Despite stablecoins reaching $5T in transaction volumes in 2025, their promise of cheaper cross-border payments is hampered by persistent foreign exchange costs (Sidhartha Shukla/Bloomberg)

Sidhartha Shukla / Bloomberg:
Despite stablecoins reaching $5T in transaction volumes in 2025, their promise of cheaper cross-border payments is hampered by persistent foreign exchange costs  —  Even as stablecoins enter a period of peak expectations, veterans in wider fintech circles see limitations to the tokens as an emerging payments tool.

Experts say TCS' decision to cut 12K jobs signals the start of an AI-fueled trend that could eliminate ~500K jobs in India's $283B IT sector within three years (Reuters)

Reuters:
Experts say TCS' decision to cut 12K jobs signals the start of an AI-fueled trend that could eliminate ~500K jobs in India's $283B IT sector within three years  —  Indian outsourcing giant Tata Consultancy Services' (TCS.NS) decision to cut over 12,000 jobs signals the start of a broader AI-fueled trend …

OpenStore is scaling back its e-commerce aggregation efforts, closing nearly all of its 40+ Shopify stores and rebranding under its Jack Archer menswear label (Annie Palmer/CNBC)

Annie Palmer / CNBC:
OpenStore is scaling back its e-commerce aggregation efforts, closing nearly all of its 40+ Shopify stores and rebranding under its Jack Archer menswear label  —  When venture capitalist Keith Rabois got into e-commerce, he couldn't stop buying brands.  Now, everything must go.

Sources: SoftBank purchased Foxconn's EV plant in Ohio for $375M, a move aimed at kickstarting its $500B Stargate data center project with OpenAI and Oracle (Bloomberg)

Bloomberg:
Sources: SoftBank purchased Foxconn's EV plant in Ohio for $375M, a move aimed at kickstarting its $500B Stargate data center project with OpenAI and Oracle  —  SoftBank Group Corp. is the buyer taking ownership of Foxconn Technology Group's electric vehicle plant in Ohio …

Apple says Apple Intelligence will use OpenAI's GPT-5 on iOS 26, iPadOS 26, and macOS Tahoe 26, with the system updates expected to arrive in September (Zac Hall/9to5Mac)

Zac Hall / 9to5Mac:
Apple says Apple Intelligence will use OpenAI's GPT-5 on iOS 26, iPadOS 26, and macOS Tahoe 26, with the system updates expected to arrive in September  —  Earlier today, OpenAI announced GPT-5, its latest model to power ChatGPT.  The new frontier model is a significant leap forward in a lot of areas.

A look at the impact of AI voice cloning on India's dubbing and voiceover sector, as artists demand consent, credit, and fair pay amid a lack of laws for AI use (Zico Ghosh/The Hollywood Reporter)

Zico Ghosh / The Hollywood Reporter:
A look at the impact of AI voice cloning on India's dubbing and voiceover sector, as artists demand consent, credit, and fair pay amid a lack of laws for AI use  —  As AI voice cloning in films becomes a reality, India's dubbing artists are demanding consent, credit and fair pay …

Sony reports Q1 revenue up 2.2% YoY to $17.8B, net profit up 23% YoY to ~$1.8B, PS5 sales at 2.5M, up from 2.4M in Q1 2024, and expects a lower FY tariff impact (Kosaku Narioka/Wall Street Journal)

Kosaku Narioka / Wall Street Journal:
Sony reports Q1 revenue up 2.2% YoY to $17.8B, net profit up 23% YoY to ~$1.8B, PS5 sales at 2.5M, up from 2.4M in Q1 2024, and expects a lower FY tariff impact  —  The company expects uncertainty over the economy to increase due to U.S. tariffs  —  Sony Group reported higher quarterly net profit …

Amazon plans to make OpenAI's new gpt-oss open-weight models available on Bedrock and SageMaker, the first time it has offered OpenAI's models to customers (Bloomberg)

