Oil prices slid about 3% after some vessels sailed through the critical Strait of Hormuz, even as U.S. allies rebuffed President Donald Trump’s call for help in unblocking the strait, and as the head of the IEA suggested more reserves could be released to stem the rising costs caused by the Iran war.
Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin, continued aggressively stacking Bitcoin last week, bringing the company’s total reserves to above 760,000 BTC. Strategy acquired 22,337 Bitcoin for $1.57 billion last week, according to a US SEC filing.
Dell’s total workforce declined by about 10%, or 11,000 employees, in fiscal 2026, a sign that the AI server maker is limiting external hiring to reduce costs. The company spent $569 million in severance payments in this period, compared with $693 million a year ago.
Gold prices slipped for a second consecutive weekly decline, pressured by a stronger dollar and inflation worries driven by the Iran war, which weighed on rate‑cut expectations.
Tesla CEO Elon Musk said that the company’s Terafab project to make artificial intelligence chips will launch in seven days. Musk had said last year that Tesla probably will have to build “a gigantic chip fab” to make artificial intelligence chips to power its autonomous ambitions.
The market capitalization of the USDC stablecoin is approaching a record high near $80 billion as demand surges in the Middle East, with analysts linking the spike to capital flight from the United Arab Emirates. USDC’s circulating supply has risen to roughly $79.2 billion, marking a new all-time high for the dollar-pegged stablecoin.
