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Leopold Aschenbrenner's fund was forced to sell most of its $16 billion stock portfolio to Citadel.
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The tech giant's free cash flow crashed from $8.55 billion to $784 million, and next year's AI bill could be even bigger.
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AWS "finally saw the long-awaited growth inflection," an analyst noted.
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Wall Street ends higher as Amazon soothes AI jitters ReutersStock market today: Dow, S&P 500, Nasdaq rise to cap volatile July as Big Tech AI spending ramps up Yahoo FinanceUS stocks rise to finish a wild July as Amazon soars, Apple sinks and inflation worries worsen Dallas NewsAmazon and Apple Deliver the Drama to Close a Turbulent Month WSJ
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S&P 500 closes higher Friday as Amazon surges; Dow posts fourth straight winning month: Live updates CNBCAmazon and Apple Deliver the Drama to Close a Turbulent Month WSJStock market today: Dow, S&P 500, Nasdaq rise to cap volatile July as Big Tech AI spending ramps up Yahoo FinanceWall Street gains on tech earnings; bond yields hit multi-year highs Reuters
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Meta's spending on AI is ramping, and investors want proof that the company can make serious money in areas other than advertising.
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Jersey Mike's priced its initial public offering at $23 per share.
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Retailer Reformation made its IPO on the New York Stock Exchange on Thursday under the ticker symbol "REF."
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Scale of losses in recent weeks sparks growing risk aversion on Wall Street
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