Tuesday, September 1, 2026 · 1:06 AM ET
Stocks
Tesla rose 5% today, marking its best day since early July, ahead of its upcoming Cybercab Launch Event where investors will watch for concrete updates on robotaxi deployment, Cybercab production, autonomy progress, and cost-per-mile economics. Cybercab production has already started with public-road engineering tests and employee rides at Giga Texas; the key question is whether the event delivers real deployment details (timing, fleet size, city expansion) rather than another demo.
Macro
At the G20 summit, Treasury Secretary Bessent said he believes Japan's government and the Bank of Japan will take actions leading to a stronger yen. On the Fed he declined to speculate but noted “you don’t raise into a supply shock,” and said he and Warsh are “on the same page” on bonds while doubting he can move the market’s equilibrium price. He added Trump believes Iran isn’t ready to deal yet and that Operation Outcast aims to bring Iran back to the table.
AI
Anthropic has reportedly signed a $35B cloud deal with Lambda, an Nvidia-backed cloud provider, per WSJ. The twist: Nvidia is effectively the landlord — the data center is being built by Hut 8 in Nueces County, Texas, and Nvidia signed its own agreement with Hut 8 weeks ago to lock down the capacity, which Lambda will use to run chips it bought from Nvidia. It underscores how Nvidia is extending beyond selling GPUs into financing, capacity access, cloud partners, and the physical data-center footprint behind AI demand.
Regulation
The FTC and 22 states are reportedly preparing to sue Amazon over alleged secret ad price hikes. The FTC is expected to claim Amazon manipulated its ad auctions by inserting a “soft reserve” bid above the runner-up, raising the minimum advertisers paid — a practice allegedly begun in 2018 that generated tens of billions over seven years and, in recent years, raised minimum bids 70–80% of the time. Amazon made $68B in ad revenue in 2025; this would be the FTC’s third major case against it.
Stocks
Retail investors bought roughly $250M of Nvidia shares on Wednesday, their 3rd-largest daily purchase since mid-May, extending the retail buying streak to 15 consecutive sessions and more than $2.5B over that period. The largest single day came in late February at about $1.0B. Over the last 12 months retail investors have bought roughly $30.0B of Nvidia shares — the most of any Magnificent 7 company.
Macro
The White House published details of a U.S.–Venezuela oil deal in which Venezuela granted North American Blue Energy Partners 100-year concessions for 17 oil fields holding roughly 65B barrels of proven reserves, with NABEP planning up to $100B of investment. The U.S. government receives a 35% equity stake in NABEP’s parent at “zero cost to taxpayers,” the right to buy 20% of production at cost, right of first refusal on the rest, and board veto power. Venezuela is expected to receive ~$200B in royalties and taxes over 25 years.
Macro
U.S. annual interest expense has climbed to a record 18.5% of federal government revenue, surpassing the prior 18.4% record set in 1991. The share has more than quadrupled over four years, with annual interest expense now at a record $1.25T — more than 4x the 1991 level. The 30-year Treasury yield trades near 5.21%, just 13 bps below its highest since 2007; for context the 30-year was around 8.00% in 1991, showing how much larger the debt burden has become.
AI
BofA reiterated its Buy on Meta with an $810 price target, highlighting the potential early-September launch of Meta’s consumer AI agent Hatch inside Instagram and WhatsApp. Hatch can reportedly browse websites and navigate interfaces to complete autonomous tasks like purchases, bookings, and form filling. Meta is also reportedly targeting an October launch for a new AI model, Watermelon, with Hatch expected to integrate its automation. BofA sees a major long-term opportunity in consumer AI agents given Meta’s global user base.
Options
The top 10 most active options today by contracts traded were TSLA (4.4M), NVDA (3.3M), AAPL (1.3M), AMZN (1.0M), MU (952K), META (606K), SPCX (561K), INTC (470K), PCG (460K), and GOOG (453K).
Macro
Trump said interest rates are “too high” and voiced “a lot of respect” for Fed’s Warsh, adding Warsh will “do what he has to do.” On Iran, Trump said any strikes would be limited while noting a lot of oil is still coming out of the Strait of Hormuz, that ships came through last night with Navy assistance, and that the U.S. is averaging about 30 ships per night out of the Strait. He also said Iran “doesn’t know who the leader is.”
