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Techmeme

Sources detail frustration inside Meta's Applied AI team, formed in March to support Superintelligence Labs, over menial projects, "soul-crushing" work, more (Wired)

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The US DOJ approves Paramount's $111B purchase of WBD without forcing divestitures or behavioral remedies; state AGs could still try to block the move (Yasmin Khorram/Politico)

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Sources: three ex-DOGE staffers are raising $130M from a16z, Sequoia, and others for a startup that aims to use AI to secure government systems (Vanity Fair)

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KPMG retracts a report on AI's benefits after it has been found to exaggerate AI adoption with case studies that appear to have been based on AI hallucinations (Financial Times)

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Sources: Roku is in talks to sell itself; its shares have risen about 24% this year, giving the company a market value of $19.9B; ROKU jumps 20%+ after hours (Bloomberg)

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Staff memo: Meta plans to limit employee token usage and encourage employees to use MetaCode, after internal AI spending forecasts reached billions for 2026 (Jyoti Mann/The Information)

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Sources: SpaceX decided to rent its Colossus 1 data center to Anthropic after internal teams struggled to use it for Grok development due to latency issues (Edward Ludlow/Bloomberg)

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Sources: Microsoft considered spinning out or restructuring its Xbox unit as a wholly-owned subsidiary, or creating a joint venture with other partners (Aaron Holmes/The Information)

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A profile of former Google DeepMind employee Thibault Sottiaux, now OpenAI's head of core products tasked with combining ChatGPT and Codex into a super app (Maxwell Zeff/Wired)

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SpaceX closes up 19% at $160.95 in its debut, with a ~$2.1T market value, after opening at $150, up 11% from its IPO price; Musk becomes the first trillionaire (Alex Harring/CNBC)

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SpaceX makes Nasdaq debut at $150 after pricing at $135: Live updates (CNBC)

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Meta's services, including Facebook and Instagram, are recovering after a brief outage that affected thousands of users (Jaspreet Singh/Reuters)

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MrBeast hits 500M subscribers on YouTube, a record for the platform (Kayla Cobb/The Wrap)

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Sam Bankman-Fried loses his bid to overturn his fraud conviction and 25-year prison sentence over the collapse of FTX (Luc Cohen/Reuters)

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Sources: six months after acquiring Rivos, Meta is struggling to integrate the chip startup and halted development of a chip for training its largest AI models (The Information)

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Sources: French startup Mistral AI is in talks to raise ~€3B at a ~€20B valuation; it was last valued at €11.7B during a funding round in September 2025 (Bloomberg)

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Companies with rising AI costs are increasingly using tools that tap cheaper models, including some from China, putting pricing pressure on OpenAI and Anthropic (Wall Street Journal)

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Niantic Spatial says Pokémon Go data is "not part of" its deal with spatial AI company Vantor, after concerns that game data could be used for military drones (Kenneth Shepard/Kotaku)

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New York City-based Current, which manages a consumer fintech platform, raised an $80M Series E at a $1.5B valuation led by Springcoast Partners (FinSMEs)

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Google sues Chinese cybercrime network Outsider Enterprise, accusing it of using Gemini to create fake websites and scam hundreds of thousands of Americans (Cecilia Kang/New York Times)

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SpaceX's trading debut is a test of the "Musk premium", the force behind Tesla's $1T+ valuation, and a gauge of investor appetite ahead of upcoming AI-tied IPOs (Reuters)

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FanDuel owner Flutter plans to delist its LSE stock on August 3, citing low trading and high costs; Flutter moved its primary listing to the NYSE in 2024 (Lauren Almeida/The Guardian)

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Memory chipmaker Kioxia replaces Toyota as Japan's largest company by market value; Kioxia's shares surged 7.6% on Friday, lifting its market cap above ~$274B (Kanoko Matsuyama/Bloomberg)

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Sources: Nvidia has told Chinese clients that its new Vera CPUs for AI data centers could be available as soon as August and that they can begin placing orders (Reuters)

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How Chinese manufacturers are dominating the humanoid robot supply chain in pace and price, even as the industry struggles to find a purpose for such robots (New York Times)

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Hyderabad, India-based Equal AI, which makes an eponymous AI-powered call screening app, raised a $30M Series B led by Prosus Ventures and Tomales Bay Capital (Ivan Mehta/TechCrunch)

