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Sources: Cerebras plans to raise its IPO price range from $115-$125 per share to $125-$135 after drawing orders for more than 20x the number of shares available (Bloomberg)

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A hack of Instructure's Canvas locked out students at schools and universities across the US in the middle of finals period; some US colleges postponed exams (Associated Press)

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Sources: Isomorphic Labs, an AI-powered drug discovery company spun out of Google DeepMind, is in advanced talks to raise $2B+ led by Thrive Capital (Bloomberg)

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Akamai says it struck a seven-year cloud computing deal with a "leading frontier model provider"; sources: the deal was with Anthropic and is worth $1.8B (Rachel Metz/Bloomberg)

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Interviews with Intel CEO Lip-Bu Tan and other execs about the challenges of a turnaround, along with efforts to instill a sense of urgency in the organization (Ian King/Bloomberg)

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Sources: Apple and Intel have reached a formal deal in recent months for Intel to manufacture some chips for Apple devices; INTC jumps 15%+ (Wall Street Journal)

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OnlyFans agrees to sell a ~16% stake to Architect Capital for $535M in a deal that values the company at about $3.15B (Olivia Solon/Bloomberg)

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Investor letter: TCI, one of the world's biggest hedge funds, cut almost all of its $8B Microsoft stake, citing AI risks primarily for Office and some for Azure (Costas Mourselas/Financial Times)

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Whoop plans to offer US users on-demand, in-app video consultations with licensed clinicians, and adds electronic health records and AI-powered health guidance (Brandon Gomez/CNBC)

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Sony reports a $765M impairment loss due to Marathon developer Bungie's underperformance during its FY ending March 31, 2026; Sony acquired Bungie in early 2022 (Wesley Yin-Poole/IGN)

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Sources: DeepSeek seeks to raise up to ~$7.3B at a $50B+ valuation in its first-ever funding round and CEO Liang Wenfeng could make a ~$2.9B personal investment (The Information)

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European Central Bank President Christine Lagarde expressed skepticism over the need for euro-pegged stablecoins, saying they could hamper the ECB's work (Reuters)

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Substack says paid subscriptions to creators in the UK, its second-largest market, hit 500K+; global paid subs hit 5M+, with 50+ creators earning $1M+ annually (Lily Ford/The Hollywood Reporter)

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Filing: Lime files for an IPO, reporting $886.7M in 2025 revenue, up from $686.6M in 2024, and a $59.3M net loss, up from $33.9M; it was valued at $510M in 2020 (Jordan Fitzgerald/Bloomberg)

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Nintendo reports Q4 revenue of ~$2.60B, below ~$2.75B est., net profit of ~$416M, above ~$403.68M est., and forecasts a decline in FY 2027 Switch 2 unit sales (Arjun Kharpal/CNBC)

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Datadog closed up 31%+ on May 7 after reporting Q1 revenue up 32% YoY to $1B and raising its FY revenue forecast, a software industry outlier amid the AI boom (Mike Wheatley/SiliconANGLE)

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Sony reports Q4 revenue up 8% YoY to ~$19.4B, above ~$18.4B est., ~$1.06B operating profit, below ~$1.7B est., and forecasts FY 2027 net profit up 13% to ~$7.4B (Kai Nicol-Schwarz/CNBC)

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Sony and TSMC announce a joint venture to build next-gen robot and car image sensors, as Sony moves from in-house manufacturing to a more asset-light approach (Bloomberg)

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Musk v. Altman docs: Microsoft executives had reservations about funding OpenAI in 2018 but worried that not giving support could push OpenAI into Amazon's arms (Wired)

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Sources: the US suspects OBON, a key company behind Thailand's national AI effort, of smuggling Super Micro servers with export-controlled Nvidia chips to China (Bloomberg)

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Nintendo says it will increase the price of the Switch 2 globally on September 1, from $450 to $500 in the US, and the price of the original Switch in Japan (Bloomberg)

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Surveys: half of US adults under 50 get health info from influencers or podcasts; 86% of health influencers are on Instagram, 62% on TikTok, and 45% on YouTube (Pew Research Center)

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Analysis: the combined free cash flow of Amazon, Alphabet, Microsoft, and Meta is expected to fall to ~$4B in Q3 and hit its lowest full-year level since 2014 (Financial Times)

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Filings: Baidu's AI chip unit Kunlunxin is planning a dual IPO in Shanghai and Hong Kong, sources say valuing it at $14.69B+; Baidu has a 58% stake in Kunlunxin (Bloomberg)

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Fintech app Toss, used by ~66% of South Korea's 51M people, says its FacePay service, available at 330K retail outlets, has attracted 4.8M users since September (Financial Times)

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Sources: SK Hynix's big customers have been proposing a range of offers to secure memory chip supplies, including investing in dedicated chip production lines (Reuters)

