bought Harvey Nichols and increased Hugo Boss stake despite tough times for high-end stores
U.S. imposes 50% tariffs on $20 billion worth of Canadian products
President Donald Trump’s import taxes will hit about 5% of what Canada ships to the United States every year, including products ranging from hockey sticks to tongue depressors.
U.S. imposes 50% tariffs on $20 billion worth of Canadian products
President Donald Trump’s import taxes will hit about 5% of what Canada ships to the United States every year, including products ranging from hockey sticks to tongue depressors.
NASA’s nuclear Dragonfly copter to search for signs of life on Titan: 'A lot's riding on it'
As the agency pivots to putting astronauts on the moon, this $3-billion space-copter is the agency’s last large-scale mission to explore the solar system.
Nearly $20 million in federal dollars help expand rural healthcare access in Marion, Polk
Marion and Polk counties are getting a slice of a $50 billion federal funding package to advance rural healthcare access.
Fannie Mae reportedly cuts senior executives across business lines
About 10 senior Fannie Mae leaders were let go this week as Pulte restructures, even as Q2 2026 net income hit $4 billion.
Healthcare startup Devoted Health could be valued at $25 billion
Devoted Health, co-founded by Ed and Todd Park, is raising a round that might value it at $25B, spotlighting the booming Medicare Advantage sector.
Healthcare startup Devoted Health could be valued at $25 billion
Devoted Health, co-founded by Ed and Todd Park, is raising a round that might value it at $25B, spotlighting the booming Medicare Advantage sector.
The tariff math turns negative as refunds outpace revenue
The Trump administration’s tariff policy has resulted in substantial refunds and continued uncertainty about tariff revenue, Fortune reports. In May 2026, the Treasury refunded approximately $21.97 billion in tariffs while collecting about $21.93 billion. In June, refunds increased to $49.18 billion compared with $23.63 billion in new tariff collections, resulting in negative net customs revenue […]
Gavin Newsom’s unfinished wildfire business
His final legislative push is angering insurance companies, wildfire victims and local officials — and billions of dollars are at stake.