Daily Strategic Briefing

Tencent doesn’t care if it can buy American GPUs again – it already has all the chips it needs

Sees AI costs rising but not certain revenue will match them Chinese web giant Tencent doesn’t mind if Washington doesn’t let it buy more American GPUs, because it already has all the chips it needs.…

Breathe easy: Apple Watch can read your oxygen levels again

iBiz shifts data to iPhone in patent workaround Apple will deliver a software update for recent US Apple Watch models to reimplement the ability to measure blood oxygen levels, a process known as pulse oximetry.…

Ransomware crews don't care about your endpoint security – they've already killed it

Some custom malware, some legit software tools At least a dozen ransomware gangs have incorporated kernel-level EDR killers into their malware arsenal, allowing them to bypass almost every major endpoint security tool on the market, escalate privileges, and ultimately steal and encrypt data before extorting victims into paying a ransom.…

Dodgy Huawei chips nearly sunk DeepSeek's next-gen R2 model

Chinese AI model dev still plans to use homegrown silicon for inferencing Unhelpful Huawei AI chips are reportedly why Chinese model dev DeepSeek's next-gen LLMs are taking so long.…

DARPA’s Cylon raider autonomous fighter jet advances to next phase

Pilots may soon have to compete against frakking toasters for the title of Top Gun That autonomous fighter jet from DARPA is so 2023 that the agency is already well into a bid to give future combat jets autonomy for multi-ship missions over the horizon.…

US government is reportedly in discussions to take stake in Intel

Summary:

This deal would be meant to help Intel bulk up its U.S. chip manufacturing, including its much-delayed Ohio factory.

Cohere hits a $6.8B valuation as investors AMD, Nvidia, and Salesforce double down

Summary:

Cohere’s market proposition has always been to offer secure LLMs specifically geared for enterprise use, not for consumers.

ChatGPT: Everything you need to know about the AI-powered chatbot

Summary:

A timeline of ChatGPT product updates and releases, starting with the latest, which we’ve been updating throughout the year.

Lovable projects $1B in ARR within next 12 months

Summary:

Lovable is a vibe coding startup growing phenomenally quickly, according to new sales projections from CEO Anton Osika. 

Leaked Meta AI rules show chatbots were allowed to have romantic chats with kids

Summary:

The standards also allow the bots to make “statements that demean people on the basis of their protected characteristics,” such as “black people are dumber than white people.” 

Livspace makes a $5.5M bet on furniture hardware startup TplusA

Livspace founder Ramakant Sharma and Kedaara Capital’s Nishant Sharma also joined the funding round in a personal capacity.

Aditya Birla Group's TMRW secures Rs 437 Cr from ServiceNow Ventures

TMRW's revenue grew 38% in the first quarter of FY26, even as its losses widened by 37% to Rs 63 crore.

Avendus Fund leads Rs 300 Cr investment in Aragen Life Sciences

Avendus’ Rs 300 crore bet on Aragen comes amid a surge in India’s CRDMO sector, as global pharma outsourcing accelerates and trade policy shifts raise questions over export exposure.

Arintra raises $21M in series A round led by Peak XV Partners

The company said the funding will be used to fuel product development, expand adoption across US health systems and physician groups, and scale its team. It also plans to open a new Bay Area headquarters to support its growth plans.

Seeds Fincap raises Rs 50 Cr in pre-Series B funding led by Z47, Lok Capital

The funds will be used to expand into new regions, strengthen technology and risk infrastructure, and accelerate growth ahead of its planned Series B raise, the company said.

