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Here’s a quick recap of the crypto landscape for Monday (July 7) as of 9:00 am UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) is priced at US$108,960, trading flat in the last 24 hours. The day’s range for the cryptocurrency brought a low of US$108,077 and a high of US$109,574.

Bitcoin price performance, July 7, 2025.

Chart via TradingView

Ethereum (ETH) is priced at US$2,581.84, up by 1.8 percent over the past 24 hours. Its lowest valuation as of Monday was US$2,513.50 and its highest was US$2,598.09.

Altcoin price update

  • Solana (SOL) was priced at US$152.49, up by three percent over 24 hours. Its highest valuation as of Monday was US$153.27, and its lowest was US$148.10.
  • XRP was trading for US$2.27, trading flat in the past 24 hours. The cryptocurrency’s lowest valuation was US$2.25 and its highest was US$2.29.
  • Sui (SUI) is trading at US$2.91, trading flat over the past 24 hours. Its lowest valuation was US$2.88 and its highest was US$2.96.
  • Cardano (ADA) is priced at US$0.5877, up by 1.2 percent in the last 24 hours. Its lowest valuation as of Monday was US$0.5776 and its highest was US$0.5922.

Today’s crypto news to know

SEC’s crypto ETF guidance signals mainstream shift

The US Securities and Exchange Commission took a major step toward regulating crypto exchange-traded products with its first formal guidance on crypto ETP disclosures, according to a Reuters analysis.

Issued last week, the 12-page document clarifies how issuers should describe risks and custody arrangements in “plain English,” which could speed up approval of dozens of new crypto ETFs tied to Solana, XRP, and even Trump’s meme coin.

The SEC is also developing a more standardized listing rule to replace the case-by-case exemptions that currently delay launches. That change could shrink approval timelines from 240 days to as little as 75.

Insiders expect the next round of SEC guidance, potentially out by autumn, to fully reshape how crypto funds come to market.

Musk’s America Party goes all-in on Bitcoin, calls fiat ‘hopeless’

Elon Musk confirmed that his newly formed America Party will officially embrace Bitcoin after declaring that “fiat is hopeless” in a post on X.

The move follows Musk’s earlier hints at increasing his own Bitcoin exposure and praising Bitcoin as a hedge against traditional currency.

Musk previously supported Donald Trump’s reelection campaign and even headed the Department of Government Efficiency before splitting with Trump over his budget bill, leading to the creation of the America Party.

The shift could inject more digital asset discussions into US politics as Musk tries to build a third-party movement.

Despite hype from Dogecoin supporters, no plans for DOGE adoption were announced.

Metaplanet boosts Bitcoin stash past 15,500 BTC in aggressive buying spree

Japan’s Metaplanet disclosed this week that it purchased another 2,205 BTC at an average price of 15.64 million yen per coin, spending around US$213 million.

This purchase brings the firm’s total bitcoin holdings to 15,555 BTC, making Metaplanet one of the world’s largest corporate holders of the asset.

The company tracks a proprietary metric called BTC Yield, measuring the effect of share dilution on per-share bitcoin value.

For the second quarter, Metaplanet reported a BTC Yield of 95.6 percent, down from 309.8 percent the previous quarter, but still strong enough to highlight aggressive growth.

Metaplanet’s total BTC investment now tops US$1.38 billion.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

 

 

Trading resumes in:

 

Company: Stallion Uranium Corp.

 

TSX-Venture Symbol: STUD

 

All Issues: Yes

 

Resumption (ET): 9:30 AM  

 

CIRO can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. CIRO is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada .

 

SOURCE Canadian Investment Regulatory Organization (CIRO) – Halts/Resumptions

 

 

 

  View original content: http://www.newswire.ca/en/releases/archive/July2025/07/c5804.html  

 

 

 

News Provided by Canada Newswire via QuoteMedia

This post appeared first on investingnews.com

The owners of a pet lion that jumped a wall and attacked a woman and two children in the Pakistani city of Lahore have been arrested.

