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June 22, 2026, 5:15 PM
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Kurt Wagner / Bloomberg:
Meta invests $900M into Indian fintech Cred for a ~20% stake, and plans to appoint Cred founder Kunal Shah as the leader of WhatsApp, replacing Will Cathcart  —  Meta Platforms Inc. is investing $900 million into Indian fintech startup Cred, with plans to appoint its founder, Kunal Shah, the new leader of WhatsApp.
Ben Fritz / Wall Street Journal:
Google invests in independent movie studio A24 as part of a new AI partnership; sources say Google is investing ~$75M, roughly equal to Thrive's 2024 investment  —  Search giant is putting about $75 million into the film company as part of an artificial-intelligence research partnership
Deirdre Bosa / CNBC:
SpaceX signs a computing deal worth up to $6.3B with Reflection AI for access to Nvidia GB300s at Colossus 2; Reflection will pay $150M per month through 2029
Jay Peters / The Verge:
Valve says Steam Machine, its new living room-friendly PC, will start at $1,049 for the 512GB base model, and go on sale starting June 29  —  You can register your interest starting today, and the first emails letting people buy one will go out on June 29th.
Sean Hollister / The Verge:
Valve Steam Machine review: much smaller than PS5, surprisingly smooth, and navigable with any modern gamepad but very expensive and needs manual configuration  —  My first day with the Steam Machine was a mess.  Instead of enjoying a worry-free game console, I spent hours troubleshooting what felt like a finicky PC.
Bloomberg:
Getty Images signs a licensing deal with OpenAI, letting its image library appear in ChatGPT's search and discovery tools; GETY jumps 90%+ and is down 10%+ YTD  —  Shares of stock-photo company Getty Images Holdings Inc. soared as much as 145% on Monday after it announced a licensing deal with OpenAI.
Lily Hay Newman / Wired:
OpenAI unveils an updated GPT-5.5-Cyber model, launches the Patch the Planet initiative in partnership with Trail of Bits to fix open source bugs, and more  —  Amid concerns about AI models' cybersecurity capabilities, OpenAI revealed an improved version of GPT-5.5-Cyber and its “Patch the Planet” …
Kerry Flynn / Axios:
Sources: marketing tech startup AppsFlyer raised a $1B Series E at a $2.7B post-money valuation; Moloco, Google, Meta, and Unity acquire minority stakes  —  AppsFlyer has raised more than $1 billion in Series E funding at a $2.7 billion post-money valuation, Axios has learned from sources familiar with the financing.
Carl Franzen / VentureBeat:
Sakana AI launches Fugu, a multi-agent orchestration system accessible through a single model API, claiming Fugu Ultra matches Fable and Mythos on benchmarks  —  Last night, the increasingly enterprise-focused AI startup Sakana launched Fugu, a multi-agent orchestration system …
Sarah Basford Canales / The Guardian:
In a joint statement, Five Eyes agencies warn AI models capable of taking down governments and businesses are mere months away, urging leaders to “act now”  —  Signal agencies in Australia, the US, the UK, New Zealand and Canada sound alarm after Trump blocks foreign nationals from Anthropic's Fable AI model
Ryan McMorrow / Financial Times:
Bain says it uses AI coding tools to recreate pieces of target companies' software, making hundreds of rough prototypes in recent years as part of due diligence  —  Private equity groups swiftly recreate software products to gauge their competitive advantages
More: The Decoder and Pulse 2.0
X: @chamath and @pumpcapitalllc.  LinkedIn: Michael Nielsen.  Bluesky: @carnage4life.  Forums: Hacker News
Katie Kilkenny / The Hollywood Reporter:
Instagram is testing horizontal video on Instagram for TV, plans to experiment with longer-form storytelling and episodic series, and launches on Samsung TV  —  The Meta-owned company is going decidedly retro by experimenting with time-honored video formats with its creators.
Kevin Crowley / Bloomberg:
Chevron signs a 20-year deal with Microsoft to provide natural-gas power for a proposed West Texas data center, which could be one of the biggest in the US  —  Chevron Corp. signed a 20-year deal with Microsoft Corp. to provide natural-gas fired power for a proposed West Texas data center, which could be one of the biggest in the US.
Ben Weiss / Fortune:
Crypto trading app Fomo raised a $75M Series B led by Index at a $550M valuation, taking its total funding to ~$94M, and claims to add 3,500 new users per day  —  Two established investors are feeling crypto FOMO.  Index and Union Square Ventures have backed the crypto startup Fomo …
Kimberley Kao / Wall Street Journal:
SK Hynix overtakes Samsung to become South Korea's most valuable company, closing up 5.6% for a ~$1.4T market cap; South Korea's Kospi index is up 117% YTD  —  The South Korean memory-chip maker's market capitalization hit $1.362 trillion  —  Memory-chip maker SK Hynix has overtaken Samsung Electronics …
Bloomberg:
Alphabet shares close down 5% on Monday following the departure of Google DeepMind VP John Jumper, the company's second top AI executive to leave in a week  —  Alphabet Inc. shares tumbled on Monday following the departure of another high-profile artificial intelligence leader to a rival.
Wataru Suzuki / Nikkei Asia:
China adds 10 US companies, including MP Materials and Teal Drones, to its export controls and bans government purchases from 46 US companies, including Anduril  —  BEIJING — China on Monday announced new restrictions on exports and government procurement targeting dozens of American companies …
Wall Street Journal:
Satya Nadella says the public wouldn't tolerate a few AI labs “doing all of the learning for the world”, as Microsoft moves to provide low-cost models and tools  —  In interview, Microsoft's CEO offers a blistering critique of AI power balance and calls for earning society's permission
Kim Su-jeong / CHOSUNBIZ:
Samsung rolls out ChatGPT Enterprise and Codex to all South Korean staff and global DX division staff; OpenAI calls it one of its largest enterprise deployments  —  OpenAI said on the 22nd that it will supply ChatGPT Enterprise and the AI-based work automation platform “Codex” …

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From Mediagazer

Jeremy Barr / The Guardian:
President Trump says Fox News “bears responsibility” for the GOP's losses after “constantly and consistently putting on the Dumocrat opposition, and worse”

Katie Robertson / New York Times:
NYT adds 420K net digital-only subscribers in Q3, boosting total paid subscribers to 13.8M, keeping it on pace to meet a goal of 15M subscribers by 2027's end

Alex Weprin / The Hollywood Reporter:
As Democrats take the House and the Senate, David Ellison and other media executives are likely to face inquiries and hearings over their deals and Trump ties

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