| Mark Zuckerberg / Meta: |
| Financial Times: |
Sources: Mark Zuckerberg's aim with Superintelligence Labs is to create a startup-like unit within Meta that is unencumbered by the $1.8T company's bureaucracy — Meta has splashed out on star hires and infrastructure as it tries to make up ground in the artificial intelligence race| Bloomberg: |
Palo Alto Networks agrees to acquire CyberArk Software in a cash-and-stock deal valuing the Israeli cybersecurity company at ~$25B, implying a 26% stock premium — Palo Alto Networks Inc. agreed to buy CyberArk Software Ltd. in a cash-and-stock deal valuing the Israeli cybersecurity company at about $25 billion.| Alice Hancock / Financial Times: |
Google says it will sign the EU's AI Code of Practice, in a boost to the EU's efforts to regulate AI in the face of Meta's refusal to sign and heavy US pressure — Move set to boost efforts to regulate artificial intelligence in face of opposition from Meta and pressure from US| Elvira Pollina / Reuters: |
Italy opens a probe into Meta, says it may have violated EU competition rules by integrating its Meta AI assistant into WhatsApp without user consent — Italy's antitrust authority said on Wednesday it had launched an investigation into Meta Platforms (META.O) over allegations the company abused … | Belle Lin / Wall Street Journal: |
Ramp raised a $500M Series E-2 led by Iconiq Growth at a $22.5B valuation, says it has 40,000+ businesses as clients, with $700M in annualized revenue in March — Startup raises $500 million to further develop AI-based agents, CEO says — Ramp, a startup that uses artificial intelligence … | Abner Li / 9to5Google: |
Google plans to roll out ML-powered age estimation in the US over the next few weeks to detect whether users are under 18 and then enable existing protections — In the US, Google is beginning to use an age estimation model to detect whether Account users are under or over 18.| Alexandra Bruell / Wall Street Journal: |
Sources: Amazon is paying $20M to $25M a year to use NYT's editorial content in a multi-year deal for its AI platforms, which is ~1% of NYT's total 2024 revenue — The multiyear deal lets Amazon use content from the Times's news and cooking sections and the Athletic| Financial Times: |
Sources: Revolut considers buying a US bank to get an American banking license to expand lending capabilities, a faster route than applying for its own permit — Acquisition would be faster route for fintech to start lending in US than applying for permit of its own| Mike Allen / Axios: |
Sources: the US intelligence community persuaded the DOJ that allowing the HPE-Juniper merger was essential to US national security and competing with Huawei — - The official said blocking the deal would have “hindered American companies and empowered” Chinese competitors.| Paige Smith / Bloomberg: |
JPMorgan Chase and Coinbase signed a deal to directly link customers' bank accounts to their cryptocurrency wallets, with the feature expected to launch in 2026 — JPMorgan Chase & Co. and Coinbase Global Inc. signed an agreement to directly link customers' bank accounts to their cryptocurrency wallets … | Lucia Moses / Business Insider: |
Showrunner, an Amazon-backed AI streaming service, launches Thursday, letting users paying $10-$40/mo. to create their own animated shows or build on others' IP — - Fable Studio has gotten funding from Amazon for its AI streaming platform, Showrunner. — It shared a deck that explains … | Taylor Lorenz / User Mag: |
Substack apologizes after sending a push alert encouraging some users to subscribe to NatSocToday, a Nazi newsletter advocating for a “White homeland” — The alert contained a swastika and prompted users to subscribe to newsletter featuring opinions and news important to the “white nationalist community.”| Jay Peters / The Verge: |
YouTube will now allow videos with strong profanity in the first seven seconds to be fully monetized, reversing previous restrictions that limited ad revenue — Videos that use the F-word in the first seven seconds are now eligible for full ad revenue.| Timmy Shen / The Block: |
RD Technologies, which is developing a stablecoin backed by Hong Kong dollar, raised $40M ahead of HK's stablecoin licensing regime set to take effect on Aug. 1 — - RD Technologies announced today that it has completed its $40 million series A2 funding round.| Chance Miller / 9to5Mac: |
Apple responds to the DOJ's antitrust lawsuit from March 2024, saying it sets “a dangerous precedent” and “threatens the very principles that set iPhone apart” — The US Department of Justice formally sued Apple in March 2024, accusing the company of having a “smartphone monopoly.”| Richard Speed / The Register: |
Dropbox says it will discontinue Dropbox Passwords, launched in 2020, on October 28 to focus on its core product, and recommends 1Password as a replacement — Dropbox has given users of its password manager until the end of October to extract their data before pulling the plug on the service.| Zixu Wang / New York Times: |
How Meituan used Hong Kong as a trial market for global food delivery expansion, with its Keeta service driving out Deliveroo before moving to Saudi Arabia — Meituan, the Chinese food delivery giant, tested its global expansion in Hong Kong, where its Keeta service displaced a rival before moving to other markets.| Wall Street Journal: |
China showcased many of the initiatives for AI self-sufficiency at Shanghai's World AI Conference, as it invests heavily in power generation and skills training — As Washington tries to limit China's progress, Beijing is spending more to build AI that doesn't rely on U.S. technology| Stefanno Sulaiman / Reuters: |
Indonesia raises taxes on crypto sellers, from 0.1% to 0.21% in domestic exchanges, and from 0.2% to 1% in overseas exchanges, but removes VAT on buyers — Indonesia will raise taxes on cryptocurrency transactions, with a higher rate on trades hosted by overseas bourses, starting from August 1 … | Alex Konrad / Upstarts Media: |
A look at OneChronos, as it seeks to create “smart markets” that would allow firms to trade GPU compute like other commodities, such as electricity and oil — OneChronos teamed up with prize-winning economist Paul Milgrom of Auctionomics to develop the world's first financial market for GPU compute.| Financial Times: |
A US trade group for 30+ fintechs and aggregators says JPMorgan's plan to charge for data access could cost some firms 60% to over 100% of their annual revenue — Start-ups say having to pay for consumer's financial information would run them out of business| Bloomberg: |
A look at Russia's coordinated crackdown on foreign tech services and shift to state-backed alternatives, as it names VK's Max its national messaging app — A coordinated effort is underway to crack down on foreign tech services and build up domestic options controlled by the government.| Amrith Ramkumar / Wall Street Journal: |
Sources: the US Commerce Department is discussing charging patent holders 1%-5% of their patent value, a radical move likely to spark pushback from businesses — Commerce Department officials discuss new fee based on patent value, which could fuel backlash from businesses| Renju Jose / Reuters: |
Australia says it will include YouTube in its ban on social media for children under 16 years of age, reversing an earlier decision to exempt the platform — Australia said on Wednesday it will include Alphabet-owned (GOOGL.O) YouTube in its world-first ban on social media for teenagers … | Laura Italiano / Business Insider: |
The judge in Elon Musk's OpenAI lawsuit strikes down 16 of OpenAI's 55 affirmative defenses, accuses both sides of “gamesmanship” and over-litigating the case — - The judge in Elon Musk's racketeering lawsuit against Sam Altman chastised both sides on Tuesday.| The Information: |
Docs: Groq revised its 2025 revenue projections to $500M+ within the past month, citing delays in data center capacity, after projecting $2B+ earlier this year — Groq, a richly funded chip startup trying to take on Nvidia, told investors early this year it was on track to have more than $2 billion in revenue for 2025.
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| Daniel Thomas / Financial Times: |
| Bloomberg: |
| Ernesto Londoño / New York Times: |
| Catherine Perloff / The Information: |
| André Beganski / Decrypt: |
| Abner Li / 9to5Google: |