Happy Monday! In a surprising twist, Nvidia and AMD have reportedly agreed to an unprecedented agreement with the U.S. government. Read on for all the insights.

Also, this state just teamed up with some of the biggest tech giants to bring free AI training to millions of students. What’s fueling this ambitious effort, and how might it impact the markets? Read on for the full story.

In Today's Edition

• MARKET RECAP

• MARKET HEATMAP

• FIVE ZINGERS

• MARKET HISTORY

• ONE FOR THE ROAD

Nvidia, AMD Enter Unprecedented Agreement With U.S. Government Over China Chip Sales

In a surprising twist in the ongoing tech war between the U.S. and China, Nvidia and AMD have reportedly agreed to an unprecedented deal with the U.S. government.

The deal, essentially a royalty on all sales, would grant the chipmakers export licenses to sell their advanced AI chips, the H20 and MI308, to China — the world’s second-largest economy.

The move is raising eyebrows and questions across Wall Street. At first glance, it looks like a win-win situation, as the chip makers get market access, while the U.S. profits from sales. But critics warn it sets a risky precedent, blurring the line between policy and profit, and potentially giving Beijing both advanced tech and a strategic edge.

Read on for the full breakdown and stay ahead of the curve to see how this deal could reshape the global chip market.

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Don’t miss your seat at the table — register now.

Last Week: U.S. indexes finished the week on a high note as investors shook off last week’s sell-off. The Nasdaq led the major indexes, rising 3.9% for the week and nearing record highs thanks to Apple’s best weekly performance (+13%) since July 2020. The S&P 500 was up 2.4% on the week and just finished below its all-time high, while the Dow added 1.4%. Treasury yields climbed, with the 10-year yield up to 4.28%, while oil held steady as markets await the meeting between Vladimir Putin and Donald Trump. Market expectations for a Fed rate cut in September solidified, with futures pricing in a greater than 90% chance of a 25-basis-point move. President Trump signaled plans to nominate Stephen Miran to fill a vacancy on the Fed board after Adriana Kugler unexpectedly resigned.

On Our Radar: Analysts will be watching the Consumer Price Index and Core CPI, which will be released Tuesday morning before the market opens. On the earnings front, all eyes will be on Sea Limited (SE) and Circle Internet Group (CRCL), which is up more than 130% from its IPO just two months ago. Both will report before the market opens on Tuesday.

The Trade Desk (TTD) and Under Armour (UA) both had one of their worst trading days in company history after disappointing earnings results caused shares to plunge 38% and 17%, respectively. But those weren’t the only big movers of the day. Read on for the full breakdown.

Discover how the market is moving with our interactive heatmap. Filter by market cap, or click on any box to explore specific sectors or assets in more detail.

Wednesday: Trade The Gap Setup Powering 2025’s Breakouts

Big post-earnings winners like QS (165%) and SEZL (149%) weren’t flukes; they followed a repeatable pattern. This Wednesday at 6:00 p.m. ET, veteran traders JT and John go live to show how they’ve used this strategy to identify 1,000+ winners. If you want a precise plan for earnings season, start here.

On This Day In 2008…

Airbnb, which was originally called "Airbed & Breakfast," was launched in San Francisco by Brian Chesky, Joe Gebbia and Nathan Blecharczyk. What started as an idea in 2007 to rent out air mattresses in their apartment during a conference quickly grew into a global platform that transformed the travel industry. By connecting people looking for short-term lodging with hosts offering everything from spare rooms to entire homes, Airbnb made travel more personal, flexible and affordable, and challenged the traditional hotel model along the way. Today, Airbnb has a market cap of $75 billion.

QUOTE OF THE DAY

“You have to keep learning if you want to become a great investor. When the world changes, you must change.”

— Charlie Munger

California Wants Your Kids AI-Ready — Google, Adobe, IBM, Microsoft Are In

In a move that could redefine both public education and the future of the workforce, California has teamed up with tech giants Google, Adobe, IBM and Microsoft to roll out free AI training across its high schools, community colleges and universities. Officials say it's about preparing students for an AI-driven economy, but the scale and speed of the initiative suggest there’s more at play than meets the eye.

This isn’t a pilot program. It’s a full-fledged integration of Big Tech into the classroom, with students gaining early access to the same generative AI tools currently shaping the corporate world.

With AI poised to disrupt nearly every sector, this could signal where future growth — and future profits — are headed. Is this a glimpse into how Silicon Valley plans to secure its next generation of talent, or a play to influence AI adoption at the national level?

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