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On Friday night, Nvidia took $130 billion of funding back from OpenAI. MON TUE WED EVERYTHING ELSE - 2 MIN THU WEDNESDAY IS LOADED. OPENAI - OHIO 10 GIGAWATTS TEN GIGAWATTS. NO MONEY. LOAN AGREEMENT BORROWER: OPENAI GUARANTOR: NVIDIA CHIPS CO-SIGNED. $250,000,000,000 NOT OURS a quarter of $1 trillion SIGNED FOR IT ANYWAY. Of somebody else's debt. Nvidia did not lend this. It promised to pay if OpenAI can't. GOOD QUESTION. Then Nvidia investors what happens if OpenAI doesn't pay 9 HOLD - 3 UP WRONG DIRECTION. WAS $250BN UNDER $120BN LIMITS EXIST. was $250BN and I guess Nvidia even has a limit WEDNESDAY 19 AUGUST 12:01AM TARIFFS 8:00AM TARGET 1:00PM AUCTION 2:00PM THE FED BRACE. Is when everything happens. One minute past midnight. Real. Effective 12:01am Wednesday. Hockey equipment is genuinely on the list. NOT THE STICKS. 50% tariff on Canadian cars, dairy, alcohol and hockey equipment. STILL WORKS, APPARENTLY. They're using a tariff law from 1930 that no president has ever used. THE FED JULY MINUTES THE ARGUMENT, IN WRITING. Then at two in the afternoon, Minutes = the written record of the argument, published three weeks later. the fed publishes its July meeting. WRONG DIRECTION. 9 HOLD - 3 UP Not. On Thursday. THE WHOLE TAPE. and Walmart moves THE STOCK MARKET WALMART CONSUMER CONFIDENCE 51 RETAIL SALES VIBES: GONE. American retail sales The all-time low was 44.8, in May. This is the second-worst it has ever been. just had their worst month And consumer Confidence is at 51 close to the lowest it's ever been. THE BINS ARE BOOMING. But Ross Stores ROSS * 17% the discount chain grew 17% Ross Stores is a US discount chain. Same-store sales, last quarter. last quarter. DOWGRADED. Americans haven't stopped shopping. They've just started shopping. Worse. IT'S FINE. eaten off the street for years and I'm perfectly fine underneath STILL SHUT. STRAIT OF HORMUZ 168 DAYS About a fifth of the world's oil used to go through this gap. Since 28 February, almost none does. OUCH. and diesel costs 40% DIESEL 40% more than it did a year ago. THE HIDDEN TAX. DIESEL This is why an oil shock shows up in your shopping an about three months later. This is why an oil shock shows up in your shopping an about three months later. This is why an oil shock shows up in your shopping an about three months later. in the price of everything. RECORD HIGH BACK IN SEPTEMBER NOBODY'S IN. hits a market that just set a record high last on its quietest trading day in 18 months. NFA. I'M A BIRD. Honestly, everybody. Godspeed.