Snap has announced a significant partnership with Perplexity to integrate its advanced search engine into Snapchat, marking a major step in enhancing user experience. This deal, valued at $400 million, will be executed through a mix of cash and equity, showcasing Snap's commitment to innovation in the competitive social media landscape. By incorporating Perplexity's AI-driven search capabilities, Snapchat aims to provide users with more efficient and engaging ways to find information, which could attract new users and retain existing ones.

Arm has reported a remarkable 34% year-over-year increase in Q2 revenue, reaching $1.14 billion, significantly surpassing estimates. The company's royalty revenue also saw a healthy 21% rise to $620 million. This strong performance is a clear indicator of the growing demand for AI technologies, which is crucial for investors and the tech industry alike. Following this news, Arm's stock jumped over 4% in after-hours trading, reflecting positive market sentiment and confidence in the company's future prospects.

Eric Bach, the chief engineer at Lucid Motors, has departed after a decade with the company, marking a significant shift in leadership. This change comes as part of a broader executive shakeup, raising concerns about the company's direction and stability in a competitive electric vehicle market. Bach's previous experience at Tesla added to his credibility, making his exit noteworthy for both employees and investors.

In Texas, Cargill is revolutionizing the meat industry by using AI technology to optimize the processing of cattle. AI-equipped cameras are helping workers ensure that they maximize the amount of meat harvested from each carcass, reducing waste and improving efficiency. This innovation not only benefits the company by increasing productivity but also has broader implications for sustainability in food production, as it addresses the critical issue of waste in the meat industry.

Reevo, an innovative startup focused on leveraging AI to streamline product launches, has successfully raised $80 million in funding, which includes a $10 million seed round and a $70 million Series A led by Kleiner Perkins. This significant investment, valuing the company at $500 million, highlights the growing interest in AI-driven solutions in the market. The funding will enable Reevo to enhance its technology and expand its reach, potentially transforming how products are brought to market.

Shein has opened its first physical store in Paris, located on the top floor of the historic BHV Marais department store. This move comes amidst protests from politicians and retailers who are concerned about the implications of fast fashion and its impact on local businesses. The opening is significant as it marks Shein's expansion into brick-and-mortar retail, which could influence shopping trends in the city and raise questions about sustainability and ethical practices in the fashion industry.

Elon Musk's ambitious $1 trillion pay proposal for Tesla is facing significant pushback from Norway's $2 trillion wealth fund, which has raised concerns about the potential impact on shareholders and the overall size of the compensation package. This resistance highlights the ongoing debate over executive pay and its implications for corporate governance, making it a crucial issue for investors and stakeholders alike.

Tesla has announced its ambitious plan to begin mass production of its AI5 chips by 2027, marking a significant step in the company's commitment to advancing artificial intelligence technology. This move is crucial as it positions Tesla to enhance its autonomous driving capabilities and maintain a competitive edge in the rapidly evolving tech landscape. The AI5 chips are expected to play a vital role in improving the efficiency and performance of Tesla's vehicles, making this development a key milestone for both the company and the future of AI in automotive technology.