The woman and her two young children, aged 5 and 7, were taken to hospital, after being attacked in an alleyway when the lion escaped from a farmhouse in the neighborhood of Johan town on Thursday.

Security camera footage released by police showed the lion leaping over a concrete wall and pouncing on a woman from behind, knocking her to the ground. A man can be seen running out of the property the lion escaped from with an object in hand and chasing the lion away from the woman, before the wild cat takes off further down the road where the children were attacked.

They sustained injuries to their faces and arms but are now in stable condition, according to the Associated Press news agency.

Lahore police said in a video posted to social media that the lion had escaped from an open cage at the farmhouse and that it was recaptured by the owners, who promptly put it in a vehicle and went into hiding in another district.

Muhammad Faisal Kamran, Deputy Inspector General of Lahore Police Operations, said three people were arrested on Friday morning. “We’ve also captured the lion and transferred it to Wildlife authorities,” Kamran said.

Lahore police shared an image of three men in a police cell and video of the lion in a cage.

Owning wild cats as pets is seen as a status symbol in Pakistan and is not uncommon, but a license is required, and large cats must be kept outside city limits.

“This unfortunate incident highlights how wild animals are often kept in such places without a license, or permission — with no legal procedures followed — endangering the lives of many people,” Kamran said.

The Punjab government announced Sunday that it was undertaking a province-wide crackdown on those keeping lions without a license. So far, 13 lions have been captured and five individuals arrested in connection with violating wildlife regulations.

This post appeared first on cnn.com

Indonesia’s rumbling Mount Lewotobi Laki Laki erupted Monday, sending a column of volcanic materials as high as 18 kilometers (11 miles) into the sky and depositing ash on villages.

The volcano has been at the highest alert level since last month and no casualties were immediately reported.

Indonesia’s Geology Agency recorded an avalanche of searing gas clouds mixed with rocks and lava traveling up to 5 kilometers (3 miles) down the volcano’s slopes during the eruption. Observations from drones showed lava filling the crater, indicating deep movement of magma that set off volcanic earthquakes.

The column of hot clouds that rose into the sky was the volcano’s highest since the major eruption in November 2024 that killed nine people and injured dozens, said Muhammad Wafid, the Geology Agency chief. It also erupted in March.

“An eruption of that size certainly carries a higher potential for danger, including its impact on aviation,” Wafid told The Associated Press from Switzerland where he was attending a seminar. “We shall reevaluate to enlarge its danger zone that must be cleared of villagers and tourist activities.”

The volcano monitoring agency had increased the alert status for Mount Lewotobi Laki Laki to the highest level after an eruption on June 18, and more than doubled an exclusion zone to a 7-kilometer (4.3-mile) radius since then as eruptions became more frequent.

After an eruption early last year, about 6,500 people evacuated and the island’s Frans Seda Airport was closed. The airport has remained closed since then due to the continuing seismic activity.

The 1,584-meter (5,197-foot) mountain is a twin volcano with Mount Lewotobi Perempuan in the district of Flores Timur.

Monday’s eruption was one of Indonesia’s largest volcano eruptions since 2010 when Mount Merapi, the country’s most volatile volcano erupted on the densely populated island of Java. That eruption killed 353 people and forced over 350,000 people to evacuate affected areas.

Indonesia is an archipelago of more than 280 million people with frequent seismic activity. It has 120 active volcanoes and sits along the “Ring of Fire,” a horseshoe-shaped series of seismic fault lines encircling the Pacific Basin.

This post appeared first on cnn.com

Erin Patterson, the Australian woman accused of killing three relatives with a meal of death cap mushrooms baked in a Beef Wellington lunch, has been found guilty of three counts of murder and the attempted murder of the lone survivor.

A 12-member jury reached the verdict after around six days of deliberation following a 10-week trial in Morwell, a tiny town about an hour’s drive from the suburban dining room in Leongatha, Victoria, where the lethal lunch was served in July 2023.

