Techmeme: Source: Mercor hit over $2B in gross revenue run rate in June, double its pace in April, and is profitable on a free cash flow basis (Julia Hornstein/The Information)

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July 6, 2026, 1:25 PM

Top News

Bloomberg:

Xbox CEO Asha Sharma says the unit will divest five studios, including Ninja Theory, alongside ~3,200 job cuts, to streamline the business, in a “reset” — Compulsion and Double Fine studios will become independent; Undead Labs and Ninja Theory will be sold.

More: XBOX Wire, The Verge, IGN, Game File, Aftermath, The Information, Forbes, Gizmodo, T3, Windows Central, The Verge, Business Today, PCWorld, Finimize, Tom's Hardware, BBC, This Week in Videogames, Wall Street Journal, Associated Press, Kotaku, PCMag, GeekWire, New York Times, VideoCardz.com, GamesBeat, Game Developer, HotHardware, GamesIndustry.biz, UPI, New York Post, GamesRadar, Aftermath, The Next Web, TheGamer, Polygon.com, ScreenRant, Watcher Guru, iPhone in Canada, Game Informer, The Movie Blog, Comic Book, Digit, DayOne, TheDesk.net, Pure Xbox, Rock, Paper, Shotgun, Mashable, GamingBolt, Yahoo Finance, TechRadar, Tech4Gamers, PC Gamer, MobileSyrup, Blue's News, The Tech Portal, Dexerto, 80 Level, CBS News, PocketGamer.biz, Neowin, Variety, Video Games Chronicle, Notebookcheck, Deadline, The Game Business, Quartz, Push Square, Yahoo Tech, Digital Trends, 9to5Toys, Telecompaper, Mobilegamer.biz, and Press Start

LinkedIn: Liam McDonald and Sam Carlisle

Bluesky: @jasonschreier, @dringo, @jasonschreier, @mattmday, @jasonschreier, and @zeboydgames

Tom Warren / The Verge:

Microsoft is laying off ~4,800 employees, or ~2.1% of its workforce; most are in sales or Xbox, where ~20% of jobs are set to be cut by the end of FY 2027 — Most of the job losses are in Microsoft's Xbox and commercial sales organizations. … A year after cutting around 9,100 employees …

More: Microsoft, CNBC, TechCrunch, Financial Times, Benzinga, Windows Central, The Economic Times, CNN, DatacenterDynamics, This Week in Videogames, Moneycontrol, Thurrott, GeekWire, Windows Central, Business Insider, Deadline, IGN, ABC News, Sky News, Digit, Euronews, @theweek, Newser, The Wrap, Proactive, Business Insider, Polygon.com, and Daily Sabah

X: @johnwilson. Bluesky: @tomwarren.co.uk. Forums: r/FluentInFinance, r/gamingnews, r/videogames, r/gaming, r/pcgaming, r/news, r/xbox, and r/Games

Anniek Bao / CNBC:

SemiAnalysis: Nvidia delays its next-gen AI rack system Kyber NVL144 by 12+ months to 2028 due to PCB manufacturing issues, and cancels its NVL72x2 architecture — NVIDIA's next marquee product — the Kyber rack-scale architecture designed to house its 2027 Rubin Ultra chips …

CNBC:

Anthropic signs a 20-year, ~$19B lease to use a TeraWulf data center in Kentucky, set to have a ~400MW capacity and to start delivering power in H2 2027 — Anthropic on Monday signed a 20-year lease to use a TeraWulf data center in Kentucky. — The data center, located about an hour southwest …

Natalie Lung / Bloomberg:

Reddit says its AI-powered content moderation systems caught 25K “spammy posts and comments” per day in Q1, reducing users' exposure to such content by 20% YoY — Reddit Inc. is battling a new kind of spam: stealth marketing content created by brands that want to get mentioned …

More: Engadget, TechCrunch, Reddit Upvoted, The Verge, MediaPost, RuntimeWire, and The Next Web. Forums: r/redditstock

Bill Toulas / BleepingComputer:

Researchers document JadePuffer, the first known “agentic ransomware”, which adapts in real time by retrying steps to execute an end-to-end extortion operation — Researchers identified what they believe is the first documented case of a ransomware operation, JadePuffer …

More: Sysdig, The Register, National Vulnerability Database, CyberScoop, Business Insider, Hackread, The Next Web, SC Media, CSO, Business Standard, The Decoder, NextBigWhat, Digital Trends, SecurityWeek, The Independent, Cyber Security News, The Hacker News, and BankInfoSecurity.com

X: @tobi_msp and @sysdig

LinkedIn: Geoff McDonald and Mario Vuksan. Bluesky: @campuscodi.risky.biz. Forums: Slashdot

Reuters:

SK Hynix launches a US share sale on the Nasdaq to raise ~$28B, selling 17.79M new shares; the final listing price is due Thursday before trading starts Friday — South Korean chipmaker SK Hynix (000660.KS) on Monday launched a U.S. share sale to raise 43 trillion won ($28.07 billion) …

