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Top stories today:
- Microsoft quits board observer role at OpenAI, Apple won’t join
- xAI’s Grok 2 likely out next month, building AI data center
- Fed Chair Powell highlights “two-sided risks” on rate cuts
- PC shipments +3% YoY to 64.9M in Q2, with Apple +21% to 5.7M
- Anthropic launches Prompt Generator for developers
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
1. Microsoft quits board observer role at OpenAI, Apple won’t join, amid antitrust probes
OpenAI confirmed the news.
The U.S. and the EU are probing the relationship between OpenAI and Microsoft.
2. xAI’s Grok 2 likely out next month, building AI data center with 100K NVIDIA H100s
The Oracle partnership will be phased out over time, Elon suggested, confirming media reports:
Datacenter to cost $5B over 2 years.
Q2 2025: when it's expected to be ready.
Grok 3 will be trained using it.
3. Fed Chair Powell highlights “two-sided risks” on rate cuts
“If we loosen policy too late or too little, we could hurt economic activity. If we loosen policy too much or too soon, we could undermine the progress on inflation.”
“Likely direction” is a rate cut, not a rate hike.
The rate curve was little changed, with markets expecting a 1st rate cut in September and a 2nd one in December
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