As the European Union bans Brazilian beef imports, President Donald Trump is waiving tariffs on imported beef—shortly after meeting with a Brazilian meatpacking billionaire.

Trump announced the tariff exemptions, aimed at boosting America’s beef supply, a day after meeting with Joesley Batista, co-owner of JBS, the world’s largest meatpacking company. The EU said meat from Brazil—its second-largest beef supplier in 2025—isn’t meeting its food safety standards, leaving packers with a surplus of export-ready meat.

Batista has positioned himself as a Trump ally in the president’s second term, and JBS was the single largest donor to Trump’s second inaugural fund through one of its subsidiaries.

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Nvidia officially announced Thursday that it will purchase open-source AI model hosting platform Hugging Face for $12.9 billion, and CEO Jensen Huang committed to keeping the platform open for developers.

The price of gold rebounded from its slump over much of the past week, with analysts citing a softening U.S. dollar and falling expectations that the Federal Reserve will hike interest rates in September.

Tesla’s stock surged 5% as the company unveiled its new Cybercab, a two-seat autonomous vehicle without a steering wheel or pedals. Investors are looking for evidence the company can grow its robotaxi plans into a larger operation as its electric vehicle business grapples with global competition, particularly from Chinese rivals like BYD.

Hewlett Packard Enterprise is giving Oracle the right to purchase over 4 million shares in the company, worth about $210 million, at essentially no cost, the firm disclosed in a filing. It’s tied........

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