Good morning. Amazon Net Companies will reportedly launch an AI agent market tomorrow throughout its AWS Summit in New York Metropolis. It additionally simply unveiled Kiro, a brand new agentic IDE (“built-in growth setting” or software program utility for builders) and is anticipated to lastly roll out a web-based AI-powered Alexa.com this summer season.
Whereas Amazon already has loads of AI choices and an $8 billion funding in Anthropic, AWS CEO Matt Garman admits the corporate has lagged rivals in relation to rolling out merchandise. “We didn’t have a few of the whiz-bangy issues that you can get on the market rapidly,” he advised me just lately, arguing that technique was by design.
“We took the method of placing ourselves in our clients’ footwear,” Garman defined, “not essentially of how can we get a product out to be first, however how can we take into consideration serving to clients construct this baseline in order that they don’t threat safety, they don’t threat operational excellence, they usually can construct AI functions and agentic functions into the material of their enterprise that takes benefit of the info they’ve?”
“Our enterprise clients are actually constructing actual functions which can be delivering actual worth to them,” he mentioned, versus “only a chat bot that’s up on their web site.”
Garman argues “the chance in entrance of us and the speed of change of expertise is simply large.” The problem for leaders, he says, is to remain centered on safety and operational excellence. And for Amazon? “Ensuring that we’re planning two, three, 4, 5 years out for capability.” And whereas boss Andy Jassy just lately warned staffers of AI-induced job cuts, Garman, who began at AWS as an intern 20 years in the past, says “there’s by no means been a extra thrilling time to be an intern.” In his view, “these instruments can immediately elevate them to doing a few of the extra fascinating work that beforehand they might not have been able to doing.” Extra information under.
Contact CEO Day by day by way of Diane Brady at diane.brady@fortune.com
Prime information
Trump will not be performed with Putin
The president gave a telephone interview to the BBC late final night time—actually rousing a BBC reporter from mattress—by which Trump mentioned he was not but “performed” with Russia’s Vladimir Putin, however reiterated that he feels the Russian chief has misled him. “I am dissatisfied in him, however I am not performed with him. However I am dissatisfied in him,” Trump mentioned. “We’ll have an excellent dialog. I will say: ‘That is good, I will suppose we’re near getting it performed,’ after which he’ll knock down a constructing in Kyiv.” Earlier, Trump gave Putin 50 days to finish the struggle or face 100% tariffs.
Trump: “I belief virtually no one”
Arguably essentially the most outstanding a part of the BBC’s Trump interview is the place reporter Gary O’Donoghue asks Trump if he trusts Putin and the president replies, “I belief virtually no one … to be trustworthy with you.” The lengthy pause between these two phrases seemingly speaks volumes.
If the Fed’s Powell is fired, anticipate “collapse”
Deutsche Financial institution revealed a observe discussing attainable market reactions of Trump succeeds in eradicating Jerome Powell from the U.S. Federal Reserve. “We imagine the market response could be massive,” the observe says. “The empirical and tutorial proof on the affect of a lack of central financial institution independence is pretty clear: In excessive instances, each the foreign money and the bond market can collapse as inflation expectations transfer larger, actual yields drop and broader threat premia improve on the again of institutional erosion.” Trump is making an attempt to make use of an arcane allegation about whether or not the Fed is following native guidelines within the refurbishment of its HQ as a purpose to defenestrate Powell.
Apple will launch a foldable telephone, UBS says
iPhone Fold could possibly be priced between $1,800 to $2,400, probably making it Apple’s costliest telephone up to now.
What Q2 earnings might say about tariffs
A number of the greatest banks and firms within the U.S.–from JPMorgan to Netflix– are anticipated to report quarterly earnings this week. Right here’s how they might function a sign of who is definitely bearing the burden of tariffs.
Musk believes BYD is profitable the EV race
The FT has a longread on how the Chinese language producer is now on the verge of surpassing Tesla.
Nvidia will resume gross sales in China
“The U.S. authorities has assured NVIDIA that licenses shall be granted, and NVIDIA hopes to begin deliveries quickly,” the corporate mentioned. The restart got here after CEO Jensen Huang personally made the case to President Trump.
Kenvue CEO resigns
Kenvue CEO Thibaut Mongon resigned all of a sudden on Monday, with board director Kirk Perry taking his place within the interim. Mongon’s departure from the dad or mum firm of manufacturers like Tylenol and Band-Support comes as activist traders demand stronger progress from the Fortune 500 firm.
Each Friday morning, the weekly Fortune 500 Energy Strikes column tracks Fortune 500 firm C-suite shifts—see the latest version.
New RTO mandate at Starbucks
Starbucks CEO Brian Niccol introduced a brand new coverage on Monday requiring that company staff work in-person not less than 4 days per week and company “individuals leaders” to maneuver to workplace areas in Seattle or Toronto inside a yr. “We’re reestablishing our in-office tradition as a result of we do our greatest work after we’re collectively,” Niccol wrote in a letter to staff.
The markets
S&P 500 futures rose 0.31% premarket and the underlying index rose 0.65% yesterday. Hong Kong’s Cling Seng was up 1.6% this morning. Japan’s Nikkei 225 was up 0.55%. Stoxx Europe 600 added 0.3% in early buying and selling. The UK’s FTSE 100 was flat in early buying and selling however poised to interrupt via the 9,000 degree for the primary time. Bitcoin sank 2.56% to $116K.
From the analysts
Deutsche Financial institution on Bitcoin: “Whereas volatility stays inherent, … Bitcoin’s integration into portfolios is maturing, and probably indicators a extra sustainable pattern past earlier situations of short-term market hypothesis,” per Marion Laboure and Camilla Siazon.
Pantheon Macroeconomics on the U.S. financial system: “The financial system will gradual additional within the second half, with annualized progress in GDP more likely to common about 1%, down from round 11/2% within the first half. Households’ actual after-tax incomes will stagnate, whereas elevated financial coverage uncertainty will weigh on funding and exports … So we anticipate a protracted Fed easing cycle, with charges falling by 75bp in H2 and an additional 75bp in 2026,” per Samuel Tombs and Oliver Allen.
Motley Idiot Asset Administration on copper tariffs: “The brand new copper tariffs are purported to assist the competitiveness of American members within the sector however will do no such factor. There are solely 2 smelters within the nation, and it’ll take 5+ years so as to add one other. The associated fee to construct shall be $6 billion per million tons of capability, and the worldwide smelter area is oversupplied and has terrible economics,” per Invoice Mann.
Across the watercooler
Elon Musk spent months slashing federal contracts — Now his AI firm is celebrating a $200M Pentagon contract and new unit to get authorities enterprise by Jessica Mathews
Amazon’s Prime Day celebratory recap was lacking one key metric that the tech large normally reveals by Jason Del Rey
Goldman Sachs doesn’t have to rent a $180,000 software program engineer—meet Devin, its new AI-powered employee by Preston Fore
The ‘Gen Z stare’ is greater than a TikTok pattern — it’s an actual downside within the office and the job market, by Nick Lichtenberg and Fortune Intelligence
CEO Day by day is compiled and edited by Joey Abrams and Jim Edwards.
