Breakfast | July 23, 2026

Trump stated that the US does not need the Strait of Hormuz, threatening to bomb a bridge or power plant for every ship Iran attacks. Iran warned it would retaliate against US interests and facilities, declaring, "No one will be able to sell oil." Iranian-backed Houthi forces in Yemen attacked a Saudi oil tanker in the Red Sea.

China's Ministry of Finance: National general public budget revenue in the first half of the year increased by 4.7% year-on-year, with securities transaction stamp duty surging by 97.3%; national general public budget expenditure grew by 1.5% year-on-year.

Google's Q2 cloud business soared 82%, exceeding expectations, with cloud backlog orders reaching $514 billion as AI investments begin to pay off. Full-year capital expenditure guidance was raised by 8%, with the CFO stating that investments would continue to increase.

Tesla's Q2 revenue surged 26%, but profits fell 18%, significantly missing expectations. The company emphasized it is in its largest investment phase, leading to a further decline in after-hours trading. During the conference call, management reaffirmed that full-year capital expenditure would exceed $25 billion, anticipating growth over the next two to three years.

IBM's Q2 revenue grew by only 1%, and the company lowered its full-year revenue guidance, with a sharp decline in mainframe sales dragging down performance.

Cloud spending targets have skyrocketed to $750 billion! OpenAI is investing over $30 billion to build data centers and launching the Presence platform to enter the enterprise software market.

AMD secured a multi-billion dollar chip order from Anthropic and will also invest $5 billion to acquire equity stakes.

Musk continues to double down! SpaceX AI is establishing a large-scale data center in Texas, which may surpass the size of its Memphis facility.

Reminder: The European Central Bank will announce its interest rate decision on Thursday, with rates expected to remain unchanged.