Galan Lithium (GLN:AU) has announced Successful Due Diligence Ends – $20m Placement To Proceed
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Mount Hope Mining Limited (ASX: “MHM” or the “Company”) is pleased to announce its maiden drill program has commenced at its 100%-owned Mt Hope Project in New South Wales (Figure 1).
Highlights:
- Inaugural drill program comprises ~4,800m of Reverse Circulation (“RC”) and Air Core (“AC”) drilling across four priority targets.
- Drill campaign includes high-confidence infill and extensional drilling at Mt Solitary, which boasts an Exploration Target range of 1.32 to 1.87Mt of 1.0 to 1.35 g/t Au for 42.5 to 81.4 Koz (Table 1).
- The new Blue Heeler prospect, hosting coincident MLTEM conductors, is located approximately 200m west of historical drill hole GCS-1, which included a historical intercept of 31m @ 0.42% Zn, 0.26% Pb, 117 ppm Cu and 4.8 ppm Ag from 56m
- The Mt Hope East and Black Hill prospects, hosting coincident geochemical and geophysical anomalies, have never been tested by drilling.
The inaugural drilling campaign will test four priority targets for a total of ~4,800m of Reverse Circulation (RC) and Air Core (AC) drilling, including the recently added Blue Heeler target (see ASX announcement, 15 July 2025 &22 August 2025).
Mount Hope Mining Managing Director & CEO Fergus Kiley commented:
“Mount Hope Mining is excited to commence its maiden drill program at the Mt Hope Project – a significant milestone in our journey towards unlocking the potential of the southern Cobar Basin.
“Each priority prospect represents a high conviction drill target, backed by high-quality geological science, and we look forward to exploring these areas further.
“We believe these four priority areas represent a good opportunity to create shareholder value via true greenfield exploration success or by delineating valuable ounces for future development.
“We look forward to keeping shareholders updated with strong news flow throughout the remainder of Q3 and into Q4 with the results from the exploration drilling, along with the metallurgical test work for Mt Solitary, and with our other early-stage exploration programs.”
Mt Solitary Exploration Target
Table 1: Mt Solitary Exploration Target2
The potential quantity and grade of the Exploration Target are conceptual in nature. As such, there has been insufficient exploration to estimate a Mineral Resource, and it is uncertain whether further exploration will result in a Mineral Resource. The Exploration Target has been prepared by the JORC Code 2012.
Maiden drilling campaign at the Mount Hope Project
The inaugural Mt Hope maiden drill program has commenced drilling, starting at the Mt Solitary prospect to convert the existing Gold Exploration Target (Table 1) to a JORC (2012) Mineral Resource Estimate (MRE).
The initial phase 1 RC program at Mt Solitary will consist of ~1,500m (Figure 2). The drill rig will then mobilise to test the greenfield polymetallic drill targets at Blue Heeler and Black Hill before finishing the program at Mt Hope East.
The Company has engaged ALS Laboratories in Orange, NSW, for analytical work. Samples from the maiden drilling campaign will be sent to Orange throughout the program, with sample preparation analysis to be completed at the same facility.
Click here for the full ASX Release
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Highlights:
- All conditions in relation to the $20 million placement to Clean Elements Fund have been satisfied.
- Due diligence undertaken by Clean Elements Fund validates the standing of Hombre Muerto West ( HMW ) as a world class lithium project, offering exceptional scale and grade.
- Galan is now fully funded to complete the construction of Phase 1 at HMW (at 4ktpa LCE) with first production of lithium chloride concentrate planned during H1 2026.
Galan Lithium Limited (ASX: GLN,OTC:GLNLF) ( Galan or the Company ) is pleased to announce that all conditions relating to the $20 million share placement ( Placement ) to the Clean Elements Fund ( Clean Elements ) have now been completed.
The Placement, which was undertaken at a significant premium to the prevailing share price when originally announced, was subject to certain conditions including shareholder approvals (received at a General Meeting held on Friday, 22 August 2025 ) as well as the satisfactory completion by Clean Elements of technical and legal due diligence in respect of the Company and HMW in Argentina.
Clean Elements has advised that all conditions to the Placement have been satisfied. As such, the Placement will now proceed to settlement, providing Galan with the funding required for the finalisation of the HMW Phase 1 construction over the remainder of the 2025 calendar year, with first production of lithium chloride concentrate scheduled for H1 2026.