IPO Sizes Shrink in 2025 as Investors Push Back on Valuations

Companies like JSW Cement, Ather Energy, and MobiKwik have reduced IPO sizes in 2025 due to investor pushback on valuations. 48 firms raised ₹64,135 cr via IPOs in 2025, down from ₹1,59,535 cr raised by 90 IPOs in 2024 amid high supply. Source: The Economic Times

Proxy Advisors Oppose SMBC Nominees on Yes Bank Panels

Proxy advisors urge shareholders to reject Yes Bank's privilege to SMBC. IiAS and SES oppose SMBC's nominee directors on Yes Bank's key committees. Source: Live Mint

Supreme Industries Boasts ₹8.68B Net Cash Despite EBIT Challenges

Supreme Industries has ₹8.68b net cash and a strong balance sheet. The firm holds ₹752.4m more liquid assets than total liabilities, despite EBIT challenges. Source: Simply Wall Street

Hindalco Revenue Beats by 7%, EPS Misses; 2026 Growth Trails Industry

Hindalco beat revenue estimates by 7.3%, reaching ₹642b, but EPS missed by 7.7%. Analysts project 2026 revenue of ₹2.48t, with 1% annual growth, lagging industry peers at 10%. Source: Simply Wall Street

Equitas Bank Down 33% in 1 Year, ₹4.5B Wiped Out

Equitas Small Finance Bank's stock dropped ₹4.5b, adding to a one-year 33% loss. Institutions own 59% of Equitas, with top 13 shareholders controlling 51% of the company. Source: Simply Wall Street

China’s 10-Year Yield Extends Decline

Country: China, Description: China’s 10-year government bond yield fell to around 1.72% on Friday, extending its decline from the prior session as investors moved toward safer assets amid weak economic indicators. Industrial output growth slowed to a seven-month low in July, down from a recent three-month peak and falling short of market expectations. Adding to investor concerns, retail sales growth weakened to a six-month low, while the unemployment rate inched up to its highest level in four months. In the housing sector, new home prices across 70 major cities continued to decline for the 25th consecutive month, although the pace of contraction in July was the mildest since March 2024. These lackluster data underscore the growing challenges for Chinese policymakers as domestic demand and external pressures persist. Authorities have recently ramped up policy support and issued renewed commitments to boost consumption and rein in excessive price competition to stay on track for the 2025 growth target of around 5%.

Indonesia Stocks Hit Fresh High Ahead of Government Budget

Country: Indonesia, Description: The IDX Composite climbed 30 points, or 0.4%, to 7,961 in morning trade on Friday, hitting a fresh record high ahead of the announcement of the government budget for FY 2026. Indonesian President Prabowo Subianto is set to deliver a speech on the budget in Parliament later today. Traders are awaiting the GDP growth forecast, especially in light of the US's new 19% tariffs on Indonesian goods. The Parliament and the government have previously agreed on the basic macro assumptions for the 2026 Draft State Budget, including economic growth of 5.2–5.8%. Meanwhile, expectations of a Fed interest rate cut at the September meeting continued to support market sentiment. However, a slew of disappointing economic data from China—Indonesia's top trading partner—capped gains. All sectors traded in the green, led by tech, followed by healthcare, energy, and property. Among the top gainers were Indah Kiat (up 3.5%), AKR Corporindo (2.8%), and Medco Energi Internasional (1.2%).

Offshore Yuan Edges Lower

Country: China, Description: The offshore yuan edged lower to around 7.18 per dollar on Friday, as investors weighed a batch of disappointing economic data. Industrial output slowed to a seven-month low in July 2025, from a recent three-month high and falling short of market forecasts. Adding to the unease, retail sales growth eased to a six-month low in July, while the unemployment rate edged up to a four-month high. Meanwhile, China’s new home prices in 70 cities contracted at a softer pace in July. Although this marked the 25th consecutive month of decline, it was the slowest rate of decline since March 2024.These underwhelming figures highlight the growing challenges for Chinese policymakers as they work to stabilize the economy amid soft demand and external pressures. Beijing has recently intensified policy efforts and pledged to spur consumption and curb excessive price competition to meet its 2025 growth target of around 5%. Over the week, the yuan is on track for its second consecutive week of stability.

