Good morning, Briefers!

OpenAI is putting its new AI model time out.

Why? Because it keeps trying to hack people on its own…

It’s not alone - major AI companies like Anthropic and China’s Moonshot have had AI models go rogue in recent weeks.

• Searchs on Google for “Sam Altman singularity” jumped over 5,000% two weeks ago.

The singularity is basically the moment when AI becomes smarter than humans.

STOCKS

• S&P: 7,753 (-0.06%)
• DOW: 53,975 (-0.11%)
• NASDAQ: 26,605 (-0.32%)

*Numbers as of market close on August 10th

$500B Question

Nvidia (NVDA -2.86%) is teaming up with big investors to pour $500B into AI infrastructure.

BlackRock (BLK -0.44%), Blackstone (BX +3.30%), and Apollo (APO +3.59%) are loaning it cash for the future projects.

• It could use the cash to build anything from data centers to chips.

Nvidia is the most valuable public company in the world - and joins other tech giants who are also spending billions on AI buildouts.

Selling Shares

Speaking of getting cash - another tech giant is raising money for AI, but in a different way.

• Intel (INTC -4.06%) is selling new stock to fund its AI chip factories.

However, the chipmaker slid 4% after announcing a $15B share sale.

The reason? Investors worry the company needs cash faster than it can turn a profit.

GLOBAL SCOOP

• STOXX 600 (E.U.): +0.03%
• CSI 300 (CHN): +0.16%
• FTSE 100 (U.K.): -0.35%

*Numbers as of 5:00 PM ET on August 10th

No Deal (Yet)

The U.S.-Iran war is still going on, despite Treasury Secretary Scott Bessent saying a deal was coming last week.

Both WTI and Brent crude oil prices jumped more than 5% as a result - with prices now well over $80/barrel.

• The spike comes after President Trump said the U.S. is only "semi-negotiating," reversing his talk of a close deal.

Robot IPO Frenzy

China's viral robot maker Unitree just went public in China, and regular investors couldn't get enough shares.

Retail investors asked for 5,526 times more shares than were available.

• Many investors in China are betting humanoid robots are the next big thing.

Related: Nvidia has spent billions on physical AI in recent years - basically taking AI and using that as the brain for a robot.

ECONOMY

• US10YEAR: 4.70% (+0.04%)
• GOLD: $4,448 (+1.11%)
• BRENT CRUDE: $87.87 (+5.17%)

*Numbers as of 4:00 PM ET on August 10th

Running Low

America's emergency oil stash just hit a four-decade low.

The reserve fell to 298.7 million barrels.

• Some experts say it could shrink to 243 million once this release winds down.

What’s going on? The government tapped it after Iran blocked a key oil shipping route to keep gas prices stable in the U.S.

Married To Debt

Getting married soon? Well if you have student loans, you may need to hand over some extra cash…

Getting married could soon mean much bigger student loan payments under the new Repayment Assistance Plan.

• In one example, a borrower's monthly payment jumped from $146 to $730 after tying the knot.

That could put more pressure on couples and lead to fewer people paying over time.

Reno In The Sun Belt

Some homeowners may be underwater, but others are throwing thousands of dollars at renovations.

But the money is piling up in just a few states.

California, Texas, and Florida account for more than 20% of all U.S. remodeling activity

More renovations could = pricier homes in some areas, while other areas still see prices drop.

CRYPTO

• BTC: $64,043 (-1.17%)
• ETH: $1,875 (-1.72%)
• XRP: $1.02 (-0.90%)

*Numbers as of 4:00 PM ET on August 10th

Hack Moves The Needle

A crypto wallet hack just made Bitcoin ETFs more popular.

• $850M poured into those funds last week.

Breakdown. Cold wallets are supposed to be the safest way to hold crypto, so investors are shifting into regulated products.

But a misplaced wallet key landed online - leading to millions of dollars in crypto stolen.

Crypto For Cash

Strategy (MSTR -2.86%) is selling a little Bitcoin and stock to build up its cash cushion.

Strategy boosted its cash reserve to $4.65B.

• It sold $108.6M in Bitcoin to help get there.