Patterson’s former parents-in-law, Don and Gail Patterson, died along with Gail’s sister Heather Wilkinson. Heather’s husband Ian, their local pastor, survived after a weekslong stay in hospital.

Prosecutors alleged that Patterson deliberately laced the lunch with death cap mushrooms, highly toxic fungi that she picked after seeing their location posted on a public website.

Her defense lawyers argued the deaths were a “terrible accident” and that Patterson repeatedly lied to police out of panic when she realized she may have added foraged mushrooms to the meal.

Under Australian law, none of the jurors can be publicly identified, and they’re prohibited from disclosing jury room deliberations even after the trial ends.

It will never be known which pieces of evidence influenced each juror’s decision, but all 12 were required to agree on the verdict.

The trial has captivated audiences worldwide via news reports and four podcasts dedicated to unpacking each day’s evidence.

Patterson sat in court, listening as prosecutors called witness after witness, whose testimony, they alleged, told a compelling story of a triple murder that the jury found satisfied the legal standard of beyond reasonable doubt.

The fateful lunch

The agreed facts were that Patterson asked five people to lunch on July 29, 2023, including her estranged husband Simon Patterson, who pulled out the day before.

Within hours of the meal, the four lunch guests – Simon’s parents Don and Gail, and his aunt and uncle, Heather and Ian Wilkinson – became ill with vomiting and diarrhea. They went to hospital where they were placed in induced comas as doctors tried to save them.

Gail and Heather died on August 4 from multiorgan failure, followed by Don on August 5, after he failed to respond to a liver transplant. Ian Wilkinson survived and was finally discharged from hospital in late September, after almost two months of intensive treatment.

Death cap mushrooms contain amanita toxins that prevent the production of proteins in liver cells, leading to cell death and possible liver failure from about two days after ingestion.

Native to Europe, the lethal mushrooms have been found growing in several Australian states, and around the time of the lunch, they had been seen within a short drive of Patterson’s home in rural Victoria.

In finding Patterson guilty, jury members indicated they were convinced beyond reasonable doubt that she planned to kill all four guests by hiding death cap mushrooms in the lunch.

During the trial, the prosecution argued that Patterson had the opportunity to pick lethal mushrooms after seeing their location posted on the citizen science iNaturalist website.

The guilty verdict suggests the jury accepted the prosecution’s argument that she likely traveled to two sites in April and May 2023, and deliberately picked the mushrooms used in the meal.

Patterson admitted that on April 28 – the same day as cellphone signals put her in the vicinity of death cap mushrooms – she bought a dehydrator that she later dumped at a waste recycling center on August 2.

It had her fingerprints on it and contained remnants of death cap mushrooms.

The prosecution alleged that Patterson faked illness in the days after serving the lunch and tried to cover her tracks by disposing of the dehydrator and factory resetting her devices to delete evidence.

The prosecution did not have to prove motive.

Prosecutor Nanette Rogers SC accused Patterson of having two faces: One she showed the world that suggested she had a good relationship with the Pattersons, the parents of her estranged husband, and a hidden face she showed only her Facebook friends that suggested she wanted to cut ties with them.

In Facebook messages sent in December 2022, Patterson had expressed anger and frustration over Don and Gail’s reluctance to get involved in their son’s marriage breakdown.

“I’m sick of this shit I want nothing to do with them,” she wrote. “I thought his parents would want him to do the right thing but it seems their concern about not wanting to feel uncomfortable and not wanting to get involved in their son’s personal matters are overriding that so f*** em.”

And another message read: “This family I swear to f***ing god.”

During eight days of testimony including cross-examination, Patterson consistently pleaded her innocence, claiming she inadvertently added foraged mushrooms to the meal.

In his directions to the jury, Justice Christopher Beale said that Patterson’s admission that she told lies and disposed of evidence must not cause them to be prejudiced against her.

“This is a court of law, not a court of morals,” he said.

