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June 12, 2026, 7:40 PM
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Top News

Alex Harring / CNBC:
SpaceX closes up 19% at $160.95 in its debut, with a ~$2.1T market value, after opening at $150, up 11% from its IPO price; Musk becomes the first trillionaire  —  SpaceX shares soared on Friday, propelling the rocket company's valuation above $2 trillion, as trading commenced on the Nasdaq …
Reuters:
SpaceX's trading debut is a test of the “Musk premium”, the force behind Tesla's $1T+ valuation, and a gauge of investor appetite ahead of upcoming AI-tied IPOs
Cecilia Kang / New York Times:
Google sues Chinese cybercrime network Outsider Enterprise, accusing it of using Gemini to create fake websites and scam hundreds of thousands of Americans  —  Google warned that artificial intelligence had supercharged the problem of online scams.Andria Lo for The New York Times
Wall Street Journal:
Sources: OpenAI was subpoenaed on Friday by a coalition of state AGs for documents covering a wide range of its activities and impact on users  —  Company subpoenaed for documents covering wide range of its activities and impact on users  —  A coalition of state attorneys general has opened …
More: Reuters
Jyoti Mann / The Information:
Staff memo: Meta plans to limit employee token usage and encourage employees to use MetaCode, after internal AI spending forecasts reached billions for 2026  —  Meta Platforms plans to clamp down on skyrocketing AI costs inside the company by imposing limits on employees' token usage …
Luc Cohen / Reuters:
Sam Bankman-Fried loses his bid to overturn his fraud conviction and 25-year prison sentence over the collapse of FTX  —  Sam Bankman-Fried lost on Friday his bid to overturn his fraud conviction and 25-year prison sentence over the collapse of the FTX cryptocurrency exchange he founded.
Aaron Holmes / The Information:
Sources: Microsoft considered spinning out or restructuring its Xbox unit as a wholly-owned subsidiary, or creating a joint venture with other partners  —  As Microsoft gets ready to overhaul its struggling Xbox gaming unit, it hasn't ruled out spinning out or restructuring the unit …
Yasmin Khorram / Politico:
The US DOJ approves Paramount's $111B purchase of WBD without forcing divestitures or behavioral remedies; state AGs could still try to block the move  —  In a statement, the Antitrust Division said its eight-month review “determined based on the evidence received in its investigation …
Wired:
Sources detail frustration inside Meta's Applied AI team, formed in March to support Superintelligence Labs, over menial projects, “soul-crushing” work, more  —  Executives and employees alike are struggling with Meta's chaotic AI strategy, according to sources and internal discussions reviewed by WIRED.
Financial Times:
KPMG retracts a report on AI's benefits after it has been found to exaggerate AI adoption with case studies that appear to have been based on AI hallucinations  —  Bogus case studies on UBS and transit systems exaggerated adoption of the technology.  A KPMG report on how AI is being used …
Kayla Cobb / The Wrap:
MrBeast hits 500M subscribers on YouTube, becoming the first creator to reach the milestone, after crossing 100M subscribers in 2022  —  The creator is the first to ever reach this milestone  —  MrBeast has broken yet another record.  Jimmy Donaldson, aka MrBeast, hit 500 million subscribers …
Bloomberg:
Sources: Roku is in talks to sell itself; its shares have risen about 24% this year, giving the company a market value of $19.9B; ROKU jumps 20%+ after hours  —  Roku Inc., the streaming video platform, is in talks to sell itself, people with knowledge of the matter said.
Jaspreet Singh / Reuters:
Meta's services, including Facebook and Instagram, are recovering after a brief outage that affected thousands of users  —  Facebook-parent Meta (META.O) said on Friday that users were having trouble accessing the social media company's services.  —  “We're aware people are currently having trouble accessing our services.
Lorenzo Franceschi-Bicchierai / TechCrunch:
Oracle warns customers of a critical PeopleSoft flaw after ShinyHunters claimed it breached 100+ organizations that use PeopleSoft; Oracle hasn't issued a patch  —  Oracle warned its corporate customers that there is a critical-rated vulnerability in its PeopleSoft software …
Seth Fiegerman / Bloomberg:
OpenAI acquires Ona, which offers cloud services to support AI agents, and plans to bring Ona's team into its Codex effort; terms of the deal were not disclosed  —  OpenAI has agreed to acquire Ona, a startup that offers cloud services to support artificial intelligence agents …

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About This Page

This is a Techmeme archive page. It shows how the site appeared at 7:40 PM ET, June 12, 2026.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

From Mediagazer

Malcolm Ferguson / New Republic:
60 Minutes correspondent Cecilia Vega was fired while working on a feature on Francesca Albanese, UN special rapporteur on the Palestinian territories

Janko Roettgers / The Verge:
Apple TV relies on a few tentpole titles to draw audiences, like HBO did in the past, while Netflix uses its catalog size and algorithms to keep viewers engaged

Financial Times:
Palantir loses its legal bid to force Swiss magazine Republik to publish Palantir's responses to coverage of Switzerland's rejection of the company's services

More News

Wall Street Journal:
Companies with rising AI costs are increasingly using tools that tap cheaper models, including some from China, putting pricing pressure on OpenAI and Anthropic
Kenneth Shepard / Kotaku:
Niantic Spatial says Pokémon Go data is “not part of” its deal with spatial AI company Vantor, after concerns that game data could be used for military drones

Earlier Picks

Sean O'Kane / TechCrunch:
Waymo launches Waymo Premier, a $30-per-month membership program offering perks like skipping the line, 10% cashback, and five free ride cancellations per month
Dan Primack / Axios:
Jeff Bezos' Prometheus, which is building AI models for physical tasks, raised a $12B Series B at a $41B valuation, following a $6.2B Series A
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