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Real-time News
August 20th - According to The Information, citing a source familiar with the matter, Nvidia (NVDA.O) has begun discussions with data annotation service provider Mercor regarding an investment. Mercor helps the chip designer develop open-source AI models. This investment would be part of a $20 billion funding round for Mercor. Existing investor General Catalyst has been in talks to lead this round. Mercor has historically derived most of its revenue from closed-source AI model developers such as OpenAI, Google, and Anthropic. However, Mercors revenue from Nvidia is growing as Nvidia prioritizes the development of its Nemotron open-source model, which aims to compete with the worlds most advanced open-source models. The source revealed that Nvidia paid Mercor tens of millions of dollars last quarter. In addition to Mercor, Nvidia uses data from other providers such as Turing and Scale, and also has its own internal data team.The Federal Reserve will release the minutes of its monetary policy meeting in ten minutes.Market news: The United States plans to halve tariffs on Canadian steel and aluminum in a trade agreement.S&P upgraded Micron Technology (MU.O) to "BBB+" due to improved confidence in the companys near-term demand outlook. The outlook is "positive".On August 20th, US President Trump told reporters at the White House on the 19th that negotiations with Iran might resume "at some point," but Iran must completely abandon its nuclear weapons. When asked if the US would return to negotiations, Trump said, "Maybe at some point. But right now, I think the situation is very good." He then added, "The logic is simple, they have to completely give it up," and "Iran must never have nuclear weapons." Trump reiterated that the US "owns" and "completely controls" the Strait of Hormuz, and stated that Irans "occasionally launching drones does cause trouble."
