Edgen AI operates independently of, and is not controlled by Aspen Digital Financial Limited.
Pies warns against Fed hike as July odds hit 36%
Edgen Stock·Jul 25 2026, 00:09Share to
Share to
Copy link
[1] Don't think Fed should be hiking here, says 3Fourteen's Warren Pies (https://www.youtube.com/watch?v=X4ehXm5FnLM ...)[2] Why the Federal Reserve should hike rates next week (https://www.cnbc.com/2026/07/24/why-the-feder ...)[3] The Probability of a July Fed Rate Hike Has Tripled Over the Last Week -- Here's Why (https://www.msn.com/en-us/money/markets/the-p ...)[4] 1. Warsh draws a hard line on inflation but says nothing about rates (https://www.fool.com/investing/2026/07/24/kev ...)
Related News
Jul 25 2026, 01:08
Lee Jae Myung hosts AI summit with Nvidia, OpenAI in $500B push
South Korean President Lee Jae Myung hosted an AI summit in San Francisco on Friday with the heads of Nvidia, OpenAI, Anthropic and Broadcom, part of a push to secure as much as $500 billion in AI investment partnerships. "South Korea is committed to becoming an irreplaceable partner in the global AI supply chain," Lee said at the summit, according to a statement from his office. The meetings included Nvidia Chief Executive Officer Jensen Huang, OpenAI CEO Sam Altman, Anthropic CEO Dario Amodei and Broadcom CEO Hock Tan. Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Executive Chair Chung Eui-sun and Naver Board Chairman Lee Hae-jin accompanied the president. The summit focused on three flagship initiatives: advanced semiconductors, physical AI and AI data center infrastructure. South Korea, home to the world's two largest memory chipmakers in Samsung and SK Hynix, is racing to translate its semiconductor manufacturing dominance into AI leadership. The country faces competition from the US, China and Taiwan in attracting AI investment and talent, with the global AI market projected to reach $1.8 trillion by 2030. **San Francisco AI Declaration Sets National Ambition** Lee plans to issue a "San Francisco AI Declaration" outlining South Korea's vision for advancing the AI industry and enhancing global cooperation, according to presidential officials. The declaration is expected to include commitments to AI infrastructure investment, research collaboration and talent development. Multiple memorandums of understanding between South Korean companies and US tech firms are expected to follow the summit. The meetings come as Nvidia, the dominant supplier of AI training chips, faces intensifying competition from custom chip designs by Broadcom and in-house efforts by cloud providers. Nvidia's data center revenue reached $47.5 billion in its most recent fiscal year, while Broadcom's AI-related revenue hit $12.2 billion, underscoring the scale of the infrastructure buildout South Korea is seeking to tap. **$500 Billion Opportunity in AI Infrastructure** South Korea's three mega-projects represent a potential $500 billion investment opportunity over the next decade, according to estimates cited by presidential officials. The country's existing strengths in memory chips, particularly high-bandwidth memory used in AI accelerators, position it as a critical node in the global AI supply chain. Samsung and SK Hynix together control more than 90 percent of the global HBM market, a product that has become essential for training large language models. Nvidia's H100 and B200 GPUs rely on HBM memory supplied by the two South Korean companies, giving Seoul leverage in AI partnership negotiations. For investors, the summit signals deepening alignment between South Korea's government and its largest conglomerates on AI spending. Samsung Electronics trades at 18 times forward earnings, a discount to Nvidia's 35 times, reflecting the market's view that memory chipmakers capture less of the AI value chain than chip designers. If the partnership agreements materialize into joint ventures or co-investment vehicles, that valuation gap could narrow. This article is for informational purposes only and does not constitute investment advice.