Bloomberg:
Amazon plans to make OpenAI's new gpt-oss open-weight models available on Bedrock and SageMaker, the first time it has offered OpenAI's models to customers  —  Takeaways by Bloomberg AI  —  Hide … Tell us how AI is shaping your news experience.  Share your feedback

Israeli quantum computing startup QuamCore raised a $26M Series A led by Sentinel, taking its total funding to $35M, and plans to move into chip fabrication (Globes)

Globes:
Israeli quantum computing startup QuamCore raised a $26M Series A led by Sentinel, taking its total funding to $35M, and plans to move into chip fabrication  —  The company has developed a fully designed and simulated architecture capable of scaling to 1 million qubits in a single cryostat.

Filings: SoftBank increased its Nvidia stake to ~$3B in Q1 and bought $330M worth of TSMC stock; a source says Vision Fund monetized ~$2B of assets in H1 2025 (Min Jeong Lee/Bloomberg)

Min Jeong Lee / Bloomberg:
Filings: SoftBank increased its Nvidia stake to ~$3B in Q1 and bought $330M worth of TSMC stock; a source says Vision Fund monetized ~$2B of assets in H1 2025  —  Takeaways by Bloomberg AI  —  Hide … Tell us how AI is shaping your news experience.  Share your feedback

How 20-something CEOs like Cognition AI's Scott Wu, Cursor's Michael Truell, Cluely's Roy Lee, and Scale AI's Alexandr Wang are swarming San Francisco's AI boom (Natallie Rocha/New York Times)

Natallie Rocha / New York Times:
How 20-something CEOs like Cognition AI's Scott Wu, Cursor's Michael Truell, Cluely's Roy Lee, and Scale AI's Alexandr Wang are swarming San Francisco's AI boom  —  Some dropped out of M.I.T., Georgetown and Stanford.  Others decided not to go to college.  They all say they could not afford …

Google, OpenAI, Meta, and VCs are increasingly embracing the US military industrial complex, a major Silicon Valley cultural shift supported by President Trump (Sheera Frenkel/New York Times)

Sheera Frenkel / New York Times:
Google, OpenAI, Meta, and VCs are increasingly embracing the US military industrial complex, a major Silicon Valley cultural shift supported by President Trump  —  In a major shift, Google, OpenAI, Meta and venture capitalists — many of whom had once forsworn involvement in war — have embraced the military industrial complex.

SAP plans to acquire HR software company SmartRecruiters, with the deal expected to close in Q4; SmartRecruiters was valued at $1.5B in a 2021 funding round (Christina Kyriasoglou/Bloomberg)

Christina Kyriasoglou / Bloomberg:
SAP plans to acquire HR software company SmartRecruiters, with the deal expected to close in Q4; SmartRecruiters was valued at $1.5B in a 2021 funding round  —  SAP SE, Europe's most valuable company, will buy San Francisco-based human resources software specialist SmartRecruiters.

Darktrace says it plans to invest $200M in the US in 2026, up 11% YoY, as part of a push to surpass $1B in revenue and grow its US sales to 50% of its revenue (Kieran Smith/Financial Times)

Kieran Smith / Financial Times:
Darktrace says it plans to invest $200M in the US in 2026, up 11% YoY, as part of a push to surpass $1B in revenue and grow its US sales to 50% of its revenue  —  UK-based cyber security group steps up investment plans following takeover by US private equity firm Thoma Bravo

A profile of Rumble founder Chris Pavlovski, who declined an offer to become CEO of Truth Social and opted to provide services to the platform through Rumble (Emily Baker-White/Forbes)

Emily Baker-White / Forbes:
A profile of Rumble founder Chris Pavlovski, who declined an offer to become CEO of Truth Social and opted to provide services to the platform through Rumble  —  Before he helped run Truth Social, Chris Pavlovski owned porn domains.  Now, he's allied with a political movement that wants to ban pornography.