Nvidia and AMD will reportedly pay the U.S. 15% of AI chip sales revenue to China. CEO Jensen Huang allegedly agreed to the unusual arrangement with President Trump. The U.S. government may earn over $2 billion. This follows U.S. restrictions on chip exports to China and new tariffs. Licenses are now being granted for Nvidia's H20 chips and AMD's MI308 chips, previously blocked from export. A 100% tariff on semiconductor imports came into effect last week.

Samsung is launching the One UI 8 Beta program for the Galaxy S24 series, Z Fold 6, and Z Flip 6 starting today. Users in India, the US, South Korea, and the UK can enroll via the Samsung Members app. This Android 16-based beta lets users test new features and report issues, helping improve software stability. Features may vary by region. The program will expand to more Galaxy devices soon.

US-listed video platform Rumble is considering a potential offer of about $1.17 billion for German AI cloud group Northern Data AG. The proposed deal would integrate Northern Data's data centre and GPU cloud business into Rumble's operations. Tether, the majority shareholder of Northern Data, has expressed support for the transaction. However, there is no certainty that discussions will result in a formal offer.

Utkarsh Yadav, an IIT Roorkee graduate, secured 32nd rank in the UPSC Civil Services Examination 2024. Inspired by his elder brother, Devendra Yadav, a 2016 batch IAS officer and District Collector of Dausa, Rajasthan, Utkarsh cleared the exam in his third attempt. He faced setbacks in previous attempts but persevered, studying 8-12 hours daily. His success mirrors stories like the Dabi sisters, highlighting dedication and family influence in achieving civil service dreams.

The government's expenditure on advertisements and publicity campaigns from 2020-21 till August 2025 is Rs 2,320.14 crore. Minister of State for Information and Broadcasting L Murugan said details are available on the DAVP website. Trinamool Congress leader Derek O'Brien slammed the government for not furnishing this information in Parliament. The average expenditure per year for 66 ministries is Rs 454 crore.

The government withdrew the Income Tax Bill, 2025, initially introduced in February. A revised version, incorporating recommendations from the Parliamentary Select Committee, will be presented. The committee suggested 285 changes to simplify the legislation, focusing on clarity and alignment with existing frameworks. Key proposals include removing the clause prohibiting refunds for late-filed returns and amending Section 80M regarding intercorporate dividends.

Axiom Space aims to expand its partnership with India in human spaceflights and space station development, according to CEO Tejpaul Bhatia. Following the Axiom-4 mission that included an Indian astronaut, Axiom plans more missions with India, including space station programs. Axiom is developing a commercial space station, with the first module targeted for connection in 2027. The station will initially accommodate eight people.

BlueStone Jewellery's IPO opens, featuring a fresh issue of ₹820 crore and an offer for sale of 1.39 crore shares by existing shareholders. The company's valuation at the upper price band is approximately ₹7,823 crore. Investors can bid for a minimum of 29 shares. 75% of shares are reserved for QIBs, 15% for non-institutional investors, and 10% for retail investors. Listing on BSE and NSE is expected on August 19. The company reported a loss of ₹222 crore in FY25.

Archaeologists unearthed 1.48 million-year-old tools in South Sulawesi, Indonesia. The discovery, detailed in *Nature*, challenges existing theories about early human migration. Previously, Homo Erectus settlement in Wallacea was believed to be limited to Flores and Luzon around 1.02 million years ago. The Sulawesi find suggests earlier seafaring capabilities. Adam Brumm of Griffith University noted the tools predate Homo Sapiens.

Brent crude fell 0.78% to $66.07 a barrel, and WTI dropped 58 cents to $63.30 amid expectations of eased Russian oil sanctions. President Trump will meet Putin on August 15 to negotiate ending the Ukraine war. Trump set a Friday deadline for peace or face secondary sanctions, pressing India to cut Russian oil purchases. New tariffs are expected to weigh on economic activity. Brent fell 4.4% and WTI dropped 5.1% over the week due to the gloomy economic outlook.