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U.S. Investigates Chinese AI Companies’ Access to Chips Amid Moonshot Accusations

This week, Trump administration officials have taken to the airwaves and X to blast Chinese open source AI companies like Moonshot, accusing them of stealing intellectual property from the likes of Anthropic and other U.S. AI developers. The administration’s concerns aren’t just rhetoric, though. The Bureau of Industry and Security, an agency within the U.S. Department of Commerce, is formally investigating whether Chinese firms like Moonshot, which last week released the Kimi K3 model, are...

IBM Cuts Revenue Target as AI Eats Into Its Sales

The company first warned shareholders about the sales slowdown last week, sending its stock plummeting.

Tesla’s Revenue Climbed 26% in the Second Quarter

Even as the company generated more cash from its day-to-day business, it spent heavily on new manufacturing capacity and AI projects.

Google Cloud Growth Drives Alphabet 24% Revenue Increase

Google also increased its capital expenditure projection for full-year 2026 to $195 billion to $205 billion from $180 billion to $190 billion

ServiceNow Reports Accelerating Second Quarter Growth

The acceleration was partly due to strong demand from the federal government that pulled business into the second quarter from the third quarter.

Amazon Cuts Staff to Division Working on Homegrown Models

Amazon is still committed to the creation of Nova models, but is focusing on certain areas, including its Nova Forge service

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Exclusive: Cursor Launches Model Router

The product comes amid enthusiasm for cost-saving routers.

AMD to Invest Up to $5 Billion in Anthropic, Strikes Chip Deal

Anthropic continues to diversify its AI server suppliers.

Department of Energy Partners with American Open-Weight Model Provider Arcee

The partnership is part of a DOE effort to use AI to accelerate research at national labs

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Monday.com to Cut 20% of Workforce

Monday.com had planned to expand its workforce by 20% but it has gradually retreated from those plans over the past six months.

Exclusive: Veteran Fidelity Fund Manager Joins Michael Dell’s Family Office

Benjamin, a longtime fund manager, managed the $55 billion Fidelity Select Semiconductors mutual fund.

U.S. and China Plan to Hold AI Talks in September

The AI race between the U.S. and China is intensifying, as Chinese AI firms roll out increasingly powerful open-source models that challenge Silicon Valley.

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AI Server Maker Supermicro Surged 17% After Announcing New Orders

SpaceXAI is a likely contributor to Supermicro’s backlog orders.

OpenAI Says Its AI Broke Containment, Went to Internet and Hacked Hugging Face

The incident shows how AI models have in some ways exceeded human cybersecurity capabilities.
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