Business & Markets — July 25, 2026

Nvidia locks in SK Hynix memory supply. Nvidia secured long-term high-bandwidth memory supply from SK Hynix as part of a $500 billion AI agreement, squeezing availability for competing chipmakers.

High-bandwidth memory is an essential component for the company's AI graphics processors, according to CNBC, making long-term access to it a strategic priority. The arrangement reflects an aggressive push to guarantee inputs for AI hardware production over an extended horizon. CNBC reports the move tightens the pool of memory available to rival chipmakers, who depend on the same suppliers for comparable components in their own AI products.

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Stagflation warnings return as oil hits $100. Oil rebounded to $100 per barrel on Iran-Houthi escalation, and new tariffs stoked inflation fears. Stagflation warnings -- not heard since 2022 -- returned as stocks fell.

Yahoo Finance reports the combination of energy costs driven by Middle East tensions and fresh trade levies has economists and investors reviving a scenario of slowing growth paired with rising prices. The concern, which had largely faded from market commentary since 2022, is now weighing on equities as both the crude rebound and tariff-related price pressures feed into the inflation outlook simultaneously.

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Trump launches new forced-labor tariffs. The administration imposed tariffs up to 12.5% on more than 60 countries Friday under Section 301 forced-labor authority. The new levies replace ones the Supreme Court struck down. Lawsuits followed within hours.

The measure represents a shift in legal strategy after the Supreme Court invalidated the administration's earlier tariffs in February, according to BBC reporting. A temporary global duty had filled the gap until this action, which relies on a different statutory basis tied to forced-labor concerns. The immediate court challenges suggest the new mechanism will face the same kind of judicial scrutiny that undid its predecessor.

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Paramount pauses Warner Bros. Discovery acquisition. Paramount agreed Friday to delay its $111 billion deal until as late as June 2027 after losing a court bid to proceed. A states' antitrust challenge now heads to trial.

The company had previously targeted completing the transaction by the end of September, making the multi-year postponement a substantial change of course. Twelve state attorneys general and the Writers Guild of America succeeded in forcing a full trial on antitrust grounds, per CNBC. Despite the setback in court, Paramount characterized Friday's agreement as a significant win, and the deal's fate now rests on the trial's outcome.

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