Amazon is facing a class-action lawsuit alleging its Twitch platform used streamers’ videos to train AI models without permission or proper compensation. Filed by a Connecticut-based streamer, the complaint is brought on behalf of millions of creators seeking damages. It also asks the court to bar Amazon from continuing the alleged practice. Amazon bought Twitch for nearly $1bn (£740m) in 2014 and has made AI a major focus as it competes with Google, Meta and other tech companies.

The crypto market saw a major influx of capital totaling $2.6 billion. Against that backdrop, Bitcoin surged 24% over a short period. The move signaled a sharp rebound in market sentiment, with heavy buying triggering a rare single-day spike in Bitcoin.

India’s domestic sugar prices have jumped more than 15% in a month, with retail prices topping Rs 60 per kg and rising over 20% year on year. Flooding in some states and inadequate rainfall in others have reduced sugarcane harvests, tightening supply and pushing prices higher. In response, the government has approved duty-free imports of 1 million metric tons of raw sugar for the first time in nearly 10 years to help cool domestic prices.

Strategy raised about $2 billion last week by selling 18.26 million MSTR shares and repurchased about 1.43 million STRC preferred shares for $136.4 million. The company added $300 million to its US dollar reserve and placed the remaining proceeds into a newly launched US dollar cash account holding $1.59 billion. As of Sunday, the reserve stood at $5.1 billion, bringing total cash across the two pools to $6.69 billion. Strategy made no Bitcoin purchases or sales during the week, keeping its holdings at 840,447 BTC.

Bitmine Immersion Technologies (BMNR) disclosed that its Ethereum (ETH) holdings have reached 5.85 million tokens. The company said its combined crypto and cash holdings total $14.9 billion. The figures outline the company’s current asset mix and scale as part of its public financial disclosures.

Vivek Ramaswamy’s asset manager Strive has purchased 1,100 Bitcoin valued at about $85 million. The transaction has been publicly reported. It was described as a large, institutional-scale on-chain or over-the-counter buy.

IBM has introduced a next-generation dual-architecture mainframe processor that can natively run both Arm and IBM Z workloads on the same core. The 11-core chip can switch modes dynamically and is positioned to make it easier for enterprises to bring Arm-native Linux software into mainframe environments while tapping an ecosystem of more than 22 million Arm developers. IBM says the Arm capabilities deliver 100% binary compatibility and will be used in future IBM Z and LinuxONE systems to support enterprise AI use cases.

Xpeng reported unaudited second-quarter revenue of 19.74 billion yuan, up 8.0% year on year and 51.5% from the prior quarter, landing near the lower end of its guidance range. Gross margin improved to 20.7%. Net loss widened to 1.34 billion yuan, up 179% from a year earlier but narrower than the first quarter, while non-GAAP net loss was 1.24 billion yuan.