Taco Bell sales have fallen sharply since the national cyclospora outbreak, but the company's executives said they're already noticing signs of a rebound.
Why it matters: Health officials have identified more than 11,000 confirmed or suspected cases of the parasite, which can cause "explosive" diarrhea.
Amazon's AI cloud business soared in the second quarter, driving far higher revenue than expected, though the company's free cash flow also turned negative as it invests heavily in the business.
Amazon shares surged 9.4% in after-hours trading.
Why it matters: The surging AI economy — centered around cloud companies like Amazon, hyperscalers and data center investments — is booming, even as questions are mounting about whether it's sustainable.
Jersey Mike's, the sub chain bought just last year by Blackstone, raised $1 billion in its IPO and today began trading on the New York Stock Exchange.
Why it matters: It's a rare 2026 bright spot for a restaurant industry that's been beset by high food costs and a recent parasite outbreak, even though its opening trades were below the IPO price.
Situational Awareness, an AI-focused hedge fund founded by a former OpenAI researcher, has sold all of its public equities portfolio to Ken Griffin's Citadel, a source tells Axios.
Why it matters: This comes amidst a recent sell-off in AI stocks, particularly chipmakers.
Meta CEO Mark Zuckerberg and Nvidia CEO Jensen Huang both turned to X this month for major AI announcements — evidence that, nearly four years after Elon Musk's takeover, it's still the platform of choice for many leaders.
Why it matters: For communicators, the most important audience isn't always the largest one — it's the one most likely to influence headlines, markets and policy.
Michelle Baker leads the public affairs practice at FTP, formerly Forbes-Tate Partners, overseeing bipartisan federal and state advocacy, digital strategy, research and insight, and design.
Why it matters: As a leader at one of D.C.'s top lobbying firms, Baker advises clients on navigating the capital's unpredictable political environment.
Scale AI has hired Google Cloud COO Francis deSouza as CEO, year after Scale AI founder Alexandr Wang left the AI infrastructure company for Meta.
Why it matters: Scale hired someone who spent years selling AI and cloud services to enterprises, signaling the firm sees itself as an enterprise AI company rather than a data management firm.
The U.S. economy grew at a 1.5% annualized rate in the second quarter, the government said on Thursday, capturing a three-month stretch shaped by the Middle East conflict and a surge in energy prices.
Why it matters: Consumer spending and business investment fueled by AI spending remained the economy's standout growth engines in the spring.
As AI expenses bite, Meta's second-quarter free cash flow fell to its lowest since just before the social media giant launched its layoff-laden "year of efficiency," the company reported Wednesday.
The big picture: The AI boom is transforming major tech giants from asset-light, cash-spewing behemoths into indebted owners of a sprawling fleet of super-expensive data centers. And nobody knows whether those data centers will eventually turn out to be profitable investments.
The Iran war has revealed China's enormous power over global oil prices, thanks to its position as the world's largest buyer.
Why it matters: China's reaction to the oil shock — by substantially withdrawing from buying on world markets — helped prevent the worst of the price spikes that experts thought would follow from the effective closure of the Strait of Hormuz.
Pointing across a 3D mockup in the Oval Office, President Trump unveiled his $22.5 billion overhaul of Dulles Airport on Wednesday, promising to turn what he called a "horribly thought of" gateway into "maybe the best."
Why it matters: The massive plan replaces aging concourses, adding millions of square feet of new capacity to serve more passengers and international destinations.
Pope Leo XIV plans to visit the U.S. "soon," the Chicago-born pontiff said in an interview with NBC News that aired Wednesday evening.
The big picture: The first U.S.-born pope told NBC's Tom Llamas during the interview that he loves "so many things" about America as he revealed he was just looking at his calendar for the next couple of years and confirmed people will see him in the U.S. "soon."
