US Morning News Call | Google's Gemini 3.5 Pro Release Delayed

Key Takeaways:

• SpaceX Aborts Starship Test Flight

• Google's Gemini 3.5 Pro Release Delayed

• Netflix Reports Q2 Revenue Miss and Weak Q3 Outlook

🔔Before the Bell

Nasdaq 100 futures tumbled on Friday as growing jitters over AI spending weighed on sentiment and dragged global tech stocks lower.

$E-mini NASDAQ 100 Futures (SEP6) (NQmain.US)$ went down by 1.53%;

$E-mini S&P 500 Futures (SEP6) (ESmain.US)$ went down by 0.78%;

$E-mini Dow Futures (SEP6) (YMmain.US)$ went down by 0.62%.

Netflix Reports Q2 Revenue Miss and Weak Q3 Outlook

$Netflix (NFLX.US)$ reported second quarter revenue that missed analyst expectations and provided third quarter guidance below Wall Street estimates. The company forecast Q3 earnings of 82 cents per share versus analyst estimates of 84 cents, and revenue of $12.86 billion below the $13 billion consensus.

Google's Gemini 3.5 Pro Release Delayed as Engineers Work to Improve Coding Capabilities

$Alphabet-C (GOOG.US)$ $Alphabet-A (GOOGL.US)$ 's flagship AI model Gemini 3.5 Pro has fallen months behind schedule, with its release pushed from July 17 to potentially late July or August, as engineers work to enhance coding capabilities and navigate U.S. regulatory reviews over national security concerns. The delay has raised concerns among employees that Google is falling behind rivals OpenAI, Anthropic, and Meta, all of which recently launched new frontier models.

Meta Plans to Hire Amazon Web Services Executive Dave Brown for Data Center Expansion

$Meta Platforms (META.US)$ plans to hire Dave Brown, a senior Amazon Web Services executive, to focus on data center build-out. CEO Mark Zuckerberg previously indicated interest in launching a cloud business, stating companies approach Meta weekly seeking AI model access.

SpaceX Aborts Starship Test Flight Due to Engine Ignition Failure

$SpaceX (SPCX.US)$ aborted its Starship test flight on Thursday after an engine ignition failure triggered an automatic launch abort, with Elon Musk saying two Raptor engines will be replaced and another attempt is planned for early next week. The setback comes amid choppy post-IPO trading following the company's record-breaking $85.7 billion offering in June.

🪙Crypto News

$Bitcoin (BTC.CC)$ fell -1.38% to 63088.26;$Ethereum (ETH.CC)$ fell -1.61% to 1838.74.

JPMorgan Sees 'Encouraging Signs' for Bitcoin Outlook

JPMorgan analysts said Strategy's increase in U.S. dollar reserves from $2.55 billion to $3 billion—covering roughly 20 months of preferred dividend payments—along with positive institutional flows into bitcoin futures, are encouraging signals for the bitcoin outlook despite volatile spot bitcoin ETF flows.

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