“The issue is not whether she is in some sense responsible for the tragic consequences of the lunch, but whether the prosecution has proved beyond a reasonable doubt that she is criminally responsible for those consequences,” he said.

The jury found that Patterson had intended to kill all four lunch guests and lied repeatedly on the stand to claim she didn’t.

Patterson will be sentenced at a later date.

This is a developing story. More to come

This post appeared first on cnn.com

Suriname’s parliament backed Jennifer Simons as the South American country’s first woman president on Sunday, setting the doctor and former parliamentary speaker on course to helm a nation on the cusp of a predicted oil boom.

Surinamese lawmakers backed Simons as president six weeks after the ruling party and its top opposition nearly tied in the race for legislative seats, leading to a coalition deal to install Simons as president.

Simons’ opposition National Democratic Party won 18 seats and current President Chan Santokhi’s Progressive Reform Party won 17 seats in the May 25 parliamentary election. Smaller parties won the remaining 16 seats.

Suriname’s president is elected indirectly. Following the general election, members of the National Assembly vote for the president, and a candidate must secure a two-thirds majority to win the office.

“I come into this office to serve, and I will use all my knowledge, strength and insight to make our wealth available to all of our people,” Simons, 71, said in a brief speech after lawmakers approved her appointment with a round of applause.

Simons vowed to pay special attention to young people and those who have not yet had the best opportunities.

“I am very aware of the responsibility now placed on our shoulders, a responsibility compounded for me by the fact that I am the first woman to hold this office,” she added. “I do not need many words. My thanks and we will get to work.”

Incumbent President Chan Santokhi, a 66-year-old former police commissioner who stood for re-election, had faced criticism over a lack of protections for the poorer and more vulnerable sectors of society.

Santokhi congratulated Simons on her election and told lawmakers he took responsibility for his shortcomings and hoped he would be remembered for his commitment. He said he would continue to serve the country after the transition as a member of parliament.

A coming boom

Suriname, a former Dutch colony independent since 1975, is expected to see a surge in revenues from the nation’s first big offshore energy development, an oil and gas project led by TotalEnergies TTEF.PA.

The Gran Morgu project is set to begin production in 2028. Discovered reserves may allow Suriname to compete with neighboring Guyana, whose economy grew 43.6% last year, as a prominent producer.

However, campaigning featured little debate about what the next government, which will hold power until 2030, should do with the income.

Simons’ election was agreed in a six-party deal two days after the parliamentary contest, but was not made official until Sunday’s vote. Her inauguration is scheduled for July 16.

Suriname’s parliament backed Simons for the post by acclamation, alongside National Party of Suriname (NPS) leader Gregory Rusland as her vice president.

Simons served as parliamentary speaker for a decade until 2020. She was second in vote tallies behind Santokhi, winning more than 41,700 votes. She is the head of the NDP, founded by former President Desi Bouterse, who dominated Surinamese politics for decades but died a fugitive last year.

NDP founder Bouterse left office in 2020, the year after he was convicted in the 1982 murders of 15 government critics.

When the conviction was upheld in 2023, Bouterse went into hiding, dying at the age of 79 at an unknown location on Christmas Eve.

This post appeared first on cnn.com

Israel carried out it first strikes against Houthi targets in Yemen since the Israel-Iran ceasefire, attacking ports and a power plant around midnight local time Sunday night into Monday morning.

The strikes come after at least three Houthi ballistic missiles were launched at Israel after the ceasefire, according to the Israel Defense Forces (IDF) including one missile that was intercepted Saturday.

Israel struck the ports of Hodeida, Ras Isa, Salif and the Ras Kanatib power plant along the Red Sea. The IDF also struck the Galaxy Leader, a cargo ship seized by the Houthis in November 2023.

“Houthi forces installed a radar system on the ship and have been using it to track vessels in the international maritime arena to facilitate further terrorist activities,” the IDF said in a statement following the strikes.

A short time before the wave of strikes, the IDF’s Arabic language spokesman, Avichay Adraee, issued an evacuation warning for the ports and the power station.

