BofA will acquire a 49.9% stake in a Jio Financial subsidiary for about $1.9 billion.

Omdia says sustained AI demand outstripping global supply has driven strong DRAM and NAND growth and prompted it to lift its 2026 global semiconductor revenue forecast to +94.1% YoY. Memory ICs are expected to account for over 50% of total semiconductor revenue in 2026. Omdia warns AI demand already exceeds current chip fabrication and packaging capacity; bottlenecks in HBM, advanced packaging and leading‑edge process capacity are expected to persist at least through 2027.

US MBA mortgage purchase index for the week ended Aug. 7: 157.9, up from 154 previously.