
AI chip startup Etched valued at $21 billion in latest funding round
Artificial intelligence hardware startup Etched said on Tuesday it raised $700 million in a funding round that valued it at $21 billion.
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Artificial intelligence hardware startup Etched said on Tuesday it raised $700 million in a funding round that valued it at $21 billion.

A global bond-market rout was starting to put some pressure on stocks on Tuesday, as major U.S. indexes headed for a third-straight session in the red.

A ship came under attack while exiting the Strait of Hormuz resulting in one casualty, according to maritime security agencies. President Donald Trump, meanwhile, claimed Tuesday that Hormuz is "open and operating" despite the attack.

On Tuesday, the New York firm said it was making yet another asset-management acquisition: LCN Capital Partners.

How much is an old AI chip worth? The answer to that question has significant financial and technical implications. Cloud-computing player CoreWeave recently suggested it could be a lot more than many people have been assuming.

The CNBC Business News Update with Jessica Ettinger features market numbers & news with CNBC expert analysis and sound from top business names. Updated throughout the business day.

For a market waiting to find out whether Fed hikes were imminent, last week's inflation data answered in the negative. Neither the CPI nor the PPI built a case for moving in September, and by week's end, the market had pushed expectations for the next Fed rate hike out to early 2027.

Given investors are sitting on unrealised gains and there are few short positions still open, the markets are more vulnerable to a downturn in economic newsflow.

U.S. natural gas futures continued their recent range-bound pattern, falling one day and rising the next, with summer heat-driven demand offset by high production and ample inventories.

Inflation fears and profit taking hit indices. Treasury yields head higher as bond prices drop.

The market has spent the past several weeks doing what it has done for much of the year: climbing. After rebounding from another bout of volatility, the S&P 500 returned to record territory, while the Nasdaq moved close to its own high.

Gabriela Santos, JPMorgan Asset Management Chief Market Strategist for the Americas, talks about where investors can hide from market shocks. The firm has created an AI factor basket that investors can use for ideas on how to diversify their portfolios.

Complacency in equity and energy markets persists despite severe oil supply disruptions from Iran and Ukraine conflicts, with S&P 500 near record highs. AI-driven trading and research reinforce institutional (EIA & IEA) narratives, downplaying inventory drawdowns and suppressing oil price reactions.

The biggest single options trade in the entire market Monday was a $129 million bet against the VanEck Semiconductor ETF.

Geopolitical tensions, especially involving Iran and rising oil prices, are pressuring risk assets and driving volatility expectations higher into September. September historically underperforms, particularly before midterms, but any drawdown should create a buying opportunity ahead of Q4 outperformance.