Defense Minister Israel Katz said the strikes were part of the newly named Operation “Black Flag.” In a statement on social media, Katz said, “The Houthis will continue to pay a heavy price for their actions” and promised more attacks would follow if the Houthis kept launch drones and ballistic missiles at Israel.

The Houthi military confirmed the strikes but said, “Yemeni air defenses effectively confronted the Israeli aggression,” using, “a massive barrage of locally manufactured surface-to-air missiles,” in a short statement on early Monday morning local.

Houthi political bureau member Mohammed Al Farah said targeting Yemeni ports, power stations, and other “civilian facilities is an attempt to harm civilians and has no connection to any military activity,” according to the Houthi-run Al-Masirah TV.

The attack comes as Israeli Prime Minister Benjamin Netanyahu travels to Washington to meet with US President Donald Trump.

Since Israel’s war with Hamas in Gaza started in October 2023, the country has come under fire from missiles and rockets from Hezbollah in Lebanon and the Houthis in Yemen, who claim to strike Israel in solidarity with the Palestinians.

The Iran-backed Houthis have also repeatedly targeted commercial and military ships in the Red Sea.

In March, the US carried out extensive strikes on Yemen to degrade the group’s military capabilities.

This is a developing story and will be updated.

This post appeared first on cnn.com

Chinese chain Luckin Coffee opened its first two U.S. locations this week, betting that mobile-only ordering and creative flavors can lure customers away from Starbucks.

Both new Luckin stores are based in Manhattan, and at the midtown location on Wednesday, Sam Liu took a sip of her jasmine cold brew.

“I’ve never tried anything like it,” she said.

I thought I just order at the counter, but I realized everyone was standing around looking at their phone.

Luckin Customer Sam Liu, New York City

Liu said she’d hoped for more seating — the small shop has only three tables — and was initially confused by Luckin’s in-app ordering system, which means customers can’t order directly from a barista.

“I thought I just order at the counter, but I realized everyone was standing around looking at their phone,” Liu said.

Luckin is China’s largest coffee chain, with more than twice as many locations as Starbucks there. Its two New York City stores are its first foray outside Asia, where it has over 24,000 locations across the region. By comparison, there are over 17,000 Starbucks in the United States.

Its CEO, Guo Jinyi, called the U.S. “a strategically important market” for the company’s expansion in a press release heralding the two new locations Wednesday. “We are excited to introduce a diverse and unique coffee experience to American consumers.”

The company, which didn’t respond to a request for comment, has touted its ambitions to expand globally but hasn’t publicly detailed its next moves in the U.S. or other markets.

The chain has gained success overseas through creative drinks like alcohol-infused coffees and fruit lattes, along with its smartphone-centric ordering model. The app-based approach makes it easier to track inventory, send personalized appeals to consumers and serve drinks quickly, said John Zolidis, an analyst who tracks Luckin and Starbucks at the brokerage firm he founded, Quo Vadis Capital.

“Luckin was able to develop an incredible muscle with regard to product innovation, and they have been very creative in China,” he said.

Drink orders ready for pickup or delivery inside one of the Manhattan Luckin shops on Monday.Anthony Behar / Sipa USA via AP

Zolidis said how Luckin fares on Starbucks’ home turf will depend on its ability to differentiate its menu from other major U.S. coffee chains and smaller, independent cafes. Its American lineup already includes distinctive drinks like blood orange cold brew and coconut lattes.

“These orange drinks, or one of their most successful, a coconut cloud latte — that’s how you get trial [customers] from the U.S.,” Zolidis said.

Luckin faced financial troubles during the pandemic. It was delisted from Nasdaq in 2020 after its stock plunged following an internal investigation that found an executive had falsified revenue reports. The company filed for bankruptcy in the U.S. the following year but emerged from proceedings in 2022 and its sales have soared since, reaching $4.7 billion worldwide in fiscal year 2024, a 38.4% increase from 2023.