Akash Sriram / Reuters:

Broadcom agrees to expand its Apple partnership through 2031 to develop and supply custom chips; in 2023, the companies announced a multibillion-dollar 5G deal — Broadcom (AVGO.O) said on Monday it has agreed to expand its partnership with Apple (AAPL.O) through 2031 to develop and supply custom chips …

Ming-Chi Kuo:

Kuo: Apple suppliers plan to ship <1M foldable iPhones in Q3 2026, which may push the start of device preorders and sales to Q4, with weeks of delivery delays — My latest industry survey indicates that assembly shipments for the foldable iPhone in 2H26 will be roughly 7-8 million units …

Andrew Webster / The Verge:

Nintendo plans to stop selling the original Switch, Lite, and OLED in Europe from mid-February 2027 and update the Switch 2 to comply with new EU battery rules — The decision comes alongside an update to the Switch 2 to coincide with European battery regulations.

More: Nintendo of Europe SE, Engadget, Thurrott, VideoCardz.com, The Next Web, IGN, GoNintendo, Polygon.com, DayOne, ScreenRant, Comic Book, Nintendo Life, TheGamer, GamesRadar, Video Games Chronicle, The Shortcut, and Press Start

X: @stealth40k, @nintendoeurope, @nintyprime, @victor_lucas, and @sowhataboutgame. Forums: Slashdot

Julia Hornstein / The Information:

Source: Mercor hit over $2B in gross revenue run rate in June, double its pace in April, and is profitable on a free cash flow basis — Mercor hit over $2 billion in gross revenue run rate in June, double its pace earlier this year, according to a person with direct knowledge of the company's financials.

More: RuntimeWire

Sam Witteveen / VentureBeat:

Tencent releases Hy3, a 295B-parameter model that it says is competitive with GLM-5.1 and 5.2, under the Apache 2.0 license, following a preview launch in April — For the past year, the awkward secret of the open-weight model boom has been that many of the strongest Chinese releases …

More: Hugging Face, Tencent, WinBuzzer, and RuntimeWire

X: @tencenthunyuan, @rogerw0108, @gneubig, @shunyuyao12, @tencentai_news, @zixuanli_, and @jenzhuscott

Connie Loizos / TechCrunch:

An interview with Agility Robotics CEO Peggy Johnson on why the startup is going public via a SPAC, the physical layer as its core advantage, safety, and more — The humanoid robotics market is awash in money right now. Last week, AI2 Robotics, a Shenzhen-based startup that makes wheeled humanoid robots …

More: Benzinga

Eric Katz / NOTUS:

Doc: a draft US Treasury Department report is set to warn about the AI market's risks, likening key aspects to the dotcom bubble bursting in the early 2000s — Publicly, the Trump administration is bullish about AI. Privately, some of its analysts are weighing AI against the dotcom bust.

More: Mock Paper Scissors. X: @ericm_katz and @ericm_katz. Bluesky: @deanbaker13

Forums: r/BetterOffline, r/politics, and r/Economics

James Hunt / The Block:

Filing: Strategy sold 3,588 bitcoin for ~$216M between June 29 and July 5 to replenish its USD reserve; its holdings have an $11.4B paper loss at current prices — Quick Take — Strategy has sold 3,588 BTC for approximately $216 million, reducing its total holdings to 843,775 BTC.

Adam Harrington / CBS News:

Illinois Governor JB Pritzker signs SB 315, a bill requiring annual third-party safety audits of leading AI companies; OpenAI and Anthropic backed the bill — Add CBS News on Google — Illinois Gov. JB Pritzker on Monday signed legislation aimed at holding artificial intelligence companies accountable.

More: The Verge, Bloomberg Law, The State of Illinois …, illinoissenatedemocrats.com, and ABC7

X: @_nathancalvin and @govpritzker

Kate Park / TechCrunch:

Shenzhen-based Even Realities, a startup that makes smart glasses without cameras, raised a $150M pre-Series B led by Meituan and Tencent — Meta and Snap rolled out new smart glasses last month, the latest sign that the industry is racing to put a camera and an AI assistant onto users' faces.

More: The Next Web, Tech Funding News, Road to VR, Quartz, and CNBC

Jennifer Medina / New York Times:

Some US voters are using AI tools as nonpartisan researchers, seeing them as a viable alternative to traditional news coverage, voter guides, and social media — It takes effort to be an informed citizen. Artificial intelligence tools offer an alluring shortcut — but they're not without risk.

