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August 1, 2025, 1:25 PM
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Top News

Maxwell Zeff / TechCrunch:
Google rolls out Gemini 2.5 Deep Think, its most advanced reasoning model, which considers multiple ideas simultaneously, to its $250/month Ultra subscription  —  Google DeepMind is rolling out Gemini 2.5 Deep Think, which, the company says, is its most advanced AI reasoning model …
Kif Leswing / CNBC:
Apple reports Q3 revenue up 10% YoY to $94.04B, vs. $89.53B est., its largest quarterly growth since December 2021, and China net sales up 4% YoY to $15.37B  —  Apple Apple reported third-quarter earnings on Thursday that topped Wall Street expectations for profit and revenue.
William Gallagher / AppleInsider:
Apple incurred ~$800M in Trump's tariff costs in Q3, $100M less than expected, and expects a jump to $1.1B in Q4 if current rates and policies remain in place  —  Trump's tariffs are increasingly costing Apple more per quarter  —  Apple's bill for Trump's tariffs in the third quarter …
Kif Leswing / CNBC:
Tim Cook says Apple is “significantly growing” its AI investment, reallocating staff to work on AI features, and “very open to M&A that accelerates our roadmap”
Apple:
Apple Q3: iPhone up 13% YoY to $44.58B, vs. $40.22B est., Mac up 15% to $8.05B, iPad down 8% to $6.58B, and Wearables, Home, and Accessories down 9% to $7.4B
Chance Miller / 9to5Mac:
Apple has now sold over 3B iPhones since the device's 2007 launch; it announced 1B sold in July 2016, and is estimated to have reached 2B around September 2021
Emma Roth / The Verge:
Nintendo plans to raise the price of the original Switch “family of systems and products” and some Switch 2 accessories in the US; Switch 2's price won't change  —  The price hike will affect the family of original Switch systems, including the Lite and OLED.
Amanda Silberling / TechCrunch:
OpenAI removes a ChatGPT feature that let users make their conversations discoverable by Google and other search engines, calling it a “short-lived experiment”  —  Update 7/31/25 4:10pm PT: Hours after this article was published, OpenAI said it removed the feature from ChatGPT …
Ryan Browne / CNBC:
Nintendo Q1: revenue up 132% YoY to ~$3.8B, operating profit up 4.4% to ~$378M; it sold 5.82M Switch 2 units in the first month, more than double the original  —  Nintendo more than doubled revenue in its fiscal first quarter, as the company logged bumper sales of its Switch 2 console in the first month of release.
New York Times:
Source: OpenAI raised $8.3B led by Dragoneer at a $300B valuation, months ahead of schedule and part of a $40B goal for 2025; 5M business users pay for ChatGPT  —  The venture capital round values the ChatGPT maker at $300 billion, and underscores the fierceness of the A.I. money race.
Jay Peters / The Verge:
Reddit wants to become “a go-to search engine” for users; its core search has 70M+ weekly active unique users and its AI tool Reddit Answers has 6M weekly users  —  CEO Steve Huffman says the company is focused on making the platform a ‘go-to search engine.’
James Hunt / The Block:
The UK's Financial Conduct Authority plans to allow retail investors to access crypto exchange-traded notes, dubbed cETNs, on FCA-approved, UK-based exchanges  —  - The UK financial regulator is set to open up access to crypto exchange-traded notes for retail investors on FCA-approved, UK-based exchanges.
Tom Warren / The Verge:
Microsoft plans to end support for Windows 11 SE in 2026, five years after launching the OS for low-cost laptops designed to compete with Google Chromebooks  —  Microsoft isn't chasing after Chromebooks anymore, as demand tails off. … Microsoft is ending support for Windows 11 SE next year …
Reuters:
Sources: thousands of US export license applications, including for Nvidia's shipments of AI chips to China, are stalled due to US Commerce Department turmoil  —  Thousands of license applications by U.S. companies to export goods and technology around the globe, including to China …
Tanaya Macheel / CNBC:
Coinbase reports Q2 revenue up 3% YoY to $1.5B, vs. $1.6B est., and retail trading volume up 16% YoY to $43B, vs. $48.05B est.; COIN drops 10%+  —  Coinbase shares fell Thursday after gains in the cryptocurrency exchange's subscription revenue failed to offset weaker trading volumes.
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
Amazon:
Amazon reports Q2 revenue up 13% YoY to $167.7B, vs. $162.09B est., and forecasts Q3 operating income from $15.5B to $20.5B, vs. $19.48B est.; AMZN drops 6%+  —  Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its second quarter ended June 30, 2025.
Annie Palmer / CNBC:
Amazon reports Q2 ad revenue up 23% YoY to $15.7B, vs. $14.9B est., and subscription services revenue up 12% YoY to $12.2B
Jordan Novet / CNBC:
Amazon reports Q2 AWS revenue up 17.5% YoY to $30.9B, vs. $30.8B est., and AWS operating income up 8.8% YoY to $10.2B, vs. $10.9B est.
Callan Quinn / Decrypt:
Hong Kong's stablecoin licensing regime takes effect, requiring issuers to get approval from the Monetary Authority, comply with AML protocols, and more  —  Hong Kong's new stablecoin licensing regime takes effect, tightening rules as the city vies for a global crypto edge.  —  In brief
BBC:
In the UK, X and Reddit are blocking wide-ranging content, including about parliamentary debates, Ukraine, and Gaza, to comply with the Online Safety Act  —  Social media companies are blocking wide-ranging content - including posts about the wars in Ukraine and Gaza - in an attempt to comply …

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From Mediagazer

Reuters:
The FCC opens a review of agreements between national networks and local TV stations, including about rules controlling how stations preempt network programs

Andrew Marchand / The Athletic:
MLB finalizes deals with NBC/Peacock, Netflix, and ESPN; sources: NBC/Peacock pays ~$200M/year, Netflix pays $50M/season, ESPN maintains $1.65B over three years

Andrew Deck / Nieman Lab:
All four reporters at Suncoast Searchlight, a nonprofit news site, accused their EIC of using generative AI tools without disclosure; one reporter was fired

More News

Megan Farokhmanesh / Wired:
Video game industry trade organizations and gamers are speaking out against censorship campaigns that forced Steam and Itch.io to mass deindex NSFW content
Christy Santhosh / Reuters:
Neuralink plans a UK clinical study to test how its chips let patients with severe paralysis control devices with thoughts, marking its entry into the country

Earlier Picks

Anna Tong / Reuters:
AI infrastructure company fal, which runs audio, video, and image models on behalf of enterprises, raised a $125M Series C led by Meritech at a $1.5B valuation
Katie Roof / Bloomberg:
Sources: Index Ventures' nearly $100M seed investment in Figma was worth $2.17B at the IPO price, while Greylock's $50M Series A investment was worth $2.03B
Tanaya Macheel / CNBC:
The US SEC debuts Project Crypto, an initiative to “modernize” securities regulations to allow for crypto-based trading, amid investor interest in tokenization
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