Gold settled 1.4% lower, down two of the past three sessions, and silver fell 2.5%, down three of the past four sessions.
Amazon's Prime Day sale features significant discounts on Apple products, including AirPods Pro 3, Apple Watch Series 11, iPads, and MacBooks. Deals offer new low prices on various models, with some exclusive to Prime members.
Indian customer engagement firm MoEngage has acquired San Francisco-based Aampe in an all-cash deal worth tens of millions. Aampe's AI agents personalize marketing by making individual customer decisions, a move MoEngage believes is the future of marketing.
Walmart-backed Flipkart's quick commerce service, Minutes, has established 1,000 micro-fulfillment centers in India, less than two years after launch. The company plans to expand to 1,500 centers by 2026, competing fiercely with rivals like Amazon, Blinkit, Zepto, and Swiggy Instamart in India's rapidly growing quick-commerce market.
Oracle has laid off approximately 21,000 employees, a 12.9% reduction, citing the adoption of AI technologies and significant capital expenditure for data center infrastructure to support AI workloads. The company plans to raise $45-50 billion in 2026 for cloud infrastructure expansion, despite already holding over $120 billion in debt.
Menlo Ventures announced a record $3 billion in funds, its largest raise in 50 years, significantly boosted by its AI portfolio, particularly Anthropic. The firm's investment in Anthropic is now valued at approximately $14 billion.
Tech stocks, including Nvidia, Google, and Micron, saw significant drops as investors question the return on investment for massive AI spending. Micron's shares plummeted over 13%, reflecting broader market jitters and concerns about a potential AI bubble.