Settlement will take place in two equal tranches of $10 million . Tranche 1 settlement will occur within the next 5 business days and Tranche 2 of the Placement will settle no later than 22 November 2025 , in line with the timing set out in the relevant shareholder approval.
Managing Director, Juan Pablo Vargas de la Vega , commented: ‘With the support of Clean Elements, Galan now has the funding certainty to complete Phase 1 construction at HMW and is firmly on track to deliver first lithium chloride concentrate production in H1 2026.
The due diligence undertaken by Clean Elements Fund has confirmed, what we at Galan already know – HMW is an exceptional lithium project, combining substantial scale and grade with execution capability that places it among the best globally.
The team at Galan remains focussed on advancing project delivery at HMW and we look forward to creating significant long-term value for shareholders as we progress towards production.’
Clean Element’s Chairman, Ofer Amir , commented: ‘ We are thrilled to confirm a binding and unconditional commitment to complete both tranches of the placement—an outcome that underscores strong confidence in Galan’s strategic direction.
Our specialist lithium brine adviser highlighted that HMW is the premier lithium brine resource globally. HMW’s brine is the highest grade in Argentina with the lowest impurity profile. It also contains significantly less magnesium and calcium than the levels found in the Salar de Atacama in Chile which, when combined with HMW’s high lithium grades, gives rise to the highest lithium recoveries in the lithium brine sector to date.
This exceptional resource quality enables a low-cost, evaporation process—positioning Galan to become a high-margin, globally competitive lithium producer. In our view, Galan will not just be participating in the lithium market; it will be setting a new benchmark.’
The Galan Board has authorised this release.
For further information contact:
|
COMPANY |
MEDIA |
|
Juan Pablo (‘JP’) Vargas de la Vega |
Matt Worner |
|
Managing Director |
Vector Advisors |
|
jp@galanlithium.com.au |
mworner@vectoradvisors.au |
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+ 61 8 9214 2150 |
+61 429 522 924 |
View original content: https://www.prnewswire.com/news-releases/galan-lithium-limited-successful-due-diligence-completed—20m-placement-to-proceed-302537458.html
SOURCE Galan Lithium Limited
News Provided by PR Newswire via QuoteMedia
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The Trump administration said Friday that it had taken a 10% stake in Intel, the president’s latest extraordinary move to exert federal government control over private business.
The United States will not seek direct representation on Intel’s board and pledged to vote with the current Board of Directors on matters requiring shareholder approval, ‘with limited exceptions,’ according to a joint release from the Trump administration and Intel. The move also comes as the United States vies with China in the race to dominate the artificial intelligence industry.
President Donald Trump announced the deal on his Truth Social platform Friday, praising the company’s CEO just two weeks after he called on the executive to resign over alleged China ties.
‘It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future,’ he wrote. ‘I negotiated this Deal with Lip-Bu Tan, the Highly Respected Chief Executive Officer of the Company. The United States paid nothing for these Shares, and the Shares are now valued at approximately $11 Billion Dollars. This is a great Deal for America and, also, a great Deal for INTEL. Building leading edge Semiconductors and Chips, which is what INTEL does, is fundamental to the future of our Nation.’
While the U.S. held temporary stakes in firms at the center of the 2008-2009 global financial meltdown as part of a bailout, this move is unusual since the economy is not embroiled in a crisis. Congress published a study in 2003 that examined the impact of the federal government taking direct stakes in public companies, concluding that doing so would “not offer a free lunch” and expose taxpayers to “greater risk” alongside the upside potential.
The stake will be paid for through $5.7 billion in grants previously awarded to Intel under the 2022 U.S. CHIPS and Science Act, plus $3.2 billion awarded to the company as part of a program called Secure Enclave. It’s a formerly classified initiative that Congress appropriated funds for in 2024 after lobbying by Intel, Politico reported in 2024.
Including $2.2 billion in CHIPs grants Intel has received so far, the total investment is $11.1 billion, or 9.9%. Intel is valued at about $108 billion on the stock market.
Trump continues to bulldoze through long-held norms regarding government and business, departing from the free-market ethos that has long prevailed in both major U.S. political parties.
