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Real-time News
August 31st - According to South Koreas *Seoul Economic Daily*, the Bank of Korea warned that inflationary pressures could rise again if the increased corporate and household income from the semiconductor boom translates into consumption. With rising semiconductor export prices boosting purchasing power, the Bank of Korea judges that once consumption truly accelerates, demand could exceed current supply capacity. The central bank believes that similar demand-side price pressures are one of the reasons behind the recent unusual move of raising interest rates consecutively.August 31st - According to the Financial Times, major tech giants reaped over $160 billion in unexpected gains from investments in other AI companies last quarter, boosting their profits but also raising concerns that these paper gains may have exaggerated the true strength of the AI boom. Alphabet, Amazon, Nvidia, and Microsoft all reported significant boosts to their pre-tax profits in their recent earnings reports due to the "other income" item on their financial statements. This income primarily stemmed from valuation gains from equity investments in other leading AI companies. These one-off valuation gains largely reflect market enthusiasm for AI. These gains could distort corporate financial performance as investors scrutinize tech company earnings to assess the health of the AI ecosystem. "A few years ago, investors started questioning the cyclical nature of Big Techs revenue," said Ben Snyder, chief U.S. equity strategist at Goldman Sachs. He added that the profit growth from AI investments now "raises the question: Is the growth these companies are reporting based on underlying demand, or is it somewhat misleading?"August 31 - According to a report from the National Seismological Center of the University of Chile, a 5.1-magnitude earthquake struck the Arica and Paranacota region in northern Chile at 12:04 local time on August 30, with a focal depth of 108.25 kilometers. There are currently no reports of casualties or property damage.According to the Financial Times, major tech companies have gained $160 billion in profits due to their stakes in other artificial intelligence companies.On August 31, local time, Russian Presidential Press Secretary Dmitry Peskov stated on August 30 that a meeting between Russian President Vladimir Putin, US President Donald Trump, and Ukrainian President Volodymyr Zelenskyy would only be possible when an existing agreement needs to be finalized. He emphasized that the agreement on the Ukraine issue is not a "primitive deal," but a complex process involving many details. Peskov also stated that Russia is open to negotiations, but currently lacks the necessary preconditions.
