Shaq, Sam Altman-backed college startup Campus taps former Meta AI head as CTO

Campus, a college startup supported by Sam Altman, appointed Jerome Pesenti, ex-VP of AI at Meta, as Head of Technology. Campus will acquire Pesenti’s company, Sizzle AI, enhancing its educational tools for 1.7 million learners. This integration aims to personalize learning, improving access to quality education while attracting major investment and attention.

NYSE-owner Intercontinental Exchange rises after it takes $2 billion stake in Polymarket

Intercontinental Exchange (ICE) has acquired a $2 billion stake in prediction markets platform Polymarket, boosting its valuation to approximately $8 billion. ICE’s CEO Jeffrey Sprecher highlighted the partnership’s potential in expanding financial markets. This investment reflects the mainstream growth of prediction markets and their increasing legitimacy as an asset class.

Wall Street bets on chip boom are getting more concentrated, and it could be good thing for investors

The semiconductor sector, heightened by Nvidia’s remarkable growth, has drawn significant investor interest, particularly through ETFs like the VanEck Semiconductor ETF. With Nvidia’s influence expanding in AI and new investment strategies emerging, various ETFs offer diversified exposure to both large and small-cap chipmakers. Market dynamics suggest a promising future for this industry.

Treasury Secretary Bessent says U.S. GDP could take a hit from the government shutdown

U.S. Treasury Secretary Scott Bessent warned that the ongoing government shutdown risks harming economic growth and workers’ livelihoods. With signs of recovery fading, he highlighted potential drops in GDP and rising challenges for the labor market. Bessent also noted future support for farmers and the ongoing search for a new Federal Reserve Chair.

Investors aren’t the market’s biggest loser if Trump, SEC end quarterly reporting

The SEC is reviewing President Trump’s proposal to switch public companies from quarterly to semi-annual reporting, aiming to cut compliance costs and streamline operations. This change could significantly impact the revenue of the Big Four accounting firms, although some anticipate potential new business from increased IPOs. The proposal reflects a broader trend toward deregulation.

Dutch government takes control of Chinese-owned chipmaker Nexperia in ‘highly exceptional’ move

The Dutch government has seized control of Nexperia, a subsidiary of China’s Wingtech, to safeguard Europe’s semiconductor supply amid rising global trade tensions. This unprecedented move follows governance concerns within Nexperia and aims to prevent disruptions in critical chip production, particularly impacting the automotive sector and broader economic security. Wingtech’s shares fell following this intervention.

Divided Fed officials saw another two interest rate cuts by the end of 2025, minutes show

Federal Reserve officials were unified in favoring interest rate cuts, with a slight debate on the number of reductions in 2025. The FOMC voted 11–1 for a quarter-point cut, lowering the rate to 4%–4.25%. Concerns about the labor market and inflation were acknowledged, alongside uncertainty due to a government shutdown affecting economic data.