The Amped Journal

Hon Hai (Foxconn), Nvidia's server assembly partner, reported a stronger-than-expected increase in quarterly sales, according to Bloomberg, a sign that demand for AI infrastructure is holding up even as investors debate whether AI spending has become overextended.

OPEC+ delegates have reached a preliminary agreement for another modest oil production quota increase in August, Bloomberg reported, raising the prospect of more crude supply hitting the market if a US-Iran peace agreement can hold.

The number of vessels sailing through the Strait of Hormuz along the Omani coast fell to a trickle on Sunday, a day after several ships exiting along that route made sharp reversals, according to Bloomberg. The strait is a critical chokepoint for global oil shipments, and reduced traffic often signals heightened regional tension.

Whiskey distiller Brown-Forman is in talks over a $30 billion tie-up, which Bloomberg Breakingviews columnists say points to broader troubles across the alcohol industry as consumer tastes shift away from traditional spirits.

China is investing millions of dollars in Buddhism to expand its influence across Asia, challenging India's longstanding claim to the faith, according to Bloomberg. The push is alarming US officials as the succession of the Dalai Lama, exiled in India, nears.

Bloomberg Opinion columnist Max Hastings wrote that if the West fails to keep artificial intelligence and nuclear weapons systems separate, the odds against Western civilization enduring become significantly shorter, adding to a growing set of warnings from national-security commentators about AI's potential entanglement with nuclear command and control.

Three sons of Iran's late Supreme Leader Ali Khamenei appeared at his funeral this week, but no successor has been named or appeared at the state services, according to Reuters. Iran's clerical Assembly of Experts is responsible for selecting his replacement, leaving an open question over who will next lead the Islamic Republic's religious and political establishment.

Taiwan's military has resumed "anti-communist" classes for graduates, according to Reuters, citing the continuing threat from China. The move revives a Cold War-era practice as Beijing keeps up military and diplomatic pressure on the self-governing island.

President Trump delivered his Salute to America speech at the National Mall on July 4th after a weather delay pushed his remarks to 11 p.m. He honored Medal of Honor recipient Colonel Paris Davis, saying Davis "won eternal glory in Vietnam" after leading a surprise attack against 100 enemy combatants despite suffering multiple wounds, and separately warned that domestic threats to America must be "cut out fast," likening them to communism "like a cancer."

Pope Leo XIV visited the Italian island of Lampedusa, a frequent landing point for migrants crossing the Mediterranean, on the same day the US marked its 250th anniversary of independence. He urged the world to treat migrants with greater humanity and called on Americans to welcome and protect immigrants, framing it as a Catholic value of defending life, according to Reuters.

BL Companies, an employee-owned architecture, engineering, environmental and land-surveying firm, opened a new Wilmington office about eight miles east of its former Castle Street location. The larger space, part of a mixed-use complex in the Middle Sound West development built by Wilmington-based Tribute Companies, will let the firm triple its Wilmington headcount, according to CEO Carolyn Stanworth. The office previously offered only architecture services; the firm now plans to add additional disciplines there.

Coastal Beverage Company plans to add more than 100,000 square feet of warehouse space to its distribution facility in Pender Commerce Park, growing the building to nearly 258,000 square feet, according to site plans set to go before Pender County's Technical Review Committee. The distributor, founded in 1960, opened the existing 27-acre facility in 2019 and handles beer, wine and non-alcoholic beverages including Miller Lite and Seagram's brands across Wilmington, Farmville and Elizabeth City.

UNCW's Center for Innovation and Entrepreneurship will host a July 20 information session on NC IDEA's MICRO and SEED grants for the fall 2026 cycle, free but requiring registration. On September 10, the Network for Entrepreneurs (NEW) holds its annual "Buzz In" investor event at Cape Fear Community College's Union Station auditorium, which NEW founder Jim Roberts calls the only venture capital conference east of Raleigh. Both add to a busy July calendar that already includes NEW's July 23 venture studio session featuring Amped Ventures' Matt Cimino.

A StarNews opinion piece argues North Carolina's newly passed state budget falls short for many residents, citing low pay raises for state workers, questionable hospital funding decisions, and a lack of transparency in how the budget was negotiated.

The Powerball jackpot climbed to $396 million for the July 4 drawing, prompting players across the region to check their tickets against Saturday's winning numbers.