Most Important News

1. US Strikes Iran For Sixth Night, Iran Targets US Forces In Syria As Hormuz Disruption Threatens Oil Flows;
2.  June Retail Sales Miss Expectations As 30-year Rates Hit 6.55%;
3. Nvidia CEO Gives Red Bean Buns In Japan;
4. AMD Secures Major AI GPU Contracts;

Nasdaq 100 futures fell sharply on Friday, as mounting jitters over artificial intelligence spending weighed on sentiment and dragged global tech stocks lower.

As of 03:30 PM Riyadh Time, Dow Jones Industrial Average(DJI.US) futures slipped 329 points, or 0.62%. S&P 500 index(SPX.US) futures lost 0.93%, while NASDAQ-100(NDX.US) futures dropped 1.92% as tech stocks came under scrutiny.

Global chip stocks extended declines on Friday, with US-listed shares of chipmakers and adjacent companies falling in pre-market trading. At 5:50 a.m. ET, the PHLX Sox Semiconductor Sector Ishares(SOXX.US) was down by 3.7%, while the semiconductor VanEck Vectors Semiconductor ETF(SMH.US) issued by VanEck had fallen by 3.4%.

Meanwhile, shares of Applied Materials, Inc.(AMAT.US) and Lam Research Corporation(LRCX.US) both shed around 5%. Intel Corporation(INTC.US) and KLA(KLAC.US) were more than 4% lower, while Arm Holdings(ARM.US) and Micron Technology, Inc.(MU.US) each lost 4%. NVIDIA Corporation(NVDA.US) shares were 3% lower.

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As of 03:26 PM Riyadh Time, top pre-market movements are as follows:

US-Iran Conflict Intensifies For Sixth Day

America and Iran clashed for six consecutive days, with Tehran refusing to yield on Hormuz, raising fears of further escalation.

US Debt Surpasses GDP, Sparks Deflation Debate

US federal debt held by the public has exceeded 100% of GDP for the first time since 1946, with interest costs hitting $1.35 trillion annually, intensifying concerns that mounting servicing burdens could prove macro-deflationary despite historical inflation fears and Japan-style high-debt precedents. Read in detail>>

Fed Vice Chair Signals Rate Hikes

Philip Jefferson said the Fed may raise rates if inflation remains high, while AI adoption and Iran war energy shocks complicate policy.

US execs sold $78B in H1

Insider stock sales by US corporate executives hit a 20-year high at nearly $78 billion in H1, signaling caution on high market valuations.

Musk Backs AI Agents Replacing Web Browsers

Elon Musk, CEO of Tesla Motors, Inc.(TSLA.US) and SpaceX(SPCX.US), endorsed predictions that AI agents will supplant web browsers, websites and most software, as OpenAI and Anthropic accelerate workplace-focused AI agents, potentially reshaping internet usage, software demand and productivity-driven macroeconomic dynamics. Read in detail>>

Nvidia CEO Hands Out Buns in Tokyo

NVIDIA Corporation(NVDA.US) and state-backed Noetra will build a Japan “AI factory” using 27,500 GPUs for robotics, deepening ties with SOFTBANK CORP.(SFBQF.US), NEC CORP(NIPNF.US), HONDA MOTOR CO(HNDAF.US) and Sony Group Corporation American Depositary Shares(SONY.US), as NVDA shares retreat short term. And then Jensen Huang gave fans red bean buns in Tokyo. Read in detail>>

Bezos Ventures Intensify Competition With Elon Musk

Jeff Bezos-backed firms escalate rivalry with Elon Musk as Blue Origin debuts Mars-support technology and Amazon-owned Zoox unveils an upgraded autonomous robo-taxi, targeting scaled production beyond 100 units and directly challenging Tesla Motors, Inc.(TSLA.US) in self-driving mobility and SpaceX in space infrastructure. Read in detail>>

