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Chinese chipmaker GigaDevice rose 54% in its Hong Kong debut after raising ~$600M in its IPO, and reported H1 2025 profit of ~$84M, up 14% from H2 2024 (Bloomberg)
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Nvidia denies that it asked Chinese customers to pay upfront for H200 chips, saying it "would never require customers to pay for products they do not receive" (Reuters)
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A late-2025 amendment to California's wealth tax proposal treats founder control as ownership, a move that could end founder-controlled startups in the state (Mike Solana/Pirate Wires)
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SK Hynix will invest ~$12.9B to build an advanced chip packaging plant in South Korea to meet rising memory chip demand, targeting completion by the end of 2027 (Reuters)
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Trump says Microsoft will "ensure" Americans don't face higher bills due to data centers' power use and Big Tech must "pay their own way" for their data centers (Business Insider)
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Personal finance app Betterment says an individual accessed third-party systems to send fake crypto scam notification and believes the person accessed user info (Emily Mason/Bloomberg)
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Claude Cowork hands-on: looks well positioned to bring the powerful capabilities of Claude Code to a wider audience, but the risks of prompt injections remain (Simon Willison/Simon Willison's Weblog)
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Bakkt agrees to acquire Distributed Technologies Research, the stablecoin infrastructure company founded by Bakkt CEO Akshay Naheta; BKKT closed up 18.69% (Daniel Kuhn/The Block)
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OpenAI acquires Torch, a one-year-old AI health care app that aggregates and analyzes medical records; a source says OpenAI is paying about $100M in equity (Laura Mandaro/The Information)
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Elon Musk says Apple and Google's Gemini deal "seems like an unreasonable concentration of power for Google given that [they] also have Android and Chrome" (Joe Rossignol/MacRumors)
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Sources: Meta plans to lay off ~10% of its 15,000-person Reality Labs division, disproportionately affecting those working on VR headsets and Horizon Worlds (New York Times)
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Anthropic launches Cowork for Claude, built on Claude Code to automate complex tasks with minimal prompting, as a research preview for Claude Max subscribers (Webb Wright/ZDNET)
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Italy's antitrust authority says it reduced the record fine imposed on Amazon in 2021, from €1.13B to €752M, after a recalculation (Elvira Pollina/Reuters)
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Mark Zuckerberg says Meta is establishing a new "top-level" initiative called Meta Compute to build "tens of gigawatts" of AI infrastructure during this decade (Sara Fischer/Axios)
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The UK plans to bring into force a law this week that will make it illegal to create non-consensual intimate images, as Ofcom investigates X (Laura Cress/BBC)
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Sources: the US nears a trade deal with Taiwan that would reduce tariffs on the island's exports and include a commitment from TSMC to build 5+ fabs in Arizona (New York Times)
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Google says Gemini will help power not only a more personalized version of Siri, but also future Apple Intelligence features (Joe Rossignol/MacRumors)
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World Liberty Financial launches World Liberty Markets, letting users lend and borrow digital assets among one another, supporting its own token USD1 and others (Olga Kharif/Bloomberg)
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Document: Meta said last week that it would exclude Italy from its ban on rival AI chatbots on WhatsApp, after an order from the country's antitrust authority (Foo Yun Chee/Reuters)
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Alphabet hits a $4T market cap, becoming the fourth Big Tech company to reach the milestone, after its stock has risen 6%+ in the past month (Financial Times)
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