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July 5, 2025, 8:45 AM
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memeorandum
WeSmirchTop News
| KBKG: |
President Trump signs the One Big Beautiful Bill, which allows immediate deduction of US software labor; foreign R&D still must be amortized over 15 years — Today, the House passed the Senate's version of the “One Big Beautiful Bill Act” (OBBBA), marking a significant overhaul to federal tax policy.
More: Supply Chain Dive, Axios, Bloomberg, ABC, and Fortune
Bluesky: @eva.computer, @eva.computer, @unormal, and @ianlandsman.com
| Olga Kharif / Bloomberg: |
Over the past year, long-time Bitcoin whales have been selling off their holdings, leading to a reshaping of the market as institutions increase their buying — A silent transfer of control is reshaping the $2.1 trillion Bitcoin market. — A steady stream of sales by long-time whales … | Shaurya Malwa / CoinDesk: |
Two dormant Bitcoin wallets, each holding 10,000 “Satoshi era” BTC since 2011, transferred the coins to new wallets using a modern, lower-fee address format — All of these moved coins are among the rarest class of BTC: mined or transacted during the “Satoshi era,” … | Shirin Ghaffary / Bloomberg: |
The term “superintelligence” is becoming increasingly popular among AI leaders, even as many in the industry question whether it is ill-defined and overhyped — A new AI buzzword is picking up speed in Silicon Valley. — But first.... AGI inflation| Joshua Nevett / BBC: |
UK minister instructs the Turing AI institute, which has lately focused on responsible AI and ethics, to prioritize national security and defense instead — Science and Technology Secretary Peter Kyle has written to the UK's national institute for artificial intelligence (AI) to tell its bosses to refocus on defence and security.| Foo Yun Chee / Reuters: |
Doc: UK's Independent Publishers Alliance files an antitrust complaint with EU and the UK CMA against Google, alleging misuse of web content for AI Overviews — Alphabet's (GOOGL.O) Google has been hit by an EU antitrust complaint over its AI Overviews from a group of independent publishers …
More: Moneycontrol, Benzinga, The Verge, PYMNTS.com, SiliconANGLE, iPhone in Canada, MarketWatch, New York Post, Cryptopolitan, Press Gazette, The Decoder, Android Headlines, WinBuzzer, Nairametrics, and MediaPost
Bluesky: @fabiochiusi. Mastodon: @1br0wn@eupolicy.social. LinkedIn: Angela Mills Wade, Chris Dicker, and Alix Dunn
| Murad Hemmadi / The Logic: |
Sources: Nvidia's deal to buy CentML, which offers tools to optimize the running of AI models on chips, could exceed $400M; CentML raised a $27M seed in 2023 — TORONTO — Nvidia's deal to acquire Canadian AI startup CentML could exceed US$400 million in value, The Logic has learned. — Exclusive| Dan Primack / Axios: |
PitchBook: AI startups received 53% of all global VC dollars invested in H1 2025, rising to 64% in the US, and accounted for 29% of all global startups funded — Artificial intelligence is eating venture capital. Or at least its dollars. … - That percentage jumps to 64% in the U.S.
More: PitchBook, The French Tech Journal, and VCCircle
| Ryan Gould / Bloomberg: |
Blackstone acquires Vista Equity Partners' minority stake in event software company Cvent, sources say for $1.3B; Blackstone acquired Cvent for $4.6B in 2023 — Blackstone is acquiring Vista's stake in Cvent for $1.3 billion, according to people familiar with the matter …
More: Washington Business Journal and Verdict
| Ben Geman / Axios: |
Emerald AI, whose software lets AI data centers flexibly adjust power consumption, raised a $24.5M seed led by Radical Ventures, with NVentures participating — AI giant Nvidia and boldface names in tech and finance are backing a new startup that aims to transform data centers into flexible grid assets instead of liabilities.
More: NVIDIA, arXiv.org e-Print archive, Latitude Media, E&E News, VC News Daily, Emerald AI, Pulse 2.0, FinSMEs, and RCR Wireless News. LinkedIn: Varun Sivaram
| Foo Yun Chee / Reuters: |
The European Commission says it won't pause the rollout of its AI Act, after Alphabet, Meta, Mistral, ASML, and others urged the EU to delay the rules by years — The European Union's landmark rules on artificial intelligence will be implemented according to the timeline agreed by legislators …
More: The Decoder, Reuters, PYMNTS.com, Cryptopolitan, WinBuzzer, SiliconANGLE, Neowin, and Financial Times
Bluesky: @eighthdayarts. X: @zachweinberg. LinkedIn: Alex Usharovsky and Jake Seymour. Forums: Slashdot
| Kate Park / TechCrunch: |
Tailor, which offers a headless ERP system for retail businesses that separates the frontend and backend, raised a $22M Series A from ANRI, NEA, YC, and others — Tailor, a San Francisco- and Tokyo-based enterprise resource planning (ERP) platform, has raised $22 million in a Series A funding round.
More: Business Wire, PYMNTS.com, FinSMEs, VC News Daily, and Pulse 2.0
| RT Watson / The Block: |
Distinct Possibility, a gaming studio launched by EverQuest co-creator to build a web3 shooter on Etherlink, a Layer 2 network built on Tezos, raised $30.5M — - Bitkfraft Ventures and Brevan Howard Digital co-led a $30.5 million funding round in Distinct Possibility Studios, the new gaming firm from EverQuest co-creator John Smedley.
More: NFTgators
| Anna Heim / TechCrunch: |
Tel Aviv-based Qedma, which is developing an error mitigation software called QESEM for quantum computers, raised a $26M Series A led by Glilot Capital Partners — Despite their imposing presence, quantum computers are delicate beasts, and their errors are among the main bottlenecks …
More: HPCwire, SiliconANGLE, Verdict, FinSMEs, The Quantum Insider, and Globes
LinkedIn: Asif Sinay and Ben Daniels
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