Google makes Gemini 2.5 Flash and Pro generally available and introduces 2.5 Flash-Lite, which it says is its most cost-efficient and fastest 2.5 model yet  —  Gemini 2.5 Flash and Pro are now generally available, and we're introducing 2.5 Flash-Lite, our most cost-efficient and fastest 2.5 model yet.

Amazon CEO Andy Jassy says the company expects that in the next few years AI “will reduce our total corporate workforce as we get efficiency gains”  —  Amazon CEO Andy Jassy says the retail and tech giant “will need fewer people doing some of the jobs that are being done today.”

The US Senate passes the Genius Act, which establishes a regulatory framework for stablecoins; the bill now heads to the House  —  The Senate on Tuesday passed the GENIUS Act, a landmark bill that for the first time establishes federal guardrails for U.S. dollar-pegged stablecoins and creates …

Sources: xAI is burning through $1B/month and expects to burn through ~$13B in 2025; revenues are expected to be just $500M this year, rising to $2B+ next year  —  Elon Musk's artificial intelligence startup xAI is burning through $1 billion a month as the cost of building …

Microsoft and AMD announce a “strategic, multi-year partnership” to design custom silicon for a number of devices, including next-generation Xbox consoles  —  Xbox President Sarah Bond shared an update on Xbox consoles today, confirming their ongoing partnership with AMD for first-party hardware …

Sources: Meta and EssilorLuxottica plan AI-powered smart glasses under Oakley and Prada brands; they will be aimed at athletes, and the Oakleys may cost ~$360  —  Meta and EssilorLuxottica plan to release versions of their AI-powered smart glasses under the Oakley and Prada brands, CNBC has learned.

Facebook renames its Videos tab as the Reels tab and says all videos on its platform will soon be shared as reels, regardless of their length or orientation  —  Facebook announced on Tuesday that all videos on its platform will soon be shared as reels, regardless of their length or orientation.

Waymo expands its coverage area in San Francisco and LA by 80 square miles each, bringing its total coverage area in California to 250 square miles  —  The company's robotaxis are now operating across 250 square miles of San Francisco and Los Angeles.

US appeals court rules in Apple's favor by throwing out a $300M verdict that found it infringed on Optis' wireless tech patents, sending the case to a new trial  —  Apple (AAPL.O) has convinced a U.S. appeals court to throw out a $300 million verdict by a jury that found …

President Trump plans to sign an executive order this week to grant TikTok a 90-day extension in enforcement of the sale-or-ban law, marking his third extension  —  New York CNN —  —  TikTok just got another lifeline from the White House, with President Donald Trump set to delay enforcement …

Shanghai-based MiniMax open sources MiniMax-M1, a model for complicated productivity tasks that supports 1M input tokens and it says beats DeepSeek's R1-0528  —  Chinese AI upstart MiniMax released a new large language model, joining a slew of domestic peers inspired to surpass DeepSeek in the field of reasoning AI.

Salesforce says it will increase prices on many products in August, including Slack; major product lines will see a 6% increase on average  —  List prices will go up by an average of 6% for major product lines in August, the company said in a statement Tuesday.  The cost of the workplace communications tool Slack will also rise.

Apple's Journal app is coming to iPad and Mac in iPadOS 26 and macOS Tahoe and gains features like multiple journals, map view, inline images, and more  —  Apple's Journal app is coming to the iPad and Mac as part of iPadOS 26 and macOS Tahoe, and several brand new features will be included too—even on iPhone.

X sues New York, claiming a law requiring social media companies to disclose how they deal with hate speech and disinformation violates the US Constitution  —  Elon Musk's X Corp. sued the state of New York claiming a law requiring social media companies to disclose how they deal with hate speech …

Threads launches a fediverse feed and a way to search for fediverse users, with support for Mastodon and others, for users who turned on fediverse sharing  —  A dedicated feed, and better search, will make social web content much more visible in Threads.

Adobe debuts Firefly for iOS and Android, letting mobile users generate images and videos using text prompts and experiment with popular AI photo editing tools  —  The iPhone and Android Firefly app can sync AI image and video projects to desktops via Creative Cloud.

Pano AI, which uses AI and computer vision to offer active wildfire detection, raised a $44M Series B led by Giant Ventures, bringing its total funding to $89M  —  Pano AI's fundraising signals investor willingness to back startups that rely in part on government entities for revenue

Nielsen: in May, Americans watched more TV on streaming than on cable and broadcast networks combined, the first time streaming was king of TV over a full month  —  In May, more Americans watched television on streaming than on cable and network television combined, Nielsen said.

A cyberattack claimed by the pro-Israel hacktivist group Predatory Sparrow has reportedly disrupted services at Iran's state-owned Bank Sepah  —  The attack introduces a clear cyber element with immediate consequences for the country's critical infrastructure amid a growing conflict between Israel and Iran.

Sources: Substack is pitching investors on a round between $50M and $100M that would value it above its ~$700M last round price, and is generating ~$45M in ARR  —  Substack is generating about $45 million in annual recurring revenue: sources  —  Substack is quietly fundraising …

The US Senate confirms Olivia Trusty to the FCC, giving Republicans a 2-1 majority after the recent departures of two members  —  The Senate confirmed Olivia Trusty to the FCC, a move that gives Donald Trump and Republicans a 2-1 majority on the commission.

Self-driving simulation software maker Applied Intuition raised $600M co-led by BlackRock and Kleiner Perkins at a $15B valuation, up from $6B in March 2024  —  The company raised $600 million from investors as it prepares for an eventual IPO. … The financing, which the company plans to announce Tuesday …

Sports data company Teamworks raised a $235M Series F led by Dragoneer at a $1B+ valuation; its tech is used by 6.5K+ sports teams including all NFL teams  —  Teamworks has raised $235 million in a new funding round that pushes the value of the sports data company to more than $1 billion.

At Cannes, Meta adds AI tools to its Advantage+ suite for advertisers and agencies, including turning images into videos, video highlights, and Virtual Try-On  —  The new features include the ability to transform still images into video.  —  With the advertising world congregating this week …

Survey: US employees using AI at work at least a few times/year grows from 21% in 2023 to 40% in 2025, and those using AI a few times/week is up from 11% to 19%  —  The use of AI at work is accelerating.  In the past two years, the percentage of U.S. employees who say they have used AI …