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AI & Enterprise

S&P 500 profit growth of 48% is an illusion; 29% without Anthropic and OpenAI

Rising valuations of stakes in unlisted AI firms are making Big Tech quarterly results look stronger than they are, as Microsoft, Amazon and Alphabet book large investment gains tied to Anthropic, OpenAI and in some cases SpaceX. LSEG said S&P 500 profit growth of about 48% year-on-year would be far milder without such gains, falling to about 29% excluding Alphabet and Amazon’s mark-to-market profits. Analysts say these items inflate headline figures and are often excluded from non-GAAP metrics and forecasts.

Crypto

Upbit\'s won-tether trading volume jumps 600 percent as KOSPI plunges

Cryptocurrency trading in South Korea has surged again in tandem with a sharp fall in the local stock market. Upbit’s won-tether trading volume climbed to nearly 140 million USDT, close to 200 billion won, on July 29, up 600 percent from 20 million USDT on July 25, Cointelegraph reported. The KOSPI fell about 18 percent this week amid semiconductor selling, with brokers citing possible shifts into crypto and overseas derivative trading demand.

AI & Enterprise

Apple tops $5 trillion in intraday market value for first time

Apple crossed $5 trillion in intraday market value for the first time, regaining its position as the world’s most valuable listed company after overtaking Nvidia. Apple shares rose 0.72 percent to $339.33, lifting its market value to $4.98 trillion, after hitting $342.89 and $5.04 trillion intraday. The stock is up 25 percent this year. Investors are reassessing Apple’s AI spending approach ahead of earnings due on July 30.