Luckin was able to develop an incredible muscle with regard to product innovation, and they have been very creative in China.

John Zolidis, Founder, Quo Vadis Capital

Starbucks, by contrast, is struggling in both the U.S. and China. Its same-store sales in the U.S. declined 2% and its sales in China 8% in fiscal year 2024, and it reported in April that its quarterly profit was half of what it pulled in for the same period last year. The Seattle-based chain is reportedly looking to partially sell its business in China while revamping its U.S. strategy to focus on customer experience and human connection, in contrast with Luckin’s model.

“We veered away from, I think, owning the idea of the ‘third place,’ the coffeehouse experience, making sure that the customer was front and center,” Starbucks CEO Brian Niccol told NBC News in June.

A Starbucks spokesperson declined to comment.

Zolidis said that whereas Starbucks aims in both the U.S. and China to appeal to customers looking for higher-end coffee served in an inviting setting, Luckin has successfully positioned itself as the “everyman’s coffee” in China, with low prices and small, grab-and-go storefronts.

After taking the train in from Hoboken, New Jersey, to check out the new one in midtown, Samantha Coy said the trip was worth it. She had enjoyed Luckin in China previously and was eager to order one of its fruit drinks.

“I’m surprised Starbucks hasn’t tried to bring that over to the U.S.,” Coy said. “I hope they stay open.”

Zolidis said he thinks Luckin is well-positioned to gain a foothold in America.

“They’ve been able to operate and grow incredibly quickly in the Chinese market, much faster than I would have thought possible, and they’ve been able to sustain it and develop a strong financial model so they can fund their expansion in the U.S.,” Zolidis said. “They wouldn’t be coming here to try it if they didn’t think they had a shot of owning part of the market.”

This post appeared first on NBC NEWS

Iran’s Supreme Leader Ayatollah Ali Khamenei attended a religious gathering on Saturday, according to Iranian state media outlet Press TV, the first time he has appeared in public in several weeks.

Khamenei had not made a public appearance since his country was plunged into conflict on June 13, when Israel unilaterally bombed Iranian military and nuclear sites. The US later joined in, bombing three key Iranian nuclear sites before US President Donald Trump declared a ceasefire.

In video posted by Press TV on X, Khamenei waves to a crowd of black-clad worshippers marking the eve of Ashura, when Shia Muslims commemorate and mourn the death of the Prophet Muhammad’s grandson Husayn ibn Ali. The crowd greeted the cleric in turn with cheers and chants.

Weeks in hiding

Khamenei, the longest-ruling leader in the Middle East, reportedly spent the 12-day conflict with Israel and the US hiding in a bunker with little access to outside communications. During the conflict, both Israeli politicians and Trump openly discussed overthrowing Khamenei’s government and deposing him by force.

After reportedly rejecting an Israeli plan to kill Khamenei, Trump stated in late June that the cleric was an “easy target.” Israeli Prime Minister Benjamin Netanyahu did not rule out targeting Khamenei either, saying that his death would “not … escalate the conflict,” but rather “end” it.

In a recorded statement posted from an undisclosed location days after the ceasefire began, Khamenei was defiant, declaring victory over both Israel and the US. Khamenei took time to respond directly to US President Donald Trump, who had called for Iran’s “unconditional surrender” shortly before ordering US airstrikes.

“This (conflict) is not about our nuclear program,” Khamenei said. “This is about Iran surrendering … in his statement, (Trump) revealed the truth, he showed his hand. The Americans have had a fundamental issue with Islamic Iran since our revolution.”

“And it will never happen,” Khamenei said of Trump’s demand.

“The Islamic Republic had one social contract with society, which is that it deprived them of all freedoms … in return for providing security,” said Ali Vaez, director of the Iran Project at the International Crisis Group. “Now, that image has been shattered in the eyes of the Iranian people.”

US ‘won’t allow’ Iranian nuclear program

Khamenei’s new public appearance comes a day after Trump told reporters aboard Air Force One that the US won’t allow Iran to restart its nuclear program.

