Iran rejects US claim to Hormuz as ship attacks mount 600 drones head for Moscow as Russia strikes Kyiv and Kryvyi Rih Death toll passes 50 after magnitude 7.7 quake off Flores Israeli strikes kill 11 in south Lebanon, deadliest since June truce Colombia asks Trump to suspend tariffs as quake toll climbs Rhine hits record low at Kaub as Hungary sinks barges to cool reactor US readies unprecedented economic measures against Iran US boat strikes pass 200 dead as Ecuadorean fishermen describe attacks Bond traders struggle to price $70bn of credit backstops behind AI buildout Alibaba says its open AI models passed three billion downloads Death toll rises to 68 after Lake Kariba ferry sinking Taliban mark five years in power as UN warns of rights crisis EU aircraft join fight against Belgium's record wildfire US presses Netanyahu over settlers as Qusra homes are occupied Mokha port halts operations as Houthi missiles hit Marib Seoul proposes talks to end the Korean war as North rejects drills China-led perovskite solar plant outperforms silicon in three-month field test OpenAI revenue run rate passes $40bn as revenue chief departs Hamas leader in Cairo as Kushner trip nears WHO says Congo's Ebola outbreak is outpacing the response Turkish parliament passes amnesty law for PKK members Morocco detains scores near Ceuta as feared mass crossing fails to materialise China publishes ecology reports to bolster South China Sea claims Myanmar says more than 300,000 Rohingya verified for repatriation Petrobras detects signs of oil off the mouth of the Amazon China condemns Japanese politicians' moves at Yasukuni Shrine US inflation cools as wages again lag behind prices Modi offers free exam coaching after youth protests in India Oil from grounded Russian tanker reaches Oman's coast Panama Canal cuts draught again as Mexico pitches rival corridor Ukraine's idle ports cost $1.75bn as farm exports fall Former Chinese premier Zhu Rongji dies At least 20 killed in communal clashes in central Nigeria Iran accuses Qatar of holding three of its pilots Xi calls for shift to prevention as floods batter China Venezuela frees 131 more political prisoners More Syrians in Germany lose refugee protection Audit finds gaps in Taiwan's counter-drone defences India drafts rules to open nuclear power to private firms Hichilema takes early lead as Zambian count resumes Paris prosecutors open investigation into tax portal hack Report details leverage behind Situational Awareness losses Argentina has lost 30,633 companies under Milei At least five dead in Indiana flooding Iran detains two French diplomats over alleged infiltration Canadian petition to expel US ambassador passes 170,000 signatures India raises $50bn from its diaspora and ends swap facility early Opaque start-ups build erotic AI industry from Cyprus and Malta Britain's biggest EV battery plant shelves expansion as Jaguar Land Rover talks stall Third drone debris find in a day on Turkish coasts Forecasters put 95 percent odds on a very strong El Niño Secondhand booksellers suspect AI firms behind bulk orders Etna alert lowered as Catania airport reopens Funeral held for Indigenous girl whose death sparked outback riots Iran rejects US claim to Hormuz as ship attacks mount 600 drones head for Moscow as Russia strikes Kyiv and Kryvyi Rih Death toll passes 50 after magnitude 7.7 quake off Flores Israeli strikes kill 11 in south Lebanon, deadliest since June truce Colombia asks Trump to suspend tariffs as quake toll climbs Rhine hits record low at Kaub as Hungary sinks barges to cool reactor US readies unprecedented economic measures against Iran US boat strikes pass 200 dead as Ecuadorean fishermen describe attacks Bond traders struggle to price $70bn of credit backstops behind AI buildout Alibaba says its open AI models passed three billion downloads Death toll rises to 68 after Lake Kariba ferry sinking Taliban mark five years in power as UN warns of rights crisis EU aircraft join fight against Belgium's record wildfire US presses Netanyahu over settlers as Qusra homes are occupied Mokha port halts operations as Houthi missiles hit Marib Seoul proposes talks to end the Korean war as North rejects drills China-led perovskite solar plant outperforms silicon in three-month field test OpenAI revenue run rate passes $40bn as revenue chief departs Hamas leader in Cairo as Kushner trip nears WHO says Congo's Ebola outbreak is outpacing the response Turkish parliament passes amnesty law for PKK members Morocco detains scores near Ceuta as feared mass crossing fails to materialise China publishes ecology reports to bolster South China Sea claims Myanmar says more than 300,000 Rohingya verified for repatriation Petrobras detects signs of oil off the mouth of the Amazon China condemns Japanese politicians' moves at Yasukuni Shrine US inflation cools as wages again lag behind prices Modi offers free exam coaching after youth protests in India Oil from grounded Russian tanker reaches Oman's coast Panama Canal cuts draught again as Mexico pitches rival corridor Ukraine's idle ports cost $1.75bn as farm exports fall Former Chinese premier Zhu Rongji dies At least 20 killed in communal clashes in central Nigeria Iran accuses Qatar of holding three of its pilots Xi calls for shift to prevention as floods batter China Venezuela frees 131 more political prisoners More Syrians in Germany lose refugee protection Audit finds gaps in Taiwan's counter-drone defences India drafts rules to open nuclear power to private firms Hichilema takes early lead as Zambian count resumes Paris prosecutors open investigation into tax portal hack Report details leverage behind Situational Awareness losses Argentina has lost 30,633 companies under Milei At least five dead in Indiana flooding Iran detains two French diplomats over alleged infiltration Canadian petition to expel US ambassador passes 170,000 signatures India raises $50bn from its diaspora and ends swap facility early Opaque start-ups build erotic AI industry from Cyprus and Malta Britain's biggest EV battery plant shelves expansion as Jaguar Land Rover talks stall Third drone debris find in a day on Turkish coasts Forecasters put 95 percent odds on a very strong El Niño Secondhand booksellers suspect AI firms behind bulk orders Etna alert lowered as Catania airport reopens Funeral held for Indigenous girl whose death sparked outback riots

Symbolic image: Bank of America pledges $250bn for AI and energy infrastructure

Symbolic image

Bank of America pledges $250bn for AI and energy infrastructure

3 sources

Bank of America will deploy $250bn into AI and energy infrastructure, the Wall Street Journal reported on Wednesday. Results from Cisco, Foxconn and Tencent showed the spending's reach and cost.

The paper said on Wednesday, 12 August that the money would go into data centres, chips and the power they need. It published no terms, timetable or split between AI and energy lending. The pledge follows Nvidia's pact with six Wall Street firms to assemble at least $500bn for AI sites, which rests on letters of intent and on Nvidia guaranteeing up to a quarter of individual projects.

Record orders at Cisco and Foxconn

Cisco reported a sharp jump in profit and beat its sales outlook, citing broad-based record demand, according to the WSJ and Bloomberg. The WSJ also reported that Foxconn is scaling up global AI server production.

Tencent pays for its own build-out

Bloomberg reported that Tencent's sales beat estimates on a surge in WeChat advertising and resilient games, while the WSJ said the group's AI spending ended its run of profit growth.

Investors examine the financing

Bloomberg pointed to AI-backed securities and to potential peak earnings setting up disappointing stocks, and reported on Thursday that Korean stocks had risen 22% in ten days as the chip rally regained steam.

Other opinions

All available reporting came from US financial outlets; on Tencent, Bloomberg led with the sales beat, the WSJ with the stalled profit growth.