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Microsoft stock had best day in ~20 years, Amazon posts higher cloud revenue, higher ad revenue and higher infrastructure spending, Oregon Governor Kotek killed $5B Salem data center, fire danger in Bitterroots ticks higher, Washington asks federal government for $76M in road funding, Idaho seeking opportunity zone status for tax breaks.

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PNW Market Look

As of market close 7.30.26

Reddit shares sink 11% on ‘choppy’ search referrals even as results blow past estimates (CNBC)

Jersey Mike’s stock falls 6% in public market debut after pricing shares at $23 (CNBC)

Headline Roundup

Microsoft Posts Biggest One-Day Market-Cap Gain for Any U.S. Company (WSJ)
Amazon beats cloud sales growth estimates; shares jump (Reuters)
Trail Blazers demand more than arena funding in Portland City Council appearance (OPB)
Blazers president says threat of litigation was ‘wielded as a weapon’ in Moda Center talks (ORL)
Oil Terminal Operator Sues City of Portland for Delaying Transfer of Franchise Agreement (WW)
In a rare Mercer Island sale, for $157M, Mesirow makes big TOD bet (DJC)
Designs unveiled for $31M Loyal Heights Community Center renovation (DJC)
Idaho to submit ‘Opportunity Zone’ proposals seeking tax breaks for economic development (IDP)
A startling share of working Oregonians can’t afford life’s basics, new study shows (ORL)
A Portland church sold 5 acres. Soon, 52 affordable homes will rise there (ORL)
WA home insurance rates skyrocket (ST)
Seattle’s infrastructure needs billions in repair. The library is just the start (ST)
PSU asks city to commit $44M for new arts venue amid Keller debate (PBJ)
Washington asking feds for $76M for flood damage to highways (WSS)
Kotek cancels contract for controversial Salem data center project land (PBJ)
Average 30-year US mortgage rate rises to highest level in a year at 6.66% (Ground)
Amazon hikes 2026 capex to $220 billion due to higher memory costs (CNBC)
Haggen-anchored shopping center in Oak Harbor sells to Arizona investor (PBJ)

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Community Highlight

Seattle Mayor Katie Wilson announces SPD Chief Shon Barnes’ resignation (KOMO)

Helena to seek voter approval for additional firefighters and police officers (MTFP)

Rip’s Spotlight

AI investor Leopold Aschenbrenner forced to unwind all public stock positions after steep losses, sources say (CNBC)

Speculation on Timeline:

Citadel posts expectation that Fed raises interest rates; stocks go down.
Fed leaves interest rates the same, but the drop in stock prices triggered a liquidation for Aschenbrenner’s fund (Situational Awareness)
Citadel buys entire portfolio from Situational Awareness for pennies on the dollar
this is developing.

“The unwind comes at an unfortunate time for Aschenbrenner, who is getting married this weekend, two sources confirmed. Aschenbrenner is engaged to Avital Balwit, chief of staff for Anthropic CEO Dario Amodei, according to an October profile in Fortune.

The battered hedge fund founded by former OpenAI researcher Leopold Aschenbrenner is unwinding many of its trades after big losses on artificial intelligence stocks and a bad bet against software stocks left it scrambling to raise cash, according to people familiar with the matter.

Situational Awareness has sustained significant losses in recent weeks as its portfolio of AI infrastructure investments such as SK Hynix declined while short positions in software companies such as Adobe moved sharply against it, the people said.

The fund grew to as big as $45 billion at the start of July before big losses took hold, according to a person familiar.”