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Techmeme

The debate over Moonshot AI founder Yang Zhilin's departure from the US misses a larger structural reality: China has built a homegrown AI talent pipeline (Zijing Wu/Financial Times)

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Sources: Shanghai-listed chip test instruments maker Semight, whose stock is up ~2,200% since its April debut, is considering a secondary listing in Hong Kong (Bloomberg)

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Francisco Partners' co-founder Dipanjan Deb says "AI will not kill the software industry" as the tech-focused PE firm raised $21B, exceeding its $18B target (Antoine Gara/Financial Times)

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Sources detail how Commerce Secretary Howard Lutnick and crypto adviser Bo Hines worked to shape the GENIUS Act and loosen safeguards to benefit Tether (Bloomberg)

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A study of 11,989 Polymarket users finds 61% placed fewer than 100 trades over a six-week period, with 58% making or losing less than $100 during that period (Kaitlyn Radde/Pew Research Center)

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US GAO study: Amazon workers on federal aid tripled from February 2020 to September 2025; ride-hailing and delivery apps topped employers with workers on aid (Washington Post)

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Meta's infrastructure teams have become bloated, leading to poor decisions like troubled Rivos acquisition, loss of supplier trust due to hardware pivots, more (SemiAnalysis)

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Tesla reports a negative Q2 free cash flow of $1.1B, its first in over two years, partly due to increased AI and robotic investments, amid diminishing profits (Reuters)

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Google reports Q2 free cash flow at negative $5.9B amid increased AI spending, marking its first cash burn since going public decades ago (Ryan McMorrow/Financial Times)

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Sources: OpenAI staff were "freaked out" when GPT-Sol 5.6 breached Hugging Face, as OpenAI used more aggressive training methods to compete with Anthropic (Financial Times)

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The Little Tech Association, a new group of ~200 companies across the startup community, including Y Combinator, urges Trump not to ban Chinese open-weight AI (Sophia Cai/Politico)

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Movement Labs, a layer-2 Ethereum blockchain developer, files for Chapter 11 bankruptcy after a period of upheaval that included a token scandal and Binance ban (CoinDesk)

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Google projects full-year capex will be $195B to $205B in 2026, after saying in April that it will spend as much as $190B; its Q2 capex hit $44.92B, up 100% YoY (Julia Love/Bloomberg)

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Google says its cloud computing unit had a $514B backlog of contracted work that hasn't been recorded as revenue yet, up from ~$460B held during Q1 (Julia Love/Bloomberg)

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ServiceNow reports Q2 subscription revenue up 24.5% YoY to $3.88B, increases full year subscription revenue growth estimate to 23%; NOW jumps 4%+ after hours (Brody Ford/Bloomberg)

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The SEC agrees to pay $150,000 in legal fees to end Coinbase's 2024 lawsuit seeking internal docs on the regulator's Biden-era crackdown on the crypto industry (Nicola M White/Bloomberg)

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Google says Gemini now has 950M MAUs, up from 900M in May and 750M in February (Emma Roth/The Verge)

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IBM reports Q2 revenue up 1% YoY to $17.2B, vs. $17.6B est., infrastructure revenue down 7% to $3.8B, Z mainframe revenue down 42%, and lowers its 2026 forecast (Jordan Novet/CNBC)

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Reddit's stock closed down 8.32% after a report that the company was considering ending Google's access to its content for AI training; RDDT is down ~26% YTD (CJ Haddad/CNBC)

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Alphabet reports YouTube's Q2 ad revenue rose 13% YoY to $11.06B, vs. $10.8B est., and Google's ad revenue reached $81.63B, up from $71.34B in Q2 2025 (Todd Spangler/Variety)

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Alphabet reports Q2 revenue up 24% YoY to $119.8B, above $116.9B est., Google Cloud revenue up 82% YoY to $24.8B, and Services revenues up 15% to $94.5B (Alphabet)

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OpenAI President Greg Brockman says Kimi K3 is a "pretty good model" but it is "too early" to tell whether Moonshot used distillation on OpenAI's models (Shirin Ghaffary/Bloomberg)

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Source: Stripe revenue jumped by a third to $6.8B in 2025, its fastest revenue growth since 2021, with free cash flow up 52% to $3.2B (Yueqi Yang/The Information)

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Travis Kalanick's robotics startup Atoms raised $1.7B led by a16z, with Uber and others participating; Ben Horowitz will join the startup's board (Sean O'Kane/TechCrunch)

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A Florida teenager drops his lawsuit accusing Meta of creating harmful social media features, following settlements with co-defendants TikTok, Snap, and YouTube (New York Times)

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Yope, a social network that has ~15M registered users for its "micro communities" and no algorithms, ads, or public content, raised $12.3M seed led by Northzone (Sarah Perez/TechCrunch)

