Samuel Boivin | Nurphoto | Getty Images<\/p>\n
Hello, this is Leonie Kidd coming to you from London. <\/p>\n
Alibaba is hoping to summon the AI genie from its bottle with a mega share sale. But investors are not convinced, and news that Nvidia could be hiking prices for some of its biggest customers will also keep the AI community on its toes this week.<\/p>\n
Geopolitical developments are dominating headlines, with escalating tensions in both Iran and Ukraine, while the trade battle between the U.S. and Canada has also resumed. <\/p>\n
Read on.<\/p>\n
What you need to know today<\/p>\n Shares in Chinese technology giant Alibaba<\/a> sank in Hong Kong on Monday, after the group unveiled a $10 billion share placement<\/a>, designed to fund its AI spending. The move comes just days after Alibaba\u00a0reported<\/a>\u00a0a 75% drop in profit for the June quarter as heavy AI expenditure weighed on its results.<\/p>\n Meanwhile, Nvidia is reportedly planning to hike AI prices<\/a> for some of its largest customers. That’s according to Bloomberg<\/a>, which reported the chipmaker could increase the cost of AI servers to customers by more than 15% in some cases. <\/p>\n Technology stocks are weighing on trade across Asia<\/a> more broadly, with the Hang Seng<\/a> and South Korea’s Kospi<\/a> under the most selling pressure. <\/p>\n Trade Showdown<\/p>\n Talks between the U.S. and Canada have broken down, after the two nations failed to reach a trade deal<\/a> on Friday. A wave of new duties will now take effect, impacting around $20 billion worth of Canadian imports. Canada’s Prime Minister, Mark Carney, has said the country will retaliate with its own “dollar for dollar” tariffs, starting on September 8.<\/p>\n U.S. President Donald Trump<\/a> criticized the move, saying “Canada wants the benefits of being a State, without being one!!!,” in a\u00a0post<\/a>\u00a0on Truth Social early Sunday. “They have also charged our great farmers, for many years, massive amounts of Tariffs. No more!!!”<\/p>\n Economic “D-Day”<\/p>\n “At dawn begins an economic D-Day”.<\/p>\n That is the warning from U.S. Treasury Secretary Scott Bessent to Iran, as the administration plans to unveil what it is calling “the single greatest financial offensive ever.”<\/a> Bessent is due to hold a press conference later on Monday to outline the measures. <\/p>\n Iranian Foreign Minister Abbas Araghchi has dismissed the threat of a fresh round of U.S. economic sanctions as a “desperate” ploy, asserting that U.S. actions, like the blockade, were set to fail.<\/p>\n Oil prices have pulled back<\/a> in early trade on Monday in anticipation of more details. <\/p>\n Ukraine’s Independence Day<\/p>\n On Monday, Ukraine marks its Independence Day, recognizing the 35th anniversary of the restoration of its independence. This year, the country is also hoping that the day will mark a fresh round of financial pledges to help it fight its war against Russia. Norway will give $9 billion<\/a> in 2027, to match its 2026 commitment for both military and humanitarian spending. <\/p>\n Meanwhile, U.K. Prime Minister Andy Burnham is making his first foreign visit as leader to Ukrainian capital Kyiv. He is expected to reiterate Britain’s commitment to Ukraine, allowing defense firm MBDA to release classified information on components for long-range missiles. Burnham is expected to meet with President Volodymyr Zelenskyy and chair\u00a0his first\u00a0meeting of the Coalition of the Willing. <\/p>\n \u2014 Leonie Kidd<\/p>\n And Finally…Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Samuel Boivin | Nurphoto | Getty Images Hello, this is Leonie Kidd coming to you from London. 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