Magnificent 7 Weekly Briefing

August 14, 2026

Nvidia launched a $500B AI funding plan, Google debuted the Pixel 11, and major tech firms lost a key appeal in social media addiction lawsuits.

• Nvidia partnered with six major financial institutions, including BlackRock and Goldman Sachs, to launch a $500 billion financing initiative designed to fund global AI data center infrastructure. ¹²³⁴⁵⁶
• Google unveiled its Pixel 11 smartphone lineup featuring deeper integration of its Gemini AI, though reports indicate the device carries a higher price tag despite fewer hardware changes. ⁷⁸⁹¹⁰
• Apple faced multiple legal developments as the U.S. Supreme Court issued a brief stay in its App Store dispute with Epic Games, while reports emerged that the company has developed a specific AI model for the Chinese market. ^111213141516
• Amazon expanded its infrastructure footprint with a new data center campus in Texas and the launch of a paid robotaxi service in Las Vegas through its autonomous vehicle subsidiary, Zoox. ^17181920
• Tesla saw a three-year labor strike in Sweden come to an end, while CEO Elon Musk unveiled plans for 'Terafab,' a massive 100-million-square-foot joint factory project between Tesla and SpaceX in Texas. ²¹²²²³
• A federal appeals court ruled that thousands of lawsuits against Meta, Google, TikTok, and Snap regarding social media addiction and youth mental health can proceed, rejecting the companies' attempts to block the litigation. ^2425262728
• Other notable developments include Microsoft planning to unveil its new Maia 300 AI chip in September, Nvidia considering a $2 billion investment in ASPEED Technology, and Apple reportedly canceling an all-glass iPhone model due to production challenges. ^29303132

Sources

1. Nvidia seeks to ease credit risk concerns over US$500B AI financing plan DIGITIMES
2. Nvidia is organising major investments in AI Il Foglio
3. Nvidia Calms Credit Markets With AI Capital Consortium Bloomberg
4. Six finance giants back Nvidia's $500bn plan to fund the AI buildout TNW
5. Nvidia announces AI infrastructure financing partnerships Nvidia
6. Nvidia partners with Wall Street giants to raise $500 billion for AI buildout Reuters
7. Google announces Pixel 11 lineup with helpful updates Google
8. Google's Pixel 11 lineup offers fewer hardware changes, but much more Gemini TechCrunch
9. AT&T will give you the new Google Pixel 11 Pro for free with trade-in - any year, any condition ZDNet
10. Google's Gemini app surpasses 1 billion monthly active users Google
11. Exclusive-Apple trains its own AI model for China market with Alibaba s support, sources say Yahoo Finance
12. Apple wants up to 15% cut on off-App Store purchases as Epic Games battle enters new phase Firstpost
13. Apple Faces Antitrust Case Suspension as Supreme Court Evaluates GuruFocus
14. Apple Gets Brief Pause In App Store Case From High Court - Law360 Law360
15. Supreme Court Lets Apple Delay App Store Fee Fight for 24 Hours MacRumors
16. Apple App Store Commission-Rate Proceedings Can Move Forward Bloomberg
17. Amazon redesigns e-commerce cloud setup amid power crunch Business Insider
18. Amazon s Zoox Launches Paid Robotaxi Service In Las Vegas and Says We Need To Be Regulated — The Smoke Incident That... Yahoo Finance
19. Amazon announces planned data center campus in Pecos County, Texas Amazon
20. Amazon reports AWS growth, Leo satellites, and silicon Amazon
21. Tesla Strike Called Off by Swedish Labor Union After Three Years Bloomberg
22. Key facts: Tesla (TSLA) $1T Musk Pay; Terafab Ground; NHTSA Probe — TradingView News TradingView
23. Elon Musk unveils Terafab, a 100-million-square-foot factory in Texas Fast Company
24. Court of Appeals rejects tech giants' attempt to stop lawsuits Dagens PS
25. Jury Selection Begins in Meta Youth Harms Trial in California Federal Court U.S. News & World Report
26. Ninth Circuit Dismisses Meta, TikTok Appeals in Social Media Addiction Cases TechRepublic
27. Meta, Google, TikTok, and Snap will have to face thousands of social media addiction lawsuits. The Verge
28. Meta Loses Appeal Days Before Social Media Trial Begins - Law360 Law360
29. NVIDIA Plans $2 Billion Investment in ASPEED Technology (NVDA) GuruFocus
30. Apple (AAPL) Cancels All Glass iPhone Ahead Of CEO Transition Yahoo Finance
31. Microsoft plans to unveil new Maia 300 AI chip in September, The Information reports Reuters
32. Apple Reportedly Cancels All-Glass 20th Anniversary iPhone Due to Production Defect Issues Android Headlines