businessSunday, July 19, 2026
Today's business news is split between the AI hype machine and its critics. Chinese startup Moonshot AI plans a Hong Kong IPO after its Kimi K3 model caught up to Western AI, while a blistering essay argues that AI mania is eviscerating rational decision-making globally. Meanwhile, the UK nationalised British Steel, and a tiny Indian startup beat Tesla to a rare-earth-free motor.
Two stories capture the AI industry's split personality: a Chinese startup cashing in on a breakthrough, and a viral essay arguing the whole frenzy is a collective delusion.
Moonshot AI plans to file for a Hong Kong IPO within six months after its Kimi K3 model showed it can compete with top Western AI. The move signals growing investor appetite for Chinese AI, even as geopolitical tensions rise.
A widely shared essay argues that AI hype is creating a 'psychosis' in boardrooms, leading to irrational resource allocation and groupthink. It's the sharpest critique of the current AI investment wave yet.
Steel and motors saw nationalisation and innovation today, with the UK taking back British Steel and a tiny Indian startup claiming a rare-earth-free motor milestone.
The UK nationalised British Steel, ending six years of Chinese ownership under Jingye Group. Beijing has warned of trade retaliation, making this a test case for how far Western governments will go to protect strategic industries.
Bengaluru startup Vimag Labs claims to have built a rare-earth-free electric motor on a $5 million budget, beating Tesla to a milestone Elon Musk promised. If true, it could reshape the EV supply chain away from China-dominated rare earths.
Brazil’s Grid Is Already 85% Green — Here’s Howwww.riotimesonline.com
Even Microsoft couldn’t make Windows 11 work well on 8GB of RAMwww.theverge.com
Indian Workers Are Resisting Efforts to Train Their AI Robot Replacementstruthout.org
Crypto-Funded Human Trafficking Is Explodingwww.wired.com
Prometheus AI — Live Coverage & Latest Headlinesfinit.newsSCOTUS Leaves SEC Disgorgement Business Unfinishedfinit.news
The article discusses the U.S. Supreme Court's decision in SEC v. Jarkesy, which ruled that SEC disgorgement actions seeking legal penalties require a jury trial under the Seventh Amendment. However, the Court left key questions unresolved, including whether disgorgement is subje
Chinese startup Moonshot unveils powerful Kimi K3 AI model | AP Newsapnews.com
Chinese startup Moonshot unveiled its Kimi K3 AI model, surprising the U.S. tech industry. The open-source model appears to be catching up to top Western AI models like Anthropic's Claude and OpenAI's ChatGPT, topping charts on Arena's front-end coding capability ranking. The rel
The Odyssey's massive $124 million weekend is another win for Christopher Nolanwww.polygon.com
Christopher Nolan's film "The Odyssey" opened to a massive $124 million weekend at the box office, marking another major success for the director. The article argues that this demonstrates studios should trust visionary filmmakers with creative freedom, as audiences will reward a
SpaceX Updatewww.dailykos.com
SpaceX stock has experienced a significant selloff, dropping 45% from its all-time high of $225. The decline accelerated after Flight 13 was aborted when 4 of 33 engines failed to ignite. The stock closed the week down 14.5% from the previous week, continuing a downward trend tha
AI Giants Eye IPO: Who Will Go Public First?www.startuphub.ai
Kalshi prediction markets show traders betting on Anthropic to IPO before OpenAI, with significant volume in AI and geopolitical futures.
Walmart makes another move to win higher-income shopperswww.miramarflnews.com
Walmart is actively working to change its brand perception from a value-focused retailer to one that also appeals to higher-income shoppers. The strategy is showing results, with executives reporting growing market-share gains among households earning over $100,000. The retailer
Tesla has 3 main concerns heading into earnings report, says Deutsche Bankbit.ly
Tesla received a positive signal with Q2 deliveries exceeding 480,000 vehicles (a 25% year-over-year increase and its best Q2 ever), reversing a trend of declining annual deliveries in 2024 and 2025. However, Deutsche Bank highlights three main concerns heading into Tesla's earni
"Not a real phone": Brutal new exposé reveals the hilarious reality behind Tr*mp Mobile - Queertywww.queerty.com
The article covers the troubled rollout of the T1 Tr*mp Mobile phone, which collected $59 million in presales nearly a year before finally releasing physical units. When the phones finally reached consumers and reviewers, they were predictably terrible, confirming expectations th
Scaling a business – 7 tips for successbmmagazine.co.uk
This article is the first installment of a monthly series called "So You Want to Be a CEO," where business leader Gareth Lloyd shares advice on scaling a business. The content focuses on the importance of hiring exceptional people, drawing from the author's experience in the recr
What happens when coal mines close and renewable energy takes over?www.sbs.com.au
The article covers the transition from coal mining to renewable energy in the Hunter region of New South Wales, Australia. It focuses on the controlled demolition of chimneys at the former Liddell Power Station and the broader efforts by key stakeholders to ensure displaced coal
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