“If they did start, there’d be a problem. We wouldn’t allow that to happen,” Trump said Friday.

Trump said he would discuss the previous strikes with Netanyahu, who is due to visit Washington on Monday.

The comments echo remarks made earlier on Friday by Israel’s defense minister, Israel Katz, who said his country must maintain “aerial superiority” over Iran to ensure it cannot rebuild its nuclear or missile production programs.

Trump reiterated his claim that Iran wants to meet with the US for talks, a statement Iranian officials have repeatedly denied.

The Trump administration has discussed possibly helping Iran access as much as $30 billion to build a nuclear program for civilian energy production, easing sanctions, and freeing up billions of dollars in restricted Iranian funds – all part of an intensifying attempt to bring Tehran back to the negotiating table, four sources familiar with the matter said.

This post appeared first on cnn.com

The stock markets had a dynamic start to the third quarter, pushing indices to new highs after earlier tariff concerns.

On Monday (June 30), markets generally saw strong gains, with the S&P 500 (INDEXSP:INX) and Nasdaq Composite (INDEXNASDAQ:.IXIC) reaching new record highs in the US while the S&P/TSX Composite Index (INDEXTSI:OSPTX) climbed higher after a last-minute policy reversal to rescind a planned digital services tax targeting US tech firms.

Tuesday (July 1), Canadian markets were closed for Canada Day. As for US markets, following two consecutive days of highs, the S&P and Nasdaq declined on Tuesday (July 1) after a renewed feud between Tesla (NASDAQ:TSLA) CEO Elon Musk and US President Donald Trump sent Tesla shares down by over 5 percent.

However, tech stocks boosted the performance of both Canadian and US markets on Wednesday (July 2) and Thursday (July 3) after export restrictions to China were lifted and the US labor market reported better-than-expected unemployment data.

US markets were closed on Friday (July 4) for a holiday, while Canadian markets ended the day slightly positive.

1. Meta announces AI restructure, continues talent acquisition

Last weekend, reports surfaced that Meta Platforms (NASDAQ:META) has hired four additional researchers from OpenAI, bringing the total number of high-profile AI talent poached from other tech labs to 13, according to a tweet from former Scale AI CEO Alexandr Wang, who was recently recruited as Meta’s Chief AI Officer.

Then, in an internal memo to employees on Monday, Meta CEO Mark Zuckerberg unveiled the company was restructuring its AI division under the name Meta Superintelligence Labs. According to the memo, which was reviewed by Bloomberg, the new division will be led by Wang and one of its commitments is ‘developing AI ‘superintelligence’ or systems that can complete tasks as well as or even better than humans.’

Meta has reportedly offered researchers contracts and signing bonuses worth up to US$100 million; however, Chief Technology Officer Andrew Bosworth has pushed back on those reports, claiming the figures are inflated.

Helen Toner, a former OpenAI board member and director of strategy at Georgetown’s Center for Security and Emerging Technology, told Bloomberg TV’s Haslinda Amin on Thursday that Meta’s bid to become an AI leader would be “difficult” considering its track record of internal dysfunction and questions around the return on its massive talent spending.

“Meta has started to get a reputation of having a little bit of a dysfunctional AI team, not really having its organizational structure set up in a way that really lets them succeed and innovate. And what I think we’re seeing here is CEO Mark Zuckerberg really stepping in and saying, well, we have to do something differently. We need a big new push, we need a big new effort,’ she said.

‘I think (Meta is) really trying to start something new, to pour enormous amounts of financial resources into that. So the question (to watch) is six months from now, 12 months from now, is that paying off for them?’

2. Apple considers third-party AI for Siri overhaul

Apple (NASDAQ:AAPL) is reportedly in active discussions with Anthropic and OpenAI to integrate their foundation models into an overhauled version of its voice assistant Siri, a significant pivot from the company’s in-house approach to AI. According to people familiar with the discussions who spoke to Bloomberg, Apple has asked both companies to train versions of their models that could be tested on Apple’s infrastructure, the publication reported Monday.

