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July 31, 2025, 5:15 PM
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Jordan Novet / CNBC:
Figma's stock closes up 250% at $115.50, after Figma sold shares at $33 in its IPO, hitting a ~$68B valuation; Adobe's $20B Figma acquisition fell apart in 2023  —  Figma's stock more than tripled in its New York Stock Exchange debut on Thursday, a day after the design software company sold shares at $33 in its IPO.
More: Figma, TechCrunch, Reuters, New York Times, Crunchbase News, Wall Street Journal, Yahoo Finance, Shacknews, Forbes, Axios, UPI, Axios, Fast Company, Forbes, San Francisco Business Times, Mercury News, CNBC, Bloomberg Podcasts on YouTube, Bloomberg, The Register, and Financial Times
X: @nadavwiz, @haridigresses, @gergelyorosz, @robertjbye, @rsg, @gergelyorosz, @gergelyorosz, @vladlykhonis, @ashleevance, @alexrkonrad, @mihikapoor, @esthercrawford, @mattturck, @jsngr, @rrhoover, @jaredpalmer, @martymadrid, @aaron_epstein, @lulumeservey, @judson, @ycombinator, @highyieldharry, @tmrohan, @danprimack, @andrew__reed, @eglyman, @greylockvc, @tryramp, @apompliano, @mikeyk, @rsms, @jordihays, @trungtphan, @mamoonha, @elianoayounes, @andyzg3, @joecarlsonshow, @jimcramer, @alexkehr, @zck, @growing_daniel, @jimcramer, @danprimack, @growing_daniel, @zacharydewitt, @stevesi, @arampell, @nic__carter, @packym, @unusual_whales, @levie, @nic__carter, @farooqib, @clairetbutler, @packym, @erondu, @itstarh, @thestalwart, @dohamekki, @can, @thestalwart, @sarahmillerdc, @johnmarknewman, @rleshner, @arfurrock, @teroterotero, @davidgeorge83, @figma, @j0hnwang, @j0hnwang, @nyse, @zoink, @kwharrison13, @solana, @traestephens, @sarahdingwang, @emiliemc, @annbordetsky, @sdw, @arya__deniz, @thogge, @nikillinit, @buccocapital, @asanwal, @zoink, @stammy, @bgurley, @bgurley, @william_blake, @bgurley, @buccocapital, @artemr, @lexnfx, @teroterotero, @bgurley, @firstadopter, @ashleevance, @lutherlowe, @levie, @firstadopter, @danprimack, @mikeisaac, @artemr, @mikeisaac, and @mikeisaac.  LinkedIn: Jordan Novet
Forums: Hacker News and r/web_design
Kif Leswing / CNBC:
Apple reports Q3 revenue up 10% YoY to $94B, its largest quarterly growth since December 2021, net income up 9% to $23.4B, and China net sales up 4% to $15.4B  —  Apple Apple reported third-quarter earnings on Thursday that topped Wall Street expectations for profit and revenue.
Todd Spangler / Variety:
Apple reports Q3 revenue from Services, which includes the App Store, Apple TV+, and Apple Music, up 13.3% YoY to $27.42B, vs. $26.8B est.
Amazon:
Amazon reports Q2 revenue up 13% YoY to $167.7B, operating income up 31% YoY to $19.2B, and net income up 35% YoY to $18.2B  —  Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its second quarter ended June 30, 2025.  - Net sales increased 13% to $167.7 billion in the second quarter …
Bloomberg:
Google loses its appeal of a judge's order in October 2024 requiring it to overhaul its Google Play store policies in an antitrust case filed by Epic Games  —  Alphabet Inc.'s Google lost its appeal of a judge's order requiring an overhaul of the technology giant's app store policies …
Financial Times:
The UK's CMA finds that Microsoft's software licensing terms harm competition in the cloud market, may open a probe into Microsoft and Amazon in 2026  —  Watchdog finds UK cloud market ‘not working well’ and recommends conduct requirements for Big Tech  —  Microsoft's software licensing terms …
Reuters:
The Cyberspace Administration of China questioned Nvidia over H20 chip security concerns after US lawmakers urged adding tracking features to exported AI chips  —  China's cyberspace regulator said it has asked U.S. semiconductor maker Nvidia (NVDA.O) to explain whether its H20 artificial intelligence chips …
Andy Greenberg / Wired:
Microsoft says Russia's Secret Blizzard hacking group is using Russian ISPs to install spyware disguised as Kaspersky on PCs of victims in embassies in Moscow  —  The FSB cyberespionage group known as Turla seems to have used its control of Russia's network infrastructure to meddle …
Annie Palmer / CNBC:
Trump signs an EO ending the de minimis exemption for packages worth $800 or less from all countries, after shuttering the loophole for goods from China in May  —  President Donald Trump on Wednesday signed an executive order ending the de minimis trade loophole for low-value packages shipped from all countries.
RT Watson / The Block:
Tether reports a record $4.9B net profit in Q2, says it held nearly $9B in BTC at the end of Q2, and remains “among the largest holders of US government debt”  —  - Tether, the world's largest stablecoin issuer, said it registered a net profit of $4.9 billion, setting a new quarterly record.
