Investing.com-- Gold prices rose in Asian trade on Friday but were nursing steep losses through the week as traders remained largely biased towards the dollar before more cues on interest rates in the coming days.

Chip stocks continue their sector-wide slide, following a tech sell-off triggered by disappointing reports from some Magnificent 7 companies. Moor Insights & Strategy founder, CEO, and chief analyst Patrick Moorhead joins Morning Brief to discuss the semiconductor industry's current state. Moorhead observes that due to the chip sector's strong momentum over the past year, "any hiccup, any rumor of something" can trigger a stock decline. He suggests this downturn presents an opportunity for investors to identify potential high-growth companies beyond industry giants like Nvidia (NVDA), Broadcom (AVGO), and Intel (INTC). Moorhead advises investors to "look at a mid-term and even... long-term approach of where those stocks are going or could go," highlighting companies such as Qualcomm (QCOM). Regarding industry trends, Moorhead notes that many companies are pivoting towards AI, often at the expense of other initiatives. "They want their IT groups to pivot to generative AI. And a lot of this is about FOMO, it's the fear of missing out," he explains. This shift in focus is creating a divide in the market: "That's why you see companies that aren't engaged in the generative AI wave are seeing very mixed results." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith

Mayor Steven Fulop said he had been a “long-time believer“ in crypto but did not appear to have mentioned Bitcoin or other tokens before July 25.

Bitcoin layer 2s could be collectively worth around $7.6 trillion, the report added.

The most significant contributions came from Gemini co-founders Cameron and Tyler Winklevoss, who announced their support for the Republican candidate on X.

The $4.5-million fine could signal the start of more scrutiny for crypto exchanges in the region.

Latvia’s minister of economics, Viktors Valainis, shared insights on the country’s vision for a tech-driven future and new crypto laws and blockchain initiatives aimed at transforming its economy.

Regulatory hurdles continue to pose a major challenge to tokenization adoption. Edwin Mata, CEO and co-founder of Brickken, spoke about the collaboration with EU regulators and the technology's potential.

India’s NCB forms a special task force and initiates digital forensics training to tackle the growing misuse of cryptocurrencies in drug trafficking.

The ChatGPT maker reportedly will spend some $7 billion on AI testing this year.