Hong Kong Stocks Fall Sharply Yet Head for Weekly Gain

Country: Hong Kong, Description: Hong Kong stocks dipped 332 points or 1.3% to 25,192 in early Friday trade, extending losses for the second session as most sectors declined, led by financials, tech, and consumer shares. Sentiment weakened after China’s July data showed industrial output and retail sales growth missed forecasts, underscoring slowing economic momentum amid ongoing external risks, weather disruptions, and soft domestic demand. The surveyed jobless rate also rose to a four-month high of 5.2%. Still, the Hang Seng is on track for the second straight weekly gain, up above 1% so far, supported by this week’s US–China 90-day trade truce extension. On Wall Street, major indexes continued to hit fresh records on growing expectations of a Fed rate cut in September. Meanwhile, Beijing plans to subsidize consumer loan interest to boost household spending and launch a nationwide equipment upgrade initiative. Early laggards included Meituan (-3.5%), AIA Group (-3.3%), Sunny Optical (-3.1%), and Geely Auto (-2.7%).

Aussie Dollar Set for Weekly Decline

Country: Australia, Description: The Australian dollar held its decline around $0.649 on Friday, as the greenback strengthened overnight following a stronger-than-expected US producer inflation report that dampened hopes for aggressive rate cuts. US producer prices rose at its fastest pace in three years in July, contrasting with a more reassuring consumer inflation report earlier in the week, and pointing to broadening inflationary pressures that could complicate the Federal Reserve's policy decisions. As a result, the probability of a 25-basis-point rate cut by the Federal Reserve dipped slightly, according to CME’s FedWatch tool. Meanwhile, in Australia, investor sentiment remained cautious ahead of key data releases next week, including consumer inflation expectations, consumer confidence, and several PMI surveys, especially after recent employment figures indicated continued strength in the labor market. Overall, the currency is on track to post a weekly loss.

Modi promises GST tax cuts by Diwali in 'double' gift

Summary: The Prime Minister announced next-generation GST reforms targeting the 12% tax slab, with household items moving to lower rates., Description: Prime Minister Narendra Modi announced during his Independence Day address that next-generation GST reforms will be implemented by Diwali, promising what he called a "double Diwali" gift for citizens through substantial tax cuts on everyday items and simplified compliance procedures. Speaking from the Red Fort on India's 79th Independence Day, Modi declared, "This Diwali, I am going to make it...

Modi launches ₹1 lakh crore job scheme on Independence Day

Summary: The Pradhan Mantri Viksit Bharat Rozgar Yojana aims to create 3.5 crore jobs over two years with incentives for workers and employers., Description: Prime Minister Narendra Modi launched the Pradhan Mantri Viksit Bharat Rozgar Yojana on Independence Day, delivering on his promise to create 3.5 crore jobs over the next two years. Speaking from the Red Fort on August 15, Modi announced the ₹1 lakh crore employment scheme that provides ₹15,000 to first-time private sector employees. "There is good news for the youth of the country," Modi...

South Korean president calls Japan 'indispensable partner'

Summary: Lee Jae-myung will become the first South Korean leader since the 1950s to visit Japan before the US in historic summit., Description: South Korean President Lee Jae-myung described Japan as an "indispensable partner" and called for deeper bilateral cooperation ahead of his upcoming summit with Japanese Prime Minister Shigeru Ishiba, marking a significant shift toward reconciliation on the 80th anniversary of Korea's liberation from Japanese colonial rule. In his Liberation Day address on August 15, Lee positioned Japan as...

Scientists race to find Martian life before humans arrive

Summary: New device could detect DNA-like molecules in Mars water samples before human missions potentially contaminate the planet's biosphere., Description: Astrobiologists propose a promising method to detect potential Martian life through a simple device designed to find DNA-like molecules before human colonization contaminates the planet's biosphere. The Agnostic Life Finder, developed by researchers Christopher Temby and Jan Spacek, uses electrodialysis to concentrate polyelectrolytes—charged molecules like DNA and RNA that carry genetic...

Tropical Storm Erin nears hurricane strength in Atlantic

Summary: The storm is forecast to rapidly intensify into a major hurricane this weekend as it approaches the Caribbean islands., Description: Tropical Storm Erin continued its westward journey across the Atlantic Ocean on Thursday, strengthening to near-hurricane levels with maximum sustained winds of 70 mph as it moves toward the Caribbean. The National Hurricane Center issued its latest advisory at 8 p.m. AST Thursday, reporting that NOAA aircraft data indicates Erin is "near hurricane strength" and expected to become the first...