Ebang International Reports Financial Results for Fiscal Year 2024

Reuters, citing the WSJ, says Nvidia scaled back its funding guarantee for a proposed OpenAI data center in Ohio. Nvidia is expected to initially guarantee less than $120 billion versus $250 billion previously discussed, covering only the first phase. A deal could be signed as soon as this weekend. OpenAI and Nvidia are nearing agreement; SB Energy (SoftBank unit) would develop the 10 GW site.

TerraPower said it selected Hyundai Engineering and Construction as EPC for up to eight 345 MW Natrium reactor and energy storage plants, with Meta funding and initial deliveries as early as 2032. TerraPower also signed a term sheet with SK Innovation to pursue Korea’s first commercial Natrium plant. Separately, the DOE plans to award X-energy $1B for four 80 MW HTGRs at Dow’s Texas site.

SciTec, a subsidiary of Firefly Aerospace (Nasdaq: FLY), won a nearly $94 million U.S. Space Force contract to supply ground-based radar digitization for Space Systems Command in Colorado Springs. SciTec said the work will modernize radars via a common architecture and design. SciTec was absorbed into Firefly last year for $855 million.

Tyson Foods said it will close its Joslin, Illinois harvest plant and a Utah case-ready facility, and plans to sell a harvest facility in Pasco, Washington, citing U.S. cattle shortages. Tyson will anchor beef around Dakota City, Nebraska; Holcomb, Kansas; and Amarillo, Texas. JBS plans to shift Souderton, Pennsylvania to case-ready and invest $30 million. Analysts link closures to lower cattle prices and packer concentration.

Shareholder Doug Bond filed a class action against UWM Holdings in Michigan federal court, alleging securities fraud over disclosures about UWM’s interest rate derivatives hedge tied to its Two Harbors acquisition. The suit covers purchases from March 9 to Aug. 5, citing a $603.2 million derivatives loss and a $2.05 billion Oaktree cash infusion after a March revenue projection.

The Pentagon signed seven-year framework agreements with Boeing and RTX to expand production of Standard Missile-3 components for SM-3 Block IB and Block IIA, including avionics and ejector assemblies Boeing supplies to Raytheon. The deals aim to stabilize supply chains and expand munitions output. Separately, the Missile Defense Agency awarded Raytheon a $745 million contract for Block IIA interceptors.