The Rundown Powell Hints at Rate Cut, Meta Signs $10B Cloud Deal with Google
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Aug 22, 2025 Jerome Powell hints at a potential interest rate cut, stirring the markets and raising questions about economic stability. In the tech sector, Meta clinches a $10 billion cloud deal with Google, while NVIDIA faces hurdles with the Chinese government over AI chips. Zoom showcases strong growth in AI and earnings, but Cracker Barrel's controversial logo redesign sparks backlash. Plus, insights into Apple's streaming subscription updates and the latest on Formula 1 content keep listeners engaged.
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Powell Hints At Imminent Rate Cut
- Jerome Powell signaled the Fed may cut rates soon, boosting markets immediately.
- The speech emphasized Fed independence amid political pressure from the White House.
Meta Becomes Google's Biggest Cloud Customer
- Meta signed a $10+ billion cloud deal with Google for servers, storage, and Nvidia chips.
- The pact shows Meta is prioritizing massive AI compute while Google wins a landmark cloud customer.
NVIDIA Faces Geopolitical Chip Headache
- China warned firms to stop buying NVIDIA H20 chips over alleged backdoor concerns, creating fresh export tension.
- NVIDIA faces policy shifts from both the U.S. and China that could materially affect its China revenue share.