Nvidia delighted Wall Street with blockbuster second-quarter earnings, surpassing both revenue and profit expectations. Yet despite stellar performance in key areas like data centers, the company’s stock slumped amid concerns about shifting Chinese demand and new AI chip competition.

Elon Musk’s newest AI venture, xAI, has taken legal action against Apple and OpenAI. The lawsuit claims Apple’s ChatGPT integration on iPhones gives OpenAI an unfair advantage, leaving rival AI systems like Grok at a disadvantage.

Elon Musk has filed a 61-page antitrust lawsuit accusing Apple and OpenAI of collaborating to crush rival AI developments. The case, filed in a Texas federal court, follows through on a warning he issued just weeks earlier, raising questions about the future of competition in the fast-growing AI sector.