In an oversaturated market for AI companies, these startups have the best shot at surviving

1. Woah, we’re halfway there! Unwinding the widely popular carry trade that relied on the Japanese yen . That means employees may have to brace themselves for brutal layoffs and kiss goodbye that four-day workweek dream.
2. Uber is on the up. After years of losses, the company reported better-than-expected second-quarter earnings on Tuesday. Its core business, ride sharing, is booming and its delivery bets are paying off. Plus, Uber’s ad business hit a $1 billion annual run rate — and there’s still room to grow.
3. Elon Musk’s war with advertisers just hit a turning point. X is suing a group of advertisers, accusing them of violating antitrust law through an advertising boycott. The platform has lost billions in ad revenue since their departure.

In other news

• Google, Netflix, and OpenAI execs are hosting a fundraiser for Kamala Harris.
• Even Nvidia can’t escape the government’s crackdown on Big Tech.
• A future-of-work expert explains why some companies are willing to risk losing talent to get workers back to the office.
• Assigned desks are now a work perk — and Gen Zers are making themselves right at home.
• The New York Times and other top news sites block OpenAI’s new SearchGPT web crawling bot.

What’s happening today

• Fortune 500 ranking of world’s largest corporations released.
• First batch of Chinese G60 Starlink satellites reportedly launches today. The endeavor is in direct competition with the US’s Elon Musk-backed Starlink.

The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Annie Smith, associate producer, in London. Amanda Yen, fellow, in New York.