Jul 25 2026, 01:08
The Boring Company eyes $20 billion valuation in $4 billion funding round
The Boring Company, Elon Musk's tunneling startup, entered talks to raise about $4 billion from investors at a valuation of $20 billion, according to people familiar with the matter. The funding round would mark a significant step for the six-year-old company, which has focused on building underground transportation networks in cities including Las Vegas, where its Convention Center Loop system began operations in 2021. A $20 billion valuation would represent a substantial premium over its previous private market value, reflecting investor appetite for infrastructure technology that promises faster and cheaper construction methods. The company has completed several tunneling projects and secured contracts for expansion, though it has faced regulatory hurdles and questions about the scalability of its technology. The new capital would provide a war chest for larger-scale projects and international expansion, the people said. The Boring Company's valuation target comes as Musk's broader business empire draws intense investor scrutiny. SpaceX, his rocket company, has been reported to be in merger talks with other Musk-affiliated entities ahead of a potential initial public offering, while his social media platform X has sought to rebuild its advertising business. The Boring Company's funding discussions signal that investors remain willing to back Musk's ventures despite uneven financial performance across his portfolio. Details of the round's investor composition and expected closing timeline have not yet been disclosed. The company did not respond to requests for comment. This article is for informational purposes only and does not constitute investment advice.
Jul 25 2026, 00:42
Chevron seeks US help after Ukraine hits its Black Sea tanker
**A Ukrainian strike on a Chevron-chartered tanker in the Black Sea has dragged the US oil major deeper into the Russia-Ukraine conflict.** Chevron held emergency talks with US officials after a Ukrainian military attack struck a tanker it had chartered in the Black Sea, threatening the company's access to its giant Kazakh oil field that produces about 500,000 barrels a day. "Chevron is trying to insulate its Kazakh operations from the conflict, but the tanker strike shows how difficult that has become," the Wall Street Journal reported, citing people familiar with the matter. The attack occurred as oil markets already face heightened supply risks. Brent crude traded near $85 a barrel this week, supported by Middle East tensions that have pushed the Strait of Hormuz risk premium higher. Barclays said it sees upside risks to its 2026 Brent price forecast given the impasse, while the Strait of Hormuz handles about 21 percent of global oil trade. Chevron's 50 percent stake in the Tengiz field — one of the world's largest oil developments with estimated recoverable reserves exceeding 12 billion barrels — makes it the biggest Western investor in Kazakhstan's energy sector. Any disruption to production or export routes from the region could remove hundreds of thousands of barrels from daily global supply, tightening a market already on edge. The tanker strike is the latest in a series of Ukrainian attacks targeting Russian energy infrastructure in the Black Sea and Caspian regions. Ukraine earlier struck a key Russian oil platform in the Caspian Sea, according to local reports. While Kyiv has focused on disrupting Russian energy revenues, the widening operational scope has increasingly put Western-chartered vessels at risk. Chevron's exposure in Kazakhstan extends beyond the Tengiz field. The company also faces complications from a separate dispute between Kazakhstan and the Kashagan oil field operator, a consortium including Shell, TotalEnergies, ExxonMobil and China's CNPC. Kazakhstan this week froze assets of the North Caspian Operating Co. over a disputed $5 billion environmental fine, adding another layer of operational uncertainty for Western majors in the region. The last time a Western energy asset was directly struck in the Black Sea theater was in early 2024, when a Russian missile hit a commercial vessel near Odesa. That incident caused a temporary 3 percent spike in Brent and prompted several shippers to reroute cargoes, adding days to transit times and raising freight costs. For Chevron, the stakes are particularly high. The Tengiz expansion project — known as TCO Future Growth — has absorbed billions in capital expenditure and is expected to boost output to more than 1 million barrels a day once fully operational. Any sustained disruption to Black Sea export routes could delay those targets and force the company to seek alternative transport options through the Caspian Pipeline Consortium, which already operates near capacity. The incident also raises broader questions about the safety of Western energy assets operating near the conflict zone. Chevron's rivals — including ExxonMobil, Shell and TotalEnergies — all maintain significant production interests in Kazakhstan and the broader Caspian region. A prolonged escalation could trigger a reassessment of risk premiums for energy investments across Central Asia, potentially raising the cost of capital for future development projects. This article is for informational purposes only and does not constitute investment advice.