Techmeme: Apple supplier Luxshare raised ~$3.1B in its Hong Kong IPO, selling 383.5M shares at ~$8 each, the top of its marketed range, and will start trading on Thursday (Bloomberg)

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July 7, 2026, 9:45 AM

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Fanny Potkin / Reuters:

Sources: Beijing recently held meetings with Alibaba, ByteDance, Z.ai, and others to discuss restricting overseas access to advanced open and closed AI models — Chinese authorities have held meetings with top tech firms over the past month about potentially restricting overseas access …

More: The Information, International Business Times, Quartz, Times of India, Nairametrics, and Bloomberg

X: @zackkorman, @kyleichan, and @jukan05

Forums: r/neoliberal, r/singularity, r/LocalLLaMA, and r/wallstreetbets

Kai Nicol-Schwarz / CNBC:

OpenRouter: Chinese AI models have drawn 30%+ of token use by US companies each week since February 8, peaking at 46%, up from 11% over the previous 12 months — Chinese-built AI models are gaining traction among U.S. companies as they narrow the performance gap with leading American rivals …

More: Quartz, Washington Examiner, The Decoder, and Nikkei Asia

Forums: r/LocalLLaMA and r/technology

New York Times:

Alibaba's Qwen models, introduced in 2023, have made it an AI powerhouse, but the company has yet to turn their global popularity into a profitable business — The Chinese company's models have won over developers worldwide, but they are open source — so they can be used and modified freely.

Bluesky: @jessefelder.com

Anthropic:

Anthropic researchers detail J-space, a small collection of neural patterns in Claude that reveals internal thoughts that don't appear in the model's output — As you read this sentence, circuits in your brain are adjusting your posture, controlling your breathing, and transforming lines …

More: Axios, Anthropic, Business Standard, Anthropic on YouTube, The Rundown AI, The Indian Express, Gizmodo, Digit, The Neuron, Implicator.ai, VentureBeat, and RuntimeWire

Bluesky: @tedunderwood.com, @amyhoy, and @shibbi.me

Forums: Hacker News, r/LocalLLaMA, r/ClaudeAI, and r/singularity

Reuters:

Samsung estimates Q2 operating profit of ~$58.44B, up 19x from Q2 2025 and above ~$57.02B est., and revenue up 129% YoY to ~$111.7B; Samsung's stock drops 6%+ — Samsung Electronics (005930.KS) on Tuesday forecast a 19-fold jump in second-quarter operating profit from a year earlier …

More: Samsung Newsroom, Bloomberg, New York Times, Quartz, SammyGuru, SamMobile, Spyglass, Benzinga, GSMArena.com, SiliconANGLE, CNBC, Nikkei Asia, Financial Times, Wall Street Journal, Wccftech, and Korea JoongAng Daily

X: @danielnewmanuv, @firstadopter, @pequityresearch, @negligible_cap, @jun_song, @universeice, @jackfarley96, and @jukan05

Forums: r/StockMarket, r/DRAM_ETF, and r/wallstreetbets

Wall Street Journal:

OpenAI, Anthropic, and other top AI labs are offering startups token credits, promotions, and one-time bonuses as they battle for lasting streams of B2B revenue — Pitched battle for business users comes as AI companies seek lasting streams of revenue — Hans Ibarra, a founder building …

More: The Decoder. X: @benfritz. Bluesky: @doctorcarrie

Reuters:

Sources: DeepSeek is at an early stage of developing its own AI chip designed for inference, in a push that could reduce its reliance on Nvidia and Huawei chips — Chinese startup DeepSeek is developing its own AI chip, according to three people familiar with the matter …

More: Engadget, Bloomberg, CTech, Seoul Economic Daily, The Decoder, and Benzinga

X: @paurooteri, @kyleichan, and @jukan05

Ben Fritz / Wall Street Journal:

Source: Xbox Game Pass currently has ~30M subscriptions; a years-old internal doc shows Microsoft had projected Game Pass subscriptions would reach ~77M in 2026 — The videogame unit's revenue has fallen and its Netflix-like subscription service is far below expectations

More: XBOX Wire, CNBC, IGN, TechCrunch, TheGamer, Fortune India, Thurrott, Polygon.com, ScreenRant, ByteHaven, Comic Book, Bisnow, MediaPost, Kotaku, The Daily Caller, and ZeroHedge News

Forums: r/gaming and r/LastStandMedia

Sam Smith / GamesBeat:

