Nvidia says it's not expecting to sell any of its H20 chips to customers in China in the current quarter amid international trade tensions.
Why it matters: The company had agreed to give the U.S. 15% of the China sales of its H20 chips in exchange for export allowances — but Beijing has reportedly told Chinese companies not to buy them, concerned about their security and miffed about their downgraded specs.
D.C. Mayor Muriel Bowser on Wednesday said "masked ICE agents" have "not worked" andcalled National Guard troops sent from other states inefficient under President Trump's federal takeover.
The big picture: Despite the critique, Bowser's 20-day review of the crackdown was overwhelmingly positive — a significant toneshift for the mayor, who suggested she and Trump are on the same page when it comes to "priorities around safety and investment in infrastructure."
Packing a few beach reads ahead of the holiday this weekend? You're one of a diminishing few.
The share of Americans who read for pleasure has been falling for the past two decades, finds a new comprehensive analysis of Census Bureau data on time use.
Why it matters: Reading is pretty great — with benefits for literacy, logical reasoning, your job prospects and health, the researchers point out.
President Trump's attempt to fire Fed governor Lisa Cook is the latest example of the president using mortgage fraud investigations as a cudgel to threaten his political adversaries.
Why it matters: Trump could be setting a precedent that gives the president significant discretion to decide what meets the "for cause" standard for firing federal officials who have historically been protected from political intervention.
Canary Capital has filed to create an exchange traded fund for the Official Trump meme coin, which was launched on the eve of President Trump's second inauguration.
Why it matters: Many ETFs for lesser-known cryptocurrencies have been sought by many companies, but so far only funds for bitcoin and Ethereum have been approved.
Uber has placed a lot of robotaxi bets lately, but the three-way deal it struck last month with Nuro and Lucid could be the most consequential — not just for the partners, but for the entire industry.
Why it matters: It's a high-profile experiment to figure out the economics of robotaxis and, perhaps more importantly, to identify a business model that can be profitable for all.
U.S. infrastructure investing is becoming unstable, particularly when it comes to renewable energy projects.
Driving the news: The Trump administration last week ordered a stop to work on an offshore wind farm in Rhode Island, even though 65 of the 85 turbines already are installed.
Google Vids is now providing users of the workplace video creation tool with a set of pre-made avatars for use in brief AI-generated videos, the company said Wednesday.
Why it matters: The rise of cheap, convenient AI video generation threatens jobs for video producers, editors, camera operators and even commercial actors.
As grocery bills keep climbing, a few brands are clinging to nostalgia-priced staples — like Costco's $1.50 hot dog combo and AriZona's 99¢ can of iced tea.
Why it matters: These inflation-proof items are more than just cheap eats — they're deliberate brand strategies.
The big picture:Food prices increased by 23.6% from 2020 to 2024, outpacing overall inflation of 21.2% during that period, according to the U.S. Economic Research Service. But some companies are keeping items inflation-proof.
Case in point: Costco's combo meal has been $1.50 since the Issaquah-based company first placed it on the food court menu in 1985.
The Trump administration has no plans to pursue a stake in Nvidia, but does intend to invest in industrial companies, Treasury Secretary Scott Bessent said Wednesday.
Why it matters: The White House has made clear it intends to take positions in companies across the economy, as it did with Intel.
Tunes by Sabrina Carpenter, Alex Warren and Ravyn Lenae were among the top songs this summer for Spotify users.
The big picture: The platform says listeners "swapped carefree anthems for songs that felt personal, vulnerable, and emotionally charged — both lyrically and sonically."
An AI-driven private school that teaches core subjects for just two hours a day is nearly doubling its U.S. footprint, adding eight new campuses from California to North Carolina to Puerto Rico.
Why it matters: With tuition starting at $40,000, Alpha Schools is riding the parental school choice movement while embracing the technology that will shape kids' futures — a challenge public schools are grappling with.
Stock market investing is at record highs, with some new demographic trends: Younger people are investing earlier, and lower-income people are investing more, new research from the JPMorganChase Institute shows.
Why it matters: Those investing patterns come amid a decline in first-time home ownership, suggesting a shift in how young people are planning to build wealth, which could have serious policy and economic implications.
California, New York and Texas are the country's heavy-hitters when it comes to initial public offerings, per recent SEC data.
By the numbers: California had 33 IPOs in 2024, nearly a quarter of the nationwide total.
New York had 26 (about 18% of the total), while Texas had 14 (about 10%).
They're followed by Florida (11 overall), Massachusetts (8) and Utah (5).
How it works: That's based on the location of each company's HQ at the time of its public offering.
Some companies incorporate elsewhere — often Delaware — for tax and legal reasons.
The big picture: There's been a rush of headline-grabbing IPOs this summer, with big day-one "pops" for offerings like crypto exchange operator Bullish and design software firm Figma.
Yes, but: Some of that energy has proven short-lived.
Figma, for example, fell to $70.40 per share as of Aug. 25, down from $122 on Aug. 1 after its July 31 IPO. That's over a 40% dip.
Still, Figma's initial success suggests a new playbook for attention-getting summer offerings, Axios' Dan Primack writes.
What's next: Cloud security provider Netskope filed last week to go public, joining a crowded field of firms planning post-Labor Day offerings.
"Netskope is losing money, but that's been true of most 2025 tech offerings (minus Figma)," per Primack.
As long as interest rate cuts are coming and Nvidia reports solid earnings later Wednesday, investors seem willing to ignore the market risks that could come from President Trump trying to fire Fed governor Lisa Cook.
Why it matters: It's the latest example of equity market investors shrugging off any headwinds that come their way. The more that happens, the more stretched valuations get, and the more at risk this market may be.
President Trump's 50% tariffs on India took effect on Wednesday amid Indian officials urging citizens to buy more products made in the country.
Why it matters: The long-standing U.S. ally now faces some of the highest tariffs that Trump has imposed anywhere in the world, and the highest in Asia, over India's purchases of Russian oil.
Cracker Barrel is dropping its new logo and returning to the "Old Timer" design after criticism from some customers, including MAGA figures who decried the switch as a "woke" gesture.
Why it matters: The Lebanon, Tennessee-based chain's announcement came hours after President Trump weighed in on the corporate culture war clash and called on Cracker Barrel to "go back to the old logo, admit a mistake based on customer response."
