The Wire
The Fed held rates 9 to 3. Warsh says the AI capex boom is driving up chip prices.
The Fed held the federal funds target range at 3.5% to 3.75% on July 29 in a 9 to 3 vote, with Beth Hammack, Neel Kashkari and Lorie Logan dissenting in favor of a quarter-point increase. Chairman Kevin Warsh listed the AI capex boom as one of four questions the committee debated and said it is driving up prices of memory and logic chips. The June minutes show many participants expect AI infrastructure demand to keep pressuring technology and electricity prices.
SoFi (SOFI) beat and raised guidance. The stock still hit a 52-week low.
SoFi beat on revenue, earnings and EBITDA, raised its full-year revenue outlook, and then fell 7.2% to a 52-week low. Credit actually improved this quarter. The issue is where the growth came from: lending revenue grew 63% while the asset-light Financial Services and Technology Platform segments grew 17% between them.
Nokia (NOK) has halved since June. Five insiders bought $2.2 million of it in the past week.
Three Nokia insiders bought on July 24, including board chair Timo Ihamuotila. Two more bought on July 29, another 7 percent lower. The stock is down about 50 percent from its June peak even as second quarter profit grew.
Korean investors sent funeral wreaths to the National Assembly. Forced selling is up 596% this year (July 29, 2026)
An investor group had about 30 funeral wreaths delivered to Korea's National Assembly on July 29, carrying messages asking whether investor protection is only words. Forced liquidations at Korea's 10 largest brokerages rose 596% from January to June, and the fastest increase of all was among investors 70 and older.
SK Hynix (SKHY) missed consensus by 5.5%. I sat through the call and I'm still holding
I was signed into the SK Hynix earnings call last night, watching SKHY drop and trying to figure out why. The company came in 5.5% under estimates on the best quarter it has ever had, but the margin held at 76% and the shortfall was HBM4 shipments sliding into the second half. Seoul took the stock down 19.6% intraday. I own SKHY at $154 and I'm not selling this one.
Micron (MU) CEO sold $37.3 million in stock, the same 40,000 shares he has sold every 28 days since May
The Form 4 landed July 28 showing $37.3 million sold. It is the same 40,000-share block Micron's chief executive has sold every 28 days since May, on a plan signed back in January.
Seoul halted its stock market two days in a row. The rules written to stop it start Friday (July 29, 2026)
The Kospi closed Wednesday at 5,663.24, down 5.98%, after trading 12.63% lower at its worst point, and both Korean markets halted for a second straight day, which has never happened before. Deputy Prime Minister Koo Yun-chul apologized for the single stock leveraged ETFs blamed for the size of the move, then called the four financial chiefs in at 6 p.m. The cash deposit rule meant to cool those funds does not take effect until Friday.
SK Hynix (SKHY) reported a record quarter and still missed. One analyst broke from the pack and called it within a quarter of a percent
SK Hynix reported 60.5426 trillion won ($41.6 billion USD) of operating profit against a 64.09 trillion won consensus, 5.5% short, on revenue 5.6% short. Both figures are records. The operating margin came in at 76%, right where the street had it, so the entire miss was revenue rather than profitability. Korea Investment & Securities was the only firm below the pack and landed within a quarter of a percent.
Hedge fund Durable Capital now owns 10.6% of Goosehead (GSHD). Its last public filing showed 6.6%.
Durable Capital's last public filing showed 1,562,969 Goosehead shares on March 31. Tuesday's Form 3 showed 2,380,281, and everything bought in between required no disclosure at all.
The FCC moved to ban Chinese robots. Agility Robotics (CCXI) rose 12% in half an hour while the humanoid ETF (KOID) fell.
The FCC moved July 28 to bar new Chinese humanoid and quadruped robots, plus connected power inverters, from the US market. Four small robotics names did all the moving: RoboStrategy (BOT) closed up 17.6% and Churchill Capital XI (CCXI) rose 12.3% in the half hour after the headline. Teradyne then jumped after hours on earnings. The robotics ETFs closed lower.
Kioxia hit limit-down again and is down 60% from its June peak. Sandisk (SNDK) co-owns its factories (July 28, 2026)
Kioxia closed at its limit-down price of 44,550 yen ($272 USD), down 18.33%, after finishing at the bottom of its daily band on July 17 as well. It is 60.5% below the 112,700 yen peak it set on June 22. It shares the Yokkaichi and Kitakami NAND plants with Sandisk (SNDK), which is why the two keep falling together.
Citadel says the Fed hikes Wednesday. All 104 economists Reuters asked say it won't (MU, NVDA, July 28, 2026)
I was sure Citadel's rate call knocked the Nasdaq down 2% Tuesday morning. Nvidia (NVDA) was green while Micron (MU) fell 7.69% and the 2-year yield never moved, so it was not the Fed at all. It was Seoul. Here is the split that actually matters at 2 p.m. Wednesday.