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Sources: Cathedral, launched by ex-DOGE staffers to use AI to expand US military cyber capabilities, raised $160M led by a16z and Sequoia at a $1.4B valuation (David Jeans/Reuters)

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Genius AI, formerly GlossGenius, which pivoted from a salon management platform to offer AI tools for service SMBs, raised a $44M Series D at a $1.15B valuation (Emma Hinchliffe/Fortune)

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Cashea, Venezuela's largest fintech startup, which offers a banking and payments app, raised a $40M Series A, including $20M in debt, and a $60M Series B (Maria Clara Cobo/Bloomberg)

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Arcee, which develops open-weight models in the US, partners with the Department of Energy to build Genesis-Science-1, an open model for scientific research (Catherine Perloff/The Information)

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A US judge dismisses Google's lawsuit against web scraping service SerpApi, saying plain and aggregated search results are not protected under copyright law (Barry Schwartz/Search Engine Roundtable)

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White House OSTP Director Michael Kratsios says Moonshot AI "acquired GB300-equipped servers and has accessed GB300s in Thailand, likely to train its AI models" (Maggie Eastland/Bloomberg)

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Meta names Assaf Keren, a former chief security officer at Qualtrics and a former CISO at PayPal, as its next CISO, succeeding Guy Rosen, who will leave in 2026 (Riley Griffin/Bloomberg)

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OpenAI introduces OpenAI Presence to help companies better connect AI agents to their internal systems and automate customer support, sales, and other tasks (Business Insider)

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White House OSTP Director Michael Kratsios says "we have information that Moonshot AI distilled Anthropic's Fable for the development of its K3 model" (Director Michael Kratsios/@mkratsios47)

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Xbox expands its backward compatibility program to PC, starting with four classic original Xbox games, offering 4X resolution scaling, V-Sync support, and more (Jez Corden/Windows Central)

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Filing: Monday.com plans to cut 20% of its workforce, or ~600 employees, in H2 2026 to "support a leaner, more focused operational model" as it invests in AI (Martin Peers/The Information)

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Sources: Apple is set to debut new versions of every Mac, including long-awaited iMac updates, a revamped MacBook Pro, and a new Neo, across the fall and 2027 (Mark Gurman/Bloomberg)

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London-based Arrakis, which makes AI agents for industrial companies, emerges from stealth with a $7.5M seed and a $30M Series A at a $140M post-money valuation (Jeremy Kahn/Fortune)

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Samsung teases its smart glasses, developed with Google, Warby Parker, and Gentle Monster, and says they will have a nine-hour battery life and privacy features (Chris Welch/Bloomberg)

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Samsung Galaxy Z Fold 8 hands-on: the passport-esque shape feels great and is almost immediately intuitive, but no telephoto lens, IP48, and $1,900+ is pricey (Dominic Preston/The Verge)

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Meta updates WhatsApp's CarPlay and Android Auto integrations to include message playback, replies, and more, let users sign up from its iPad app, and more (Aisha Malik/TechCrunch)

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Samsung Z Fold 8 Ultra hands-on: its new Flex Titanium tech makes the crease practically nonexistent and the specs match the S26 Ultra's, but it costs $100 more (David Imel/The Verge)

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Samsung Galaxy Z Flip 8 hands-on: like the Z Flip 7, including the battery and cameras, but with much faster performance, four colors, and a $100 higher price (Max Buondonno/The Shortcut)

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Samsung Galaxy Watch 9 and Ultra 2 hands-on: nice improvements with a rugged look and new AI-powered fitness features, but a blockier shape is not for everyone (Damien Wilde/9to5Google)

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Source: OpenAI raised its projected cloud spending to ~$750B through 2030, up from its ~$600B projection earlier in 2026, reflecting its new cloud compute deals (Anissa Gardizy/Wall Street Journal)

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OpenAI plans to spend $30B+ on a massive new data center in Georgia, securing 3.2GW of energy, with several hundred MWs set to come online starting in 2028 (Dina Bass/Bloomberg)

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Samsung says the Galaxy Z Fold 8, Galaxy Z Fold 8 Ultra, and Galaxy Z Flip 8 have silicon-carbon batteries, citing their performance, longevity, and safety (Ben Schoon/9to5Google)

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Samsung unveils the Galaxy Watch 9 and Watch Ultra 2, moving from its Exynos chips to the Snapdragon Wear Elite and hiking prices by $30 to $380 and $50 to $700 (Victoria Song/The Verge)

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Samsung debuts the $1,200+ Galaxy Z Flip 8 with a lighter, smaller, and slimmer design, and new Flex Window features for apps and insights on the cover screen (Steve Dent/Engadget)

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