Stocks
Take-Two fell 7% as GTA 6 leaks continued ahead of the November 19 release. Recent leaked footage has reportedly shown combat, vehicle theft, the return of the six-star wanted system, a biplane flight over Vice City, and a 4.5-minute story clip. The pressure reflects growing concern over how much of the game is being revealed before launch, even as GTA 6 remains one of the most anticipated releases in gaming history.
Semiconductors
China’s CXMT has reportedly started small-scale production of HBM3E, the advanced memory used in AI processors including Nvidia’s H200 and Blackwell GPUs, per The Information. Alibaba’s T-Head and Cambricon are already testing CXMT’s HBM and could use it in products as early as 2027, with CXMT planning to expand next year. It could ease a bottleneck for China’s domestic AI-chip industry, though CXMT still faces low yields and remains ~3–5 years behind leaders like SK Hynix, Samsung, and Micron, which are already mass-producing HBM4.
Earnings · Bloomberg
Huawei reported a widening drop in profit as a memory-chip supply crunch and rising component costs weighed on its results. The strain underscores how tight memory availability, fueled by AI-driven demand, is squeezing hardware makers' margins.
Semiconductors · Bloomberg
India rolled out fresh subsidies for chip design and semiconductor manufacturing equipment, drawing on a $13.4 billion fund as it pushes to build a domestic chip industry. The incentives are aimed at attracting chipmakers and strengthening India's foothold in the global semiconductor supply chain.
Semiconductors · The Information
ChangXin Memory Technologies has begun producing HBM3E, an advanced high-bandwidth memory used in many of today's leading AI processors, in small quantities. The milestone could ease a key constraint on China's push to develop homegrown AI chips.
AI · WSJ
SB Energy issued OpenAI warrants valued at an estimated $5.5 billion to secure it as a data-center tenant ahead of the SoftBank-backed venture's IPO, deepening financial ties between the two, according to draft IPO documents reviewed by the WSJ.
Semiconductors · Bloomberg
Nvidia is investing $3.5 billion in Taiwan's MediaTek by buying bonds convertible into its shares, deepening the collaboration as Nvidia works to get more companies building chips that plug into its dominant data-center ecosystem.
AI · Bloomberg
Chinese AI developer Z.AI grew revenue far less than anticipated while its losses persisted, highlighting the mounting cost of competing against rivals such as Moonshot in China's intensifying AI price war.
AI · NYT
Together AI, a U.S. AI cloud startup, is partnering with Saudi Arabia's Humain to build data-center capacity, adding to the wave of Gulf-funded AI infrastructure buildouts.
Markets · FT
Engine Capital is pressing IT-services and software-engineering firm EPAM Systems to launch share buybacks, its activist campaign landing as investors bet that AI will erode demand for consultancies and software groups and weigh on their stock.
Markets · The Information
CoreWeave now trades at just 2.2 times its expected 2028 revenue, well below neocloud rivals Nebius and Iren at around 2.7 times, even though it is the furthest along in building a business to rival established cloud providers. The Information argues its shares, stalled for the past year, are undervalued.
AI · WSJ
Anthropic signed a cloud-computing deal worth $35 billion with Nvidia-backed cloud provider Lambda, with Nvidia itself holding the lease on the data center. The site, in Nueces County, Texas, is being developed by bitcoin miner and data-center developer Hut 8, underscoring how Nvidia is using its financial muscle to lock in demand for its chips.
AI · Bloomberg
The billions being borrowed to fund data centers across Asia are pushing banks toward their capacity limits and making them more selective about which projects to finance, senior Barclays bankers said, with regional data-center financing nearing roughly $29 billion. It's a sign of how the AI buildout is straining the lenders bankrolling it.
AI · Bloomberg
Anthropic's planned IPO is casting a long shadow over other companies' U.S. listing plans as they jockey for investor attention after the Sept. 7 Labor Day holiday. The AI developer's mega-deal is reshaping the fall IPO calendar, forcing rival issuers to time their offerings around it.