Vimeo unveils a suite of AI tools to transform professional video production, aiming to democratize video creation. The tools include a script generator, teleprompter, and automated video editor, available under Vimeo's Standard Plan at $20/month. The company plans further AI integrations for future innovation.

Intel plans to invest over 30 billion euros to build two semiconductor factories in Magdeburg, Europe, marking Germany's largest ever foreign investment. The German government has provided nearly 10 billion euros in subsidies. This step boosts Intel's global expansion and empowers Germany to compete technologically with world-leading nations. The move will create thousands of jobs and is part of a broader strategy to reduce EU's dependence on U.S. and Asian chip supply.

The previous week saw significant movements in mergers and acquisitions, with the FTC halting Microsoft's Activision Blizzard acquisition, Broadcom likely to receive EU approval for its VMware purchase, Amazon's iRobot takeover getting UK CMA's nod, NASDAQ set to acquire Adenza, and a merger agreement between Patterson-UTI Energy and NexTier.

NVIDIA unveils Avatar Cloud Engine (ACE) to revolutionize game development, while Amazon's acquisition of iRobot receives UK regulator approval. Adobe reports strong Q2 earnings, focusing on generative AI, and Intel expands chip manufacturing investments in Poland and Israel. Eve partners with Blade Air Mobility for integrating its flying car into European routes.

Amid hawkish moves by the Federal Reserve and ECB, the U.S. stock market closes at 14-month highs. Optimism about AI, robust economic data, and potential end to Fed rate hikes contribute to the S&P 500 and Nasdaq Composite's record performance.

The recent market rally has seen a surge in EV stocks, with companies like Tesla, Toyota, XPeng, Nio, Nikola, Fisker, and BYD making significant strides. From overcoming production challenges to exploring new partnerships, these companies are not only riding the market wave but also shaping the future of the EV industry.