Magnificent 7 Weekly Briefing

August 28, 2026

Nvidia revenue doubled and Tesla debuted its Cybercab as Meta faced a multi-billion dollar settlement and Apple refreshed its AI hardware.

• Nvidia reported second-quarter revenue of $96.2 billion, representing 106% annual growth, and forecasted a 70% sales increase for the next fiscal year while reportedly pursuing multi-billion dollar acquisitions of Poolside and Hugging Face. ¹²³⁴⁵
• Meta agreed to a landmark settlement of up to $17.1 billion with 52 attorneys general to resolve allegations regarding social media addiction and teen safety, mandating new usage restrictions and parental controls on its platforms. ⁶⁷⁸⁹
• Tesla unveiled its autonomous Cybercab robotaxi with a target price under $30,000 for 2027 production and announced its AI5 inference chip to rival Nvidia's efficiency, though the company faced a massive vehicle recall in China. ^1011121314
• Google launched the Pixel 11 smartphone series and Watch 5 with integrated Gemini Intelligence and agreed to a $353 million settlement to end a long-running lawsuit brought by UK app developers. ¹⁵¹⁶¹⁷
• Amazon's AWS unit acquired the engineering team behind DuckDB to bolster its database capabilities and is reportedly developing Project Tetromino to fully automate its delivery stations using robotics and AI. ¹⁸¹⁹²⁰
• Apple introduced refreshed Mac Studio models powered by M5 Max and Ultra chips designed for local AI inference, while Microsoft transitioned its Dynamics 365 software to an always-on AI-driven update roadmap. ²¹²²²³
• Other notable developments include Nvidia pausing its AI partnership program due to antitrust concerns, while Meta continued to fight FTC monopoly charges and legal efforts to ban features like infinite scroll. ^2425262728

Sources

1. NVIDIA expects 70% sales jump next fiscal year, shares surge NewsBytes
2. Nvidia reports $96.2 billion Q2 fiscal 2027 revenue Nvidia
3. Hugging Face Buyout Makes Nvidia King of AI Bloomberg
4. NVIDIA strikes $6B poolside deal, invests $1B at $12B valuation NewsBytes
5. Nvidia shares jump 8.7%, add $442 billion to market cap after Q2 results Fortune India
6. Meta Just Removed a Major Risk From Its Stock. Now AI Spending Is the $145 Billion Question. Yahoo Finance
7. Meta announces a bipartisan agreement on teen safety standards Meta
8. What Does $17.1 Billion Mean for Meta? The New York Times
9. Meta agrees with 52 attorneys general to protect teen users Meta
10. Tesla doubles down on custom AI chips as Musk claims AI5 can beat NVIDIA on efficiency and cost DIGITIMES
11. Tesla Unveils Cybercab Robotaxi Under $30K Aiming for 2027 Production Webpronews
12. Tesla’s Robo-Taxi Expansion Takes a Leap Forward Barron's
13. Tesla recalls three million cars with new stickers Dagens PS
14. Why Tesla has been caught up in a massive car recall in China BBC
15. Google agrees to settle UK app developers' lawsuit for $353 million Reuters
16. Google introduces Gemini 3.5 Transcribe for precise voice interactions Google
17. Google launches new Pixel 11 phones and Watch 5 Google
18. Amazon Stock (AMZN) in Focus on News of DuckLabs Acquisition - TipRanks.com TipRanks
19. AWS acquires DuckLabs, the creator of DuckDB Amazon
20. AMZN Stock Climbs As Amazon Reportedly Plans Automation Initiative To Use AI And Robotics For Delivery Stations Yahoo Finance
21. Microsoft transitions Dynamics 365 updates to an always-on AI roadmap Microsoft
22. Apple introduces new Mac Studio with M5 Max and M5 Ultra Apple
23. Apple designs new desktops for local AI inference Ars Technica
24. NVIDIA pauses AI compute partnership program amid antitrust concerns NewsBytes
25. State AGs Are Trying to Ban Infinite Scroll and Public Likes on Meta Yahoo
26. Taiwan charges 9 over illegal AI server exports to China, including Nvidia and Super Micro staff AP News
27. Nvidia customers notified about AI-related price hikes above 15%, Bloomberg News reports Reuters
28. Meta Fights FTC Bid To Revive Monopoly Charges Yahoo Finance