More: Benzinga. Bluesky: @martinsfp, @inlayterms, and @markriedl. Forums: r/Enough_Sanders_Spam

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From Mediagazer

The Hollywood Reporter:

The Sky-ITV deal raises questions about US ownership of the UK's largest commercially funded free-to-air network and a key part of its cultural landscape

Lucas Shaw / Bloomberg:

Sources: Netflix is studying its data to see why viewers quit its shows after S1, with some shows seeing a 30%-70% S2 drop, as it faces a quarter without hits

Alex Ritman / Variety:

AI-focused studio Particle 6 plans a full-length feature film to be led by the AI “actor” Tilly Norwood, as a hybrid production using film and TV professionals

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More News

Julia Fioretti / Bloomberg:

A term sheet shows Tencent is seeking to raise as much as $1.55B in a selldown of part of its stake in short-video app operator Kuaishou through a block trade

More: Reuters

Natalie Breymeyer / Axios:

AI agent training platform Bespoke Labs raised $40M across a seed led by 8VC and a Series A led by Wing, saying the funding gives it almost two years of runway

More: FinSMEs and Ventureburn

Ryan Vlastelica / Bloomberg:

Filing: Brookfield-backed data center company Csquare seeks to raise up to $1.35B in an IPO, selling 50M shares at $23 to $27 each for an up to $4.18B valuation

More: Axios, Csquare, and Reuters

David Keohane / Financial Times:

How Masayoshi Son is remaking SoftBank in his own image, betting on AI; SoftBank trades at a ~50% discount to its net asset value, as some question his strategy

More: Ed Zitron's Where's Your Ed At

Yoolim Lee / Bloomberg:

A profile of Samsung union leader Choi Seung-ho, who helped win a ~$26B bonus package for chip employees, as he tries to resolve the rift over bonus gaps

More: MIT Technology Review, Reuters, Quartz, Seoul Economic Daily, The Next Web, and GSMArena.com. X: @business

Olivia Fletcher / Bloomberg:

AI-driven drops in labor income and gains in capital income could hit Ireland's tax base, with 6%+ of its workforce in tech and heavy exposure to US companies

X: @daveg

Brian Danga / The Block:

Ripple secures CASP authorization from Luxembourg's financial regulator, making it fully MiCA-compliant to offer crypto services across 30 EEA countries

More: Ripple, Benzinga, Blockonomi, CryptoNinjas, The Crypto Times, Bitcoin News, CoinDesk, CoinGape, crypto.news, Coinpedia Fintech News, Blockhead, CryptoPotato, Cointelegraph, and Blockchain.News

Armin Ronacher / Armin Ronacher's Thoughts and Writings:

Claude Opus 4.8 and Sonnet 5 seem worse at tool calling than older models, likely as post-training optimized them primarily for Claude Code-like environments

X: @xeophon, @completeskeptic, and @mitsuhiko. Forums: Hacker News

Earlier Picks

Ann Cao / South China Morning Post:

Shanghai-based AI chipmaker Biren raises ~$892.5M in a new share sale to boost GPU production; Biren's stock is up nearly 150% since its January Hong Kong IPO

More: The Next Web and Tech in Asia

Kate O'Keeffe / Bloomberg:

A US federal judge orders the DOD to shield Alibaba from a law that caused its lobbyists to drop it as a client while she weighs the measure's constitutionality

More: South China Morning Post, Benzinga, Engadget, and The Next Web

John Keilman / Wall Street Journal:

Nvidia, Neura Robotics, and others are building safety systems for humanoid robots to minimize risks, like the consequences of a bipedal robot losing stability

Eli Tan / New York Times:

A look at Threads and an interview with Head of Threads Connor Hayes, as the platform passes 500M MAUs and increasingly resembles Reddit with a community focus

More: PR Daily and Reuters

Threads: @philfung, @ngorby, @conno_r, @karaswisher, and @matthewfacciani

Grace Kay / The Information:

Tesla rolls out its Robotaxi service without a human safety monitor in Miami, its fifth city, as it aims to expand to a dozen US states by the end of 2026

More: Barron's Online, The Next Web, Automotive World, and Quartz

Wency Chen / South China Morning Post:

ByteDance's Doubao and Alibaba's Qwen will disable humanlike and user-created agents before July 15, as China's anthropomorphic AI interaction rules take effect

More: Bloomberg, PYMNTS, Nikkei Asia, AI News, TechNode, and The Decoder

X: @mathemagic1an and @teortaxestex

New York Times:

Analysis: nearly 1M $TRUMP retail buyers lost a combined $3.81B, while <500K mostly early wallets captured $4B in gains, a textbook memecoin wealth transfer

More: TechCrunch, Benzinga, MS NOW, Blockonomi, American Prospect, Condia, Silicon Canals, Cointelegraph, Gizmodo, Mock Paper Scissors, and Mediaite

X: @kenvogel, @davidfrum, @scott_wiener, @senblumenthal, @senblumenthal, @jeffjarvis, @cgasparino, @bluegeorgia, and @kbandersen. Bluesky: @deanbaker13. Mastodon: @jeffjarvis@mastodon.social

Forums: r/technology, r/nytimes, and r/CzechCoconutCommunity

Financial Times:

Bending Spoons' Nasdaq IPO caps its ~50 deals across 10+ years that transformed the Italian startup into a highly leveraged internet company with ~$4.4B in debt

More: TechCrunch