Michael Burry posted three charts making the AI bear case. Two of them show the selling already happened.
Burry shared three Bloomberg charts on the AI trade. One maps the circular deals around Nvidia (NVDA). The other two show big tech forward multiples back at or below their 10-year averages, with Apple (AAPL) the lone expensive name and the only megacap missing from the circular map.
Korea's Kospi fell 10.84% and halted trading. Nvidia (NVDA) is flat and Micron (MU) is down 10% (July 28, 2026)
Korea's Kospi closed at 6,023.66 on Tuesday, down 10.84%, its fourth largest one-day fall on record, after Korea Exchange stopped all trading for 20 minutes. Samsung and SK Hynix each lost more than 13%. The US carryover went into memory and storage, with Sandisk (SNDK) down 14.52% and Micron (MU) down 9.54%, while Nvidia (NVDA) held flat and the Dow rose.
I let Claude AI trade $100 on Robinhood, week 6: It swapped CleanSpark (CLSK) for D-Wave Quantum (QBTS) and quit 23 minutes later
Claude AI's CleanSpark (CLSK) stop fired Monday for a $2.36 loss and was right, since CLSK fell another 10% after. Then it bought D-Wave (QBTS) at Tuesday's open into a chip crash, sold 23 minutes later for $1.80, and filed a report two minutes after that saying it had not traded.
T1 Energy raised its Austin solar fab budget 20% and blamed the Texas data center boom (TE)
The Austin solar cell fab's phase one estimate went from $425 million to $510 million and first production slipped a quarter. T1 named the Texas data center construction market as the reason. A second filing the same morning disclosed a $135 million purchase of the TOPCon patents Trina Solar owned until December.
Anthropic says it never asked to ban open-weight AI. Dario Amodei does want China cut off from Nvidia (NVDA) chips.
Dario Amodei answered the Nvidia-hosted open-weights letter on July 27, three days after Anthropic became the only major AI lab to skip it. He says a ban was never the ask. What he does want is China cut off from US chips, a crackdown on industrial-scale distillation, and mandatory safety testing for every capable model, open or closed.
Micron (MU) accounting chief sold 879 shares for $879,000, at exactly $1,000 each, two days before the 10% drop
Scott Allen sold 879 Micron shares for $879,000 at exactly $1,000 each on July 23, the only unscheduled large insider sale our tracker caught last week. His other 34,958 shares stayed put.
We gave six AIs $10,000 each to pick small-cap AI stocks. Five bought the same one.
Six AI chatbots each got $10,000 for small-cap AI stocks. Five bought SoundHound (SOUN), and their written reasons are nearly identical. DeepSeek leads week one.
Rep. Jared Moskowitz bought SpaceX on its first day of trading. The disclosure landed 44 days later, with the stock down 29%.
Rep. Jared Moskowitz disclosed a $1,001 to $15,000 purchase of SpaceX (SPCX) dated June 12, 2026, the stock's first day of trading. It has fallen about 29 percent since, and the one stock he sold that week is the best performer in the filing.
Nvidia (NVDA) will own more of Korean internet company Naver than its founder does
Naver, the Korean company that runs the country's main search engine and its biggest shopping platform, told the Korea Exchange on Monday it will sell 1.4809 trillion won of new shares to Nvidia, near $1.01 billion. That makes Nvidia the third largest shareholder at about 4.5%, ahead of founder Lee Hae-jin at 3.8%.
About $25 billion of Microsoft's (MSFT) AI budget is memory getting more expensive. Wednesday says whether that grew.
Microsoft told investors in April it would spend about $190 billion on capital projects this year. Around $25 billion of that increase bought nothing new, it was the same buildout at a higher price after memory costs rose. Microsoft reports Wednesday after the close, two hours after the Fed decision.
Michael Burry's picks: the Micron (MU) bet is up 17%. He has been averaging down on Lululemon (LULU) since 2025.
Burry deregistered Scion, so the 13F trail stopped and his trades now surface first on a newsletter with 300,000 subscribers. Here is everything he has disclosed since June, priced as of July 27. The point of laying them out together is that he is not always right.
Amazon (AMZN) wants 5,105 satellites talking to your phone, on Globalstar (GSAT) spectrum it doesn't own yet
The application covers 5,105 satellites connecting straight to phones, starting in 2028, running on airwaves that still belong to Globalstar. Amazon agreed in April to buy the company for about $11.6 billion, and that deal is not expected to close until 2027. Globalstar trades $11 under the headline price, and the reason is in the exchange ratio rather than in doubts about the deal.