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Fed Chair Kevin Warsh's hawkish Jackson Hole speech on August 28 drove the 2-year Treasury yield up 12 bps to 4.31%, and market odds of a September rate hike surged to 55.7%.
Nvidia reported Q2 FY2027 revenue of $96.2 billion, up 106% year-over-year, beating estimates. The company guided Q3 revenue to $108 billion, and stock rose 8.7% after earnings.
XDOF, a startup that hires teleoperators globally to collect robot training data, has raised $70 million from a16z, Thrive Capital, and others. It serves 20 customers including unnamed frontier AI labs.
The Federal Reserve held rates steady but nearly half of policymakers support a hike later this year. The S&P 500 fell 70 points (0.9%) to 7,441.
XDOF, a startup backed by Thrive Capital and a16z, plans to hire teleoperators globally to collect data for physical AI. The company has 20 customers including frontier AI labs.
Kevin Warsh chairs his first Fed meeting amid shifting sentiment toward rate hikes. Inflation at 3.8% pressures the Fed to reconsider its stance.