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Semafor World Economy

Jake Angelo

Jake Angelo

US Newsroom Fellow

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Nvidia to buy Hugging Face for nearly $13 billion

Hugging Face has exploded in popularity, providing an open-source hub for collaborative machine learning.
Nvidia logo and Hugging Face logo.
Courtesy of Nvidia

Nvidia posts blowout quarter amid sustained chip demand

The chipmaking giant, widely considered a bellwether for the AI market, crushed analysts’ expectations with $96.2 billion in quarterly revenue.
A Nvidia company logo
Ann Wang/Reuters

Walmart posts weakest sales growth in six years

The retail giant’s worse-than-expected same-store sales growth is the latest sign that consumers are feeling strapped.
Shoppers enter a Walmart store
Siyanda Mthethwa/Reuters

AI startup produces fully AI-generated feature-length film

Higgsfield AI produced ‘The Cully Hill Boys’ with a $2 million budget, half of which went to AI tokens.
A poster for The Cully Hill Boys.
Courtesy of Higgsfield AI

Gen AI outputs are unattributable, study finds

Researchers discovered a phenomenon they call “attribution decay,” where the more data a generative model is trained on, the harder it becomes to trace a generated image to a single image from the training data.
Top left: an image from a model trained on public-domain artwork by 744 artists. Beside it: the alternate versions produced if each artist, in turn, had been excluded from training. Dai, Z., Gifford, D.K. Outputs of generative diffusion models are often unattributable.

US housing starts fell in July

High mortgage rates and a dire supply shortage have sidelined potential buyers.
A construction worker builds framing at a housing construction project in San Francisco
Robert Galbraith/Reuters

Tales of a plebeian ‘meathead’

Robert Harris’ ‘Agrippa’ dials back the clock a few thousand years from his novel-turned-Academy Award-winning film ‘Conclave.’

New Chinese model adds to AI competition

Chinese AI startup Zhipu said its new GLM-5.3 model outperformed Anthropic’s Mythos 5 in a key cybersecurity benchmark, marking the latest Chinese open-weight model to claim parity with the Western AI frontier.

‘600 pages of deep pleasure’

Philip Hensher’s ‘A History of the Novel in Britain’ revisits famous and forgotten works in equal measure.

US inflation rises 0.1% in July, easing pressure on Fed

The inflation data, along with a weak July jobs report, bolster the argument for a hold on rates.

An esoteric hallucinogen’s ‘superstar’ adherents

Journalist Kimon de Greef travels to the Sonoran desert in the southwestern US, where a powerful yet obscure drug has attracted evangelists.

AI avatars enter the job interview

For some job candidates, using AI in the application process is a reaction to a system that’s grown more machine than human.

A ‘beautifully’ rendered account of a blundering coup d’etat

Robert Service chronicles the 1991 attempt by communist hardliners to seize control of the USSR.

Amazon hits $3 trillion valuation on strong cloud earnings

Despite investor jitters about the Iran war, inflation, and AI spending, corporate profits generally keep climbing.

Carlyle strikes first deal in new defense push

Carlyle’s acquisition of Secturion Systems, which makes encryption hardware for government agencies, launches Carlyle’s middle-market defense platform, which is seeking to raise up to $3 billion.

Internal videos show how Polymarket trained creators on fake bets

A training presentation reveals how the company made a ‘fakecharts’ platform for influencers.

Sports betting takes a financial toll

Sports betting is eating into the savings of some of the most vulnerable households, a new study finds.

Tariff refunds weigh on federal budget

The US paid out $26 billion more in refunds than it collected in June after a February Supreme Court decision struck down most of the Trump administration’s levies, contributing to a widening $120 billion monthly deficit.
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