Sources detail how Meta's $17.1B settlement with state AGs came together as Meta wanted to avoid going to trial following losses in cases in LA and New Mexico — State attorneys general spent months in negotiations. Then, as its legal losses mounted, the social media giant's new top lawyer brought a huge settlement to the table.
Cursor co-founder Michael Truell says OpenAI represents just 5% of Cursor's traffic and Cursor trusted OpenAI to be “neutral”; Musk says he “couldn't care less” — OpenAI said Friday night that it will terminate its contract to provide its AI models …
New AI-powered video tools have accelerated the surge in AI dramas in China; DataEye: 89 of the top 100 animated dramas on Douyin in May were AI productions — Online performers left jobless as new video-generation programmes sweep industry — Chinese actors and online influencers have a new rival …
Chinese memory chipmaker CXMT reports H1 revenue of ~$22.4B, more than double its 2025 sales, and ~$11.5B in profit, compared to a loss a year earlier — CXMT Corp.'s first-half revenue leapt almost 10-fold while profit surged, reflecting a rush for AI hardware that's made the memory chipmaker China's most valuable business.
Sources: Shein pivoted to a Hong Kong IPO and sought to build Chinese government ties, after its New York and London bids failed to secure Beijing's approval — When Shein makes its market debut on Tuesday, it will be in Hong Kong and not New York or London like it once dreamed …
Sources: Singapore-based Shein is set to price its Hong Kong IPO at ~$6.20, or near the midpoint of its marketed range, raising $1.73B and valuing it at ~$26.5B — Online fast-fashion retailer Shein is set to price its Hong Kong initial public offering near the midpoint of its marketed range …
A profile of Leopold Aschenbrenner, who worked for SBF and OpenAI before launching Situational Awareness; Aschenbrenner married Dario Amodei's chief of staff — A 24-year-old investor was hailed as a visionary and attracted billions—before turning into Wall Street's latest cautionary tale
Z.ai confirms Ox Alpha is a new iteration of its GLM series and says it will release the weights for it tonight; Ox Alpha topped OpenRouter's leaderboard — The new AI model that's swept to the top of online usage charts with high performance at zero cost was created by China's Z.AI Co., also known as Zhipu.
Bitcoin rises above $80K after jumping 20%+ last week, its biggest three-day gain since 2023; US spot bitcoin ETFs had $1.92B in net inflows last week — Bitcoin extended gains on Tuesday, as renewed inflows into spot bitcoin ETFs and improving risk appetite extended the cryptocurrency's recent rally.
Alibaba launches Wan3.0, a video generation model that can generate 30-second videos from documents, spreadsheets, slides, and web pages — Alibaba (9988.HK) officially rolled out its latest AI video generation-model Wan3. on Monday with enhanced capabilities after the Chinese internet giant launched …
Ramp data: Fable 5, launched in June, has plateaued at ~11% of spending on Anthropic tools, as companies shift to cheaper models; Opus 5 surpassed Fable 5 — AI lab's Fable 5 has met with sluggish demand from corporate clients — Anthropic's US customers are using cheaper alternatives …
Alibaba plans to raise ~$10B in a follow-on share offering to fund AI investments; sources: it plans to offer 710M shares at a 3.6% discount to Friday's close — China's Alibaba (9988.HK) on Sunday launched a HK$80-billion ($10.2 billion) share placement to fund artificial intelligence-related development.
Sources: foldable iPhone feels durable, fits well in a pocket, has useful iPad-like app layouts, excels as a camera viewfinder but lacks telephoto and Face ID — Also: Get ready for iPhone price hikes. — Apple is about to bring some of its product magic back with its first foldable iPhone.
The careers of Z.ai's Tang Jie and Moonshot AI's Yang Zhilin, once teacher and pupil at Tsinghua University, show that China's AI leap is no sudden development — University lab nurtured the computer scientists who are using ingenuity and imitation to chase down Anthropic and OpenAI; ‘they know perfectly how to monetize their work’
A look at the narrowing US-China AI gap, as a spate of compelling, low-cost releases makes Chinese AI models increasingly attractive to businesses — A spate of compelling releases at budget prices have made China the frontrunner in the race for global adoption.
New York Times : Sources detail how Meta's $17.1B settlement with state AGs came together as Meta wanted to avoid going to trial foll...
