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Filing: Chinese AI model maker Z.ai is seeking to raise ~$4B from the sale of 19.8M shares at ~$202 to ~$216 each, after its Hong Kong stock soared 1,400%+ YTD (Bloomberg)

Israeli startup Velocity, which helps place targeted ads on consumer and B2B AI platforms, raised a $27M seed led by NFX and Red Dot, and serves 20 clients (Chris Metinko/Axios)

Omdia expects a 22% YoY drop in global smartphone shipments priced below $400 for 2026 amid soaring DRAM and NAND costs; Q1 memory costs were ~60% of materials (Zaker Li/Omdia)

Sources: MiniMax is working on a 2.7T-parameter model internally called M3 Pro, which it could release as early as Q3 as open source; M3 has 428B parameters (Juro Osawa/The Information)

Apple reaches a deal with Broadcom worth $30B+ to make 15B+ chips in the US over the next five years, Apple's largest as part of its $600B US investment pledge (Rolfe Winkler/Wall Street Journal)

South Korea's Kospi index is down 20%+ from its record high in June, falling 5%+ on Wednesday; Samsung and SK Hynix fall 5%+ amid long-term chip deal concerns (Financial Times)

France's competition watchdog orders Meta to negotiate in good faith with news organizations over copyright payments, after two groups filed complaints in 2025 (Benoit Berthelot/Bloomberg)

China's CNVD says it found "security backdoor vulnerabilities" in Claude Code that "send sensitive information" like "location and identity to remote servers" (Raffaele Huang/Wall Street Journal)

The EU General Court dismisses Apple's legal challenges against its designation as a DMA "gatekeeper" for its App Store and iOS; Apple filed the case in 2024 (Foo Yun Chee/Reuters)

Chip startup SambaNova raised a $1B Series F led by General Atlantic at an $11B valuation and signs JPMorgan as a customer to deploy its chips for in-house AI (Bloomberg)

US lawmakers are considering strategies to curb US companies' growing adoption of Chinese AI models, as a House committee investigation investigates the risks (Kai Nicol-Schwarz/CNBC)

A look at effective altruism's fall after SBF's arrest and how the soon-to-be rich from upcoming AI IPOs give the movement a chance to return larger than ever (Andrew Fedorov/New York Magazine)

Palantir insiders and investors fear the company's enthusiastic embrace of President Trump's policies could drive away corporate clients and engineering talent (Financial Times)

The global AI boom has thrust CPUs back into the spotlight as Nvidia, Qualcomm, MediaTek, and others challenge Intel and AMD in the AI data center CPU market (Nikkei Asia)

Oratomic, which is developing quantum computing hardware and software, raised a $300M Series A led by ARCH Venture Partners, Spark Capital, and Khosla Ventures (Matt Swayne/The Quantum Insider)

A look at Chinese lidar maker Hesai, blacklisted by the US DOD in 2024, as it expands in the US; Hesai says it has ~33% of the global automotive lidar market (CNBC)

Paris-based Skello, which provides AI-powered HR tools for frontline workforce management, raised €200M led by Bridgepoint to support its European expansion (David Cendon Garcia/EU-Startups)

Sources: Meta is testing AI glasses that continuously record audio and take photos every few seconds, letting users query or recall what they saw or heard (Hannah Murphy/Financial Times)

Nvidia and AI chip startup d-Matrix are combining their hardware in a new system to power AI models, the latest example of Nvidia partnering with rivals (Phoebe Liu/The Information)

OpenAI says it will launch GPT-5.6 Sol, along with Terra and Luna, publicly on Thursday; a source says the US Department of Commerce cleared a broad rollout (Axios)

Lisbon-based Bizay, a customized products marketplace for SMBs, raised a $55M Series D led by Indico, as it aims to accelerate its US expansion (Tamara Djurickovic/Tech.eu)

Sources: Apple begins testing CXMT's DRAM chips for devices sold in China; Apple's interest thrusts CXMT and its relationship with Beijing into the spotlight (Financial Times)

Sleep apnea device maker ResMed agrees to sell its software business MatrixCare to PE firm Frazier for $490M in cash; ResMed bought MatrixCare for $750M in 2018 (Puyaan Singh/Reuters)

Meta says it will update its glasses with a new feature that disables the camera if someone tampers with the glasses' privacy LED light (Victoria Song/The Verge)