This month, Trump persuaded the chipmakers Nvidia and AMD to pay the U.S. government 15% of their revenues from some sales to China in return for securing export licenses there.
While those firms have seen their fortunes rise amid the larger artificial intelligence boom, a windfall from any of them is no sure thing. In the case of California-based Intel, the company has struggled to keep up with rivals in recent years, with its shares down some 60% from the highs seen during the pandemic.
But amid the ongoing artificial intelligence arms race — and the goal of making computer chips a national security priority — Trump officials zeroed in on Intel as a means of leveling up U.S. control over semiconductor production.
Earlier this week, Japan’s SoftBank also announced it would invest $2 billion in Intel to “deepen their commitment to investing in advanced technology and semiconductor innovation in the United States.’
Some Democrats signaled they were on board with the move.
‘U.S. leadership is critical for both our economy and national security,’ U.S. Senator Mark Warner, D-Virginia, said in a statement Friday evening.
‘Taking an equity stake in Intel may or may not be the right approach, but one thing is clear: allowing cutting-edge chips to flow to China without restraint will erode the value of any investment we make here at home. We need a strategy that protects American innovation, strengthens our workforce, and keeps the technologies of the future firmly in American hands.’
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The S&P 500 ($SPX) just logged its fifth straight trading box breakout, which means that, of the five trading ranges the index has experienced since the April lows, all have been resolved to the upside.
How much longer can this last? That’s been the biggest question since the massive April 9 rally. Instead of assuming the market is due to roll over, it’s been more productive to track price action and watch for potential changes along the way. So far, drawdowns have been minimal, and breakouts keep occurring. Nothing in the price action hints at a lasting change — yet.
While some are calling this rally “historic,” we have a recent precedent. Recall that from late 2023 through early 2024, the index had a strong start and gave way to a consistent, steady trend.
From late October 2023 through March 2024, the S&P 500 logged seven consecutive trading box breakouts. That streak finally paused with a pullback from late March to early April, which, as we now know, was only a temporary hiccup. Once the bid returned, the S&P 500 went right back to carving new boxes and climbing higher.
New 52-Week Highs Finally Picking Up
If there’s been one gripe about this rally, it’s that the number of new highs within the index has lagged. As we’ve discussed before, among all the internal breadth indicators available, new highs almost always lag — that’s normal. What we really want to see is whether the number of new highs begins to exceed prior peaks as the market continues to rise, which it has, as shown by the blue line in the chart below.
As of Wednesday’s close, 100 S&P 500 stocks were either at new 52-week highs or within 3% of them. That’s a strong base. We expect this number to continue rising as the market climbs, especially if positive earnings reactions persist across sectors.
Even when we get that first day with 100+ S&P 500 stocks making new 52-week highs, though, it might not be the best time to initiate new longs.
The above chart shows that much needs to align for that many stocks to peak in unison, which has historically led to at least a short-term consolidation, if not deeper pullbacks — as highlighted in yellow. Every time is different, of course, but this is something to keep an eye on in the coming weeks.
Trend Check: GoNoGo Still “Go”
The GoNoGo Trend remains in bullish mode, with the recent countertrend signals having yet to trigger a greater pullback.
Active Bullish Patterns
We still have two live bullish upside targets of 6,555 and 6,745, which could be with us for a while going forward. For the S&P 500 to get there, it will need to form new, smaller versions of the trading boxes.
Failed Bearish Patterns
In the chart below, you can view a rising wedge pattern on the recent price action, the third since April. The prior two wedges broke down briefly and did not lead to a major downturn. The largest pullbacks in each case occurred after the S&P 500 dipped below the lower trendline of the pattern.
The deepest drawdown so far is 3.5%, which is not exactly a game-changer. Without downside follow-through, a classic bearish pattern simply can’t be formed, let alone be broken down from.
We’ll continue to monitor these formations as they develop because, at some point, that will change.
In this video, Mary Ellen spotlights the areas driving market momentum following Taiwan Semiconductor’s record-breaking earnings report. She analyzes continued strength in semiconductors, utilities, industrials, and AI-driven sectors, plus highlights new leadership in robotics and innovation-focused ETFs like ARK. From there, Mary Ellen breaks down weakness in health care and housing stocks, shows how to refine trade entries using hourly charts, and compares today’s rally to past market surges. Watch as she explores setups in silver and examines individual stocks like Nvidia, BlackRock, and State Street.
