Nasdaq Composite, NVIDIA and Dell Technologies performance, August 26 to 29, 2025.

Chart via Google Finance.

However, it wasn’t enough to reassure the public, and NVIDIA’s share price fell over 4 percent between Wednesday (August 27) and Friday (August 29). As investors analyzed new inflation data that indicates tariffs are impacting prices, other AI-related stocks saw losses too, pulling the S&P 500 (INDEXSP:.INX) from its recent record highs.

With that, here’s a look at some of the other drivers that shaped the tech sector this week.

1. Intel warns of adverse reactions to government equity stake

In a US Securities and Exchange Commission Form 8-K filing dated August 22, Intel (NASDAQ:INTC) warns that the federal government’s 10 percent stake in its business could cause “adverse reactions,” including litigation from investors, employees, customers, suppliers, partners and foreign governments.

The company also discloses a clause in the agreement that would raise the government’s stake to 15 percent if the company fails to meet set manufacturing thresholds.

Moreover, the filing states that, if this agreement prompts other government bodies to seek similar stakes, the varied agendas could diminish the voting power of other shareholders.

The comments come after the White House announced last week that it would take a 10 percent stake in the company in a deal worth around US$8.9 billion. On Monday, (August 25), President Donald Trump suggested he might pursue similar agreements with other American companies, posting on Truth Social:

“I will also help those companies that make such lucrative deals with the United States. I love seeing their stock price go up, making the USA RICHER, AND RICHER.”

Meanwhile, White House economic advisor Kevin Hassett told CNBC that the deal is part of a broader strategy to create a sovereign wealth fund that may include additional companies.

Later, during an interview on CNBC’s Squawk Box on Tuesday, Secretary of Commerce Howard Lutnick said Pentagon officials are considering acquiring equity stakes in leading defense contractors such as Lockheed Martin (NYSE:LMT).

2. Apple sets date to reveal fall product lineup

On Tuesday, Apple (NASDAQ:AAPL) invited media members and analysts to its next launch event, which is scheduled for September 9 at 10:00 a.m. PST.

The event, which will be live streamed from the iPhone maker’s campus, is expected to be the venue for the introduction of the new iPhone 17 lineup and updated Apple Watch models.

The new iPhone series is rumored to include four models:

• iPhone 17
• iPhone 17 Pro
• iPhone 17 Pro Max
• A new iPhone 17 Air that will reportedly replace the iPhone 16 Plus. This new model is rumored to be exceptionally thin, potentially as slim as 5.5 millimeters, a major new design direction for Apple.

The new iPhones are also expected to feature a new ‘Liquid Glass’-based interface as part of iOS 26.

According to Bloomberg journalist Mark Gurman, who has a reputation for being one of the most accurate and prolific sources of leaks about Apple’s future products, the company is planning three years of major iPhone redesigns, starting with the September release. Apple’s first foldable iPhone, code-named V68, is slated to arrive in 2026, according to Gurman. Apple’s 2027 ‘iPhone 20’ will feature curved glass edges to complement the upcoming Liquid Glass-based interface for iOS and other operating systems.

3. IBM, AMD to partner on quantum supercomputer

IBM (NYSE:IBM) and Advanced Micro Devices (AMD) (NASDAQ:AMD) said on Tuesday that they plan to collaborate to develop quantum-centric supercomputing.

The two companies, which have each fundamentally advanced the frontiers of quantum hardware and software, AI accelerators, CPUs and GPUs, said they will work together to “develop scalable, open-source platforms that could redefine the future of computing” by combining their strengths in quantum and high-performance computing.

“Quantum computing will simulate the natural world and represent information in an entirely new way,” said Arvind Krishna, chairman and CEO of IBM, adding that the firms’ collaborative efforts will “build a powerful hybrid model that pushes past the limits of traditional computing.”

“We see tremendous opportunities to accelerate discovery and innovation,” said Dr. Lisa Su, chair and CEO of AMD.

In an interview with Axios, Jay Gambetta, IBM’s quantum vice president, said he aims to get fault-tolerant quantum computers, a set of techniques and architectural designs that ensure a computation can proceed accurately even in the presence of errors, “by the end of this decade.”

4. Cost of Meta data center to exceed original estimate

During a cabinet meeting on Tuesday, Trump told reporters that Meta Platforms’ (NASDAQ:META) Louisiana data center will cost the company around US$50 billion to build.

That’s over 70 percent of the company’s projected CAPEX spending in its latest quarterly report.

“When they said US$50 billion for a plant, I said, ‘What the hell kind of plant is that?’” said Trump, revealing a photo of the proposed data center, Hyperion, superimposed over the island of Manhattan.

“When you look at this, you understand why it’s US$50 billion,” he added.

When the data center was announced, officials in Louisiana estimated the project would cost around US$10 billion. Meta has not confirmed this new estimate and declined to comment on Trump’s remarks.

