Good morning. AI's steady encroachment into all aspects of the workplace now has a theme song. Or many. And you may hear them the next time you are on hold or even working out to your favorite fitness app.

Startup ElevenLabs—best known for its voice generation software—said it has launched a new service called Eleven Music that lets businesses generate their own music. 

Also today we look at the mounting evidence of AI's breakout quarter for company earnings. It's not just the Big Tech players that are generating growth from AI. We look at data analytics giant Palantir as well as IBM spinoff Kyndryl which is helping companies get ready for the age of AI.

How Eleven Music works. A store owner, for example, could enter a prompt in plain English, such as “create a smooth jazz song with a ‘60s vibe and powerful lyrics." In short time, the tune could be greeting shoppers in the aisles. 

ElevenLabs said it trained its AI model on artists’ work whose rights are represented by Merlin Network, a digital rights agency for independent labels.

Still the service underscores AI's disruptive power: Even stock music is not safe. 

The American Society of Composers, Authors and Publishers, a performing rights organization that represents over one million people in those fields, tells the WSJ Leadership Institute's Belle Lin that AI is both exciting, and sobering.

“AI can be a tool for innovation, but only if technology companies play fair and respect the rights of human creators,” said Ascap Chief Executive Elizabeth Matthews.

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Palantir Technologies, which sells software to centralize, manage and analyze large amounts of data, reported revenue above $1 billion—its largest quarterly haul since going public five years ago, WSJ's Heather Somerville reports. The company reported 53% growth in earnings from U.S. government contracts in its second-quarter earnings, the latest sign that the company is getting a boost from the Trump administration’s push to hasten adoption of AI technology. 

Kyndryl, spun off from IBM in 2021, delivered sharply higher profit in its latest quarter, propelled in part by demands from customers to ready their infrastructure and workforces for AI. 

Taiwan Semiconductor Manufacturing Co., the world’s largest contract chip maker, said it has taken disciplinary action against employees involved in a potential leak of sensitive information that could undermine its technological leadership. It didn’t specify the exact technology involved.

Index Ventures, a venture firm with origins in Europe, is making it rain. A string of large startup exits that includes Figma's IPO could send more than $11 billion in proceeds to the firm and its limited partners, WSJ's Yuliya Chernova and Berber Jin report. Index also struck gold with Meta's recent investment in Scale AI, which paid out shareholders, and Google’s pending acquisition of cybersecurity company Wiz.

Tesla awarded the world’s richest man a stock award tentatively valued at $23.7 billion to stick around, the WSJ reports. The electric-vehicle maker said its “interim award” of 96 million shares will vest as long as Elon Musk remains on the job as chief executive or under another executive title heading product development or operations for at least two years.

The White House is preparing to step up pressure against big banks over perceived discrimination against conservatives and crypto companies with an executive order that threatens to fine lenders that drop customers for political reasons. (WSJ)

Nearly 10 million American children are living in poverty, the most since 2018, according to the latest Census Bureau figures from 2023. (WSJ)

President Trump’s high-stakes push to create more Republican House seats and keep the majority from flipping to Democrats has erupted into a cross-country fight, prompting the exodus of Democratic state lawmakers from Texas and leading blue-state governors to hatch their own plans. (WSJ)

The WSJ CIO Journal Team is Steven Rosenbush, Isabelle Bousquette and Belle Lin.

The editor, Tom Loftus, can be reached at thomas.loftus@wsj.com.