Evening Scan

Markets moved on three fronts today: the Strait of Hormuz, Fed minutes, and AI funding. The headline was steady macro drift. The actual pattern was more fragile.

$412.7B — U.S. venture capital deployed in the first half of 2026 alone, nearly 30% more than all of last year, almost entirely on AI bets. (PitchBook via SiliconANGLE)

Oil Prices Remain Elevated Amid Shipping Traffic Slowdown in Strait of Hormuz (paywall)

Ship transits through the strait halved on Wednesday — a real chokepoint stress test, not a blip. (NYT)

At Warsh's First Fed Meeting, Some Officials Signaled Support for Raising Interest Rates (paywall)

Inflation at a three-year high and a new chair's first meeting producing hawkish language is the combination markets did not want to see. (NYT)

PitchBook: US Venture Funding Hits $412.7B in First Half as AI Deals Dominate

The AI infrastructure bet is either the most rational capital allocation on record, or a peak moment before the inflection point becomes obvious. (SiliconANGLE)

The FTC Settles with John Deere Over Right-to-Repair, Requiring 10 Years of Access

Farmers secured a decade of guaranteed access to their own equipment's software — a durable win for the repair movement that received little attention today. (Wired)