Happy Thursday. Breaking news this morning: Nvidia has agreed to buy open-source artificial intelligence platform Hugging Face for nearly $13 billion. Stock futures are mixed this morning after a winning day on Wall Street.
Here are five key things investors need to know to start the trading day:
1. Summit up
The G20 wrapped up its two-day Innovation Ministerial yesterday, where technology leaders and government representatives talked artificial intelligence, data centers and tariffs.
- Nvidia CEO Jensen Huang said that AI will "democratize intelligence" for G20 countries.
- OpenAI CEO Sam Altman, meanwhile, said using AI is a "non-negotiable" for countries.
- Palantir CEO Alex Karp acknowledged that there are "huge dangers" to the technology.
- On the data center front, Anthropic co-founder Tom Brown said that data centers will "bring prosperity".
2. Bond, John Bond
After hitting its highest level since 2023, the 10-year U.S. Treasury yield pulled back in Wednesday's session.
3. Snow forecast
Snowflake soared 24% in extended trading after the company raced past analysts' second-quarter estimates.
4. Funding risks
A former senior advisor to the Federal Reserve Board of Governors was sentenced to over three years in prison.
5. Pickup in production
Production of Ford's so-called "Super Duty" trucks hit 20-year highs last month.