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Instructure disables its Canvas edtech platform, used by thousands of schools and universities, amid a data extortion attack claimed by ShinyHunters (Brian Krebs/Krebs on Security)

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Sony reports 1.5M PS5 unit sales in Q4, down 46% YoY, and forecasts annual sales at its gaming business to fall 6% YoY to $1.69B, amid memory chip price surge (Sam Nussey/Reuters)

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Sources: Anthropic weighs raising as much as $50B at a ~$900B pre-money valuation, likely closing within two months; its annualized revenue is nearing $45B (Financial Times)

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Sources: White House unease over Mythos has left some administration officials fearful that the change represents a reversal of its hands-off AI policy (Wall Street Journal)

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OpenAI is rolling out GPT-5.5-Cyber, a security-focused variant of the model, in a limited preview capacity to vetted cybersecurity teams (Sam Sabin/Axios)

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A US judge blocks DOGE's termination of $100M in National Endowment for the Humanities grants, saying ChatGPT prompts used to decide the cuts were ill-defined (Zoe Tillman/Bloomberg)

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Mozilla says Anthropic's Mythos Preview and other AI models helped it identify and ship 423 Firefox security bug fixes in April, compared to 31 a year earlier (Russell Brandom/TechCrunch)

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Sources: AI model builder Core Automation, founded in March by Jerry Tworek, aims to raise $300M-$500M at a $4B valuation after raising $100M at a $1B valuation (The Information)

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MercadoLibre reports Q1 revenue up 49% YoY to $8.8B, vs. $8.4B est., and net income down 16% to $417M, vs. $433M est.; MELI drops 5%+ after hours (Bloomberg)

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French prosecutors escalate an investigation into Elon Musk and X, focused on alleged algorithmic manipulation and sexual deepfakes, to a criminal probe (Lora Kolodny/CNBC)

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Block reports Q1 revenue up 5% YoY to $6.1B, vs. $5.9B est., and raises its 2026 gross profit forecast above estimates; XYZ jumps 7%+ after hours (Isabelle Lee/Bloomberg)

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Lyft reports Q1 revenue up 14% YoY to $1.65B, vs. $1.63B est., gross bookings up 19% to $4.95B, vs. $4.91B est., and rides up 8.5% to 236.9M, vs. 241.2M est. (Kelly Cloonan/Wall Street Journal)

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CoreWeave reports Q1 revenue up 112% YoY to $2.08B, vs. $1.97B est., a $99.4B revenue backlog, forecasts Q2 revenue below estimates; CRWV drops 8%+ after hours (Jordan Novet/CNBC)

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Nvidia and data center operator IREN announce a deal to deploy up to 5 GW of AI infrastructure; Nvidia can invest $2.1B into IREN; IREN jumps 9%+ after hours (Jonathan Vanian/CNBC)

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Cloudflare reports Q1 revenue up 34% YoY to $639.8M, plans to cut 1,100+ jobs as it shifts to an "agentic AI-first operating model"; NET drops 13%+ after hours (Ignacio Gonzalez/Bloomberg)

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Airbnb reports Q1 revenue up 18% YoY to $2.68B, vs. $2.62B est., Nights and Seats Booked up 9% to 156.2M, vs. 155.77M est., lifts 2026 revenue growth guidance (Samantha Subin/CNBC)

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Coinbase reports Q1 revenue down 31% YoY to $1.41B, vs. $1.52B est., and a loss of $1.49 per share, vs. a $0.27 profit est.; COIN drops 4%+ after hours (CNBC)

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Goldman Sachs: Alphabet and Amazon generated "other income" totaling $53B in Q1, or ~60% of their Q1 income; $49B was due to equity stakes in private companies (Robin Wigglesworth/Financial Times)

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Sources: OpenAI and Broadcom discuss terms for Broadcom to finance initial custom chip production for ~$18B, conditioned on Microsoft buying ~40% of the chips (Anissa Gardizy/The Information)

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Anthropic researchers detail "natural language autoencoders", which convert LLM activations, the numbers encoding a model's thoughts, into natural language text (Anthropic)

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Sources: Ramp told investors it is raising $750M co-led by Iconiq Capital and GIC at a valuation of $40B+ before the investment, up from $32B in November 2025 (Kate Clark/Wall Street Journal)

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EU legislators reach a deal to postpone restrictions on high-risk AI until December 2027 and to exempt the use of AI in industrial applications from the AI Act (Pieter Haeck/Politico)

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While Anthropic will use the Colossus 1 data center, which has a really bad environmental record, xAI retains the larger Colossus 2 for its own AI training (Simon Willison/Simon Willison's Weblog)

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Sources: AirPods with cameras reached an advanced testing stage; the cameras will feed data to Siri to help answer questions, rather than take photos or video (Mark Gurman/Bloomberg)

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