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Oracle warns customers of a critical PeopleSoft flaw after ShinyHunters claimed breaches of 100+ organizations using PeopleSoft; Oracle has not issued a patch (Lorenzo Franceschi-Bicchierai/TechCrunch)

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Infineon plans to open a €5B chip factory in Germany backed by EU subsidies, its largest single investment, on July 2 as Europe seeks to boost chip production (Christina Kyriasoglou/Bloomberg)

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How Anthropic is blindsiding business partners by launching potentially competitive products with little warning, changing pricing, and more (The Information)

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Sources: Shenzhen-based humanoid robot manufacturer EngineAI has filed confidentially for a Hong Kong IPO; the company was last valued at $1.5B in April 2026 (Julia Fioretti/Bloomberg)

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Canadian challenger bank Koho raised a CA$130M Series E at a CA$1.33B valuation, up from $800M in 2023, as it nears obtaining a Canadian banking license (Josh Scott/BetaKit)

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Q&A with Xbox Chief Strategy Officer Matthew Ball about returning to console-exclusive releases, how using in-game ads could offset development costs, and more (Christopher Dring/The Game Business)

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An interview with Grindr CEO George Arison on turning the dating app into a "global gayborhood" hub with services for HIV treatment, hotel bookings, and more (Samantha Kelly/Bloomberg)

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Nesto, a Montreal-based mortgage and finance tech startup, raised a CA$302M Series E at a CA$1.47B valuation to expedite deployment of its lending platform (Alex Riehl/BetaKit)

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Analysis: assuming API pricing, the $200/month Claude Max and ChatGPT Pro plans offer up to ~$8,000/month and ~$14,000/month worth of tokens, respectively (@semianalysis_)

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Xiaomi releases MiMo Code V0.1.0, an open-source AI coding assistant that it says outperforms Claude Code on agentic coding and software engineering benchmarks (Carl Franzen/VentureBeat)

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Zelle owner EWS says it plans to expand the payment service later in 2026 to India, its first international market, and create its own USD-backed stablecoin (Associated Press)

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Anthropic, OpenAI, and other AI startups have announced major London expansions over the past year, as the city emerges as a deep AI talent pool outside the US (Kai Nicol-Schwarz/CNBC)

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Ted Cruz and Ron Wyden introduce the JAWBONE Act, which would let Americans sue US officials who try to coerce broadcasters or platforms into censoring speech (Jon Brodkin/Ars Technica)

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Agentic workplace startup Genspark raised a $100M Series B extension at a $2.6B post-money valuation, up 63% in just three months; it has raised $645M+ to date (Chris Metinko/Axios)

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Adobe reports Q2 revenue up 13% YoY to $6.62B, vs. $6.46B est., and raises its annual forecasts; CFO Dan Durn is leaving for Marvell; ADBE drops 5%+ after hours (Zaheer Kachwala/Reuters)

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Sources: Founders Fund's ~3% stake in SpaceX is now worth $50B+, after investing $600M; a16z will get the biggest return in its history, with a $10B+ stake (Bloomberg)

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SpaceX raises $75B in the biggest-ever IPO, pricing 555.6M shares at $135 each, giving it a market value of $1.77T (Bailey Lipschultz/Bloomberg)

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Polish lawmakers pass legislation imposing prison sentences of up to five years for "trash streaming" of violent crimes, gambling promotion, and more (Anna Wlodarczak-Semczuk/Reuters)

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Some investors question SpaceX's projected $1.77T valuation, citing its $4.3B loss on $4.7B in revenue in Q1, concerns over space data centers, and more (New York Times)

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Former a16z GP John O'Farrell criticizes the AI industry and his ex-partners for spending hundreds of millions to fight regulation, calling it "a huge mistake" (John O'Farrell/New York Times)

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Coinbase launches an AI agent that can execute trades and pay for premium research; users can give it access to their main account or have it operate separately (Ivan Mehta/TechCrunch)

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Europol says it has dismantled the AudiA6 crypto mixing service, which allegedly laundered $380M+ for ransomware actors and others between 2022 and 2025 (Bill Toulas/BleepingComputer)

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Sources: Anthropic signed 12+ initial agreements for direct data center leases, a first for the company, with Google potentially providing a financial guarantee (Anissa Gardizy/The Information)

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PhoenixAI, formerly CelerData, which is building what it calls an agentic AI-ready analytical database, raised an $80M Series B led by Sky9 (Kyt Dotson/SiliconANGLE)

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