A softer-than-expected July inflation report has eased pressure on the Federal Reserve ahead of its September rate decision. Consumer prices rose 3.4 percent from a year earlier, while core inflation held at 2.5 percent. Traders now price about a 38 percent chance of a rate hike next month, down from earlier expectations. Inflation has run above the Fed's 2 percent target for more than five years, and the central bank has kept rates steady through 2026. A cooling labor market gives officials room to hold, but rising oil prices and a weak dollar keep a hike on the table.
Bank of America announced a $250 billion initiative to finance US infrastructure projects spanning data centers, energy, semiconductors and transportation. The bank said the money will be deployed through loans, bonds and other financing tools over several years. The program responds to surging demand for capital as data centers expand for artificial intelligence, power plants are built, and semiconductor factories come online. Executives called it one of the largest private infrastructure commitments in recent years. Economists say private financing can speed up projects waiting for funding, though it will not replace public spending. The announcement follows similar moves by other major banks and positions Bank of America as a major lender to the AI build-out and the energy transition.
Bank of America has launched a $250 billion initiative to finance U.S. infrastructure projects, covering data centers, energy, semiconductors and transportation. Executives called it one of the largest private commitments to American infrastructure in years. The bank will use loans, bonds and other financing tools to help close a multi-trillion-dollar investment gap. A large share of the money is expected to support technology infrastructure, including new semiconductor plants and data centers built for artificial intelligence. The announcement comes as inflation cools but remains above the Federal Reserve's target, with the central bank weighing further rate moves. Higher borrowing costs make large projects more expensive, yet demand for upgraded power grids, ports and roads shows no sign of slowing.
Liverpool's owners have agreed to sell about a third of the club to a consortium that includes Amazon founder Jeff Bezos, in a deal that values the Premier League club at more than 5 billion pounds, the BBC reported Monday. Fenway Sports Group, which has controlled Liverpool since 2010, will keep majority ownership. The consortium gains a minority stake plus a role in the club's commercial operations. The deal is one of the largest investments in European football and reflects a wave of American capital moving into Premier League clubs. The Premier League is expected to review the transaction under its owners' and directors' test. Liverpool declined to comment on reports linking the investment to stadium expansion plans.
Nvidia announced partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to mobilize more than $500 billion for AI infrastructure. The financing platforms will treat AI computing power as an investable asset class, funding data centers that house and cool AI chips plus new factories to manufacture them. CEO Jensen Huang said the effort brings long-term capital providers together to underwrite AI infrastructure. The deal could help Nvidia's biggest customers finance GPU purchases, data center construction and long-term electricity capacity. Analysts note concerns about circular financing, but Nvidia says the platforms bring independent capital into the market. The announcement is one of the largest private financing efforts tied to AI hardware to date.
Bank of America has announced a $250 billion initiative to finance US infrastructure projects. The bank said the money will flow to data centers, energy systems, semiconductors and transportation. The plan comes as companies race to build new power-hungry data centers for artificial intelligence and as Washington pushes for more domestic manufacturing. Bank of America will lend, invest and arrange financing over the coming years. Executives said the effort targets projects that create jobs and strengthen supply chains. The announcement is one of the largest corporate commitments of its kind.
US consumer prices rose 3.4% in July from a year earlier, a slight cooling from the previous month and a touch below economists' forecasts. Wholesale inflation also eased as the energy price shock tied to the Iran war faded. The data offers some relief to the Federal Reserve, which had been weighing whether to raise interest rates again. While prices remain above the Fed's 2% target, the July report suggests inflation is no longer accelerating. Markets reacted by trimming bets on a near-term rate increase. Economists say the report gives policymakers room to hold rates steady and wait for more data, though a renewed jump in oil prices could change the picture quickly. Housing costs and services prices stayed elevated, keeping the Fed cautious.
Foxconn, the world's largest contract electronics maker, reported a 35% rise in second-quarter profit, beating analyst forecasts. The company said strong demand for AI servers and data center equipment drove the gains and predicted that AI would keep fueling growth for the rest of the year. Foxconn, best known for assembling Apple's iPhone, has expanded aggressively into AI infrastructure, building servers and advanced chip packaging capacity. Executives said AI products now make up a growing share of revenue and will keep climbing as cloud providers spend more. The results are the latest sign that spending on AI hardware is reshaping the electronics industry, with consumer devices flat while AI orders boom. Shares rose after the announcement as investors welcomed the outlook.
President Trump signed a proclamation imposing a 15 percent tariff on imported polysilicon and products made with the material, along with minimum import prices for polysilicon, ingots, wafers, solar cells and solar modules. The measure follows a Section 232 investigation that found polysilicon imports threaten U.S. national security. Minimum prices include $21 per kilogram for polysilicon and $100 per kilogram for ingots and wafers. The tariffs take effect December 4, 2026. China produces most of the world's polysilicon, a key input for semiconductors and solar panels. The administration says the move will support domestic production, while importers warn it will raise costs for chipmakers and solar installers.
The Trump administration will impose a minimum import price and new tariffs on polysilicon, a refined material used to make semiconductors and solar panels. The rules add duties on products made with the material and aim to protect U.S. producers from low-priced Chinese supply. Polysilicon prices have fallen for years as Chinese factories flooded the market, and U.S. officials say the cheap imports threaten domestic supply chains. Industry groups warn that higher input costs will push up prices for chips and solar panels at a time when AI data centers are consuming record numbers of processors and power demand is growing. Manufacturers are seeking exemptions, and analysts say the final cost depends on how quickly U.S. plants can expand output.