This video originally premiered on July 18, 2025. You can watch it on our dedicated page for Mary Ellen’s videos.
New videos from Mary Ellen premiere weekly on Fridays. You can view all previously recorded episodes at this link.
If you’re looking for stocks to invest in, be sure to check out the MEM Edge Report! This report gives you detailed information on the top sectors, industries and stocks so you can make informed investment decisions.
Former National Security Advisor John Bolton, who served under President Donald Trump’s first administration, was the subject of FBI raids at his home and office Friday morning as federal authorities searched for classified documents.
The raids follow a storied history between Trump and Bolton that has devolved into the pair trading repeated political blows on the public stage.
News broke early Friday morning that FBI agents flocked around Bolton’s Maryland home and were seen carrying out boxes, which was followed hours later by the FBI raiding Bolton’s Washington, D.C., office.
‘I’m not a fan of John Bolton,’ Trump told reporters on Friday morning after the raids began, adding he saw the reports but was not aware of details on the raid ahead of time. ‘He’s a real sort of a lowlife.’
‘He’s a very quiet person, except on television, if he can say something bad about Trump,’ Trump added. ‘He’s not a smart guy, but he could be a very unpatriotic guy. We’re going to find out.’
The remarks echo years of past comments the pair have shared in public forums airing their dissatisfactions with one another, most notably after Trump tapped Bolton to serve as his national security advisor in 2018.
Fox News Digital took a look back at the pair’s relationship since Trump’s mad dash to fill his first administration in 2017, through his ouster of Bolton as the national security advisor and the ongoing clashes the pair have shared since.
‘I like (Bolton),’ Trump said in 2015 while appearing on ‘Meet the Press’ just weeks after announcing his candidacy for the White House. ‘I think he’s, you know, a tough cookie, knows what he’s talking about.’
Bolton was first speculated as a likely pick to serve as Trump’s secretary of state in December 2016, when Trump was preparing for his first inauguration after his upset victory over Hillary Clinton in the election that year. Pundits touted Bolton as an experienced foreign policy hawk who could bolster Trump’s diplomatic agenda, and conservative outlets such as the National Review’s editorial board implored the Trump transition team to choose Bolton, identifying him as a ‘hard-headed realist whose focus is always the national interest.’
Trump, however, ultimately tapped Rex Tillerson to serve as secretary of state.
Bolton showered Trump with praise of his own ahead of his confirmation as national security advisor in 2018, calling the president ‘a terrific guy’ who ‘knows a lot’ when the administration kicked off in 2017.
The warm relationship got cozier when Trump announced in 2018 on X that he called on Bolton to serve as his national security advisor
‘I am pleased to announce that, effective 4/9/18, @AmbJohnBolton will be my new National Security Advisor. I am very thankful for the service of General H.R. McMaster who has done an outstanding job & will always remain my friend. There will be an official contact handover on 4/9.’
‘I didn’t really expect that announcement this afternoon,’ Bolton said on Fox News shortly after the announcement. ‘But it’s obviously a great honor and always an honor to serve our country.’
The pair found common ground on issues such as withdrawing the U.S. from the Joint Comprehensive Plan of Action, otherwise known as the Iran nuclear deal, which was an Obama-era agreement with other world powers to limit Iran’s nuclear capabilities.
Trump ultimately pulled the U.S. out of the agreement in 2018, slamming it as a ‘horrible one-sided deal that should have never, ever been made,’ and was backed by his hawkish group of foreign policy advisors, such as Bolton and then-Secretary of State Mike Pompeo.
Bolton’s relationship with Trump began to sour as he advanced hard-line strategies toward U.S. adversaries, including Iran and North Korea. He had long advocated regime change in Tehran, though he later clarified in his role as national security advisor that American policy was ‘not regime change,’ but rather a push for ‘massive change in the regime’s behavior.’ Trump, by contrast, initially favored a more diplomatic path, urging that flaws he saw in the Iran nuclear deal be renegotiated before ultimately deciding to withdraw from the agreement altogether.
‘John Bolton is absolutely a hawk. If it was up to him, he’d take on the whole world at one time, okay?’ Trump said of Bolton in June 2019, underscoring the bubbling tensions between the two on foreign policy.
