Samuel Boivin | Null Photo | Getty Images
Hello, this is Leonie Kidd from London.
Alibaba hopes to summon an AI genie out of a bottle with a giant stock sale. But investors aren’t convinced, and news that Nvidia could raise prices for some of its biggest customers will also get attention in the AI community this week.
Geopolitical developments are dominating the headlines, with tensions between Iran and Ukraine rising, and the trade war between the United States and Canada resuming.
Read more.
What you need to know today
Shares in Chinese technology giant Alibaba fell in Hong Kong on Monday after the group announced a $10 billion share issue to fund AI investments. The move comes days after Alibaba reported a 75% drop in profit for the June quarter as heavy AI spending weighed on results.
Meanwhile, Nvidia is reportedly planning to raise the price of AI for some large customers. The chipmaker could increase the cost of AI servers by more than 15% for customers in some cases, Bloomberg reported.
Technology stocks have weighed on trade across Asia more broadly. hansen and korean Kospi Under the most selling pressure.
trade showdown
Negotiations between the United States and Canada broke down on Friday after the two countries failed to reach a trade deal. A flurry of new tariffs will go into effect, affecting about $20 billion worth of Canadian imports. Canadian Prime Minister Mark Carney said his country would retaliate with its own “dollar-for-dollar” tariffs starting September 8.
U.S. President Donald Trump criticized the move in a post on Truth Social early Sunday morning, saying, “Canada is not a nation and wants the benefits of being a nation!!!” “They have also imposed huge tariffs on our great farmers for years. No more!!!”
Economic “D-Day”
“The economic D-day begins at dawn.”
This was US Treasury Secretary Scott Bessent’s warning to Iran as the Iranian government plans to unveil what it calls the “largest single financial attack in history.” Bessent is scheduled to hold a press conference later Monday to outline the measures.
Iranian Foreign Minister Abbas Araghchi dismissed the threat of new US sanctions as a “desperate” ploy, insisting US actions such as the blockade were doomed to failure.
Oil prices fell in early trading on Monday on expectations for further details.
ukraine independence day
On Monday, Ukraine will celebrate Independence Day, marking the 35th anniversary of the restoration of independence. This year, the country is also hoping the day marks a new financial commitment to support its war against Russia. Norway plans to contribute $9 billion in 2027, matching both military and humanitarian spending commitments in 2026.
Meanwhile, British Prime Minister Andy Burnham will make his first foreign trip as a leader to Kiev, the capital of Ukraine. He is expected to reiterate Britain’s commitment to Ukraine, including by allowing defense company MBDA to release sensitive information about long-range missile components. Burnham will meet with President Volodymyr Zelensky and chair the coalition’s first meeting.
— Leonie Kidd
