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Tech Rally Lifts US Stocks to Weekly Gains
US markets ended the week higher, driven by a strong tech sector. Weekly gains totaled 2.86% for the Nasdaq, 1.88% for the S&P 500, and 1.03% for the Dow.
Apple was the standout, jumping 13% in its best week since July 2020 after pledging $600 billion in US investments over four years, including $2.5 billion for Corning Inc., to qualify for tariff exemptions under President Donald Trump’s trade policies.
Also, investors viewed Trump’s announcement of a 100% tariff on imported semiconductors, with exemptions for domestic manufacturing, as less aggressive than feared. Markets also digested the launch of “reciprocal” tariffs on several countries, including 41% duties on Syria and 40% on Laos and Myanmar. Analysts noted that stocks tumbled in April after Trump’s sweeping tariff proposal, pushing the S&P 500 into correction territory, but recent resilience suggests expectations that the administration may scale back its most extreme measures.
Still, the balance between market reaction and policy decisions remains uncertain.
Stock market closing data for the week of Aug 4th to Aug 8th, 2025
News Summaries
OpenAI’s GPT-5: Faster Reasoning, Stronger Coding, Wider Rollout
OpenAI has introduced GPT-5, a major upgrade to its AI models, promising sharper coding, creative writing, and complex reasoning abilities. Chief Executive Officer Sam Altman described it as the first model that feels like talking to an expert in any subject.
The rollout begins for all free ChatGPT users and many paid subscribers, with enterprise and education customers gaining access next week.
GPT-5 is faster, makes fewer errors, and can decide when to spend more time reasoning. Users can also try four preset chat styles, such as Cynic, Robot, Listener, and Nerd.
OpenAI is targeting software developers, showcasing the model’s ability to rapidly build and debug applications. Early testers, including Anysphere and Lovable, report improved code quality.
Facing competition from Alphabet, Anthropic, xAI, DeepSeek, and Meta, OpenAI now serves nearly 700 million weekly ChatGPT users and 5 million paying businesses and is now also exploring a secondary sale that could value it at $500 billion.
Instacart’s Order Growth Hits Two-Year High, Beats Earnings Forecasts
Instacart (Maplebear Inc.) posted its fastest order growth since 2022 for a second consecutive quarter, with April–June orders up 17% to 82.7 million, ahead of the 80.8 million forecast.
The company credited lower basket sizes for free delivery, its Uber Eats partnership, and grocers like Heritage Grocers Group, Lowe’s Cos., and Schnucks removing markups to match in-store prices.
Delivery transaction revenue hit $659 million, and total revenue was $914 million, both above expectations. For the current quarter, Instacart projects $9 to $9.15 billion in gross transaction value and $260–$270 million in adjusted EBITDA. Shares gained 3.7% post-results.
Its higher-margin enterprise software and advertising arm now makes up about 28% of revenue, with 40 new white-label retailer sites launched this year.
This model is similar to Blinkit and Zepto, which also blend grocery delivery with retailer partnerships, focus on affordability levers, and are expanding into higher-margin services like advertising and white-label tech for stores.
Uber Misses Rideshare Target but Lifts Forecast and Buyback
Uber Technologies Inc. (UBER) reported second-quarter gross bookings of $46.8 billion, slightly above expectations, driven mainly by its delivery business.
Rideshare bookings came in at $23.8 billion, just under the $23.9 billion estimate, pulling shares down 3.5% in early reaction despite a 47% year-to-date gain.
Delivery strength came from increased food, grocery, and retail orders in multiple countries, supported by new merchants and the acquisition of Turkey’s Trendyol Go. Uber’s Uber One membership rose 60% year-on-year to 36 million, now accounting for 40% of gross bookings. The company also launched cheaper pooled rides and fixed-price passes in the US to improve affordability.
For Q3, Uber forecasts $48.25–$49.75 billion in gross bookings and record adjusted EBITDA of $2.19–$2.29 billion, both above estimates. A new $20 billion share buyback was announced.
Uber is also expanding in autonomous vehicles through 20 partnerships, early robotaxi pilots, and investments in fleet and facility infrastructure, aiming to scale once economics are proven.
From the World of Crypto
Ripple Buys Stablecoin Platform Rail for $200 Million
Ripple has agreed to acquire Rail, a stablecoin infrastructure provider, for $200 million to strengthen its position in the growing stablecoin market.
The San Francisco-based company said the deal supports its long-term stablecoin ambitions and follows new US legislation, the Genius Act, which regulates stablecoins and encourages greater involvement from traditional financial institutions.
The $279 billion stablecoin market is dominated by Tether and Circle, with Ripple offering its own token, RLUSD. Stablecoins are pegged to sovereign currencies like the US dollar and are often used for faster, lower-cost transactions, including cross-border payments.
Founded in 2021 and backed by Galaxy Digital, Rail brings banking partnerships and compliance tools for institutional clients. Ripple President Monica Long said the deal highlights its commitment to enabling customers to move money globally with ease. The acquisition is expected to close by year-end and follows Ripple’s $1.25 billion purchase of crypto prime broker Hidden Road in April.
Key headlines of the week
US Pressure on Russian Oil Flows Puts India in Focus | Washington’s push to curb Russian crude shipments to India may leave up to 1.7 million barrels a day seeking new buyers. China is the likeliest alternative but may be limited by refinery capacity and economic slowdown. If displaced barrels cannot find takers, global oil prices could jump $10–$20 per barrel, according to Capital Economics.
TSMC July Sales Jump 26% on AI Demand | Taiwan Semiconductor Manufacturing Co. posted a 26% year-on-year sales increase in July to NT$323.2 billion, meeting expectations. The gain underscores growing AI-driven chip demand, with TSMC and GlobalWafers set to benefit from US semiconductor tariffs after investing heavily in domestic production.
Accel Leads $2.3B Valuation Round for AI Startup n8n | Accel is leading a funding round for German AI automation platform n8n, valuing the company at $2.3 billion. The Berlin-based startup has surpassed $40 million in annual recurring revenue, offering software that automates business tasks using AI agents.
Apple Boosts US Investment Pledge to $600B | Apple will invest $600 billion in the US over four years, up from $500 billion, with $2.5 billion earmarked for Corning Inc. The plan includes semiconductor projects with GlobalWafers and Texas Instruments and is expected to qualify for partial tariff relief under Trump’s policy favoring domestic investment.
