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September 2, 2025, 2:00 AM
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memeorandum
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| Nikou Asgari / Financial Times: |
WLFI, the token of the Trump family's World Liberty Financial, falls 25% to about $0.21 on its first day of trading, giving it a market cap of around $6B — WLFI tokens in circulation have a total nominal value of $6.4bn — The crypto token of a project backed by US President Donald Trump fell on its first day of trading on Monday.
More: The Block, World Liberty Financial, Binance, Reuters, CoinDesk, BeInCrypto, Wall Street Journal, Coinpedia Fintech News, Cryptonews, Bloomberg, Decrypt, Benzinga, Unchained, The Daily Hodl, Cryptonews, CryptoSlate, CoinGape, New York Times, Bitcoin Insider, The Coin Republic, The Crypto Times, Coinpedia Fintech News, Coinspeaker, The Independent, Raw Story, NewsBTC, Bitcoin Insider, Yahoo Finance, Inside Bitcoins, Cointelegraph, Crypto Briefing, Cointelegraph, Blockchain.News, The Straits Times, The Crypto Times, The Crypto Basic, crypto.news, Barron's Online, DL News, CoinDesk, The Hill, Yahoo Finance, and NFTgators
X: @donaldjtrumpjr, @lookonchain, @justinsuntron, @erictrump, @lookonchain, @arkham, @coinbaseassets, @wublockchain, @quintenfrancois, @zakfolkman, @cryptocom_exch, @sjdedic, @chooserich, @worldlibertyfi, @jacobkinge, @chainlink, @degeneratenews, and @ag_dwf. Mastodon: @carnage4life@mas.to. Forums: r/Buttcoin
| Arjun Kharpal / CNBC: |
Alibaba's shares jumped 19% in Hong Kong on Monday, following strong quarterly results from its cloud computing unit and reports of its new AI chip on Friday — Alibaba's Hong Kong listed shares surged more than 19% on Monday as the Chinese tech giant's cloud computing unit drove strong quarterly results … | Luke James / Tom's Hardware: |
TrendForce: global chip foundry revenue surged 14.6% QoQ to $41.7B in Q2, with TSMC securing a 70% market share, followed by Samsung with 7% and SMIC with 5% — China's SMIC also takes a 1.7% hit. — The second quarter of 2025 was a windfall for the world's chipmakers …
More: TrendForce, South China Morning Post, PC Gamer, DigiTimes, and Notebookcheck
| Kelsey Warner / Semafor: |
Source: G42 is talking to AWS, Google, Meta, Microsoft, and xAI to become tenants at its UAE-US AI Campus, and aims to diversify chip suppliers beyond Nvidia — THE SCOOP — Abu Dhabi-backed G42 is still negotiating with major American technology firms — with no agreements yet … | Aisha S Gani / Bloomberg: |
Internal memo: Revolut begins a secondary share sale for employees at $1,381.06 per share, valuing Revolut at $75B, up from $45B in a 2024 secondary share sale — Revolut Ltd. has kicked off a process for some employees to sell their shares in the company at a $75 billion valuation.
More: Sifted, Reuters, crypto.news, The Guardian, Capital Brief, The Irish Times, SiliconANGLE, and Finextra
| Colleen Flaherty / Inside Higher Ed: |
A survey of 1,047 US college students on GenAI: 55% use the tech for brainstorming ideas, 18% now question the value of college more than they used to, and more — Key findings from Inside Higher Ed's student survey on generative AI show that using the evolving technology hasn't diminished … | Bloomberg: |
Sources: OpenAI is scouting local partners to set up a 1GW+ data center in India, although the exact timeline is unclear; Sam Altman is set to visit this month — OpenAI is seeking to build a massive new data center in India that could mark a major step forward in Asia for its Stargate … | Daphné Leprince-Ringuet / Sifted: |
UK-based Phasecraft, which develops algorithms for quantum computers, raised a $34M Series B co-led by Plural, Playground Global, and Novo Holdings — The UK-based startup says its algorithms can unlock value even with error-prone quantum computers — Phasecraft, the UK-based startup …
More: MarketWatch, The Times, Tech Funding News, SiliconANGLE, EU-Startups, and Resilience Media
| Aidin Vaziri / San Francisco Chronicle: |
Marc Benioff says Salesforce has cut its support staff from 9,000 to ~5,000 in the past year after deploying AI agents to handle a growing share of its work — Salesforce has cut 4,000 customer support roles this year after deploying artificial intelligence agents to handle a growing share …
More: Business Insider, Moneycontrol, Financial Express, Freelance Informer, BMI, and ITPro
X: @linusekenstam and @linusekenstam
Bluesky: @thinkyparts and @humankindworks
Forums: r/bayarea, r/AgentsOfAI, r/technology, and Slashdot
| Kate Park / TechCrunch: |
Tokyo-based LayerX, which uses AI to help enterprises automate back-office workload, raised a $100M Series B led by TCV, taking its total funding to $192.2M — Aging demographics, labor shortages, the adoption of GenAI, and the 2023 implementation of e-invoicing are driving companies to automate finance …
More: Nikkei Asia
| Dominic-Madori Davis / TechCrunch: |
Interview with Lovable CEO Anton Osika on competition, staying in Europe, and more; the company now has 2.3M+ active users, including 180K paying subscribers — Every seat in Copenhagen's Bella Center was full as Anton Osika, the co-founder of the vibe coding app Lovable, took the stage at this year's TechBBQ conference.| Coco Feng / South China Morning Post: |
China's new AI content labeling law goes into effect, as part of a broad effort to address AI-related risks such as misinformation and copyright infringement — The law requires explicit and implicit labels for AI-generated text, images, audio, video and other virtual content
More: Caixin Global, Engadget, Global Times, CGTN, SiliconANGLE, and The Decoder. Forums: r/artificial
| Jonathan Kemper / The Decoder: |
Tencent open sources translation models Hunyuan-MT-7B and Hunyuan-MT-Chimera-7B, which support 33 languages, claiming they beat established models in benchmarks — Chinese tech giant Tencent has open sourced two specialized translation models, claiming they outperform established tools …
More: GitHub, SiliconANGLE, and Geekflare
| Fred Vogelstein / Crazy Stupid Tech: |
Q&A with Cloudflare CEO Matthew Prince on why he thinks AI chatbots are killing the web and journalism, how his pay-per-crawl initiative can fix it, and more — Sixteen years ago Matthew Prince and classmate Michelle Zatlyn at Harvard Business School decided there was a better …
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