Xbox appoints Helen Chiang as its first COO; Chiang was previously the Corporate Vice President of the Minecraft Franchise and the Studio Head of Minecraft

More: Gameranx and The Overspill

Bloomberg:

Microsoft's Xbox plans to cut ~3,200 jobs over the next year, including 1,600 on Monday, and divest up to five studios, including Ninja Theory, in a “reset”

More: The Verge, Kotaku, Game File, Fortune, XBOX Wire, IGN, Game Developer, Windows Central, This Week in Videogames, GamesIndustry.biz, The Verge, Kotaku, Reuters, Benzinga, Polygon.com, DayOne, Kotaku, Video Games Chronicle, Pure Xbox, KitGuru, GamesRadar, TechRaptor, GamingBolt, Forbes, The Information, Gameranx, Aftermath, Silicon Republic, PC Gamer, Rock, Paper, Shotgun, Digital Foundry, @theweek, Digit, 80 Level, TechSpot, The Daily Upside, Yahoo Finance, Capital Brief, Cord Cutters News, Blaze Media, Push Square, GeekWire, Rogue, Los Angeles Times, TBPN, ScreenRant, MarketWatch, UPI, T3, Aftermath, ABC News, New York Times, KFTC-TV, Washington Post, iPhone in Canada, CNN, The Verge, Business Today, The Movie Blog, Radio Times, Ars Technica, PCWorld, Tom's Hardware, The Next Web, Yahoo Tech, Variety, Business Insider, and The Verge

LinkedIn: Dan Rayburn, Liam McDonald, and Sam Carlisle

Bluesky: @jasonschreier, @bethesdaunion, @bethesdaunion, @jasonschreier, @jasonschreier, @seanhollister, @sphynxian, @bethesdaunion, @spacetwinks, @zeboydgames, @jasonschreier, @dringo, @mattmday, and @jasonschreier. Threads: @eric_seufert

Diana Novak Jones / Reuters:

Court filing: Meta says four US states seek $1.4T over claims it designed Facebook and Instagram to addict youth and misled the public; its market cap is ~$1.5T — Meta Platforms (META.O) said in a court filing on Monday that four states were seeking $1.4 trillion in penalties over accusations …

More: The Hans India, The Independent, Quartz, Engadget, Phandroid, Digit, COINOTAG, Simply Wall St, Blockonomi, and Fox Business. Bluesky: @glinden

Bloomberg:

Sources: Amazon is looking to raise at least $25B from a US dollar bond sale to fund its AI infrastructure investments; the size could increase based on demand — Amazon.com Inc. is looking to raise at least $25 billion from a US dollar bond sale, its latest funding push as the company ramps …

More: Reuters and Benzinga

Bloomberg:

Apple supplier Luxshare raised ~$3.1B in its Hong Kong IPO, selling 383.5M shares at ~$8 each, the top of its marketed range, and will start trading on Thursday — Apple Inc. supplier Luxshare Precision Industry Co. raised HK$24.3 billion ($3.1 billion) after pricing shares for its Hong Kong listing at the maximum amount it had set.

More: Reuters and The Next Web

Andrew Liszewski / The Verge:

Solos unveils the AirGo A6 camera-less smart glasses, cutting the weight to 19g from 36-40g of the AirGo A5, and V2 privacy accessories like a clip-on shield — The AirGo A6 are slimmer and lighter than last year's model while still offering hands-free access to an AI assistant.

More: Gizmodo, Android Police, Android Central, and Wired

Andrew Chung / Reuters:

SCOTUS declines to block a Texas law requiring app stores and developers to verify the age of mobile device users, and for minors to obtain parental consent — The U.S. Supreme Court declined on Monday to block a Texas law requiring app stores and developers to verify the age of mobile device users …

More: 9to5Mac, NPR, CNET, Wall Street Journal, Associated Press, PocketGamer.biz, Courthouse News Service, New York Sun, Politico, CNN, SCOTUSblog, Washington Examiner, Newser, Al Jazeera, USA Today, ABA Journal, CCIA, New York Times, MS NOW, and Bloomberg Law

X: @tppf, @ccianet, @juliecbarrett, @jareddhayden, and @joellthayer. Mastodon: @carnage4life@mas.to

Guinevere Grant / Bloomberg:

Norm, which runs an AI law firm that provides AI-powered legal services to clients alongside human lawyers, raised $120M led by Khosla at a $1.2B valuation — Norm Ai has raised $120 million from investors in a new funding round to help automate legal services and rethink how the industry bills for its work.