Tanaya Macheel / CNBC:
The US SEC launches Project Crypto, an initiative to “modernize” securities regulations to allow for crypto-based trading  —  The Securities and Exchange Commission on Thursday debuted “Project Crypto,” an initiative to modernize securities rules and regulations to allow for crypto-based trading.
Bloomberg:
OpenAI launches Stargate Norway, the first Stargate-branded initiative in Europe, to build a 230MW data center owned by a joint venture between Nscale and Aker  —  OpenAI has agreed to be an anchor customer for a new data center in Norway, the first European site for the artificial intelligence company's Stargate infrastructure effort.
Google DeepMind:
Google DeepMind unveils AlphaEarth Foundations, an AI model that unifies petabytes of Earth observation data and helps scientists create detailed maps on demand  —  New AI model integrates petabytes of Earth observation data to generate a unified data representation that revolutionizes global mapping and monitoring
Sean Michael Kerner / VentureBeat:
Stack Overflow survey: 84% of developers use or plan to use AI tools in their workflow, up from 76% in 2024, and 33% trust AI accuracy, down from 43% in 2024  —  More developers than ever before are using AI tools to both assist and generate code.  —  While enterprise AI adoption accelerates …
CNBC:
Microsoft became the second company to surpass $4T in market cap, joining Nvidia, after its stock jumped 5%+ on better-than-expected results
Katie Roof / Bloomberg:
Anaconda, which provides AI development tools for developers and data scientists, raised $150M+ led by Insight Partners, source says at a $1.5B valuation  —  Artificial intelligence startup Anaconda Inc. has raised a new funding round that values the company at $1.5 billion, according to a person familiar with the matter.
Sankalp Phartiyal / Bloomberg:
iPhone exports to the US from India are currently exempt from Trump's latest 25% tariffs on India; India now accounts for 20%+ of global iPhone production  —  Apple Inc.'s iPhone exports to the US from India will remain untouched by President Donald Trump's latest 25% tariffs on the South Asian nation, for now.
Bloomberg:
The Trump administration says Apple, Google, OpenAI, Amazon, Anthropic, and 60+ companies have pledged to make data sharing seamless across health care systems  —  Leading US technology companies, including Amazon.com Inc., Anthropic, Apple Inc., Alphabet Inc.'s Google and OpenAI Inc. …
Angela Palumbo / Barron's Online:
Reddit reports Q2 revenue up 78% YoY to $500M, vs. $426M est., daily active uniques up 21% to 110.4M, Q3 guidance above est.; RDDT jumps 16%+ after hours  —  earnings greatly beat expectations and the company provided better-than-expected revenue estimates for its third quarter on Thursday.
Tanaya Macheel / CNBC:
Coinbase says its new “everything exchange” will include tokenized assets, stocks, derivatives, prediction markets, and more, for US users in the coming months  —  Coinbase is planning to expand its core trading app beyond crypto, the company said Thursday.
Financial Times:
How AI has transformed data center design, with concerns about overspending on AI infrastructure, sparked by DeepSeek, fading amid the ongoing building frenzy  —  The quest for superintelligence is spurring a data centre boom — but critics question the cost, environmental impact and whether it is all needed

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From Mediagazer

Charles Gasparino / New York Post:
Sources: Paramount Skydance is in talks with private equity firms including Apollo Global Management to join its potential $60B bid for Warner Bros. Discovery

CNN:
The Pentagon Press Association formally objects to Defense Department rules “that appear designed to stifle a free press” and “further isolate reporters”

Daniel Thomas / Financial Times:
Leonard Blavatnik injects $587M into DAZN, taking his total investment above $7B in under a decade; DAZN losses narrowed last year to $936M from $1.4B in 2023

More News

New York Times:
A look at Big Tech's AI talent wars with massive compensation packages; sources: Meta told potential hires they would be allotted 30K GPUs for their AI research
More: Fortune.  Bluesky: @haydenfield.  Mastodon: @MikeElgan@mastodon.social.  X: @lulumeservey, @mikeisaac, and @arictoler.  Forums: r/MachineLearning

Earlier Picks

Sri Muppidi / The Information:
Source: OpenAI's monthly revenue grew ~2x in the first seven months of 2025, hitting $12B in annualized revenue; the company's 2025 revenue projection is $12.7B
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