In April 2018, Bolton suggested North Korea follow Libya’s example of denuclearization, which he called the ‘Libya model,’ and included the country giving up its nuclear weapons in 2003 in exchange for the lifting of economic sanctions. Bolton’s comments about such a model for North Korea set off condemnation in Pyongyang as they raised concerns this would lead to potential regime change.
Trump cited the comment following Bolton’s abrupt exit from the White House in September 2019.
‘We were set back very badly when John Bolton talked about the Libyan model … what a disaster,’ Trump told reporters at the time.
Days ahead of Bolton’s ouster, Trump was slated to meet with Taliban leaders in an effort to negotiate peace in Afghanistan, but the meeting never took place and Bolton reportedly slammed such an effort in conversations with Trump, media outlets reported at the time.
Bolton was ousted from his role as national security advisor Sept. 10, 2019, with Trump characterizing the departure as a firing, and Bolton saying he tendered his resignation and was not fired.
‘I informed John Bolton last night that his services are no longer needed at the White House,’ Trump tweeted in 2019. ‘I disagreed strongly with many of his suggestions, as did others in the Administration, and therefore I asked John for his resignation, which was given to me this morning. I thank John very much for his service. I will be naming a new National Security Advisor next week.’
Bolton shot back on X that he ‘offered to resign last night and President Trump said, ‘Let’s talk about it tomorrow.”
The former national security advisor was replaced by Robert C. O’Brien, with Trump and Bolton continuing their contentious relationship years later.
The raid on Bolton’s home is part of the ‘early stages of an ongoing investigation into John Bolton,’ Vice President JD Vance said Friday during an appearance on ‘Meet the Press.’ Bolton was not arrested or in custody amid the early morning raids.
The searches are focused on potential classified documents agents believe Bolton may still possess, Fox News reported.
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FBI agents raided the Bethesda, Md., home of former national security adviser John Bolton on Friday morning, marking a new tension point in his difficult relationship with President Donald Trump. Agents also raided Bolton’s D.C. office.
The reason behind the raids was reportedly linked to a probe of allegations that Bolton sent classified documents to his family from a private email server while working at the White House, according to the New York Post. The Post cited a Trump administration official who said FBI Director Kash Patel ordered the raid.
The outlet also reported that yet-to-be-unsealed search warrants reference a controversy over his memoir to establish a pattern of behavior. However, a senior U.S. official told the Post the probe was a ‘clean break’ from the investigation regarding Bolton’s book.
Shortly after the raid began, Patel wrote on X that ‘no one is above the law… [FBI] agents on a mission.’
FBI Deputy Director Dan Bongino shared the post and wrote, ‘Public corruption will not be tolerated.’
Bolton, who served in Trump’s first administration, has not been arrested or taken into custody. Trump revoked his security clearance and Secret Service detail in January 2025.
Trump was asked about the raid on Friday and said he did not know about it ahead of time, claiming he saw it on television. The president then made clear his disdain for his former national security adviser.
‘I’m not a fan of John Bolton. He’s a real lowlife,’ Trump told reporters. He went on to call Bolton ‘not a smart guy’ and said ‘he could be very unpatriotic.’
The president also said Bolton was ‘a very quiet person except on television if he can say something bad about Trump.’
Vice President JD Vance told ‘Meet the Press’ on Friday that ‘we’re in the very early stages of an ongoing investigation into John Bolton.’ Vance denied Bolton was being targeted for criticizing Trump.
A source familiar with the Bolton raid and the evidence used to justify it told Fox News Digital that ‘Bolton really had some nerve to attack Trump over his handling of classified information,’ but would not give more details.
Bolton criticized Trump’s handling of classified documents after the FBI raided Mar-a-Lago in 2022. Trump was later indicted on 37 felony counts, which expanded to 40 before the case was dropped in July 2024.
During Trump’s first administration, a probe into classified documents was launched but later shut down by the Biden administration. The Justice Department argued that Bolton’s 2020 memoir, ‘The Room Where it Happened,’ contained classified material and attempted to block it from being published.
The FBI and Bolton’s office declined to comment on the matter.
Reporting contributed by Axios and Fox News’ Michael Dorgan, David Spunt, Breanne Deppisch, Emma Woodhead and Brooke Singman.