5. Fusion developer raises US$863 million for energy development

On Thursday (August 28), Commonwealth Fusion Systems, a leading nuclear fusion developer in the US, announced it has secured US$863 million in an oversubscribed Series B2 funding round.

Investors including Morgan Stanley (NYSE:MS) and NVIDIA contributed to this capital raise, which will facilitate the completion of Commonwealth’s Spac fusion demonstration machine, as well as the commencement of construction on a new ARC power plant in Virginia.

“Investors recognize that CFS is making fusion power a reality. They see that we are executing and delivering on our objectives,” said the company’s CEO and co-founder, Bob Mumgaard. “This funding recognizes CFS’ leadership role in developing a new technology that promises to be a reliable source of clean, almost limitless energy — and will enable investors to have the opportunity to capitalize on the birth of a new global industry.”

Broader uranium market challenges

Cameco’s production cut is the second output reduction the sector has seen in as many weeks.

On August 22, Kazatomprom, Kazakhstan’s state-owned uranium producer, reported plans to lower output in 2026, saying that despite firm long-term prices, market conditions don’t support a return to full capacity.

In a corporate update, the company said its production will be about 10 percent lower compared to earlier targets, dropping from 32,777 metric tons of U3O8 to 29,697 metric tons. The reduction, equal to roughly 8 million pounds, or 5 percent of global supply, will largely stem from changes at its Budenovskoye joint venture.

After spiking to triple-digit levels unseen in more than a decade in early 2024, the spot price has been under pressure, falling as low as US$63.36 in March of this year. However, prices have steadily grown since then, reaching a second quarter high of US$79.01 on June 30 and currently holding at the US$75 mark. Kazatomprom notes that while the spot price remains volatile, the long-term uranium price has held steady at around US$80.

The company plans to exercise its option to operate within a 20 percent deviation of its 2026 subsoil use production levels, with formal guidance to come later. The sector major also also reported stable sulfuric acid supply for 2026, easing concerns after last year’s shortages forced a sharp output downgrade. However, its new acid plant won’t be ready until at least 2026, and higher mineral extraction taxes are expected to weigh on costs.

The updates came alongside half-year results showing that net profit was down 54 percent to 263.2 billion tenge (US$489.5 million), while revenue was off 6 percent at 660.2 billion tenge, largely on weaker sales volumes.

Despite lower near-term output, Kazatomprom said it remains committed to exploration in order to replenish its reserves and maintain its dominance as the world’s top uranium supplier.

Beyond market headwinds, the company highlighted Kazakhstan’s nuclear ambitions, with proposals for three domestic reactors that would require about 1.04 million pounds of uranium each year.

Uranium supply shortage unavoidable?

With tightening margins between uranium demand and global mine supply, these latest announcements are likely to impact market sentiment and could push prices higher.

Taking to X, formerly known as Twitter, Uranium Insider’s Justin Huhn posted an ominous message:

You don’t have to know exactly what will disrupt this market, only that the conditions are there for disruption

— Uranium Insider (@uraniuminsider) August 28, 2025

According to the World Nuclear Association, mine supply currently accounts for 90 percent of uranium demand, with the other 10 percent being fulfilled through secondary supply sources.

However, secondary supply is declining and mine supply has not grown to account for the discrepancy. This is likely to be further compounded by the addition of 70 new nuclear reactors that are currently in the construction phase.

Coupled with heightening energy demands from the artificial intelligence sector, analysts at FocusEconomics are projecting a higher spot price environment moving forward.

“The Consensus among our panelists is for uranium prices to remain well above the levels that prevailed in the 2010s for the rest of this decade, with prices forecast to hover between US$65 and US$80 per pound,” the firm wrote in an email. “That said, panelists don’t see a return to the highs of 2024, a period when the spot price likely got ahead of underlying market fundamentals due to investor exuberance.”

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$108,747, a 3.3 percent decrease in 24 hours. Its lowest valuation of the day was US$108,198 and its highest price on Friday was US$112,652.

Bitcoin price performance, August 29, 2025.

Chart via TradingView

Bitcoin’s slip below the US$110,000 threshold stoked fears of a broader crypto market correction on Friday as liquidations doubled, the Federal Reserve’s preferred inflation gauge showed persistent price pressures, and Bitcoin flashed a potential risk pattern. Analysts warned the token could be edging toward bear market territory.

Adding to volatility, a long-dormant Bitcoin whale that resurfaced this month—after buying US$2.5 billion in Ethereum—shifted another US$1.1 billion on Friday.

Ether (ETH) was priced at US$4,335.28, down by 3.2 percent over the past 24 hours. Its highest was US$4,511.09 and its lowest was US$4,279.96.

Altcoin price update

• Solana (SOL) was priced at US$204.82, down by 2.4 percent. Its lowest valuation on Friday was US$203.74, and its highest valuation was US$217.66.

• XRP was trading for US$2.94, down by 4.4 percent in the past 24 hours, and at its lowest valuation of the day. Its highest valuation on Wednesday was US$2.98.

