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Techmeme
July 23, 2026, 7:26 AM
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Alphabet:
Alphabet reports Q2 revenue up 24% YoY to $119.8B, above $116.9B est., Google Cloud revenue up 82% YoY to $24.8B, and Services revenue up 15% YoY to $94.5B  —  MOUNTAIN VIEW, Calif. - July 22, 2026 - Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended June 30, 2026.
Ryan McMorrow / Financial Times:
Google reports Q2 free cash flow at negative $5.9B amid increased AI spending, marking its first cash burn since going public more than two decades ago  —  Search giant says it will commit up to $205bn to AI investments in 2026  —  Google burned through cash in the second quarter …
Todd Spangler / Variety:
Alphabet reports YouTube's Q2 ad revenue up 13% YoY to $11.06B, above $10.8B est., and Google's ad revenue reached $81.63B, up from $71.34B in Q2 2025  —  Video giant YouTube, one of the world's biggest entertainment businesses, continues to turn in double-digit increases in ad revenue.
Bloomberg:
Sources: OpenAI models breached Hugging Face's internal systems in a matter of hours, a feat that would typically have taken a talented hacker a couple of weeks  —  When OpenAI's advanced artificial intelligence models breached AI startup Hugging Face's internal systems last week …
Financial Times:
Sources: OpenAI staff were “freaked out” when its AI models breached Hugging Face, as OpenAI used more aggressive training methods to compete with Anthropic  —  Increasing use of aggressive training techniques sharpens threat of bad behaviour by leading models
Director Michael Kratsios / @mkratsios47:
White House OSTP Director Michael Kratsios says “we have information that Moonshot AI distilled Anthropic's Fable for the development of its K3 model”  —  We have information that Moonshot AI distilled Anthropic's Fable for the development of its K3 model. To do this they developed a sophisticated internal platform to conduct large scale distillation against U.S. models, allowing them to quickly switch between multiple methods of
Sophia Cai / Politico:
The Little Tech Association, a new group of ~200 companies across the startup community, including Y Combinator, urges Trump not to ban Chinese open-weight AI  —  Almost 200 Silicon Valley companies, including Proton and Y-Combinator, are urging the Trump administration not to cut off access …
New York Times:
The European Commission fines Google €890M under the DMA for illegally undercutting competition through its search dominance and Google Play developer rules  —  At a tense moment for trans-Atlantic trade, the European Union accused Google of anti-competitive business practices.
David Yaffe-Bellany / New York Times:
The Senate's Clarity Act, a crypto industry-backed bill set for a vote this summer, is mired in debate over rules to stop Trump from selling digital currencies  —  Democrats and Republicans are haggling about the Clarity Act, a major bill pushed by the crypto industry, as it moves closer to a Senate vote.
Washington Post:
US GAO study: Amazon workers on federal aid tripled from February 2020 to September 2025; ride-hailing and delivery apps topped employers with workers on aid  —  Amazon workers on federal aid nearly tripled between 2020 and 2025, while ride-hailing and food delivery app drivers shot …
Reuters:
Tesla reports a negative Q2 free cash flow of $1.1B, its first in over two years, partly due to increased AI and robotic investments, amid diminishing profits  —  Tesla (TSLA.O) on Wednesday missed analysts' profit forecasts for the second quarter and, for the first time in more than two years …
Zijing Wu / Financial Times:
The debate over Moonshot AI founder Yang Zhilin's departure from the US misses a larger structural reality: China has built a homegrown AI talent pipeline  —  More entrepreneurs from China believe there are now greater opportunities at home than in Silicon Valley
Fred Gao / Inside China:
In a leaked four-hour investor talk, DeepSeek's Liang Wenfeng says the main US-China gap is compute access, Nvidia's CUDA moat is disintegrating, and more  —  In a rare four-hour talk, the reclusive founder reveals an almost Daoist philosophy of AI—AGI as a tide no company can own …
Nic Fildes / Financial Times:
A profile of Peter Beck, the New Zealand billionaire whose Rocket Lab is pushing to compete with the satellite internet ambitions of Elon Musk and Jeff Bezos  —  Peter Beck's Rocket Lab builds out internet satellite business to rival Starlink and Amazon Leo
Sean O'Kane / TechCrunch:
Travis Kalanick's robotics startup Atoms raised $1.7B led by a16z, with Uber and others participating; Ben Horowitz will join the startup's board  —  Travis Kalanick's robotics company, Atoms, has raised $1.7 billion in a funding round led by Andreessen Horowitz.

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From Mediagazer

New York Times:
Sources: Trump continues to push to replace the James S. Brady Press Briefing Room with a swimming pool, as the administration builds a buffer against the press

The Hollywood Reporter:
Sources: ex-Warner Bros. film heads Pamela Abdy and Michael De Luca are talking with Netflix for a film chief role but seek more theatrical release commitments

Axios:
Anna Gomez, lone Democrat on the FCC, believes ABC will prevail in its First Amendment lawsuit over the agency's early review of licenses of ABC-owned stations

More News

Earlier Picks

Jordan Novet / CNBC:
IBM reports Q2 revenue up 1% YoY to $17.2B, vs. $17.6B est., infrastructure revenue down 7% to $3.8B, Z mainframe revenue down 42%, and lowers its 2026 forecast
Business Insider:
OpenAI introduces OpenAI Presence to help companies better connect AI agents to their internal systems and automate customer support, sales, and other tasks
Jez Corden / Windows Central:
Xbox expands its backward compatibility program to PC, starting with four classic original Xbox games, offering 4X resolution scaling, V-Sync support, and more
Mark Gurman / Bloomberg:
Sources: Apple is set to debut new versions of every Mac, including long-awaited iMac updates, a revamped MacBook Pro, and a new Neo, across the fall and 2027
Chris Welch / Bloomberg:
Samsung teases its smart glasses, developed with Google, Warby Parker, and Gentle Monster, and says they will have a nine-hour battery life and privacy features
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