Byron Kaye / Reuters:

Study: 50 test accounts created in Australia on nine platforms were never prompted for age verification despite the Australian law mandating a ban on under-16s — Australia's online platforms are stumbling at the very first step in implementing age checks for users, rendering a world …

Forums: r/technology

Gao Yuan / Bloomberg:

Survey: Chinese companies plan to allocate 46% of their AI accelerator budget to domestic products in the next 12 months, up from 30% today, a shift from Nvidia — Chinese companies are ditching Nvidia Corp.'s advanced accelerators in favor of domestic silicon, underscoring how tensions …

More: Barron's Online, Trak.in, and Tech in Asia

Sam Schechner / Wall Street Journal:

UN Secretary-General António Guterres calls for autonomous “killer robots” to be “banned by international law”, a central issue in the US DOD-Anthropic clash — António Guterres labels lethal autonomous weapons ‘morally repugnant,’ resurfacing issue …

More: Tech Times and NewsMax.com

Brian Danga / The Block:

Coinbase secures UK FCA authorization to offer investment services, enabling it to expand into derivatives and equities trading, its largest UK expansion yet — Quick Take — Coinbase has secured a UK investment services license, allowing it to expand beyond crypto with derivatives and equities trading.

More: CoinDesk, Coinbase, The Crypto Times, Cointelegraph, crypto.news, and Blockonomi

Bloomberg:

Munich-based nuclear fusion startup Proxima Fusion raised €411M led by trading firm XTX and UK-based East X at a €2.4B valuation, with participation from Google — German startup Proxima Fusion has raised €411 million ($469 million) from a range of investors …

More: PitchBook, CNBC, Proxima Fusion, Financial Times, Neowin, Pathfounders, RuntimeWire, Ventureburn, Axios, Benzinga, Sifted, Anadolu Ajansı …, and FinSMEs. X: @soundboy

Reuters:

Counterpoint: China smartphone sales fell 13% YoY during the 618 shopping festival as brands raised prices to offset memory costs; Honor fell 33% and Xiaomi 24% — Smartphone sales in China fell 13% year-on-year during the month-long 618 shopping festival, as brands raised prices …

More: The Register and Benzinga

Benoit Berthelot / Bloomberg:

Paris-based UMA, founded by ex-Tesla Optimus scientist Rémi Cadene and ex-Google DeepMind researcher Pierre Sermanet, demos its Northstar AI humanoid robot — A former Tesla Inc. scientist who worked on Elon Musk's Optimus robot unveiled plans to produce a lightweight humanoid robot …

More: RoboticsTomorrow.com

Tim Fernholz / TechCrunch:

US autonomous military vehicle startup Forterra says it deployed 100+ Lancer UGVs, based on Polaris ATVs, in Ukraine since 2025, completing 1,100+ missions — Forterra, a US builder of autonomous vehicles, revealed today that more than 100 of its self-driving ATVs have been deployed …

More: GB News

Financial Times:

European banking watchdogs ECB and ESRB warn that frontier AI models pose “systemic risks to the financial system”, giving lenders four months to prepare — IT weaknesses could be exploited by frontier models in a ‘matter of minutes or hours’, say ECB and ESRB

More: Bloomberg, Reuters, and Politico

Mauro Orru / Wall Street Journal:

UK-based AI infrastructure startup Nscale secures a $900M line of credit to expand its data center buildout across Europe, the US, and the Asia Pacific — Nscale raised $2 billion earlier this year as investors continue to see promise in AI — Nscale Global Holdings said it had secured …

More: DatacenterDynamics, PR Newswire, Capacity, Tech Funding News, Telecompaper, and UKTN

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Financial Times:

The High Court in London rules against Prince Harry and six other claimants in the privacy lawsuit against Daily Mail publisher Associated Newspapers

Daniel Thomas / Financial Times:

Sky agrees to acquire ITV's TV business for £1.6B, uniting the UK's two largest commercial broadcasters; ITV says shareholders will receive £950M from the deal

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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Emily Shugerman / The San Francisco Standard:

A profile of Rachel Whetstone, who has led comms for Google, Meta, Uber, Netflix, and now Sierra, as her husband Steve Hilton runs for California governor

More: CalMatters. X: @sherlyholmes, @jonsteinberg31, @adamkovac, @eshugerman, @hannahcwiley, @pkafka, and @venkatananth. Bluesky: @wildebees

Peter Vercoe / Bloomberg:

WiseTech co-founder Richard White steps down as chair amid a police probe over claims he exploited a woman's immigration status for sex; WTC jumps 7%+