Meta says Muse Image includes an invisible watermarking system called Content Seal and previews a web tool to check whether an image was generated with Meta AI (Karissa Bell/Engadget)

Sources detail Xbox's big reset after its Game Pass strategy failed; Xbox spent nearly $80B on content deals, but gamers prefer to stick with a handful of games (Cecilia D'Anastasio/Bloomberg)

Samsung announces a Galaxy Unpacked event on July 22 in London, where it is expected to debut new foldables, including a Fold 8 with a shorter and wider design (Chris Welch/Bloomberg)

As part of Meta's Muse Image rollout, Instagram users with public accounts need to opt out to block AI generations of their content by other users (Reece Rogers/Wired)

Anthropic plans to lease a 16-story building in Lower Manhattan and double its NYC workforce to 1,000 people this year, as AI companies expand in the city (New York Times)

OpenAI Chief Futurist Joshua Achiam is leaving the company later this month after nearly nine years (Maxwell Zeff/Wired)

Memo: SpaceXAI and Cursor plan to launch their first jointly developed AI model as soon as Wednesday, after pushing back the launch to improve model efficiency (Grace Kay/The Information)

Meta launches Muse Image in Meta AI, Instagram, and WhatsApp, and previews Muse Video, the first media generation models from its Superintelligence Labs (Meta)

Source: Kraken is pursuing a full banking license in Europe, with a focus on Lithuania as the jurisdiction to secure it (Ian Allison/CoinDesk)

Anthropic extends Claude Fable 5 access to all paid plans through July 12; access to the model was set to shift to token-based usage on July 7 (Zac Hall/9to5Mac)

Introducing Muse Image: Image Generation Built for Your World (Meta Newsroom)

Google announces a Pixel event on August 12 in NYC, where it is expected to launch Pixel 11 series of phones and Pixel Watch 5 (Abner Li/9to5Google)

Sources: Microsoft, looking to reduce AI costs, is starting to replace models from OpenAI and Anthropic with its MAI models in products like Excel and Outlook (Brody Ford/Bloomberg)

Netflix signs deals with Penske Media, Condé Nast, Hearst, People, and other publishers to carry a range of programming from 2 to 20+ minutes, starting August 3 (William Earl/Variety)

Anthropic expands Claude Cowork to web and mobile in beta for Max plan subscribers, and says 90%+ of Cowork usage is unrelated to software development (David Gewirtz/ZDNET)

Tangos, which uses AI to conduct financial crime investigations at scale, raised a $20M seed led by Red Dot (Mike Wheatley/SiliconANGLE)

Super.com, which offers a savings app for lower-income consumers, raised a $65M Series D led by TPG at a $1.2B valuation and says it is profitable (Lily Mae Lazarus/Fortune)

Keyfactor, which manages billions of machine identities for more than 2,500 client organizations, raised $1B+ led by Summit Partners (Mike Lennon/SecurityWeek)

Google launches "platform properties" in the Google Search Console, letting creators and website owners see which search terms lead to their social platforms (Jay Peters/The Verge)

EDX Markets, an institutional cryptocurrency trading platform, raised a $76M Series C led by SBI Holdings (Francisco Rodrigues/CoinDesk)

Apple supplier Luxshare raised ~$3.1B in its Hong Kong IPO, selling 383.5M shares at ~$8 each, the top of its marketed range, and will start trading on Thursday (Bloomberg)

Solos unveils the AirGo A6 camera-less smart glasses, cutting the weight to 19g from the AirGo A5's 36g to 40g, and V2 privacy accessories like a clip-on shield (Andrew Liszewski/The Verge)

Study: 50 test accounts created in Australia across nine platforms were never asked to verify their age, despite the Australian law mandating a ban on under-16s (Byron Kaye/Reuters)

UN Secretary-General António Guterres calls for autonomous "killer robots" to be "banned by international law", a central issue in the US DOD-Anthropic clash (Sam Schechner/Wall Street Journal)

Norm, which runs an AI law firm that provides AI-powered legal services to clients alongside human lawyers, raised $120M led by Khosla at a $1.2B valuation (Guinevere Grant/Bloomberg)

Coinbase secures UK FCA authorization to offer investment services, enabling it to expand into derivatives and equities trading, its largest UK expansion yet (Brian Danga/The Block)