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Here’s what you need to know today

• Nvidia and AMD have struck a rare revenue-sharing deal with the US government, agreeing to hand over 15% of sales from their China-only AI chips, Nvidia’s H20 and AMD’s MI308. The arrangement follows earlier bans on H20 sales to Beijing over security concerns, and experts have warned the H20 will help the Chinese military and undermine US strength in artificial intelligence. (BBC)

  
  

• A 23-year-old former OpenAI researcher with no formal investing background, has raised more than US$1.5b for an AI-focused hedge fund he dubs a “brain trust on AI”. Leopold Aschenbrenner’s firm, Situational Awareness, targets global stocks poised to gain from AI’s rise and a select group of startups. The fund delivered a 47% return in the first half of 2025. (WSJ)

  
  

• JB Hi-Fi chief executive, Terry Smart, is stepping down in October, ending a career spanning more than two decades with the electronics retailing giant. The announcement came as JB Hi-Fi posted its full-year results, showing store sales up 7.5% to $7.1bn, led by strong demand for the new Nintendo Switch. Margins however slipped as heavier discounting bit into profits, and the share price closed down over 8% as investors digested the news and leadership change. (Sydney Morning Herald)
  
  

• Australian beef exports to the US rose 12% year-on-year in July to 43,000 tonnes, lifting total monthly shipments to a record high. Australia’s cattle ranchers expect the momentum to continue, with steep US tariffs on rivals including 50% for Brazil, 35% for Canada and 15% for New Zealand, compared with Australia’s 10% giving local producers a clear edge. (Financial Times)
  
  

• Australian Lithium stocks surged on Monday after battery giant Contemporary Amperex Technology suspended production at a major mine in China. Liontown Resources was up 17%, Pilbara Mineral 18%, IGO 8.5% and Mineral Resources 11%. (AFR)
  
  

• Last week BP unveiled its biggest oil discovery in 25 years, and it’s not the only major turning back to fossil fuels. Leaders at Chevron, ExxonMobil, Shell and TotalEnergies have all used recent earnings calls to highlight how they have begun refocusing on securing oil and gas reserves, after years of chasing renewables. Hopes for a rapid energy transition have cooled as inflation and interest rates raised costs and slowed renewable projects, while geopolitical instability has led governments to put energy security ahead of decarbonisation. (Financial Times)
  
  

• American companies are buying back their own stock at a record rate, with repurchases expected to top US$1.1 trillion in 2025. Apple and Alphabet are among the biggest spenders, alongside JPMorgan, Bank of America and Morgan Stanley. Strong earnings as well as trade uncertainty has led many firms to pause investment plans and funnel excess cash into buybacks instead. (WSJ)
  
  

• The second largest cryptocurrency by market cap, Ethereum, has just turned 10. It marked the recent milestone by hitting $4,000 for the first time in 8 months and is now up 190% from it’s April low. The recent rise has been driven by record ETF inflows and corporate treasury accumulation. (Quartz)
  
  

• After serving up $200m worth of sushi last year, Sushi Hub is now chasing a billion-dollar valuation as it plans to expand its footprint. The bullish target is based on ambitions that the Australian sushi chain can become the next Guzman Y Gomez, which hit the ASX in June last year and was valued at $3.75bn at its peak. (AFR)

  
  

• The Reserve Bank of Australia (RBA) will announce its latest cash rate decision at 2:30 pm on Tuesday, with the rate currently at 3.85%. Economists overwhelmingly expect a cut, though last month’s surprise hold, despite widespread forecasts of a 25 basis point reduction, serves as a reminder the RBA can defy expectations. (Capital Brief)

What the…?

Thousands of Norwegians thought they had won big on the lottery, only to then find out three days later they had been sent incorrect notifications about the amount they had won.

State-owned gambling group Norsk Tipping said it had published incorrect prize amounts to 47,000 people, following a Eurojackpot draw, due to an error in converting from euro cents to Norwegian kroner.

Norsk Tipping confirmed the winnings had been multiplied by 100 instead of being divided by 100. No one ended up getting the extra cash, just crushing disappointment. (SBS)

Investing is a lifelong journey

Here’s what you can learn today.

Pick winners and stick to them

This is taken from the Equity Mates Investing episode titled ‘Mark Lamonica – Investing For Income To Live The Life You Want Today’ (Apple | Spotify | YouTube)

If you could teach yourself one lesson as that young investor, what would it be?

Align what you're trying to achieve with your philosophy, temperament, and everything else. I had a lot of bad habits as a young investor.

Even after the dot-com crash, when I shifted focus more toward dividends, I still traded too much. I turned over my portfolio far too often. I had a little bit of money, I was in uni, not working, no income coming in - so every time I came up with a new idea, I had to sell something. That was just really poor behaviour.

The tax consequences weren’t even that bad at the time, it was the behaviour itself that held me back. Now, as a 45-year-old, I look back and think, if I’d just bought some solid names and held onto them... I still own a couple from that era, but if I’d stayed the course, I’d be in a much better position today. You can’t get that time back.

Want to check out the full episode? All Equity Mates Investing episodes are now released on their own YouTube channel:

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