Axios

U.S. consumer spending gained steam from June to July, helping push the personal saving rate down to 2.9% last month.

Brazil's top judge ordered the suspension of X in the country Friday, after owner Elon Musk refused to appoint a legal representative for the social media platform in the country.

Private equity's sporting ambitions aren't limited to the pro ranks, such as its new deal with the NFL. It's also coming for the kids.

New data on incomes, consumer spending and inflation in mid-summer point to an economy in happy balance. Americans made more money, even after inflation. Their spending shows no signs of buckling. And inflation continues to moderate.

🤖 IBM's lead on global government and regulatory affairs Christopher Padilla announced in June that he was retiring, so we sat down with him to discuss where the company and the country is headed. Why it matters: The world is figuring out how to regulate emerging technologies, and the U.S. is fighting to remain competitive. IBM is one of the loudest voices in shaping regulation as many in the private sector are trying to influence the government's approach. Read the full interview conducted by #Tech Policy Reporter Maria Curi on AxiosPro.com: https://lnkd.in/da56gzED

The world's three largest companies by market cap are all in talks to join the same OpenAI funding round that would value the ChatGPT maker at more than $100 billion, The Wall Street Journal reports. https://trib.al/nmMku69

Like peacocks strutting their stuff in hopes of finding a mate, the tech giants are all eager to show that their chatbot is the one with real momentum. https://trib.al/stV9wRA

Wind turbine service technician is the hottest job in the country, per the Bureau of Labor Statistics, with 60% growth projected between 2023-2033. https://trib.al/OJdZ03Y

As retailers like Walmart and Target cut prices on thousands of products, dollar stores are struggling to maintain their value proposition. Dollar stores are down in the dumps, struggling with strategic and operational breakdowns.

For every hour that I spend listening to earnings calls live, I hear maybe two or three very interesting nuggets that help me understand a company and its leaders a lot better. Last night on Nvidia's call with analysts, CEO Jensen Huang was asked twice about his perspective on current concerns over AI capex ROI, which I thought were the most fascinating parts of the presentation. Bigger picture: 1/ Is this really Nvidia's problem to solve if businesses are spending billions to bulk up their AI capabilities? 2/ Did he give a great POV? You be the judge: - In one part of an answer, he argued that new AI and accelerated computing infrastructure ultimately generate returns because they help businesses save on costs. "Accelerated computing, of course, speeds up applications. It also enables you to do computing at a much larger scale, for example, scientific simulations or database processing. But what that translates directly to is lower cost and lower energy consumed," Huang said. - At another point, he point blank addresses the question: "The people who are investing in Nvidia infrastructure are getting returns on it right away," he added. Between the lines: Who knows? But maybe, probably? Eventually? My full story on the company's Q2 earnings @ Axios #ai #chips #nvidia