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July 31, 2025, 3:20 PM
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Jordan Novet / CNBC:
Figma opens at $85 on the NYSE, after selling shares at $33 in its IPO, hitting a ~$50B valuation, more than a year after Adobe's $20B failed acquisition  —  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: TechCrunch, Figma, Reuters, New York Times, SiliconANGLE, Crunchbase News, Investor's Business Daily, Wall Street Journal, Mercury News, Axios, UPI, Axios, Fast Company, Forbes, San Francisco Business Times, Yahoo Finance, 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, @firstadopter, @firstadopter, @artemr, @bgurley, @mikeisaac, @mikeisaac, @ashleevance, @danprimack, @mikeisaac, @levie, and @lutherlowe
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.
Bloomberg:
Google loses its appeal of a judge's order requiring an overhaul of its app 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 in an antitrust case filed by Fortnite-maker Epic Games Inc.
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
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.
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 …
RT Watson / The Block:
Tether reports Q2 net profit of $4.9B, a quarterly record, and says it held nearly $9B in bitcoin at the end of the quarter  —  - Tether, the world's largest stablecoin issuer, said it registered a net profit of $4.9 billion, setting a new quarterly record.  The previous record was $4.5 billion, set in Q1 2024.
Andy Greenberg / Wired:
Microsoft says Russia's Secret Blizzard hacking group is impersonating Kaspersky and leveraging Russian ISPs to spy on foreign embassies in Moscow  —  The FSB cyberespionage group known as Turla seems to have used its control of Russia's network infrastructure to meddle with web traffic …
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. …
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.
Semafor:
Sources: Trump administration is reconsidering plans to replace the Biden-era AI export rules as part of a broader softening on chip controls targeting China  —  The Trump administration is easing off its tough-on-China approach to technology export controls as it searches for leverage …
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.
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.
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
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 …
Anthony Hughes / Bloomberg:
Fleet management software provider Motive raises $150M led by Kleiner Perkins; the company reportedly could go public by the end of 2025  —  Fleet tracking and driver safety startup Motive Technologies Inc. raised $150 million from a private funding round led by venture capital firm Kleiner Perkins …
More: Fast Company
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  —  OpenAI roughly doubled its revenue in the first seven months of the year, reaching $12 billion in annualized revenue, according to a person who spoke to OpenAI executives.
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  —  Over the summer, Matt Deitke got a phone call from Mark Zuckerberg, Meta's chief executive.  —  Mr. Zuckerberg wanted Mr. Deitke …
More: Fortune.  Bluesky: @haydenfield.  Mastodon: @MikeElgan@mastodon.social.  X: @lulumeservey, @arictoler, and @mikeisaac.  Forums: r/MachineLearning
CNBC:
Microsoft became the second company to surpass $4T in market cap, joining Nvidia, after its stock jumped 5%+ on better-than-expected results  —  The $4 trillion club has a second member.  —  Microsoft shares climbed more than 5% Thursday following a better-than-expected earnings report …
Bloomberg:
Sources: Shein's net income rose to over $400M, revenue rose to ~$10B in Q1, driving profit margins to ~5%, driven by consumer purchases ahead of US tariffs  —  Shein Group Ltd.'s net income rose to over $400 million and revenue was almost $10 billion in the first quarter as consumers snapped …

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From Mediagazer

Benjamin Mullin / New York Times:
Arkansas PBS severs ties with the PBS network, the first state public TV system to do so since Congress cut CPB funds, citing the annual $2M+ membership cost

Pamela McClintock / The Hollywood Reporter:
Disney's Zootopia 2 surpasses $1B at the global box office, the fastest PG-rated film to do so after just 17 days in release

Sam Roberts / New York Times:
Arthur L. Carter, who started a Connecticut newspaper in 1981, bought and sold The Nation, and founded the New York Observer in 1987, has died at 93

More News

Chris Eudaily / CNBC:
Roblox reports Q2 revenue up 21% YoY to ~$1B, Bookings up 51% YoY to ~$1.4B, above $1.24B est., and DAUs up 41% YoY to 111.8M, above 106M est.; RBLX jumps 15%+
Reuters:
The Cyberspace Administration of China questioned Nvidia over H20 chip security concerns after US lawmakers urged adding tracking features to exported AI chips

Earlier Picks

Michael Bodley / PitchBook:
Margit Wennmachers, who has shaped a16z's marketing approach since joining in 2010, is stepping down and “graduating” from operating partner to partner emeritus
Jonathan Vanian / CNBC:
Meta expects 2025 capital expenditures to be between $66B and $72B, raising the low end of the company's previous estimate of $64B to $72B
CNBC:
Meta's Reality Labs Q2: revenue up 5% YoY to $370M, vs. $381M est., and a $4.53B operating loss, vs. $4.99B est.; Reality Labs has lost nearly $70B since 2020
Mediagazer memeorandum WeSmirch
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