TSMC Selloff Highlights AI Capex, Margin Concerns

Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR(TSM.US) shares fell premarket as investors questioned sharply higher 2026 capex of $60–64 billion and a $100 billion Arizona expansion, fearing capital intensity and margin pressure despite earnings beats, stronger AI-driven sales guidance, and analysts’ broadly positive long-term outlook. Read in detail>>

Ark Builds Aggressive Position In X-Energy

Ark Invest, led by Cathie Wood, accumulated X-Energy, Inc. Class A(XE.US) shares across ARK Innovation ETF(ARKK.US), ARK Autonomous Technology & Robotics ETF(ARKQ.US) and Space & Defense after its $1 billion IPO, buying post-IPO weakness as XE trades 53% below its $37.10 high. Read in detail>>

Netflix Shares Slide On Soft Outlook

Netflix(NFLX.US) reported Q2 revenue of $12.56 billion, slightly missing $12.59 billion estimates, while EPS beat at $0.80 versus $0.79. Management cut 2026 revenue guidance, projected softer Q3 EPS, and shares fell 8%, nearing 52‑week lows despite strong ad and live‑event momentum. Read in detail>>

SpaceX Scrubs Starship 13th Test, Shares Slide Further

SpaceX(SPCX.US) aborted a Starship test after four of 33 engines failed to ignite, prompting automatic shutdown and launch delay to next week. Shares fell 3.08% to $127.07, extending a 35.03% monthly decline below the $135 IPO price. Read in detail>>

Coca-Cola Rises Despite fairlife Ransomware Disruption

Coca-Cola Company(KO.US) gained about 1% premarket as investors rotated into defensive stocks, even as a ransomware attack temporarily halted US production at dairy unit fairlife. Shares trade near 52-week highs, supported by strong technicals, premium valuation, and bullish analyst targets. Read in detail>>

Nebius Slides On AI Infrastructure Competition Fears

NEBIUS(NBIS.US) shares fell 13%, extending July’s 17% drop, as investors fear Meta Platforms(META.US) may rent excess AI capacity, pressuring cloud pricing. Despite a $1+ billion Reflection AI contract and asset-light expansion, NBIS faces widening losses, near-term technical weakness, yet retains consensus Buy and $213.89 target. Read in detail>>

AMD Snags Big AI GPU Deals

Advanced Micro Devices, Inc.(AMD.US) secured major AI GPU contracts as data center revenue now exceeds half of total sales.

Apple Targets OpenAI Staff With Legal Letters

Apple Inc.(AAPL.US) reportedly sends legal letters to dozens of OpenAI employees, signaling aggressive enforcement of confidentiality and non-compete obligations, potentially straining Apple–OpenAI relations, impacting talent mobility, and heightening legal risk perceptions around AI-sector employment contracts and intellectual property protection. Read in detail>>

xAI Launches Advanced Grok 4.5 Model

xAI’s privately held unit SpaceXAI launches Grok 4.5, its most powerful AI model, optimized for programming, automation and knowledge work, trained alongside Cursor, signaling intensified competition in enterprise-grade AI capabilities despite no immediate listed-equity exposure. Read in detail>>

SoftBank Leads AI Tech Selloff In Asia

SOFTBANK GROUP CORP(SFTBY.US) plunged 11% in Tokyo and 6.18% in US trading amid a global AI and semiconductor selloff, despite doubling over 12 months. Broader weakness hit Tokyo Electron, Advantest, Kioxia and Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR(TSM.US), as investors reassessed aggressive tech capex. Read in detail>>

AST SpaceMobile Plunges On Misunderstood Convertible Offering

AST SPACEMOBILE INC(ASTS.US) shares fell 17% after announcing a $1 billion 1.625% 2034 convertible note, though effective dilution is estimated near 1.5% due to $97 million capped calls. Execution delays to 2027 hurt credibility, yet Piper Sandler initiated “overweight” with $100 target. Read in detail>>

Alpha Compute FY 2026 Earnings Call

Alpha Compute Corp(ALP.US) full transcript released for its fiscal 2026 earnings call. Read in detail>>