Short News

Nvidia has agreed to acquire Hugging Face, the leading open-source AI platform hosting millions of models and datasets, for approximately $13 billion, with the shareholder deal valued at $11.9 billion plus up to $1 billion in employee retention awards. The full Hugging Face team will stay on, and the platform will remain open and neutral across all hardware and cloud providers. Nvidia CEO Jensen Huang said open models strengthen safety and cybersecurity while accelerating innovation, letting developers, startups and countries build and customize AI. Hugging Face co-founder Clement Delangue called it an inflection point for open-source AI, ten years after founding the company. The deal still awaits regulatory approval.

SpaceX shares (NASDAQ: SPCX) have held above their IPO price for four straight weeks through September 2, and that stability has made at least one Wall Street analyst more bullish on the stock’s prospects. Oppenheimer’s Timothy Horan reiterated a “Buy” rating on SpaceX on Wednesday and raised his 12-month price target to $280 from $250, a 12% increase. The higher target implies Horan sees room for the stock to climb to a fresh all-time high over the coming year.

Uber Technologies will lay off about 3,300 employees, roughly 10% of its workforce, in a restructuring aimed at trimming management layers and cutting costs. The company will reduce staff seven or more reporting layers below CEO Dara Khosrowshahi by 20% and nearly halve its “micro-teams.” The cuts, Uber’s largest since 2020, follow a tough year for the stock, down nearly 8% amid concerns over competition from autonomous ride-hailing rivals like Waymo. Uber will also concentrate teams in New York and San Francisco and cap fully remote roles at about 1% of staff. The layoffs come as Uber has committed over $10 billion to robotaxi partnerships in the years ahead.

Government borrowing costs are at or near multi-decade highs worldwide. Japan’s 10-year bond yield hit 3% on Tuesday, its first time since 1996. UK 30-year yields sit at 30-year highs, while German and French yields match levels last seen in 2011 and 2008. Rising oil prices from US-Iran tensions are pushing yields higher, adding to inflation worries and rate-hike bets after a hawkish Jackson Hole speech from Fed Chair Kevin Warsh. US debt has crossed $40 trillion, with G7 debt-to-GDP now above 100% everywhere except Germany.

SB Energy, an AI power infrastructure company backed by SoftBank, OpenAI, and Nvidia, has filed for an IPO with the SEC despite having zero operational data centers and no revenue to date. The company posted a $3.2 billion net loss in the first half of 2026 from heavy data center investment, and remains heavily dependent on OpenAI as both a key tenant and investor. SB Energy is targeting $5-7 billion in proceeds, with shares set to list on Nasdaq under ticker SBE.

Shein’s shares closed nearly flat at HK$48.50 in Hong Kong on Monday, barely below their HK$48.56 IPO price, after an early slide of up to 10% during trading. The debut caps years of failed attempts to list in New York and London, finally landing the fast-fashion giant a $26.3 billion valuation, a steep drop from its $100 billion peak in 2022. Tariff changes in the US and Europe have squeezed the business behind Shein’s famous $5 tops and $10 dresses. Founder Sky Xu made a surprise appearance at the ceremony but stayed silent, while CFO Leigh Gui pledged continued innovation with supply chain partners.

The London Stock Exchange and Kraken parent Payward will tokenize the 100 largest UK-listed companies through the xStocks framework. The tokens will be backed 1:1 by the underlying shares and allow eligible investors in more than 110 countries to trade around the clock. The move could expand global access to UK equities through blockchain technology. The first xStocks are expected within weeks, while LSE plans to list them on its LSE 24 venue in 2027, subject to regulatory approval.

S&P Global Ratings raised SK Hynix’s credit rating from BBB+ to A-, citing strong AI-driven business performance, with a positive outlook for further gains. The upgrade follows the company’s capital return plan, which has already pushed SK Hynix stock up 11.3% over the past three weeks.

Second-quarter results support the optimism. Revenue hit 79.32 trillion won, up 257% year-over-year, with a 76% operating margin, driven by strong demand for HBM chips and enterprise SSDs.

Analysts are turning bullish too. Wolfe Research and RBC Capital Markets began coverage Monday with price targets of $200-$240 per ADR, citing HBM4 pricing tailwinds. Stifel started with a Buy rating and $240 target, while William Blair projects free cash flow could more than double by 2028.

MediaTek shares hit their daily trading limit in Taipei on Tuesday, jumping 10% after Nvidia agreed to buy $3.5 billion worth of convertible bonds in the Taiwanese chipmaker, Nvidia’s largest direct investment outside the US. Experts called the deal a strategic endorsement, marking MediaTek’s shift from smartphone chips toward broader AI semiconductor work. The company has already partnered with Google this year, and analysts are speculating SpaceX could be next in line as a customer, fueling a sharp climb in MediaTek’s market value.