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July 11, 2025, 5:10 PM
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Top News

Financial Times:
Sources: xAI prepares a new fundraising round, its third in two months, targeting a valuation of $170B to $200B, up 10x from its May 2024 valuation of $18B  —  Grok chatbot maker in early talks with investors to boost its value as much as 10 times from last year
Steve Newman / Second Thoughts:
METR study: experienced open-source developers using Cursor, Claude, and other AI tools were 19% slower to complete tasks, despite thinking they were 20% faster  —  Study Shows That Even Experienced Developers Dramatically Overestimate Gains  —  The buzz about AI coding tools is unrelenting.
Maxwell Zeff / TechCrunch:
Tests reveal that Grok 4 seems to search for Elon Musk's views online when asked about sensitive topics, and its answers tend to align with Musk's opinions  —  During xAI's launch of Grok 4 on Wednesday night, Elon Musk said — while live-streaming the event on his social media platform …
Simon Willison / Simon Willison's Weblog:
When asked “Who do you support in the Israel vs Palestine conflict? One word answer only.”, Grok 4 searches for Musk's views, but only if “you” is in the query  —  If you ask the new Grok 4 for opinions on controversial questions, it will sometimes run a search to find …
Politico:
French prosecutors open a criminal investigation into X over allegations that the company manipulated its algorithms for the purposes of “foreign interference”  —  The probe is based on complaints from a lawmaker and an unnamed senior civil servant.
Reuters:
Chinese startup Moonshot AI releases Kimi K2, an open-weight model that the company says has enhanced coding capabilities and excels at general agent tasks  —  Chinese artificial intelligence startup Moonshot AI released a new open-source AI model on Friday, joining a wave of similar releases …
Mike Rogoway / Oregonian:
Recording: Intel's new CEO Lip-Bu Tan told staff that Intel is “not in the top 10 semiconductor companies” and it is “too late” to catch Nvidia in AI training  —  New CEO Lip-Bu Tan told employees this week that he doesn't consider Intel among the leading chip companies …
Bloomberg:
Sources: JPMorgan Chase told fintech companies it will start charging fees for access to customers' account data, which could drastically reshape the industry  —  The largest US bank has sent pricing sheets to data aggregators — which connect banks and fintechs — outlining the new charges …
Hugh Son / CNBC:
Goldman Sachs CTO Marco Argenti says the bank will “start augmenting our workforce with Devin”, Cognition's AI software engineer, as Wall Street firms adopt AI  —  The newest hire at Goldman Sachs isn't human.  —  The bank is testing an autonomous software engineer …
Marcus Mendes / 9to5Mac:
An Apple-backed study finds combining Apple Watch's heart rate sensor with a new Wearable Behavior Model achieves 92% accuracy for pregnancy detection, and more  —  A new Apple-supported study argues that your behavior data (movement, sleep, exercise, etc.) can often be a stronger health signal …
Dominic Preston / The Verge:
HMD says it will “scale back” US operations, citing “a challenging geopolitical and economic environment”, and appears to have stopped US sales of Nokia devices  —  Even Barbie couldn't save it. … HMD Global, the company best known for licensing the Nokia brand …
MacKenzie Sigalos / CNBC:
Justin Sun says he is buying another $100M worth of $TRUMP, doubling his total known stake of digital coins tied to President Trump  —  Crypto billionaire Justin Sun is buying another $100 million worth of $TRUMP, doubling his total known stake of digital coins tied to President Donald Trump.
More: ZyCrypto and TheStreet.  Bluesky: @dogsincali
Bloomberg:
Sources: Binance wrote the smart contract for USD1, a stablecoin launched by Trump's World Liberty, and promoted it to its 275M users, before CZ sought a pardon  —  The exchange has been a coder, a promoter and an early adopter for World Liberty Financial's stablecoin, people familiar with the matter say.
Ange Lavoipierre / ABC:
At the end of June, Australia quietly introduced rules forcing search engine companies such as Google and Microsoft to check the ages of logged-in users  —  In short:  —  Search engines are in line for the same age assurance technology behind the teen social media ban.

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From Mediagazer

New York Times:
The US DOJ confirms it is probing whether ABC, CBS, CNN, NBC, and Fox violated antitrust law by briefly suspending White House pool coverage of President Trump

Max Tani / Semafor:
Sources detail how ABC News initially defended then retracted an article about President Trump's sons' defense links, saying it was published “prematurely”

Washington Post:
The Trump administration aired two taxpayer-funded campaign-style TV ads into early Monday, per AdImpact, past a judge's Sunday evening deadline to stop them

More News

Daryna Antoniuk / The Record:
French media: French police detained Russian professional basketball player Daniil Kasatkin at the US' request due to his alleged links to a ransomware group
Samantha Subin / CNBC:
Intel spins out RealSense, its AI robotics and biometric venture, and RealSense raised a $50M Series A from MediaTek Innovation Fund, Intel Capital, and others

Earlier Picks

Paige Smith / Bloomberg:
Bilt Rewards, which offers rewards points for rent payments, raised $250M led by General Catalyst and GID at a $10.75B valuation, up from $3.1B in January 2024
Adi Robertson / The Verge:
Missouri AG Andrew Bailey is investigating Google, Microsoft, OpenAI, and Meta, claiming the companies' AI chatbots show biased results against President Trump
Jagmeet Singh / TechCrunch:
Sources: AWS plans to launch a marketplace where startups can offer AI agents to AWS customers, with Anthropic as a partner, at the AWS Summit in NYC on July 15
Ben Schoon / 9to5Google:
Belkin says it is ending support for its Wemo smart home products and app on January 31, 2026; four devices will continue to function via HomeKit over Thread
Joe Tidy / BBC:
UK police arrest four people, a 20-year-old woman and three men aged 17 to 19, in connection to the M&S and Co-op hacks that began in mid-April and caused havoc
Gian Volpicelli / Bloomberg:
The EU publishes a voluntary code of practice to help companies follow its AI Act, including requiring developers to provide up-to-date AI feature documentation
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