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AI voice synthesis leader ElevenLabs is reportedly in early talks with investors for a secondary share sale, targeting a staggering post-money valuation of $22 billion. The company's deep expertise in multilingual, realistic speech generation has positioned it strongly against larger tech rivals.
Read MoreU.S. stocks closed mixed on July 3rd, with the Dow Jones rising 1.14% while the Nasdaq and S&P 500 edged lower. Tech stocks were divided, with Apple surging and Tesla plunging. The semiconductor sector saw a sharp sell-off, while precious metals and crypto-related stocks gained.
Read MoreTesla has set a $200 weekly spending cap per employee for AI tools, effective early July. This move signals a shift from broad encouragement to disciplined cost management, even for tech-forward companies, highlighting the new phase of measured and ROI-driven corporate AI adoption.
Read MoreInformed sources indicate Saudi Arabia's actual crude and product exports average about 5.8 million barrels daily, not the previously reported 6.3 million. Earlier figures were inflated by including backlogged shipments, challenging the "market oversupply" narrative. Strait of Hormuz traffic remains below normal levels.
Read MoreThe tech rally is showing clear signs of fatigue. The volatility gap between the Nasdaq 100 and the S&P 500 has widened to levels not seen since the 2008 financial crisis, signaling heightened investor anxiety about a potential pullback, particularly in AI-related stocks. While bullish sentiment persists, the surge in put option buying underscores growing defensive positioning.
Read MoreCanada plans to announce founding members for a "Global Defense Bank" at the upcoming NATO summit. Prime Minister Carney's initiative aims to pool $133 billion in low-cost funds among mid-sized powers, strengthening collective defense amid shifting global order. Initial members are expected to be European nations.
Read MoreCiti predicts aluminum prices may bottom in the coming month before rebounding to $3,300-$3,500/ton by year-end. The bank cites shifting Fed policy, declining inventories, and demand recovery as key drivers, suggesting recent selloffs overstate supply risks.
Read MoreAnalysts warn Iran's de facto control over the Strait of Hormuz has strengthened post-conflict, despite diplomatic efforts. Shipping traffic remains below pre-war levels as regional actors seek alternatives, with Tehran consolidating influence and forcing maritime adaptation to a new reality.
Read MoreThe Federal Reserve's overnight reverse repo facility usage surged to $2.175 billion on July 3, doubling from the previous day's $1.001 billion. This sharp movement in a key money market gauge is closely watched as a signal of short-term liquidity conditions and risk appetite among financial institutions.
Read MoreOn July 3rd, US semiconductor and storage stocks faced a severe sell-off. The Philadelphia Semiconductor Index plunged over 6%, with storage maker SanDisk nosediving more than 14%. Major players like Micron and Arm fell over 6%, dragging down the broader tech sector.
Read MoreThe Trump administration is not currently discussing a government stake in AI firm Anthropic, a source told Reuters. This follows earlier reports that OpenAI had proposed transferring 5% equity to the US government to address regulatory scrutiny and public benefit concerns.
Read MoreTraders are aggressively buying call options on the Nasdaq 100 ETF despite a 30% three-month rally, with tech call costs relative to the S&P 500 hitting 2007 highs. This signals a concentrated bet on AI and growth stocks, though concerns over overheating are mounting.
Read MoreBlackstone's private equity fund for wealthy individuals posted its strongest monthly return ever in May, with a 4.3% net gain. The performance was driven by investments in AI leader Anthropic and payments firm Stripe. Blackstone notes improving exit environments in buyouts and IPOs.
Read MoreDragonfly partner Haseeb views the current crypto market adjustment as a healthy shakeout. He argues that the departure of early participants signals not decline, but a necessary cleansing similar to post-dotcom bubble. He remains strongly bullish on ETH and SOL, seeing crypto as the natural evolution of technology and the internet.
Read MoreSecuritize has listed on the New York Stock Exchange under the ticker SECZ. The tokenization platform's public listing marks a significant step for the industry within traditional finance. Raised capital will support compliance infrastructure and business expansion.
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