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As the 11th member of former President Joe Biden’s administration appeared before the House Oversight Committee this week, Fox News Digital asked senators on Capitol Hill if former Vice President Kamala Harris should testify next.
‘I think they should take her behind closed doors and figure out what she knows and what she’s willing to talk about,’ Sen. Roger Marshall, R-Kan., said.
House Oversight Committee Chair James Comer, R-Ky., is leading the investigation into the alleged cover-up of Biden’s cognitive decline and use of the autopen during his tenure as president.
Comer said on Fox News’ ‘The Ingraham Angle’ last month that the ‘odds’ of Harris getting a subpoena to appear before the House Oversight Committee are ‘very high.’
While Marshall told Fox News Digital that Harris should testify, he admitted, ‘I don’t think you need her testimony to show Americans what I knew as a physician a long time ago, that Joe Biden had a neurodegenerative disease of some sort.’
Marshall has a medical degree from the University of Kansas and practiced medicine for more than 25 years before running for public office.
‘All you had to do is look at his very fixed, flat face,’ Marshall explained. ‘Look at his gait, the way he walked. He had a shuffled walk. He didn’t move his arms, hardly at all. When he talked, it was very monotone, a very soft voice. He had malingering thought processes. I don’t think it took much to figure that out.’
After listing the former president’s symptoms, the Kansas senator lamented that Biden ‘turned weakness into war,’ creating a national security threat.
During Biden’s presidency, the United States’ withdrawal from Afghanistan resulted in the death of 13 U.S. soldiers, Russia invaded Ukraine and Hamas attacked Israel, triggering the ongoing war in Gaza.
But as Republicans demand transparency, Sen. Richard Blumenthal, D-Conn., told Fox News Digital he is far more worried about the ‘challenges we face right now,’ particularly on the economy, inflation and the effect of Trump’s tariff policies.
Meanwhile, Sen. John Hoeven R-N.D., defended the accountability argument, telling Fox News Digital that Americans ‘always want more information and more transparency.’
‘If you’re involved in an administration, you [should] always be willing to come in and say what you did and why you did it, and you know what it’s all about. I mean, that’s how it works, and that’s what the American people want,’ he said.
Fox News Digital reached out to Biden and Harris for comment but did not immediately receive a response.
Fox News Digital’s Elizabeth Elkind contributed to this report.
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A broad selloff in heavyweight tech stocks at the start of the week abruptly reversed after US Federal Reserve Chair Jerome Powell delivered a speech that bolstered expectations of a September interest rate cut.
Speaking at the Jackson Hole Economic Policy Symposium, Powell took a more dovish tone than investors may have been expecting, noting a slowdown in both worker supply and demand that could lead to employment risks.
He stated that the shifting balance of risks may warrant adjusting the Fed’s policy stance, stressing the need to balance both sides of the central bank’s dual mandate when goals are in tension.
This is a change from the Fed’s previous stance, which had been more focused on the need to keep rates high to fight inflation. Powell acknowledged the visible, though likely temporary, effects of tariffs, cautioning about the potential for persistent inflation, but signaled that the Fed is now also seriously considering the downside risks to employment.
A risk-on rally ensued, impacting various market sectors: the S&P 500 (INDEXSP:.INX), Dow Jones Industrial Average (INDEXDJX:.DJI) and Nasdaq Composite (INDEXNASDAQ:.IXIC) all closed up by more than 1.5 percent.
Bitcoin climbed above US$116,800, the Russell 2000 Index (INDEXRUSSELL:RUT) surged by 3.9 percent and 10 year treasury yields decreased by 0.07 percentage points to 4.26 percent. Traders now have higher expectations for a September rate cut, with probabilities exceeding 83 percent according to CME Group’s (NASDAQ:CME) FedWatch tool.
Here’s a look at the other drivers that shaped the tech sector this week.
1. Softbank to invest US$2 billion in Intel
Intel’s (NASDAQ:INTC) share price got a boost this week after a series of major announcements, beginning with SoftBank Group’s (TSE:9984) Monday (August 18) announcement that it plans invest US$2 billion in the company.
“Semiconductors are the foundation of every industry. For more than 50 years, Intel has been a trusted leader in innovation,’ said Masayoshi Son, chairman and CEO of SoftBank, in a press release.