• SUI (Sui) was trading for US$3.30, down by 4.3 percent in the past 24 hours. Its lowest valuation of the day was US$3.29, and its highest level of the day was US$3.50.

• Cardano (ADA) was priced at US$0.8201, down by 3.8 percent. Its lowest valuation for Friday was US$0.817, and its highest valuation was US$0.8618.

Today’s crypto news to know

Stablecoins cross US$283 billion threshold record

The stablecoin market reached a new milestone on Friday as total supply climbing to $282.8 billion, according to data from DefiLlama.

That marks a 128 percent increase since January, driven by stronger demand for dollar-pegged tokens and fresh regulatory clarity in the US.

The surge also follows passage of the Genius Act, which sets out federal guidelines for stablecoin issuers and has been billed as a growth catalyst within the sector.

Analysts say stablecoins now serve as a “distribution channel” for US dollars, powering cross-border payments and on-chain settlement systems.

Eric Trump hails US–China leadership in Bitcoin

Speaking at the BTC Asia conference in Hong Kong, Eric Trump praised China’s influence on the digital asset industry and said the US and Beijing were “leading the way” in shaping Bitcoin’s future.

He credited the Middle East as another fast-moving hub for crypto adoption, while stressing Bitcoin’s ability to unite people across borders and cultures.

The younger Trump also added that his father’s administration had accelerated digital asset policy faster in seven months than the prior decade managed. He described America as “winning the digital revolution” with support from Wall Street institutions, sovereign wealth funds, and retirement investors.

Asked whether Bitcoin would be on the agenda in an upcoming US–China trade meeting, he suggested broader topics would dominate but said he “would certainly love to talk about bitcoin.”

Trump-Linked miner American Bitcoin targets September Nasdaq listing

American Bitcoin, a mining company backed by Eric Trump and Donald Trump Jr., is preparing to list on Nasdaq in September following its merger with Gryphon Digital Mining, Reuters reported.

The firm is majority-owned by Hut 8, which controls 80 percent of the business, while the Trump brothers are expected to collectively hold about 19 percent. The company has already raised $220 million to expand its operations and accumulate Bitcoin, adding 215 BTC to its balance sheet as of June.

With Bitcoin trading near US$112,000 this week, that stash is valued at roughly US$24 million.

CEO Asher Genoot said American Bitcoin aims to become one of the largest US mining firms, with backing from high-profile investors including Gemini founders Tyler and Cameron Winklevoss.

Hut 8’s own stock has rallied 29 percent this year. If listed today, American Bitcoin would rank among the top 30 public companies holding Bitcoin in the US.

Bullet briefing — US drafts new critical minerals list, uranium miners make cuts

US drafts new critical minerals list

The US Department of the Interior has released a new draft critical minerals list, and the recommended additions include silver, as well as potash, silicon, copper, rhenium and lead.

Silver’s potential inclusion is turning heads in the mining community as market participants assess the potential impact for the metal. The critical minerals list is designed to guide federal strategy, investment and permitting deals as the US works to lock down supply of key commodities, meaning that silver-focused companies could see benefits such as tax breaks and faster timelines.

In total, the draft list has 54 minerals, with 50 included based on results from an economic effects assessment. Three were selected on the back of a qualitative evaluation, and zirconium is there because of the potential for a single point of failure in the US supply chain.

The list was set up after a 2017 executive order from Trump and is updated every three years.

It’s worth noting that silver and the other recommended additions aren’t officially critical minerals yet — the draft critical minerals list was posted for public comment on Tuesday (August 26), and feedback will be accepted for 30 days. It’s also worth noting that two commodities may be stripped of their critical mineral status — arsenic and tellurium have been recommended for removal.

Critical minerals lists vary from country to country based on individual needs, although in many cases they have similarities. In January 2024, a group of silver industry participants, including many major miners, sent a letter to Canada’s energy and natural resources minister proposing that silver be included in the nation’s critical minerals list; to date, it has not been added.

Uranium miners cut production guidance

Sweden’s government has proposed the removal of the country’s ban on uranium mining as it looks to reduce its reliance on imports of the energy fuel.

Uranium mining has been banned in Sweden since 2018, but the country has six operating reactors and generates around one-third of its power from nuclear energy.

The ban is set to be removed on January 1, 2026, and comes as nations increasingly look to nuclear power to fill their energy needs. It also comes amid supply questions — although demand is rising and prices are out of a years-long slump, miners have been slow to ramp back up post-Fukushima.

Just last week, Kazatomprom said it was lowering its 2026 production target compared to earlier estimates, cutting about 8 million pounds. Although the company sees stability in long-term uranium prices and strong sector fundamentals, it isn’t prepared to return to 100 percent levels.

Cameco (TSX:CCO,NYSE:CCJ) made a similar statement this week, saying its 2025 output will be impacted by delays in transitioning the Saskatchewan-based McArthur River mine to new mining areas. Production will be 4 million to 5 million pounds lower, although there is a chance for Cigar Lake to partially offset that loss.