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SoftBank plans to sell about ¥60 billion of notes in Japan this month, its latest raise to fund a mounting AI bet that includes nearly $65 billion committed to OpenAI.
Anthropic has committed $10 million CAD to Canadian research institutions to fund responsible AI development, announcing partnerships with eight universities and institutes including Mila, the Vector Institute, and Amii.
IBM shares sank about 23% after it warned that preliminary second-quarter results fell short, as clients diverted spending toward memory and servers ahead of price increases.
DeepSeek founder Liang Wenfeng’s net worth has more than doubled to $36 billion following a new funding round, making him the wealthiest founder among pure-play AI development companies, according to Bloomberg.
Crypto-focused venture firm Paradigm has closed a $1.2 billion fund, its first with a mandate extending beyond digital assets into artificial intelligence and robotics.
Swedish vibe-coding startup Lovable is reportedly in talks to raise $300 million at a $13.2 billion valuation, double the $6.6 billion it achieved in December 2025.
Apple expanded its partnership with Broadcom in a multi-year deal worth more than $30 billion, its largest US manufacturing commitment, to produce over 15 billion American-made chips.
Microsoft cut about 4,800 jobs, roughly 2.1% of its workforce, hitting Xbox and commercial sales hardest, the latest tech layoffs to intensify fears about AI and work.
Big Tech’s AI capital spending is projected to reach about 3.2% of US GDP by 2027, overtaking national defense spending as a share of the economy for the first time.
Mark Zuckerberg told employees that Meta’s AI agents have progressed slower than expected and its restructuring was “not as clean” as planned, a rare admission amid huge AI spending.
Microsoft is investing $2.5 billion in Frontier, a new unit that will embed 6,000 engineers with customers to help them adopt AI, joining a wider industry race into hands-on deployment.
Venice AI, a privacy-focused platform offering access to more than 200 AI models without storing user data, has raised a $65 million Series A at a $1 billion valuation.
About $2.3 trillion was wiped from the Magnificent 7 in June as investors questioned Big Tech’s huge AI spending, even as chip and memory stocks kept climbing.
Microsoft is heading for its worst month since 2008 as investors worry that its heavy AI spending may not pay off and that AI could erode demand for its core software.
South Korea announced about $880 billion in planned investment to expand chipmaking, AI data centers and robotics, aiming to double memory output and revive regions outside Seoul.