AI Trade Back on as AI Cloud Bounces

Amazon's 15% surge on blockbuster AWS results revived the AI trade on Friday, while Situational Awareness — the hedge fund run by a former OpenAI researcher — blew up on leveraged AI bets and sold to Citadel. The SOX fell 20% in July, its worst month since 2008. Coordinated US–Japan yen intervention saw both countries buying yen for the first time in nearly 30 years. Trump called off the Iran strike over the weekend, sending oil down 6%, but hedge funds remain at their most bullish on WTI since mid-June. This week: SpaceX's first earnings as a public company, a massive share unlock, US payrolls, and the start of ASX reporting season.