More: Telegraph, Brisbane Times, Australian Financial Review, Ticker, ABC, Reuters, The Courier-Mail, Capital Brief, Sydney Morning Herald, and Dow Jones Newswires

Tiffany Hsu / New York Times:

A profile of Bernadette Meehan, a US diplomat who became Wikimedia Foundation CEO in January, as Wikipedia faces threats from MAGA, AI, and foreign autocrats

LinkedIn: Cameran Ashraf, Ph.D.. Forums: r/anime_titties, r/BuyFromEU, r/worldnews, r/europe, and r/wikipedia

Pragyan Kalita / Reuters:

Syntiant, which develops low-power AI processors, files for a US IPO, reporting a $20.9M net loss on $64.5M in revenue for the three months ended March 31

More: SiliconANGLE, Bloomberg, and Syntiant

Kelsey Vlamis / Business Insider:

xAI rebrands to SpaceXAI and unveils a new logo; Elon Musk said in May that xAI would be dissolved as a separate company and become the AI products from SpaceX

More: Creative Bloq, Engadget, Mashable, Gizmodo, TESLARATI, and RuntimeWire

X: @spacexai, @iterintellectus, @dpoddolphinpro, @zeroxjackson, @parker__conrad, @zachwarunek, and @benjitaylor

Daniel Kuhn / The Block:

BonkDAO, which oversees the Bonk memecoin, says it was the target of a “malicious governance proposal” that resulted in a loss of $20M worth of Bonk tokens

More: The Record, Bitcoin Insider, Protos, Coinpedia Fintech News, Blockonomi, CoinDesk, CoinGape, Benzinga, crypto.news, Decrypt, Decrypt, Bitcoin News, The Crypto Times, and Cointelegraph

X: @bonk_inu, @imperooterxbt, @ferbsol, and @cryptogle

Bloomberg:

Sources: Vista Equity and Quinti made a takeover bid for Criteo that values the French ad tech company at a 50%+ premium to its stock price in recent weeks

More: BMI, Reuters, and MediaPost

Julia Hornstein / The Information:

Source: Thrive Capital spinoff Thrive Holdings seeks to raise around $2B from SoftBank, Altimeter, D1, and others, after previously raising $1B

More: PYMNTS

Earlier Picks

Raphael Satter / Reuters:

Sources: CISA's Attack Surface Evaluation team is using Mythos to audit government code repositories and has already uncovered a large number of vulnerabilities

More: SecurityWeek, Benzinga, and Business Today. Bluesky: @seniormcgeezer

Bloomberg:

Sources: the US weighs housing the Strategic Bitcoin Reserve at the Commerce Department amid concerns over the Treasury Department's legal ability to manage it

More: Unchained, CoinDesk, crypto.news, Bitcoin News, Cryptonews, The Crypto Times, Cointelegraph, and The Block

Julia Fioretti / Bloomberg:

Tencent sold ~$1.5B of stock in short-video app operator Kuaishou, through a selldown of part of its stake, in the biggest block trade in Hong Kong in 2026

More: Dow Jones Newswires, South China Morning Post, and Tech in Asia

Sam Witteveen / VentureBeat:

Tencent releases Hy3, a 295B-parameter model that it says is competitive with GLM-5.1 and GLM-5.2, under the Apache 2.0 license, after a preview launch in April

Julia Hornstein / The Information:

Source: Mercor hit a $2B+ gross revenue run rate in June, double the three-year-old startup's pace in April, and is profitable on a free cash flow basis

More: RuntimeWire. X: @mattmickiewicz and @brendanfoody

Adam Harrington / CBS News:

Illinois Governor JB Pritzker signs SB 315, a bill requiring annual third-party safety plan audits of leading AI companies; OpenAI and Anthropic backed the bill

More: The State of Illinois Newsroom, The Hill, GovTech, Pluribus News, JURISTnews, Gizmodo, StateScoop, Washington Examiner, The Deep View, Chicago Tribune, ABC7, The Verge, Bloomberg Law, and Illinois Senate Democrats

X: @miles_brundage, @cesarfernand3z, @govpritzker, @_nathancalvin, and @govpritzker

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

More: Nintendo of Europe SE, Gameranx, KitGuru, Dexerto, TechRadar, Android Authority, Neowin, GamesIndustry.biz, GamesBeat, GamingBolt, Kotaku, Engadget, TechEBlog, Gizmodo, GoNintendo, The Next Web, IGN, and Polygon.com

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

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

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