‘This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role,” he added.
Following that news, sources confirmed last week’s reports that the US government was seeking an equity stake in Intel in exchange for Biden-era Chips Act funding. Then, on Friday (August 22), US Secretary of Commerce Howard Lutnick announced that Intel had agreed to sell an 8.9 percent stake to the federal government, a move that will convert billions of dollars in previously awarded grants into a passive ownership stake.
Intel performance, July 28 to August 18, 2025.
Chart via Google Finance.
These developments have sent Intel’s market value soaring, with its share price increasing over 28 percent from the start of the month. Shares of Intel closed up on Friday at US$24.80.
2. Figure files for Nasdaq IPO
Figure Technology filed for an initial public offering (IPO) on the Nasdaq on Monday under the ticker symbol FIGR, joining a growing list of crypto-related companies looking to access public markets following the successful debut of stablecoin issuer Circle Internet Group (NYSE:CRCL).
Figure leverages blockchain to streamline financial services. The company’s filing reveals a strong financial performance, with profit reaching US$29 million in the first half of 2025, compared to a US$13 million loss in the same period last year. Its revenue for the first half of the year was US$191 million.
Goldman Sachs (NYSE:GS), Jefferies Financial Group (NYSE:JEF) and Bank of America Securities are acting as lead underwriters for the offering. The number of shares and price ranges are yet to be confirmed.
3. Google unveils new Pixel and more
Google (NASDAQ:GOOGL) made headlines this week with several new developments spanning its business lines.
The week kicked off with the tech giant announcing it has increased its stake in data center operator and Bitcoin miner TeraWulf (NASDAQ:WULF) to roughly 14 percent, worth US$3.2 billion.
The company also revealed a partnership with advanced nuclear startup Kairos Power and the Tennessee Valley Authority to power its data centers in Tennessee and Alabama using a new nuclear reactor.
On Wednesday (August 20), Google unveiled its latest Pixel smartphone, the Pixel 10, and accessories, with upgrades including a health coach powered by artificial intelligence (AI).
The week culminated with reports of a US$10 billion cloud computing agreement with Meta Platforms (NASDAQ:META) to provide the necessary servers and infrastructure for Meta’s expanding AI operations. The news sent Google’s share price up by over 3 percent and Meta’s up by over 2 percent.
4. NVIDIA tumbles amid China tension and chip sales
NVIDIA (NASDAQ:NVDA) experienced a volatile week, with its share price slipping in early trading on Monday following reports of renewed tensions with China. The downturn was triggered by news that Beijing will move to restrict sales of the H20 AI chip, the company’s most advanced product approved for the Chinese market.
China’s internet and telecom regulator, as well as the state planning agency, issued informal guidance to major tech companies, instructing them to halt new orders of the H20 chips, citing security concerns.
According to unnamed officials who spoke to the Financial Times, the decision was also influenced by “insulting” remarks from US Secretary of Commerce Howard Lutnick.
In response to the Chinese directive, NVIDIA has reportedly instructed its component suppliers, including Foxconn Technology (TPE:2354), Samsung Electronics (KRX:005930) and Amkor Technolgy (NASDAQ:AMKR), to suspend production of the H20 chip; the company also said it is working on a new AI chip for China.
Alphabet, NVIDIA, Palo Alto Networks and Meta Platforms performance, August 19 to 22, 2025.
Chart via Google Finance.
NVIDIA saw the greatest losses midweek, falling over 4 percent between Tuesday and Thursday. The company recovered some of its losses during Friday’s rally, but finished the week over one percent lower.
5. Palo Alto Networks rises on strong forecast
Palo Alto Networks (NASDAQ:PANW) surged over 7 percent on Tuesday after the cybersecurity company forecast that revenue and profit for its 2026 financial year will come in above estimates.
The company gave a strong performance in its 2025 fiscal year, with total revenue increasing 15 percent year-on-year to US$9.2 billion, fueled by an increase in revenue from newer, cloud-based security products. This growth occurred alongside a 24 percent rise in its future contracted business to US$15.8 billion.
The company also surpassed a US$10 billion revenue run rate while maintaining its “Rule-of-50” status — a measure of the balance between growth and profitability — for the fifth consecutive year.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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