Apple announced plans to release a new version of its voice assistant at its Worldwide Developers Conference in 2024. The release was slated for 2026, but the company has run into multiple engineering snags and delays, and ultimately replaced John Giannandrea with Mike Rockwell as the new Siri chief executive.

Rockwell and software engineering head Craig Federighi launched an evaluation, instructing staff to assess Siri’s performance using third-party tech, including Anthropic’s Claude, OpenAI’s ChatGPT and Alphabet’s (NASDAQ:GOOGL) Gemini.

According to Bloomberg’s sources, the team found Anthropic’s technology most promising for Siri, leading Apple’s vice president of corporate development to open discussions with Anthropic.

Bloomberg’s sources maintain that the development of an in-house model is still active, and Apple hasn’t made a final decision on using third-party models.

Apple shares closed up 6.24 percent for the week.

Apple’s share price performance, June 30 to July 3, 2025.

3. Oracle and OpenAI ink massive computing deal

OpenAI will rent roughly 4.5 gigawatts of computing power from Oracle (NYSE:ORCL) as part of the Stargate Project, according to sources for Bloomberg. The news follows a US$30 billion single cloud deal announced on Monday with an unnamed customer.

The Stargate energy deal is reportedly a component of that larger contract.

Sources added that Oracle will develop multiple data centers in the US, considering sites in Texas, Michigan, Wisconsin and Wyoming, and that the company will expand its recently built center in Abilene, Texas, to accommodate about two gigawatts of power capacity.

This collaboration underscores the escalating demand for high-performance computing necessary to train and operate advanced AI models. OpenAI, a leader in AI research and development, requires immense computational resources to fuel its projects, including large language models and other sophisticated AI applications.

The Stargate initiative positions Oracle as a crucial enabler of this next generation of AI innovation, solidifying its role in the evolving cloud and AI ecosystem. The long-term implications of this partnership could see a significant shift in how AI companies acquire and manage their computational infrastructure, potentially paving the way for more dedicated and extensive cloud partnerships in the future.

Oracle’s share price performance, July 1 to July 3, 2025.

4. CoreWeave deploys first Nvidia GB300-powered AI server

CoreWeave (NASDAQ:CRWV) said it has received the first AI server system built around NVIDIA’s (NASDAQ:NVDA) ultra-powerful GB300 Grace Blackwell AI chip.

The server is deployed within Dell’s (NYSE:DELL) integrated rack-scale system — a turnkey AI infrastructure platform combining compute, networking and cooling — and features 72 of Nvidia’s GB200 chips.

CoreWeave said it will install the cutting-edge hardware in the US and roll out more servers over time. The company will offer the server as part of its AI cloud platform, allowing clients like OpenAI to train and deploy massive, next-generation AI models with faster speeds and greater efficiency.

In the announcement, CoreWeave claimed the NVIDIA GB300 NVL72 significantly boosts AI reasoning performance, offering a 10 times improvement in user responsiveness and five times better throughput per watt than the Hopper server. This translates to an increase of fifty times in reasoning model inference output, enabling faster, more complex AI models.

5. US lifts EDA software export restrictions to China

License requirements for design software sales in China were lifted this week as part of a trade deal between the US and China.

On July 2, the US Commerce Department told Synopsys (NASDAQ:SNPS), Cadence Design Systems (NASDAQ:CDNS) and Siemens (XETR:SIE), three of the world’s leading design software providers, that they would no longer need to seek government licenses to conduct business in China.

Official announcements from the companies confirmed they would be resuming business with Chinese counterparts, sending each of their stock prices up between 3 and 6 percent.

The US government restricted sales of electronic design automation (EDA) tools to China in late May as a response to China’s decision to limit shipments of essential rare earth minerals. Last week, the two countries reached a trade agreement that would re-allow shipments of EDA software after Beijing speeds up approvals of critical mineral exports to the US.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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